Surge in the number of population worldwide with sleep disorders is resulting in swelling demand for sleep aids. Typically, sleep aids are either drugs or medical devices that are used in the diagnosis and treatment of various types of sleep disorders, including sleep apnea and insomnia. Sleep aids are useful to help treat sleep disorders that could lead to mental and physical health conditions.
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Sleep disorders need to be treated for overall well-being and to prevent loss of energy level. Besides this, sleep disorders also adversely affect quality of personal and professional life.
Health implications of sleep disorders is creating ample opportunities for the sleep aids market. Individuals with sleep disorders tend to seek medical help to prevent chronic health conditions such as stroke and high blood pressure. These factors are likely to bode well for the sleep aids market in the years ahead.
Awareness of Significance of Sound Sleep makes North America Prominent Region
North America is a key region in the overall sleep aids market. High awareness among individuals to seek professional help for sleep disorders is a key factor behind the growth of sleep aids market in the region. Easy availability of medical devices and drugs to treat sleep disorders also fuels the sleep aids market in the region to a high degree. Practice of professional consultation and adoption of alternate therapies such as yoga and naturopathy further invigorate the sleep aids market in the region.
The sleep aids market is largely consolidated with a few large players that hold considerable share. Product innovation and devising new therapies are some focus areas of keen players in the sleep aids market. Large players are also engaging in inorganic growth strategies such as partnerships and business alliances for competitive gains.
Some large players operating in the sleep aids market are Koninklijke Philips N.V., eVilbiss Healthcare LLC, Merck & Co. Inc., Cadwell Laboratories Inc., Natus Medical Incorporated, and GlaxoSmithKline plc.
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