Sleep Disorders Treatment Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Sleep Disorders Treatment market in 2021?

The global sleep disorders treatment market had a market size of USD 62.4 billion in 2021, with a Compound Annual Growth Rate (CAGR) of 6.7% from 2021 to 2028. With the increasing prevalence of sleep disorders worldwide, the market is expected to reach USD 94.3 billion by 2028.

COVID-19 Impact on the Sleep Disorders Treatment Market

The COVID-19 pandemic has had a significant impact on the sleep disorders treatment market. The lockdowns, social distancing measures, and uncertainty caused by the pandemic have led to an increase in anxiety and stress among individuals, resulting in a higher prevalence of sleep disorders. As a result, the demand for sleep disorders treatment has surged during the pandemic.

Sleep Disorders Treatment Dynamics

The dynamics of the sleep disorders treatment market are influenced by factors such as the increasing awareness about the importance of sleep, the rising prevalence of sleep disorders due to lifestyle factors, and the advancements in treatment options. Additionally, the growing geriatric population, who are more prone to sleep disorders, is driving the market growth.

Segments and Related Analysis

The sleep disorders treatment market can be segmented based on type of disorder, treatment type, and end-user. Common sleep disorders include insomnia, sleep apnea, narcolepsy, and restless legs syndrome. Treatment options include medication, therapy, and devices. End-users of sleep disorders treatment include hospitals, sleep clinics, and home care settings.

By Region Analysis

The global sleep disorders treatment market is segmented into regions such as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America currently dominates the market due to the high prevalence of sleep disorders and advanced healthcare infrastructure. However, the Asia Pacific region is expected to witness the highest growth rate due to increasing awareness and rising disposable incomes.

Key Market Players and Competitive Landscape

Key players in the sleep disorders treatment market include ResMed, Koninklijke Philips N.V., Fisher & Paykel Healthcare Limited, Inspire Medical Systems, and SomnoMed. These companies are focusing on research and development activities, strategic partnerships, and product launches to gain a competitive edge in the market.

Recent Happenings in the Sleep Disorders Treatment Market

In recent years, the sleep disorders treatment market has witnessed several key developments. For example, ResMed acquired digital therapeutics company Propeller Health to enhance its respiratory care offerings. Additionally, Koninklijke Philips N.V. launched the DreamStation Go Auto CPAP machine, catering to the growing demand for portable sleep apnea devices.