The Asia-Pacific sleeping aids market size was $9.3 billion in 2015 and is forecasted to grow at a CAGR of 6.6% during the forecast period. Various type of sleeping disorders such as sleep apnea, insomnia, restless legs syndrome, narcolepsy and sleep walking require some or the other type of sleeping aids intervention. Sleeping aids for sleep apnea held the largest share in the Asia-Pacific market in 2015, since an increasing number of people in the region suffer from breathing problems while sleeping.
The demand for sleeping aids has been rising in the region due to high consumption of sleeping pills owing to changing lifestyle, growing awareness about sleep disorders and other related problems, long working hours, and growing aging population. Some of the sleeping aids products available in the market include mattress & pillow, sleep laboratories, medication, sleep apnea devices and others. Amongst these, mattress & pillows held the highest share in the regional market, standing at 41% in 2015, since they have a direct impact on the sleeping condition of a person.
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Due to increasing sleeping disorders, the players in the sleeping aids market in the region are investing more in research and development activities and development of new drugs. For instance, in October 2016, Eisai Co., Ltd. announced the initiation of a Phase II clinical study of its internally-discovered oral dual orexin receptor antagonist lemborexant in patients with Irregular Sleep-Wake Rhythm Disorder (ISWRD) and mild to moderate Alzheimer’s disease (AD) dementia. Lemborexant is being jointly developed by Eisai and Purdue Pharma L.P. There is no known treatment approved for an irregular sleep-wake pattern in patients, therefor it is a condition with high unmet medical need, further leading to the growth of the sleeping aids market in the region.
Some of the other key players operating in the Asia-Pacific sleeping aids industry include Sanofi S.A., Koninklijke Philips N.V., GlaxoSmithKline PLC, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Compumedics Limited, Becton, Dickinson and Company, Eisai Co., Ltd. and Drive Medical Ltd.
This post was originally published on Business Analytics