USD 43.76 billion
Global Sleep Patches Market Size, Share, Growth Analysis, By Ingredients(Chemical Ingredients, Natural Ingredients), By End User(Household, Commercial), By Distribution Channel(Supermarkets/Hypermarkets, Drug/Pharmacy stores) - Industry Forecast 2024-2031
Report ID:
SQMIG35B2180 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
89 |
Figures:
76
Global Sleep Patches Market Insights
Sleep Patches Market size was valued at USD 43.76 billion in 2019 and is poised to grow from USD 51.07 billion in 2023 to USD 168.41 billion by 2031, growing at a CAGR of 16.6% in the forecast period (2024-2031).
Sleep patches are transdermal patches that have an adhesive backing and can be applied directly to the skin. As people fall asleep, the patch releases melatonin into their bodies. The patches contain a variety of unique chemicals that are intended to enhance sleep quality, lessen tension, and soothe the body. CBD, lavender, melatonin, l-theanine, and black pepper extract are some of these substances.
The main ingredient of sleep patches is Melatonin. The sleep-wake cycle is greatly influenced by melatonin. When exposed to light, the body produces less melatonin and produces more melatonin at night. In an ideal world, the brain would produce more melatonin after sunset using sunshine alone as a trigger. Nearly one-third of individuals regularly fall short of sleep. Physical, emotional, and mental well-being are all impacted by lack of sleep. Sleep quality may be improved with sleep patches, which raise melatonin levels when they are low. These factors are contributing to the fastest growth of the sleep patches market.
US Sleep Patches Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Online
Fastest Growth
Online
Growth Rate
16.6% CAGR
Global Sleep Patches Market ($ Bn)
Country Share for North America Region (%)
Global Sleep Patches Market By Distribution Channel ($ Bn)
Global Sleep Patches Market By Distribution Channel (%)
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Global Sleep Patches Market Segmental Analysis
The Global Sleep Patches Market is segmented based on the End User, Distribution Channel and region. Based on the End User, the Sleep Patches Market is bifurcated into Household, and Commercial. Based on the Distribution Channel, the Sleep Patches Market is segmented into Supermarkets/Hypermarkets, Drug/Pharmacy stores, Online, and others. Based on ingredients, the Sleep Patches Market is bifurcated into Chemical and Natural. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Sleep Patches Market Analysis by Ingredients
Based on ingredients, the sleep patches market bifurcated into chemical and natural. The chemical ingredients segment dominates the market in 2021. However, natural ingredients have the fastest growing segment throughout the forecasted period. There are several side effects of using chemical-based sleep patches such as Headaches, dizziness, irritability, and temporary depressive feelings. However, as recent trends, companies are developing sleep patches with natural ingredients such as essential oils, valerian root, Gaba, and hops.
Sleep Patches Market Analysis by Distribution Channel
In 2021, the Drug/Pharmacy stores led the Sleep Patches market in terms of revenue share. However, the Online segment has the fastest growing rate throughout the forecasted period. According to the American Psychological Association, millennials are the most stressed-out generation, with anxiety and lack of sleep being major contributors to the stress. Consumers between the ages of 18 and 34, known as millennials, continue to be the dominant age group in online commerce. Millennials spend more money online annually than any other age group. These consumers spend about $2,000 on online purchases each year. The increasing sleep issue and growing online purchasing among the millennials will drive the sleep patched market.
Global Sleep Patches Market By Distribution Channel, 2023 (%)
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Global Sleep Patches Market Regional Insights
In 2021, the North America region led the global sleep patches market. About 70 million Americans experience persistent sleep issues. Injuries, chronic illnesses, mental illnesses, poor quality of life and well-being, higher health care expenses, and decreased work productivity are all linked to sleep deprivation. About 30% of adults over the age of the general population experience insufficient sleep as per the report by the Centers for Disease Control and Prevention. The most prevalent sleeping disorder is insomnia. 33 to 50% of adults experience insomnia symptoms, while 10 to 15% of adults with chronic insomnia disorder—a condition linked to distress or impairment—also experience these symptoms. During the forecasted period, Asia Pacific is the fastest growing region.
The Asia Pacific is the region with the most people, some of whom live in poor conditions. The average sleep duration of Chinese people declined from 8.5 hours in 2012 to 7.06 hours in 2021, a fall of 1.5 hours, according to the Chinese Sleep Research Report 2022. Only 35% of Chinese people can sleep for eight hours. More than three-quarters of the 300 million Chinese individuals who have sleep difficulties fall asleep after 11 p.m., and over one-third have trouble falling asleep until 1 a.m. Netizens have given sleep difficulties a lot of attention, and many of them acknowledge that they do have sleep disorders. The increasing sleeping disorder prevalence in the region will fuel the sleep patches market.
Global Sleep Patches Market By Region, 2024-2031
- Largest
- Fastest
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Global Sleep Patches Market Dynamics
Sleep Patches Market Driver
Increasing Prevalence of Insomnia and Sleep Apnea to Drive Market Growth
- Sleep disorders affect an estimated 50 to 70 million people worldwide each year, with insomnia costing the US economy an estimated $62.2 billion in lost productivity. Sleep apnea is a serious medical condition in which a person's breathing is interrupted while sleeping. It can cause snoring, gasping, or choking sounds, as well as sleepless nights. According to the National Sleep Foundation, an estimated 18 million American adults suffer from sleep apnea, with 4% of middle-aged adults (ages 30-60) and 2% of older adults (ages 60+ also affected.
- Certain groups of people have higher numbers. For example, approximately 50% of people of African American ancestry have insomnia, and approximately 60% of people with a history of depression have sleep apnea. Sleep apnea is a condition in which people have pauses in their breathing while sleeping. This causes fatigue and, in some cases, daytime drowsiness. People are turning to sleep patches in response to this. Whereas a sleep patch can help people with insomnia and sleep apnea, it can also help people who have trouble sleeping due to stress or other factors. The device can track the user's breathing, heart rate, and body temperature while they sleep, providing insight into why they are having trouble sleeping.
Sleep Patches Market Restraint
Side Effects of Sleep Patches
- Sleep patches also contain substances that help people fall asleep, such as valerian, L-theanine, or GABA. Additionally, they could include substances like adhesives or compounds that make it easier for these sleep aids to be absorbed. The market for Sleep Patches would be hampered by some possible side effects while using it. Headaches, dizziness, irritability, temporary depressive feelings, and stomach cramps are all possible side effects.
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Global Sleep Patches Market Competitive Landscape
There are several large and medium-sized wellness companies competing in the Sleep Patches Market. Moreover, there are some regional companies that are selling their products online aggressively. The threat of new entry in the market is high as the raw material is available and the manufacturing of products is not that complex. Innovative product and packing innovation are the primary goals, and products that are free of harmful substances and used natural substances, as well as new formats, are gaining appeal. For Instance, The Natural Patch Co. has introduced sleep patches, a method free of medications, hormones, and medical oversight. A specially created blend of essential oils is used in Sleep Patch, an all-natural sleep patch made for children two years old and older, to help soothe the body and mind.
Sleep Patches Market Top Player's Company Profiles
- GlaxoSmithKline
- Merck & Co., Inc.
- Procter & Gamble
- Teva Pharmaceutical Industries Ltd.
- Medline Industries, Inc.
- Hisamitsu Pharmaceutical Co., Inc.
- Johnson & Johnson
- Sanofi S.A.
- Pfizer, Inc.
- Mylan N.V.
- Purdue Pharma L.P.
- Novartis International AG
- Takeda Pharmaceutical Company Limited
- Mallinckrodt Pharmaceuticals
- Mundipharma International Limited
- AdhexPharma
- The Mentholatum Company
- Luye Pharma Group Ltd.
- Ferring Pharmaceuticals Inc.
- Alza Corporation
Sleep Patches Market Recent Developments
- In June 2022, The Natural Patch Co. has developed sleep patches that are free of medications, hormones, and medical supervision. Sleep Patch, an all-natural sleep patch for children two years old and older, uses a specially created blend of essential oils to help soothe the body and mind.
- In February 2022, PURE BOTANIKA has introduced a transdermal sleep patch. In honour of National Sleep Awareness Month in March.
Global Sleep Patches Key Market Trends
- As consumers become more focused on holistic health remedies, more companies are looking to include natural ingredients in their sleep patches. This trend is likely to continue as people become more aware of the chemicals they are ingesting.
- Wearable technology has seen a significant increase in recent years, and it shows no signs of slowing down. Sleep patches are one example of this trend, as there are now numerous options on the market that allow you to track your sleep patterns and even receive alerts if you aren't getting enough rest.
Global Sleep Patches Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Sleep Patches Market Analysis, in 2021, the North America region led the global Sleep Patches market. In the US, Insomnia symptoms affect 33 to 50% of adults, while 10 to 15% of adults with chronic insomnia disorder (a condition associated with distress or impairment) also have these symptoms. The Asia Pacific will be the fastest growing region during the forecasted period. The demand for sleep patches with natural ingredients is growing. Moreover, Hotel and hospitality industry also understand the benefit of sleep patches and offer the same to their guest. The growing prevalence of sleep disorders and easily online availability will drive the sleep patches market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 43.76 billion |
| Market size value in 2031 | USD 168.41 billion |
| Growth Rate | 16.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Sleep Patches Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Sleep Patches Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Sleep Patches Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Sleep Patches Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Sleep Patches Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Sleep Patches Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Sleep Patches Market Report Snapshots
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