The number of consumers suffering from sleeping disorders continues to grow, and quality sleep is a major issue for many Americans. In fact 75.0% of surveyed consumers indicate they have trouble falling asleep. Many use OTC sleep aids, combination OTC pain relievers and sleep aids, natural and herbal remedies, or sleep devices, such as smart watches and sleep tracking apps which posted 50% sales growth to help them sleep. These market segments however, are growing at very different rates. For example, sales of OTC sleep aids like Unisom, ZzzQuil, and Simply Sleep expanded by 3.4%. In contrast, sales of natural and herbal sleep aids that contain melatonin or valerian rose 18.0%, and sleep devices grew over 50.0%, as per Kline’s Sleep Aids study. Continue reading
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Sleepless Americans Turn to Tech Devices and Natural Products
Restful sleep remains an elusive goal for many adults and therefore, strong gains for sleep aids, including OTC sleep aids, natural sleep products, pain+sleep combination products, and sleep devices are forecast over the next five years by Kline’s Sleep Aids: U.S. Market Analysis and Opportunities study. Estimates range from 30%-40% of American adults experience symptoms of insomnia and 40 million are affected by chronic long-term sleep disorders.Continue reading
