PatSnap, one of the world’s leading innovation intelligence platforms, recently published an industry report uncovering trends within the $100B global sleep solutions market. Leveraging insights and analysis from patent data, the report looks at which sleep solutions are being developed by companies, the regions responsible for fuelling the industry’s growth and new entrants to the market.
Among the highlights of the report, is data revealing that the market for “soft” sleep solutions (i.e. wearable tracking technology and apps, devices and equipment, and sleep accessories such as masks, beds, pillows, mattresses etc.) is growing faster than the market for “hard” solutions consisting of prescription pills and other consumables promoted to aid sleep.
The report also identifies the top companies and countries investing in the development of sleep-related innovations. China and the U.S. are first and second in the list of countries filing the most patents for sleep solutions. While the U.S. is currently the biggest market in terms of revenue, the Asia-Pacific market is estimated to be the fastest growing, making it a region worthy of attention in coming years.
Figure 1 – Patents filed for hard vs. soft solutions, 2010 - present
For more insights and trends in the global sleep solutions market, you can access the full report here.