SOURCE: Packaged Facts

December 11, 2008 11:38 ET

Baby Boomers to Drive Strength of Sleep Aid Product Market

NEW YORK, NY--(Marketwire - December 11, 2008) - For the tens of millions of Americans afflicted with one of the 70 plus physician-identified sleep disorders, a good night's sleep can be as elusive as financial stability during a recession. Nevertheless, the market for over-the-counter (OTC) medications and herbal supplements designed to aid this slumber-challenged multitude is thriving. Market research publisher Packaged Facts' all-new report, Sleep Aid Products in the U.S. Market: Non-Prescription OTC, Natural and Alternative Remedies, estimates that the total OTC market for sleep aids alone reached $604 million in 2008, an increase of 9% over the $533 million in 2007. The increase was on par with the 8% compound annual growth rate (CAGR) that OTC sleep aids experienced between 2004 and 2008.

Both short-term and long-term success of the market is tied to aging Baby Boomers, a high-income populace less likely to feel the pinch of the weak economy as strongly as consumers with more moderate levels of income.

Women of the Baby Boomer generation tend to face unique sleep challenges. As they age, more than half of the women entering their menopausal transition years can expect to experience various primary sleep disorders including sleep apnea, snoring, restless legs syndrome, or insomnia. "Sleep disorders are under-diagnosed in menopausal women, and many experts now recommend special consideration when diagnosing and treating their sleep problems," says Tatjana Meerman, publisher of Packaged Facts.

Sleep Aid Products in the U.S. Market: Non-Prescription OTC, Natural and Alternative Remedies is an investigation into a growing market of mainstream and alternative products that aid, enhance or affect sleep and relaxation. By focusing on consumer, product and marketplace trends the report takes an in-depth look at sales of OTC sleep aids and provides a snapshot of the more niche natural sleep aid supplements market as a bellwether for the future of the total marketplace. For further information visit: http://www.packagedfacts.com/Sleep-Aid-Products-1812880/.

About Packaged Facts -- Packaged Facts, a division of Market Research Group, publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, demographics, pet, and financial products. Packaged Facts also offers a full range of custom research services. For more information contact Jenn Tekin at (240) 747-3015 or jtekin@marketresearch.com.

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