New Technologies for the Sleep Market

A Market Worth Nearly 110 Billion

 

We live in a prosperous era for insomniacs. As the number of people who spend sleepless nights or suffer from restless sleep continues to rise, so does the number of solutions beyond pills — growing exponentially. In 2017, this market generated US$ 69.5 billion in revenue, but forecasts suggest it could reach up to US$ 101.9 billion by 2023.

 

On the other hand, lack of sleep is responsible for an estimated loss of US$ 63 billion in productivity every year in the United States.

Here, the solutions developed over the last three years are far more low-tech — from blankets that apply pressure and regulate temperature to hooded pillows. The standout "sleep tech" player in the segment is Casper, which sells mattresses online — along with an entire range of sleep experiences. The startup, which was widely doubted at first (who buys a mattress online??), is now valued at over US$ 1 billion.

The appeal of the segment — which charges far from modest prices for its solutions — is that there is no price tag on a good night's sleep. Now there's an opportunity.

Text by Pedro Waengertner