Big Sleep is on track to hit $101.9B by 2023 because you’re all a bunch of insomniacs

The sleep aid biz is booming, and it’s capitalizing off of your insomnia.

May 1, 2019

Hi there. It’s Wes Schlag, and if narcolepsy is a spectrum, I am on it. In other words, I sleep like a baby. The moment my head hits the pillow, nighty niiiiiight, world.

I don’t mean to brag (JK, yeah I do), but over the years I realized this is a dang superpower because — NO ONE CAN SLEEP! And it’s resulting in an estimated $63B of lost work performance each year.

The silver lining? Sleepy heads are awake during a booming renaissance of sleep aids. But it’ll cost ya.

Big sleep is big biz

Sleep aids were a $69.5B business in 2017, and analysts say the industry’s on pace to hit $101.9B by 2023. But it’s not all melatonin gummies and Ambien out there. 

Over the last 3 years, an explosion of weighted blankets, temperature-regulating duvets, and pillows with light-blocking hoods have hit the scene to help people go full R.E.M. 

Whatever helps you sleep at night… if you have the cash

On average, weighted blankets exist in the $250 range, proving that when it comes to sawing logs, people are counting dollars instead of sheep.

But many sleep aids are financially out of reach in less-affluent areas — areas that the CDC found to be at higher risk of sleep deprivation. Everyone knows financial woes cause anxiety, and anxiety is the death of good sleep.

In other words, sleep is now a luxury item. The real superpower would be to help those less fortunate afford to catch some zzzz’s.

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