Multinational technology and healthcare company Royal Philips has moved to expand its SmartSleep suite solutions in a bid to tackle the increasingly common problem of sleep deprivation.

According to a recent report by market intelligence firm Parks Associates, insomnia and sleep malaise are regularly experienced by 40 percent of people in the US.

Philips' expanded SmartSleep range, which includes home devices like the Snoring Relief Band, a sensory wearable that reduces snoring; and the Somneo Sleep and Wake Up Light, a bedside calming light and relaxation coach; are specifically designed to defend against insomnia.

The company also indicated that it would seek to address "approximately 80 percent of all sleep issues" by partnering with the American Sleep Association, American Well, Sleep Rate, and WebMD.

In a statement, John Frank, business leader of sleep and respiratory care at Philips, said: "Just like food, water and air, sleep is essential for survival, and yet it is often the first health pillar to be compromised.

"By expanding our suite of consumer sleep solutions and teaming up with other like-minded companies who prioritise preventative health, we can help people realise the true power of their sleep."