Insomnia Market Share, Size, Demand, Trends, Growth and Segment Forecasts To 2030
Insomnia
Market Overview:
The
global insomnia market is expected to reach USD 6.6 billion
by 2030 at 3.11% CAGR during the forecast period 2022-2030, claims
Market Research Future (MRFR) in an extensively researched study.
Insomnia,
across the world, is on the rise aggravated much by anxiety and stress which
are by-products of the changing lifestyle. In a roundabout a way this also
triggers the global insomnia market.
Drivers
and Restraints:
Rapid
industrialization and urbanization affected the populace adversely so much so
that physiologically people are becoming incapable of continually updating
themselves as per the latest lifestyle changes. Along with it, a sedentary
lifestyle has chipped in with physical ailments. Together they have a knock-on
effect on the human biological clock disturbing sleep the most and in the
process causing insomnia. Rising geriatric population is also a major driving
factor for the market.
Advanced
technologies are also giving the market a much-needed thrust. It offers
significant help in reducing the stress level and cancelling out other factors
that act as hindrances for sound sleep. Various pharmaceuticals are also
developing drugs that can reduce the stress level.
However,
people are not aware of the ill-effects, and their lack of education can hinder
the market growth.
Regional
Analysis:
The
global insomnia market report
can be segmented by region, North America, Europe, Asia Pacific (APAC) and the
Middle East and Africa (MEA).
North
America is currently leading the market. The rise in geriatric population and
growing level of stress among the residents are the chief driving factors. As
reported by Perelman School of Medicine at the University of Pennsylvania, 1 in
4 from the U.S. alone gets affected by insomnia every year. Technological
advancements and availability of the latest treatments are also giving the
region much momentum. People here are more aware of the psychological disorders
and deficiencies due to which the market is experiencing significant growth. Favourable
reimbursement policies are also helping the sector work better in the region.
Europe has the second largest market. Progress in research and development in
this sector has given the regional market enough thrust to expand
appropriately.
The
APAC and the MEA generate the least share of the global market. Lack of
awareness and proper healthcare structure are acting as market deterrents in
the region. However, working in shifts is proving daunting for the region and
is giving rise to cases of insomnia. Japan has a high prevalence of the
disease. But the APAC is witnessing better reimbursement policies which can
boost the market in future.
Segmentation:
The
global insomnia market can be segmented by types of therapy, drug formulation,
and disease condition.
Based
on types of therapy, the market can be further segmented into pharmacological
therapy and non-pharmacological therapy. Pharmacological therapy includes
benzodiazepines, non-benzodiazepines, melatonin receptor agonists and other.
Non-pharmacological includes relaxation therapy, cognitive behavioural therapy,
sleep hygiene education, stimulus control, paradoxical intention and
other. Pharmacological therapy may witness an increase in demand as the
bioavailability of drugs are fetching positive results. However, prolonged
usage of such medicines can cause dependency or addiction. On the other hand,
cognitive behavioural therapy (CBT-1) can prove beneficial for the industry in
the foreseeable future.
Based
on drug formulation, the market covers capsules, tablets, and others. With
pharmaceutical therapy gaining the majority this market is all set to rise
higher.
As per
the condition of the disease, the market can be segmented into poor quality of
sleep, sleep maintenance and other.
Key
Players:
The
global insomnia market players are Pfizer, Inc. (US), Eisai, Co. (Japan), Merck
& Co Inc (US), Sanofi (France), Flynn Pharma (UK), Takeda Pharmaceutical
Company (Japan), Biocodex S A (France),
Meda Consumer Healthcare Inc (US), Pernix Therapeutics (US), Purdue Pharma L.P.
(US), Dainippon Sumitomo (Japan), Consumer Healthcare Inc. (Canada), ECR
Pharmaceuticals (US), Johnson & Johnson (US), Astellas (UK), Neurim (Switzerland),
SkyePharma (UK), and Vanda Pharmaceuticals Inc. (US).
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