Insomnia is a disorder with the symptoms of lack of sleep, which is caused due to sedentary lifestyle, medical conditions, and medication. Insomnia is segmented into three types, namely transient, acute, and chronic depending on the duration of the disorder. In transient insomnia, symptoms persist from a few days to few weeks; for instance, acute insomnia persists for several weeks, while chronic insomnia lasts for months and even years. The global insomnia market was valued at $4,093 million in 2016, and is estimated to reach $5,488 million by 2023, registering a CAGR of 4.2% from 2017 to 2023.
The global insomnia market is segmented based on therapy type and geography. Based on therapy type, it is bifurcated into non-pharmacological and pharmacological therapy. Non-pharmacological therapy segment is further categorized into hypnotherapy, cognitive behavioral therapy, medical devices, and other non-pharmacological therapy. Pharmacological therapy is further divided into prescription sleep aids and over-the-counter sleep aids. The market is analyzed based on region into North America, Europe, Asia-Pacific, and LAMEA.
The global insomnia market is driven by rise in demand for over-the-counter (OTC) sleep aids and emergence of therapeutics with fewer side-effects. As the drugs used for the treatment of chronic diseases have some side-effects, which could affect the patient’s quality of sleep, the rise in incidence of chronic diseases is expected to boost the market growth. Furthermore, rise in stress level among youngsters have affected the quality of sleep and increase in demand for drugs. Moreover, the rise in geriatric population, increase in healthcare expenditure, and growth in disposable income are expected to fuel the market growth. However, the side-effects caused due to excessive use of sleep medication and patent expiration of many prescription drugs in the market are expected to hinder the market growth.
KEY MARKET BENEFITS FOR STAKEHOLDERS
This report offers a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
The market estimations provided in this report are based on comprehensive analysis of the key developments in the industry.
In-depth analysis based on geography facilitates the analysis of the regional market for strategic business planning.
The development strategies adopted by key manufacturers are enlisted in the report to understand the competitive scenario of the market.
Merck & Co. Inc.
Sanofi India Limited
Takeda Pharmaceutical Company Ltd.
Purdue Pharmaceuticals L.P.
Eisai, Co. Ltd.
Meda Consumer Healthcare Inc.
KEY MARKET SEGMENTS
By Therapy Type
Cognitive Behavioral Therapy
Other Non-pharmacological Therapy
Prescription Sleep Aids
Over-the-counter Sleep Aids
Rest of Europe
Rest of Asia-Pacific
Republic of South Africa
Rest of LAMEA
The other players of the Insomnia market include (companies not profiled in the report):
Eli Lilly and Company