According to the latest report by IMARC Group, titled “Insomnia Market Growth , Size, Share, Industry Trends, Opportunity and Forecast 2023-2028″ reached a value of US$ 5.1 Billion in 2022. Looking forward, expects the market to reach a value of US$ 6.1 Billion by 2028 exhibiting a CAGR of 3% during 2023-2028.
What is a insomnia market ?
Insomnia refers to a sleep disorder that can lower energy levels and affect the mood, health, work performance, and overall life quality of an individual. Its causes include stress, long travels, hectic work schedules, poor sleep habits, binge eating, etc., and excessive consumption of nicotine, caffeine, alcohol, etc.
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Insomnia can also be associated with mental health disorders, including post-traumatic stress and the use of drugs, such as antidepressants for asthma or blood pressure and over-the-counter (OTC) for pain relief, allergies, cold, etc. Its treatment options, including cognitive-behavioral therapy (CBT), over-the-counter (OTC) sleep aids, and prescription medications, such as Eszopiclone and Ramelteon, are currently available across various countries.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What are the major market drivers in the Insomnia Market:
The increasing prevalence of social isolation, work challenges, and family obligations, owing to the sudden outbreak of the COVID-19 pandemic, is among the key factors stimulating the insomnia market. Apart from this, the rising incidences of stressful events that impact the sleep patterns of individuals are also propelling the market growth. Besides this, the inflating cases of medical conditions, such as chronic pain, cancer, diabetes, heart disease, asthma, gastroesophageal reflux disease (GERD), overactive thyroid, Parkinson’s disease, and Alzheimer’s disease, are further fueling the global market.
Additionally, hormonal shifts during the menstrual cycle and menopause can lead to the risk of developing insomnia, which is also driving the market growth. Moreover, the elevating investments in testing new treatments, interventions, and tests to prevent, detect, treat, and manage insomnia are expected to positively influence the insomnia market over the forecasted period.
Who Are The Major Players in Insomnia Market?
Astellas Pharma Inc.
Aurobindo Pharma Limited
Biocodex, Eisai Co. Ltd.
Mallinckrodt Pharmaceuticals
Merck & Co. Inc.
Neurim Pharmaceuticals Inc.
Pfizer Inc.
Sanofi S.A.
Sumitomo Dainippon Pharma Co. Ltd. (Sumitomo Chemical Co. Ltd.),
Takeda Pharmaceutical Company Limited
and Vanda Pharmaceuticals Inc.
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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Therapy Type:
Non-Pharmacological Therapy
- Hypnotherapy
- Cognitive Behavioral Therapy
- Medical Devices
- Others
Pharmacological Therapy
- Prescription Sleep Aids
- Over-The-Counter Sleep Aids
Breakup by Drug Class:
- Antidepressants
- Melatonin Antagonist
- Benzodiazepines
- Nonbenzodiazepines
- Orexin Antagonist
- Others
Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Pharmacies
By Geography:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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