Market Overview –
The Insomnia Market pertains to the segment of the healthcare industry focused on addressing sleep disorders, particularly insomnia. Insomnia is characterized by difficulty falling asleep, staying asleep, or experiencing non-restorative sleep, leading to daytime fatigue, irritability, and impaired functioning. This market encompasses a wide range of products and services aimed at diagnosing, treating, and managing insomnia to improve sleep quality and overall well-being.
One significant factor driving the growth of the Insomnia Market is the increasing prevalence of insomnia worldwide. Factors such as stress, lifestyle changes, shift work, and the rising prevalence of mental health disorders contribute to the growing incidence of insomnia among populations globally.
The insomnia market was valued at USD 1.5 billion in 2022 and is expected to expand from USD 1.55 billion in 2023 to USD 1.87 billion by 2030, with a compound annual growth rate (CAGR) of 3.20% over the forecast period (2023– 2030).
The Insomnia Market is growing, addressing the widespread prevalence of insomnia sleep disorder. With rising stress levels and lifestyle changes affecting sleep patterns, there's a heightened demand for effective insomnia treatments. Pharmacological interventions, cognitive behavioral therapy, and sleep hygiene practices are key components driving market growth, aiming to improve sleep quality and overall well-being.
Top Drivers and Impediments
Cases of insomnia have been escalating rapidly worldwide in line with surging stress levels and hypertension incidences. The burgeoning geriatric patient base along with the spike in the awareness level regarding all the treatment options available can also boost the revenue growth.
Frequent launches of novel products like Belsomra by Merck & Co. in 2014 should also drive market demand. Besides, the high availability of several generics should foster insomnia market’s growth during the review period. Lemborexant, which is a novel Orexin Receptor Antagonist developed by Eisai will be introduced in the early half of the forecast period, which could encourage further business growth.
The surging penetration of new devices and pharmaceuticals will be favorable for the global market. Around 10 million patients treated using pharmaceuticals have been reported unsatisfied. For these kinds of patients, combination drugs as well as devices are the top options, as these deliver the required results. The rising success rates associated with the use of combination of drugs and devices will present lucrative opportunities to the leading manufacturers in the years ahead.
Market Segmentation
To offer an extensive outline of the insomnia industry, MRFR has listed a few major segments including types of therapy, drug formulation as well as the type of diseases.
Depending on type of therapy, the market caters to pharmacological therapy and non-pharmacological therapy. The pharmacological therapy types are melatonin receptor agonists, non-benzodiazepines, benzodiazepines, and more. Melatonin receptor agonists are taken for balancing the body’s melatonin deficiency. Majority of the manufacturers are developing melatonin supplements that meet with the evolving consumer needs with respect to their convenience. As a result, the melatonin receptor agonists can gain immense traction in the next few years.
With respect to drug formulation, the global industry can be considered for Table, Capsules, and others.
In terms of the condition of diseases, the industry has been studied regarding sleep maintenance, poor quality of sleep, and others. Poor quality of sleep is a condition that is prevalent across multiple age groups and is now considered a global health epidemic. It is generally under-reported, unrecognized, and can lead to significant economic costs. Therefore, it is likely that the poor quality of sleep segment can claim the lead in the following years.
Regional Study
North America, Asia Pacific along with Europe, as well as the Rest of the World (RoW) are the m major markets for insomnia.
Escalating need for effective sleep disorder treatment across Canada and the US in line with the surging burden of insomnia has landed North America at the top position. Rising awareness along with significant healthcare spending could also favor the regional market. The condition is common among the elderly population and the growth in this demography across the region is bound to create growth avenues for the insomnia market in the following years. Additionally, supportive reimbursement schemes for insomnia therapeutic devices and a robust clinical pipeline could further encourage revenue growth. The rise in insomnia is also the result of the accelerated cases of cardio problems, hypertension, obesity depression, cancer, and more in the region.
The APAC market has been expanding rapidly, backed by Japan’s huge contribution where insomnia cases have been surging at an alarming rate. Other developing nations like India, Indonesia, and China are major consumers of generic drugs given their economic pricing. Rampant demand for new treatment lines combined with the surge in shift-work sleep disorders and resultant rise in stress levels have also burgeoned the patient base in the region. This could be a huge growth booster for the insomnia market in the years to come.
Key Companies –
Insomnia companies include Vanda Pharmaceuticals Inc. (US.), Neurim (Switzerland), Eisai, Co. (Japan), Purdue Pharma LP (US.), Merck & Co Inc (US.), Pfizer, Inc. (US.), Astellas (UK.), Flynn Pharma (UK.), Takeda Pharmaceutical Company (Japan), SkyePharma (UK.), Meda Consumer Healthcare Inc (US.), Sanofi (France), among others.
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