Home / Press Release / Insomnia Therapies Market to Grow at an Estimated CAGR of 6.2% During the Forecast Period 2022-2030

Insomnia Therapies Market to Grow at an Estimated CAGR of 6.2% During the Forecast Period 2022-2030

Insomnia therapeutics market was valued $4.5 billion in 2020 and is predicted to expand a a CAGR of 6.2% during the forecast period of 2022 to 2030.Insomnia is a condition that impacts approximately 3% of the population and can be brought on by taking prescribed medications, abusing substances, having a medical disorder, or having a mental health condition. Insomnia can have a variety of specific origins, including mental health conditions like depression or drug withdrawal, physical conditions like obesity, or blood disorders like anaemia.The launch of more novel medicines, the availability of generic alternatives, and the rising prevalence of insomnia and stress are expected to fuel the market's expansion. Insomnia makes it hard to fall asleep, stay asleep, or wake up early and fall back asleep. It can also cause late waking and trouble falling back asleep. Stress, irregular sleep schedules, poor sleeping habits, mental health disorders like anxiety and depression, physical ailments and pain, drugs, neurological abnormalities, and sleep disorders cause insomnia. Sleep problems include RLS, narcolepsy, and RLS.

As a result of the COVID-19 outbreak, people are more prone to experience stress and melancholy due to lower wages and job losses. As of December 19, 2021, the WHO reported more than 273 million COVID-19 cases and more than 5.3 million deaths. According to a BBC study published in January 2021, many people and healthcare workers had sleepiness during COVID-19 owing to stress. This is coronosomnia. The COVID-19 epidemic has led to a rise in mental tension and depression, which has boosted the market for insomnia therapies. The COVID-19 epidemic has affected sleep, according to the AASM Sleep Prioritization Survey 2020. 33% of adults experienced a change in sleep quality, 30% in their ability to fall asleep, and 29% in the amount of sleep they had each night. Females were more likely than males to say COVID-19 affected bedtimes (31% vs. 25%).

Insomnia, parasomnias, mental distress, and other painful conditions are driving the global market for insomnia. WHO estimates that 280 million individuals worldwide suffer from depression. As depression rates rise globally, the market for insomnia grows. Long-term usage of a certain drug to treat a chronic ailment might generate undesirable effects, some of which may impair sleep. This means chronic diseases such as cancer are driving market growth. The National Institute of Cancer (NIC) anticipates 1,806,590 new cancer cases in 2020. Chemotherapy side effects include poor sleep. Stress can cause adjustment insomnia, which affects 20% of Americans annually, according to the American Academy of Sleep Medicine 2020. Bad sleepers are more likely to develop behavioural insomnia, which affects 30% of kids.

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In 2020, Americans rated their stress at 5.0 on a scale from 1 to 10, up from 4.9 in 2019. Gen Z adults' stress levels have increased from 5.6 in 2018 to 5.8 in 2019 and 6.1 in 2020. Insomnia is nearly always accompanied by another illness. Current efforts to treat insomnia do not focus on the primary issue, in which sleeplessness symptoms may go unrecognised or untreated. Instead, there is a movement to recognise chronic insomnia as a disease that requires therapy. Insomnia patients are more likely to develop psychiatric problems including anxiety and depression, as well as higher healthcare costs, a poorer quality of life, substance or alcohol abuse, poor vocational performance, and accidents. Patients have a higher accident risk.

Several therapy options are less effective and have dangerous side effects, so fewer patients can benefit. Merck's Suvorexant (MK-4305) is the first in a new class of anti-insomnia drugs called ORAs (orexin receptor antagonists). By blocking awake-inducing neurons in the arousal system, the medications help people fall asleep. Suvorexant induces and maintains sleep. This unique solution has limited side effects and favourable permissibility norms. Suvorexant inhibits both OX1R and OX2R. Both receptors are bound. It inhibits the binding of wakefulness-promoting orexin-A and orexin-B.

The perifornical lateral hypothalamus of the human brain has about 70,000 orexin neurons, according to a 2020 Frontier in Neuroscience study. Neurons provide impulses to the brain and spinal cord. Suvorexant's mechanism of action differs from benzodiazepines and non-benzodiazepines because it doesn't impact gamma-aminobutyric acid (GABA). It reduces wakefulness to promote earlier sleep.In December 2019, the FDA approved Eisai's new medication application for DAYVIGO, an in-house produced orexin receptor antagonist (lemborexant). DAYVIGO was licenced to treat insomnia in adults with sleep onset and/or maintenance problems. Due to improvements in this category of pharmaceuticals, this industry is expected to grow over the forecast period.

Non-pharmacological sleep remedies and new insomnia products could boost the industry. Eisai Co., Ltd., a global leader that develops, produces, and markets novel life science products, launched DAYVIGO (lemborexant) for insomnia in adults in June 2021. Innovative therapeutics will likely expand the global market for insomnia treatments. In January 2022, the FDA approved Idorsia (IDIA.S) to treat adult insomnia. Two late-stage clinical trials showed statistically significant and clinically meaningful improvements in nighttime sleep quality and daytime functioning over time. However, sleeping pill side effects may hinder the global market for insomnia remedies. Insomnia drugs can induce hallucinations, nightmares, poor concentration, worsening sleep apnea, memory loss, light-headedness, sleepiness, dependence, addiction, and drug interactions. Most insomnia drugs cause daytime tiredness. 

Pharmaceuticals and medical devices make up the worldwide insomnia market. Pharmaceuticals accounted for 90.0% of market revenue in 2021. This tendency should continue. Because of greater patient understanding, global demand for insomnia therapy has shifted. Pharmaceuticals include patented and generic medications. Patented pharmaceuticals earn the most money in developed regions. In developing and undeveloped regions, generics and branded generics dominated revenue. Developing and underdeveloped countries have a price-sensitive populace, and patented pharmaceuticals are expensive. Because it's effective and widely available, zolpidem is 70% of all insomnia treatments.

Medical devices are projected to have the greatest CAGR. The market for medical gadgets to treat insomnia is still in its infancy. Unlike medical equipment, drugs produce faster results and are easier to obtain, thus doctors prefer them. Low cost and proven effectiveness are expected to drive demand. Insomnia treatment gadgets are gaining popularity in industrialised countries, despite limited demand worldwide. Patients who haven't had success with medications may benefit from medical devices' quick onset and prolonged sleep maintenance. FDA has already approved the Ebb Insomnia Therapy, Fisher Wallace Stimulator, and Alpha-Stim AID. Sana Sleep is awaiting clearance. New therapeutic devices are expected to boost the industry in the future years.

In 2021, prescriptions produced over 80% of market revenue. As prescription drug use rises, this sector is expected to remain dominating during the projected period. Melatonin, diphenhydramine, and tryptophan are OTC chemicals. New treatments with fewer adverse effects may enhance sales of these drugs. Early-stage or acute insomnia patients can buy over-the-counter remedies without a prescription. As the number of people with these disorders rises, over-the-counter medications may become more popular.

In 2021, North America contributed over 40% of market revenues. During the forecast period, the market is expected to be driven by the rising incidence and demand for sleep disorder treatment in the U.S. and Canada. According to a 2020 study by the American Academy of Sleep Medicine, 20% of U.S. people suffer from adjustment insomnia each year. Children with sleep problems are more likely to develop behavioural insomnia, which affects 30% of kids. In July 2019, Zydus Cadila released Ramelteon insomnia pills in the U.S. Eisai Co. Ltd. released DAYVIGO (lemborexant) CIV for insomnia in adults in June 2020. Sleep onset and/or maintenance problems define insomnia. These factors are expected to boost the North American market for insomnia remedies.

Asia Pacific had 22% of the market's sales in 2021. Because the target ailment affects 1 in 5 Japanese, Japan is responsible for a large amount of the market's growth. Because generic alternatives are more cost-effective, developing countries like India, China, and Indonesia have resorted to them. During the forecast period, demand for new treatments and rising prevalence are expected to fuel growth. Asia Pacific is expected to increase at a 7.5% CAGR throughout the forecast period. Shift-work sleep problem and increased stress are expected to expand Asia Pacific's patient base. Certain variables may be boosting illicit drug demand in these economies. Improving healthcare reimbursement rules should boost demand over the forecast period.

The market for insomnia therapeutics is fragmented due to presence of many generic manufacturers. Few market entrants sell branded medicines, yet price sensitivity is an issue in several underdeveloped nations. Major firms are also focusing on R&D for novel compounds to get a competitive edge and meet market demand. Merck & Co., Ebb Therapeutics, Paratek Pharmaceuticals Inc., Pfizer Inc., Sanofi SA, Electromedical Products International Inc., Takeda Pharmaceutical Company Ltd., Teva Pharmaceutical Industries Ltd Cerêve Inc., Mylan N.V., Sumitomo Dainippon Pharma Co., Ltd., Sanofi, and Ebb Therapeutics and Innovative Neurological Devices are major competitors in this market.

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