In 2020, the global market for insomnia was estimated to be worth US $4.5 billion and is expected to grow at a CAGR of 6.2% during the forecast period of 2023 to 2030. It is anticipated that the strong demand will be fuelled by an increase in the launch of novel products over the course of the forecast period, the availability of a number of generic alternatives, increasing prevalence of insomnia and stressare the key factors that aredriving the growth of insomnia therapies market. Insomnia is a frequent sleep problem that makes it difficult to fall asleep, difficult to stay asleep, or causes one to wake up too early and not be able to get back to sleep. It can also lead one to wake up too late and not be able to get back to sleep. Stress, irregular sleep schedules, poor sleeping habits, mental health disorders such as anxiety and depression, physical illnesses and pain, medications, neurological problems, and specific sleep disorders are common causes of insomnia. Specific sleep disorders include restless leg syndrome, narcolepsy, and restless legs syndrome.
Impact of Covid-19 Has Changed the Sleeping Patterns
People are more likely to experience stress and sadness as a result of the COVID-19 epidemic since it led to decreased salaries and wages for workers and caused a large number of workers to lose their employment. For example, as of December 19, 2021, the World Health Organization (WHO) stated that more than 273 million instances of COVID-19 had been diagnosed and more than 5.3 million deaths had been documented globally as a result of COVID-19. In addition, according to a research that was published by the British Broadcasting Corporation (BBC) in January 2021, a large number of people and healthcare staff developed sleeplessness during COVID-19 due to the stress of their lifestyles. This condition is also known as coronosomnia. As a result of the COVID-19 epidemic, an increase in mental stress and despair has led to a boom in the demand for treatments for sleeplessness, which in turn has had a favourable impact on the market.According to the results of the Sleep Prioritization Survey 2020 conducted by the American Academy of Sleep Medicine (AASM), the COVID-19 pandemic has had an effect on sleep. The survey found that approximately one third of adults (33%) noticed a change in the quality of their sleep, 30% noticed a change in their ability to fall asleep, and 29% noticed a change in the amount of sleep they got each night. In addition, females were found to be more likely than males to claim that bedtimes had been influenced by the COVID-19 pandemic (31% versus 25% respectively).
Increasing Prevalence of Multiple Conditions Leading to Insomnia
The increase in the prevalence of various types of sleep disorders, such as insomnia and parasomnias, as well as the rise in the incidence of mental depression and other painful illnesses, are the primary factors that are driving the expansion of the global market for insomnia. Sleep disturbances are a common symptom of mental depression. For instance, according to the World Health Organization (WHO), there are around 280 million people all over the world who suffer from depression. As a result, a surge in the prevalence of mental depression among people all over the world leads to the expansion of the market for insomnia. In addition, taking a certain drug for a prolonged period of time in order to treat a chronic condition can cause certain adverse effects, some of which are thought to damage the patient's ability to get quality sleep. This means that the expansion of the market is being driven by an increase in the prevalence of chronic diseases such as cancer. As an illustration, the National Institute of Cancer (NIC) estimates that there will be 1,806,590 new cases of cancer diagnosed in the United States in the year 2020. Patients undergoing chemotherapy for cancer experience a variety of side effects, including diminished sleep quality. The American Academy of Sleep Medicine 2020 reports that stress can lead to adjustment insomnia, a condition that affects around 20% of persons in the United States on an annual basis. In addition to this, research has shown that children who have bad sleeping patterns have an increased risk of developing behavioural insomnia, which can affect as many as thirty percent of all children.
The Stress in America survey conducted by the American Psychological Association (APA) found that Americans in 2020 assessed their levels of stress as 5.0 on a scale from 1 to 10, which is an increase from their rating of 4.9 in 2019. In addition, the levels of stress experienced by adults in the Gen Z generation have been on a small upward trend over the past two years, increasing from 5.6 in 2018 to 5.8 in 2019 and 6.1 in 2020. Insomnia is almost never a standalone condition; rather, it is almost always accompanied by another ailment. The primary disorder, in which symptoms of sleeplessness may go unrecognised or untreated, is not the focus of current efforts to treat insomnia; rather, there is a movement to acknowledge chronic insomnia as an illness that requires therapy. Patients who suffer from insomnia have a higher risk of developing psychiatric disorders such as anxiety and depression, as well as increased healthcare utilisation and costs, a lower quality of life, substance or alcohol abuse, poor occupational performance, and accidents. Patients also have a higher risk of being involved in automobile accidents.
The Orexin Antagonist Market Is Anticipated to Experience Growth
Fewer patients can benefit from several therapy options because of their diminished efficacy and potentially dangerous adverse effects. Suvorexant (MK-4305, manufactured by Merck) is the pioneering member of a new class of anti-insomnia medications known as ORAs (orexin receptor antagonists). By suppressing the neurons in the arousal system that are responsible for increasing awake, the tablets facilitate the normal shift from being unable to sleep to being able to sleep. Suvorexant promotes sleep onset, as well as sleep maintenance. This one-of-a-kind option has restricted side effects and favourable permissibility standards, making it an attractive choice.Suvorexant is a powerful dual orexin receptor antagonist that blocks both the OX1R and OX2R receptors. It does this by binding to both of these receptors. It does this by inhibiting the binding of two neuropeptides called orexin-A and orexin-B, which are responsible for promoting wakefulness.
According to the research article titled "Evolution of Orexin Neuropeptide System: Structure and Function," which was published in the journal Frontier in Neuroscience in July of 2020, the perifornical lateral hypothalamus of the human brain is home to approximately 70,000 orexin neurons. These neurons are responsible for sending signals to other parts of the brain and spinal cord. Because it does not affect gamma-aminobutyric acid, the mechanism of action that suvorexant possesses is distinct from that of both benzodiazepines and non-benzodiazepines (GABA). It inhibits wakefulness as an alternative to putting one to sleep earlier in the day.
In the month of December 2019, the Food and Medication Administration (FDA) of the United States granted approval to Eisai's new drug application for DAYVIGO, an orexin receptor antagonist that was discovered and developed in-house (lemborexant). In adults, the treatment of insomnia that was characterised by difficulties with sleep onset and/or sleep maintenance, DAYVIGO was licenced for use as a medication.As a result of the developments connected with this category of medications, it is anticipated that this sector will experience consistent expansion over the course of the projection period.
Increasing Innovations Compelling the Market Growth
It is projected that developments in non-pharmacological therapies for sleep and new product launches in the field of insomnia would contribute to the growth of the market. For example, in June 2021, Eisai Co., Ltd., a global leader that develops, manufactures, and markets a broad range of innovative life science products, announced the launch of DAYVIGO (lemborexant), which is an orexin receptor antagonist used for the treatment of insomnia in adults.The global market for insomnia treatments is anticipated to expand as a result of the regular introduction and approval of innovative therapies. Idorsia (IDIA.S), for example, was granted approval by the Food and Drug Administration (FDA) of the United States in January 2023 in order to be used as a treatment for insomnia in adult patients. The drug was given approval in doses of 25 mg and 50 mg after the results of two late-stage clinical trials demonstrated statistically significant and clinically meaningful improvements in the quality of sleep experienced during the night and in daytime functioning over the course of an extended period of time.
Insomnia is characterised by difficulties with sleep onset and/or sleep maintenance. DAYVIGO (lemborexant) is an orexin receptor antagonist. It is anticipated that this aspect will fuel the expansion of the market for insomnia treatments. However, the negative consequences that come with taking anti-insomnia medication for an extended period of time are a barrier to the market's expansion. Additionally, the development of cutting-edge technology in the healthcare and leisure sectors contributes to an increase in the demand for a market share of the insomnia industry. There has been recent development in mobile phone software as well as in health watches, both of which are now available on the market. These innovations are intended to record and aid users with their sleeping patterns. These highly developed pieces of software have made a noticeable influence on user diagnosis and support with sleep. As a result, the convenient availability of such technologically advanced software and equipment is a factor that helps to the expansion of the industry.It is projected that the creation of new technologies and the introduction of medical equipment will fuel the expansion of the market. Only a select few medical devices, such as the EBB Insomnia Therapy, the Fisher Wallace Stimulator, and the Alpha-Stim AID, have been granted approval in the recent years. It is anticipated that these devices will have higher market penetration as a result of favourable reimbursement policies and the adoption of device-drug combination therapies for the treatment of insomnia.
Side Effect of Insomnia Medications Limiting the Consumption
The typical adverse effects of sleeping pills are anticipated to be a factor that may slow the expansion of the market for insomnia treatments worldwide. Insomnia medications, for instance, are known to cause a variety of unpleasant symptoms, some of which are well-known and recognisable, such as hallucinations and nightmares, poor concentration, worsening sleep apnea, memory loss, light-headedness, drowsiness, dependence on the medication, addiction to the medication, and interactions with other medications. The most common adverse effect of medications used to treat insomnia is daytime sleepiness.
Increasing Awareness Level to Expand Opportunities
An increase in patient awareness regarding the many available treatment choices is anticipated to present considerable expansion potential for players operating in the global insomnia treatment market. For example, on June 22, 2023, the American Academy of Sleep Medicine (AASM) and the Society of Behavioural Sleep Medicine (SBSM) hosted an event called Insomnia Awareness Night in an effort to increase public awareness of insomnia, which is one of the most frequent sleep disorders.
Developing Economies Promising Significant Opportunities During Forecast Period
During the forecast period, it is anticipated that developing nations such as China and India would experience an increase in the need for healthcare facilities as well as sleep aids. This would eventually result in the creation of a number of opportunities for leading manufacturers who have plans to expand their operations into these regional markets and acquire higher market shares.
Insomnia Drugs will Continue to Dominate the Market
The global market for insomnia therapeutics may be broken down into the following treatment types: pharmaceuticals and medical devices. In 2021, the pharmaceuticals segment was the most dominant segment of the market, accounting for approximately 90.0% of the total revenue. This trend is projected to continue throughout the forecast period. A paradigm shift has occurred in the global demand for insomnia therapy as a direct result of increased levels of knowledge among patients. The pharmaceuticals sector includes a wide variety of patented and generic drugs. In developed regions, the greatest proportion of total revenue is generated by patented pharmaceutical products. On the other hand, generics and branded generics accounted for the lion's share of revenue in developing and underdeveloped regions. The presence of a population that is sensitive to pricing in developing and impoverished countries, as well as the high cost of patented drugs, are two key factors that contribute to this discrepancy. Because of its efficiency and widespread availability, zolpidem accounts for roughly 70% of all medications prescribed for the treatment of insomnia.
Medical Device Segment to be the Growth Leader
Medical devices segment is expected to grow at the highest CAGR during the forecast period. Considering that medical devices for the treatment of insomnia have only been developed relatively lately, this market is still in its infant stage. When opposed to medical equipment, medications have a better level of acceptance among physicians due to the fact that they produce outcomes more quickly and are easier to obtain.The relatively low cost of the devices and their demonstrated effectiveness are anticipated to be the primary drivers of demand for the devices. Insomnia therapeutic devices have started gaining traction in developed countries, despite the fact that demand for devices is observed to be significantly low everywhere else in the world. Patients who have not been successful in achieving positive results through the use of drugs may benefit from the rapid onset of sleep provided by medical devices as well as the longer sleep maintenance that these devices provide. The Food and Drug Administration (FDA) has previously granted approval to a number of novel medical devices, including the Ebb Insomnia Therapy, the Fisher Wallace Stimulator, and the Alpha-Stim AID. In addition, products like Sana Sleep are still pending clearance at this time. Over the course of the forthcoming time period, the market is anticipated to experience robust growth as a result of the launch of new therapeutic devices.
Prescription Segment to Dominate the Market Revenues
In 2021, the prescription segment generated more than 80% of the total revenue from the market. As a result of rising rates of prescription drug consumption, it is anticipated that this sector will continue to hold a dominant position throughout the duration of the forecast period.Melatonin, diphenhydramine, and tryptophan are examples of active chemicals that can be found in over-the-counter medicines. It is anticipated that there will be an increase in sales of these medications as a result of the development of more recent therapeutics that have fewer negative side effects. Patients who are in the early stages of insomnia or who are suffering from acute insomnia have easy access to these drugs because they do not require a prescription to purchase over-the-counter medications. It is anticipated that there would be a rise in the demand for over-the-counter treatments as the number of people with these conditions continues to rise.
North America Remains as the Global Leader, APAC Emerges as Growth Leader
North America dominated the market in terms of revenues in 2021, by a revenue contribution of over 40%. During the forecast period, the market is anticipated to be propelled forward by factors such as the expanding demand for treatment of sleep disorders in the United States and Canada, as well as the rising incidence of sleep disorders. Stress can trigger adjustment insomnia, which can impact up to 20% of adults in the U.S. each year, according to a study that was published in 2020 by the American Academy of Sleep Medicine. Children who have trouble falling or staying asleep have a greater risk of developing behavioural insomnia, which affects 30% of all children. Zydus Cadila introduced Ramelteon pills, which are intended to treat insomnia, to the market in the United States in the month of July 2019. In a similar vein, Eisai Co. Ltd. introduced the orexin receptor antagonist DAYVIGO (lemborexant) CIV in June 2020 for the treatment of insomnia in adults. Insomnia is defined by difficulties with sleep onset and/or sleep maintenance. It is anticipated that the proliferation of these various elements would propel the expansion of the market for insomnia treatments in North America.
Asia Pacific held the second largest position, accounting for 22% of the total market revenue in 2021. Because of the high frequency of the target condition in Japan, which is projected to affect 1 out of every 5 persons in that country, Japan is responsible for a significant portion of the market's growth. Because of the more cost-effective nature of generic alternatives, developing countries such as India, China, and Indonesia have increasingly turned to the use of generics as well as branded generics. It is anticipated that during the period of forecast, growth will be driven by increased demand for innovative treatment alternatives as well as rising prevalence.With a compound annual growth rate (CAGR) of 7.5% during the forecast period, it is predicted that Asia Pacific will experience profitable growth over the course of the projection period. It is anticipated that the patient base in the Asia Pacific region will grow as a result of shift-work sleep disorder and increased levels of stress. It's possible that these factors are helping to drive up demand for illicit substances in these economies. In addition, demand is anticipated to increase over the forecast period as a result of continuously improving policies regarding healthcare reimbursement.
Low Entry Barriers to Attract New Players Further Intensifying the Competition
Because of the presence of a large number of generic producers, the market for insomnia treatments remains fragmented. A small number of market participants currently offer branded medicine options; nonetheless, price sensitivity is an issue in a number of developing nations. In addition, major manufacturers are concentrating their efforts on the research and development of new molecules in order to achieve a competitive advantage and satisfy the significant unmet demand in the market. Merck & Co., Ebb Therapeutics, Paratek Pharmaceuticals Inc., Pfizer Inc., Sanofi SA, Electromedical Products International Inc., Takeda Pharmaceutical Company Ltd.,Teva Pharmaceutical Industries LtdCerêve Inc.,Mylan N.V., Sumitomo Dainippon Pharma Co., Ltd., Sanofi, Paratek Pharmaceuticals Inc., and Ebb Therapeutics and Innovative Neurological Devices are the primary competitors in this market.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Insomnia Therapies market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
