Sleep Disorders Market Size to Witness Significant Growth 2017-2025
The sleep disorders market is anticipated to expand at a robust pace during the forecast period, owing to significant rise in the prevalence of sleep disorders. According to the American Sleep Association, in 2015, over 21% of women in the U.S. were suffering from obstructive sleep apnea and over 34% of men were suffering from sleep apnea. The increasing usage of social media and growing addiction of gadgets such as smartphones and laptops augment the market. In addition, the rise in public and private health coverage, covering the sleep clinics are fueling the market. Furthermore, ongoing research on ill-effects of sleep deprivation and the growing adoption of sleep clinics are boosting the market. However, increase in patent expirations, emergence of generics, and side-effects associated with sleep disorder drugs may hamper the market in the near future.
The global sleep disorders market can be segmented based on category, treatment, and region. Based on category, the market can be segmented into insomnia, hypersomnia, sleep apnea, sleep breathing disorders, circadian rhythm disorders, parasomnia, and sleep movement disorders. The hypersomnia segment includes insufficient sleep syndrome and narcolepsy. The circadian rhythm disorders segment can be sub-divided into delayed sleep–wake phase, shift work, non-24 hour sleep–wake rhythm, irregular sleep-wake rhythm, and others. The parasomnia segment can be sub-segmented into sleep eating disorder, sleep terror, REM sleep behavior disorder, and others. The sleep movement disorders segment can be further divided into restless leg syndrome, sleep leg cramps, and others. Based on treatment, the market can be segregated into psychiatric treatment, behavioral treatment, cognitive behavioral therapy, medication therapy, and others. Medications include prescription drugs, OTC drugs, and herbal drugs. Along with therapies, certain devices such as sleep apnea devices, sleep laboratories and mattresses, and pillows are employed in the treatment of sleep disorders.
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Geographically, the global sleep disorders market can be segmented into five regions: North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America accounted for the maximum share of the global market in terms of revenue in 2016 and the trend is anticipated to continue during the forecast period. Strong growth of the market in the region can be attributed to well-established health care infrastructure, rise in awareness among people, and increase in the prevalence of sleep disorders. Europe is expected to be the second leading market for sleep disorders. However, sluggish growth of the economy in the region is likely to negatively impact the market in Europe during the forecast period. The market in Asia Pacific is anticipated to register a significantly high CAGR during the forecast period, owing to factors such as increasing patient population and growing government focus on enhancing health care facilities in the region.
Leading players operating in the global sleep disorders market are GlaxoSmithKline plc, Becton Dickson and Company, Natus Medical Incorporated, Cardinal Health, Koninklijke Philips N.V., Teva Pharmaceutical Industries Ltd., and Takeda Pharmaceutical Company Limited.
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