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Insomnia Market Share, Key Insights, Emerging Trends, Segmentation And Outlook By 2032
Insomnia Market Analysis
The Business Research Company's Insomnia Global Market Report 2023 identifies surge in work-related Stress as the major driver for the insomnia market's growth in the forecast period. Work-related Stress refers to harmful emotional and physical responses that occur when the work demands and pressures do not match the worker's resources, capabilities, or knowledge. Job stress can lead to poor health, including insomnia. Depending on the severity of insomnia, the patients are treated with drug or cognitive-behavioral therapies, among others. Thus, the surge in work-related Stress is boosting sales in the insomnia market.
The global insomnia market is expected to grow from $4.48 billion in 2022 to $4.72 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The insomnia market is expected to reach $5.72 billion in 2027 at a CAGR of 4.9%.
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Major competitors in the insomnia market are Pfizer Inc., Merck & Co Inc., Sanofi S.A., GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V.
A key trend in the insomnia market includes product innovation. Major companies operating in the insomnia therapeutics market are developing innovative treatments to sustain their position in the market. For instance, in April 2023, WELT, a Korea-based medical device company, received approval from the Ministry of Food and Drug Safety (MFDS) for its digital insomnia treatment device, WELT-I. WELT-I was designated as an innovative medical aimed at correcting behavioral, psychological, and cognitive factors that sustain or worsen insomnia. The device delivers treatment based on cognitive behavioral therapy (CBT) as a first-line treatment in clinical guidelines for insomnia. The device is classified as a software as a medical device (SaMD), improving insomnia by performing personalized sleep time, analyzing sleep disturbance habits, intervening in patient behavior to enhance sleep quality, and delivering relaxation therapy for eight weeks to reduce tension and anxiety.
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The insomnia market is segmented -
1) By Therapy Type: Non-Pharmacological Therapy, Pharmacological Therapy
2) By Drug Class: Anti-Depressants, Melatonin Antagonist, Benzodiazepines, Nonbenzodiazepines, Orexin Antagonist, Other Drug Classes
3) By Route Of Administration: Oral, Parenteral, Other Route Of Administration
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the insomnia market.
The Business Research Company's "Global Insomnia Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Insomnia Market Include:
1. Executive Summary
2. Insomnia Market Characteristics
3. Insomnia Market Trends And Strategies
4. Insomnia Market - Macro Economic Scenario
…….
32. Global Insomnia Market Competitive Benchmarking
33. Global Insomnia Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Insomnia Market
35. Insomnia Market Future Outlook and Potential Analysis
36. Appendix
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