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Comprehensive Analysis of the Global Insomnia Market , a robust $4.3 billion industry in 2020, is poised for significant growth, projected to surge to $6.3 billion by 2030
Insomnia Market
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Market Drivers:
The market's expansion is propelled by the rising incidence of sleep disorders, mental health issues, and chronic conditions globally. Increased work-related stress, unconventional work schedules, and the proliferation of insomnia and sleep diagnostic centers further contribute to market growth. Non-pharmacological therapies such as hypnotherapy, yoga, and cognitive behavioral therapy gain prominence, aligning with the heightened focus on holistic well-being.
Technological Advancements:
Innovations in non-pharmacological therapies and product launches play a pivotal role in market dynamics. Eisai Co., Ltd.'s introduction of DAYVIGO, an orexin receptor antagonist for insomnia treatment, exemplifies the industry's commitment to technological progress. However, long-term use of anti-insomnia drugs poses challenges, and advancements in healthcare technologies, such as mobile phone software and health watches, further shape market demands.
Catalyst of Change:
The COVID-19 pandemic has introduced new dynamics, with stress and depression on the rise due to economic uncertainties. The coined term "coronosomnia" reflects the impact of pandemic-induced lifestyle stress on sleep patterns, augmenting the demand for insomnia treatment.
Segmentation Analysis:
The market is segmented into non-pharmacological therapy and pharmacological therapy. While pharmacological therapy currently dominates, the non-pharmacological therapy segment is anticipated to witness significant growth. Geographically, North America leads the market, driven by insomnia prevalence, work-related stress, and robust healthcare infrastructure. However, Asia-Pacific is poised for the highest CAGR, attributed to a growing geriatric population and unique work shift challenges.
Key Players:
Major industry players include Minerva Neurosciences Inc., Currax Pharmaceuticals LLC, Eisai Co. Ltd., Merck & Co. Inc., Pfizer Inc., Sanofi, Takeda Pharmaceutical Company Ltd., Vanda Pharmaceuticals, Viatris (Mylan NV), and Zydus Cadila.
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Comprehensive quantitative and qualitative insights at segment and sub-segment level
Covid 19 impact trends and perspective
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Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
Blanket coverage on competitive landscape
Winning imperatives
Exhaustive coverage on 'Strategic Developments' registered by leading players of the market
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