Insomnia Market Size to Hit US$ 6.6 Billion by 2032 | With a 2.69% CAGR

IMARC Group's report titled "Insomnia Market Report by Therapy Type (Non-Pharmacological Therapy, Pharmacological Therapy), Drug Class (Antidepressants, Melatonin Antagonist, Benzodiazepines, Nonbenzodiazepines, Orexin Antagonist, and Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Drug Stores, Online Pharmacies), and Region 2024-2032". The global insomnia market size reached US$ 5.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 2.69% during 2024-2032.

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Factors Affecting the Growth of the Insomnia Industry:

● Increasing Stress Levels:

High levels of stress can cause sleep disturbances, making it difficult for individuals to fall asleep or stay asleep throughout the night. This is leading to an increasing likelihood of developing insomnia. Prolonged exposure to chronic stress can result in persistent sleep problems. Individuals experiencing chronic stress are seeking medical help for their sleep issues, catalyzing the demand for insomnia treatments. Stress can cause anxiety and depression, both of which are risk factors for insomnia. The psychological toll of stress can lead individuals to seek therapy or medication to address their sleep difficulties.

● Aging Population:

Insomnia is more common among older adults. As the global population is aging, there is a higher overall prevalence of sleep disorders, including insomnia, which leads to a greater demand for treatment and management solutions. Aging is associated with changes in sleep patterns and sleep architecture. Older individuals often experience difficulties falling asleep, staying asleep, and maintaining deep sleep, which can contribute to the development or exacerbation of insomnia. Elderly individuals are more likely to have comorbid medical conditions, such as chronic pain, arthritis, and mental health disorders, which can increase the risk of insomnia.

● Technological Advancements:

Technological innovations are giving rise to wearable devices and smartphone applications that can track and monitor sleep patterns. These devices provide individuals with insights into their sleep quality and can detect issues like insomnia. As a result, more people are motivated to seek solutions for their sleep problems. Telemedicine and remote health monitoring technologies enable healthcare providers to assess and diagnose sleep disorders, including insomnia, without requiring in-person visits. This makes it easier for individuals to access medical advice and treatment recommendations.

Leading Companies Operating in the Global Insomnia Industry:

● Astellas Pharma Inc.
● Aurobindo Pharma Limited
● Biocodex
● Eisai Co. Ltd.
● Mallinckrodt Pharmaceuticals
● Merck & Co. Inc.
● Neurim Pharmaceuticals Inc.
● Pfizer Inc.
● Sanofi S.A.
● Sumitomo Dainippon Pharma Co. Ltd. (Sumitomo Chemical Co. Ltd.)
● Takeda Pharmaceutical Company Limited
● Vanda Pharmaceuticals Inc.

Explore full report with table of contents: https://www.imarcgroup.com/insomnia-market

Insomnia Market Report Segmentation:

By Therapy Type:

● Non-Pharmacological Therapy
● Hypnotherapy
● Cognitive Behavioral Therapy
● Medical Devices
● Others
● Pharmacological Therapy
● Prescription Sleep Aids
● Over-The-Counter Sleep Aids

Pharmacological therapy represented the largest segment as pharmaceutical medications are often the initial choice for treating insomnia, offering quick relief for individuals with sleep difficulties.

By Drug Class:

● Antidepressants
● Melatonin Antagonist
● Benzodiazepines
● Nonbenzodiazepines
● Orexin Antagonist
● Others

Benzodiazepines accounted for the largest market share due to their widespread use in insomnia treatment, as they are known for their sedative properties and ability to induce sleep in patients with sleep disorders.

By Distribution Channel:

● Hospital Pharmacies
● Retail Pharmacies
● Drug Stores
● Online Pharmacies

Based on the distribution channel, the market has been divided into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.

Regional Insights:

● North America (United States, Canada)
● Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
● Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
● Latin America (Brazil, Mexico, Others)
● Middle East and Africa

North America enjoys the leading position in the insomnia market on account of the high prevalence of sleep disorders, greater awareness, and access to healthcare services.

Global Insomnia Market Trends:

The prevalence of insomnia is increasing, driven by factors like stress, lifestyle changes, and an aging population, leading to a growing market for insomnia treatments and management solutions.

Ongoing technological innovations are resulting in the development of sleep-tracking devices, mobile apps, and digital therapies, providing individuals with tools to monitor and improve their sleep.

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