Global Insomnia Market: Snapshot
The global insomnia market is expected to witness a growth in the years to come on account of the increasing efficiency of drugs, brought by formulations that increase the bioavailability of a drug. New formulations for improving the efficacy of drugs will remain a key trend in the global insomnia market. Insomnia when suffered for a long period can result in hampering of the daily chores and after a point in life causes lack of alertness. Lack of alertness can be very dangerous as it may lead to accidents. Moreover, insomnia causes irritation and increases the stress level, which in turn can affect job, family life, and give less time for healthy or fun activities. All these factors are anticipated to create a heightened demand for insomnia treatment market. There are several drugs available in the market for the treatment of insomnia. However, prolonged use cause addiction and dependency. Thus, care must be taken to undergo treatment under medical supervision.
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The growing geriatric population is aiding the growth of this market. The high incidence of mental disorders and increasing stress levels among people worldwide is slated to fuel the demand for insomnia treatment drugs during the period from 2017 to 2025. It is not just the elderly population driving the demand for insomnia treatment drugs, but also, the younger population which is increasingly facing high stress levels, resulting in high rate of insomnia. The growing prevalence of chronic diseases such as Parkinson’s, Alzheimer’s, and cancer need sedatives, which is anticipated to be another factor fueling the growth of this market across the globe.
Global Insomnia Market: Overview
Disorders or diseases without absolute treatment have always been lucrative for the players, as it leaves ample of opportunity for innovative treatment programs and introduction of new drugs. Insomnia forms a similar condition, which is quite apparent across the world but no defined compound has yet been discovered that can cure it completely. Recently in March 2015, Merck introduced its new insomnia drug called Belsomra, which is presumed to be a highly successful compound and is gaining uptake, but justifiable results are still awaited. Benzodiazepines, Zaleplon, Zolpidem, Trazodone, and Tricyclic Antidepressants are some of the other new generation antidepressants. The benzodiazepine is class of drugs that is useful particularly for short term treatment option, and is frequently recommended to the geriatric as they are easily flushed-out from the body. Consequently, the global insomnia market, which involves pharmacological and non-pharmacological treatments, behavioral therapy, and hypnotherapy, is projected for a healthy growth rate during the forecast period of 2017 to 2025.
This report on the global market for insomnia is a qualitative and quantitative analysis of the current scenario and based on the factors that are expected to influence the growth rate, it estimates the future scenario until 2025. This market intelligence study also takes a note of the trends and opportunities available for the players to base their futuristic decisions on. The featured section on company profiles identities some of the prominent names in the market and overviews their market share, product portfolio and services provided, and recent strategic developments. The global insomnia market can be segmented on the basis of treatment into pharmacological treatments, which can be further sub-segmented into prescription sleep aids and over-the-counter sleep aids, and non-pharmacological treatments. The sub-segment of prescription sleep aids can be further divided into non-benzodiazepines, benzodiazepines, orexin antagonists, melatonin receptor antagonists, and other prescription sleep aids. Geographically, the report studies the opportunities available in the regions of North America, Europe, Asia Pacific, and Rest of the World.
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Global Insomnia Market: Trends and Opportunities
The launch of new drugs and rehabilitation services is the primary driver for the market. In addition to that, government support across various countries is now quite evident for the players to invest and indulge into the research and development of new drugs and diagnosis. However, factors such as erosion in branded drugs sales and escalating adoption of generics, which are cost efficient while providing equal efficacy in comparison to branded products, are expected to hinder the growth rate of the global insomnia market during the forecast period.
Based on treatment, over-the-counter (OTC) sleep aids sub-segment currently serves the maximum demand and is expected to remain most prominent over the course of the forecast period of 2017 to 2025 due to its greater efficacy than benzodiazepine and non-benzodiazepine drugs. The OTC sleep aids can be further segmented into melatonin, antihistamines, valerian roots, and other dietary and herbal supplements.
Global Insomnia Market: Regional Outlook
Currently, North America serves the maximum demand for insomnia treat when compared to the rest of the regions across the globe, which is primarily attributed to restless lifestyle in country-wide market of the U.S. However, urban population in the region of Asia Pacific, particularly the emerging economies of India and China, are exhibiting similar trends and hence are projected to be lucrative regional markets for insomnia over the course of the forecast period. Europe is expected to remain another fruitful regional market.
Companies mentioned in this research report
The report identifies several prominent companies currently functional in the global insomnia market including Merck & Co., Inc. (U.S.), Pfizer, Inc. (U.S.), Sanofi S.A. (France), Eisai Co., Ltd. (Japan), Meda Consumer Healthcare Inc. (U.S.), Pernix Therapeutics Holdings (U.S.), Takeda Pharmaceutical Company Ltd. (Japan), and Vanda Pharmaceuticals, Inc (U.S.).