Insomnia Treatment Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: July 15, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
|
Report Attribute |
Details |
|
Market Size Value in 2021 |
US$ 2.8 billion |
|
Revenue Forecast in 2030 |
US$ 4.05 billion |
|
CAGR |
4.2% |
|
Base Year for Estimation |
2021 |
|
Forecast Period |
2022-2030 |
|
Segments Covered |
Drug, Type of Insomnia, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, and the Rest of the World (RoW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global insomnia treatment drugs market was valued at US$ 2.8 billion in 2021 and is expected to register a revenue CAGR of 5% to reach US$ 4.05 billion by 2030.
Insomnia Treatment Drugs Market Fundamentals
Insomnia refers to a sleep disorder in which an individual experiences difficulty in falling or remaining asleep, which potentially causes serious health problems. According to the CDC (Centers for Disease Control and Prevention), adult individuals aged 18 to 60 needs at least 7+ more hours of sleep. Insomnia affects health, body energy level, work performance, mood, and overall quality of life.
Researches have found that insufficient sleep is linked to increased risks of developing type 2 diabetes and cardiovascular diseases, notably, hypertension, stroke, coronary heart disease, and irregular heartbeats. Sometimes, individuals experience acute insomnia that may last for days or weeks, and others may experience long-term (chronic) insomnia that may last for a month or more.
There are two types of insomnia: primary and secondary. Primary insomnia related to sleep problems is not linked to any other health condition or problem. Secondary insomnia is related to sleeping trouble due to underlying health conditions (such as asthma, arthritis, cancer depression, or heartburn), pain, medication, or substance use (alcohol or narcotics).
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Insomnia Treatment Drugs Market Dynamics
The revenue growth of the global insomnia treatment drugs market is driven by rising stress-related events, such as long hours of working, mental health, sensitivity to light and sound, changes in sleeping schedule, family history of insomnia, growing geriatric population, and increasing awareness about various treatment options.
However, continuous usage of insomnia drugs may cause addiction, dependency, and higher adoption of generic products that are available at a cheaper price negatively affecting the revenue growth of the insomnia treatment drugs market. Availability of alternatives to insomnia drugs, such as antipsychotics, tricyclic antidepressants, chloral derivatives, and herbal supplements, is restraining the market revenue growth.
Insomnia Treatment Drugs Market Ecosystem
The global insomnia treatment drugs market is analyzed based on four parameters: drug, formulation, type of insomnia, and region.
Insomnia Treatment Drugs Market by Drug
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Based on the drug, the global insomnia treatment drugs market is segmented into sedative-hypnotics, antidepressants, antihistamines, and others.
The sedative hypnotics segment is sub-segmented into barbiturates, benzodiazepines and nonbenzodiazepine hypnotics. The sedative hypnotics segment is leading the global insomnia treatment drugs market owing to increase in usage of these drugs in the treatment of various diseases, such as mental issues, psychotic disorders, sleep disorders, and Alzheimer's disease. Additionally, the instant therapeutic effect increases sleep duration and stops night awakenings, and these factors are contributing to the revenue growth of this segment.
Insomnia Treatment Drugs Market by Formulation
Based on the formulation, the insomnia treatment drugs market is segmented into tablets, capsules, and others.
The tablets segment accounts for the largest revenue share in the market and is expected to register the highest revenue growth during the forecast period. Drugs in tablet form are in high demand, as tablets are more stable than other drug formulations, easy to consume, have high dose accuracy, and have a low manufacturing cost.
The capsules segment is also expected to register growth at higher revenue CAGR in the next few years, owing to high usage of capsules to mask the taste and odor of API.
Insomnia treatment drugs market by Type of Insomnia
Based on the type of insomnia, the market is segmented into adjustment insomnia, behavioral insomnia of childhood, idiopathic insomnia, inadequate sleep hygiene, insomnia due to drugs or substances, medical conditions, or mental disorders, paradoxical insomnia, and psychophysiological insomnia.
The adjustment insomnia segment dominates the insomnia treatment drugs market with the largest revenue share. The high revenue growth of the segment can be attributed to increasing patient base, rampant work timings, mental health instability, stress, and hypertension issues among people from developed and developing countries.
Insomnia Treatment Drugs Market by Region
Based on the region, the global insomnia treatment drugs market is segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW).
North America leads the insomnia treatment drugs market in terms of revenue. The major driving factors for the dominance of this market include rising cases of sleeping disorders in this region and increase in awareness about the management of sleeping disorders. In May 2022, the U.S. Sleep Foundation stated that an average of 35.2% of all adults in the U.S. get sleep less than 7 hours per night. Increase in the product launches are expected to support the revenue growth of the insomnia treatment drugs market in North America.
Insomnia Treatment Drugs Market Competitive Landscape
The prominent players operating in the global insomnia treatment drugs market are:
Insomnia Treatment Drugs Market Strategic Developments
The global insomnia treatment drugs market was valued at US$ 2.8 billion in 2021.
The insomnia treatment drugs market is projected to reach US$ 4.05 billion by 2030.
Rising stress-related events, such as long hours of working, mental health, and sensitivity to light and sound are projected to drive the revenue growth in the global market.
Heptares Therapeutics (Sosei Group Corporation), Meda Consumer Healthcare Inc. (the U.S.), and Takeda Pharmaceutical Company Ltd. (Japan) are among the top players operating in the global insomnia treatment drugs market.
The global insomnia treatment drugs market is expected to register a revenue CAGR of 4.2% during the forecast period.
North America accounts for the largest revenue share of the global insomnia treatment drugs market,
*Insights on financial permanence is subject to availability of information in public domain