Number of pages: 100 | Report Format: PDF | Published date: July 15, 2022
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global insomnia treatment drugs market was valued at US$ 2.92 billion in 2022 and is expected to register a revenue CAGR of 4.3% to reach US$ 4.27 billion by 2031.
Insomnia Treatment Drugs Market Fundamentals
Insomnia refers to a sleep disorder in which an individual has trouble 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. Researchers 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 is associated with sleep problems 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).
Insomnia Treatment Drugs Market Dynamics
Insomnia is a common sleep disorder affecting a large population worldwide. The rising prevalence of insomnia is a major driver for the growth of the insomnia treatment drugs market. According to Sleep Foundation 2023 report, it was estimated that 50 million to 70 million Americans suffer from chronic sleep difficulties. In the United States, 9% to 15% of individuals experience insomnia that interferes with their daily activities. Factors such as high-stress levels, lifestyle changes, and increasing awareness about sleep disorders contribute to the increased demand for effective treatment options.
According to a WHO report, there were 703 million individuals that were aged 65 years or over in the world in 2019. The number of aged people is projected to double to 1.5 billion in 2050. The global population is aging, and older adults are more susceptible to sleep disorders, including insomnia. As the elderly population grows, the demand for insomnia treatment drugs is expected to rise. This demographic trend is a significant driver for market growth.
Additionally, advancements in medical technology and research have led to the development of innovative treatment options for insomnia. For instance, introducing orexin receptor antagonists and other novel drugs has expanded the range of treatment choices available to healthcare professionals. Moreover, technological advancements contribute to the overall growth of the market by providing more effective and targeted therapies. In addition, modern lifestyles characterized by high levels of stress, irregular work schedules, and electronic device usage can significantly impact sleep patterns and contribute to insomnia. These lifestyle changes have led to an increased demand for effective insomnia treatment options, including pharmacological interventions. Since insomnia often coexists with mental health disorders such as anxiety, depression, and post-traumatic stress disorder (PTSD). As the prevalence of mental health disorders increases globally, the demand for effective treatment options for both the mental health condition and associated insomnia rises, driving the insomnia treatment drugs market.
However, continuous usage of insomnia drugs may cause addiction, dependency, and higher adoption of cheaper generic products, negatively affecting the revenue growth of the insomnia treatment drugs market. The 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 has been analyzed from the following perspectives: insomnia type, drug class, formulation, and region.
Insomnia Treatment Drugs Market by Insomnia Type
Based on the insomnia type, the global insomnia treatment drugs market is segmented into acute insomnia, chronic insomnia, onset insomnia, and others.
Acute insomnia accounts for a sizeable revenue share in the global market. Acute insomnia typically resolves on its own within a relatively short period. Therefore, the treatment approach for acute insomnia generally focuses on short-term interventions to address immediate sleep difficulties. This may involve using medications for a limited duration to help individuals overcome temporary sleep disruption. Acute insomnia is more common and frequently occurs in response to identifiable triggers such as stress, travel, changes in the sleep environment, or temporary life events. These triggers often lead individuals to seek immediate relief from their sleep difficulties, which can drive the demand for short-term insomnia treatment drugs. Acute insomnia may cause significant distress and impairment in daily functioning due to disrupted sleep.
Although cognitive-behavioral therapy for insomnia (CBT-I) is considered the gold standard for both acute and chronic insomnia, medication is often recommended for short-term use, especially if severe symptoms significantly impact daily functioning. Healthcare providers may be more inclined to prescribe medications for acute insomnia due to the immediate relief they can provide. Medications like sedative-hypnotics, which act quickly to induce sleep, may be prescribed for a limited period to address acute sleep difficulties.
Insomnia Treatment Drugs Market by Drug Class
Based on the product type, the global insomnia treatment drugs market is segmented into sedative–hypnotics, benzodiazepines receptor agonists, antidepressants, antihistamine, and others.
Sedative-hypnotics dominate the global market with the largest revenue share. Sedative-hypnotics have been used for decades in treating insomnia and have a long history of clinical use. They were among the first medications specifically developed for sleep disorders and have established themselves as effective options for short-term management of insomnia. Sedative-hypnotics are well-known among healthcare professionals, and a wealth of clinical experience and data support their use. This familiarity contributes to their widespread use in clinical practice. Sedative-hypnotics can treat various types of insomnia, including sleep-onset insomnia (difficulty falling asleep), sleep maintenance insomnia (difficulty staying asleep), and early morning awakening. They provide a general sedative effect that can help address multiple insomnia symptoms. Sedative-hypnotics are widely available and accessible in many countries. Healthcare professionals commonly prescribe them for short-term use in managing insomnia. Extensive marketing efforts and a large body of clinical data have made these medications familiar to healthcare providers and patients.
Insomnia Treatment Drugs Market by Formulation
Based on the formulation, the global insomnia treatment drugs market is segmented into tablets, capsules, and others.
Tablets account for the prominent revenue share in the global market. Tablets are a popular dosage form for convenience and ease of use. They are portable, compact, and can be easily swallowed with water. Tablets offer a precise and standardized dosage of medication. They are manufactured with specific strengths and dosages, ensuring accurate and consistent administration of the active ingredients. This allows healthcare professionals to prescribe the appropriate dose for their patients based on their individual needs. Tablets have a longer shelf life compared to other dosage forms, such as liquids or suspensions. Many insomnia treatment drugs are formulated in tablet form, which may contribute to their dominance in the market. Pharmaceutical companies develop and manufacture their products in tablet form due to various factors, including drug stability, ease of production, and patient preference. Tablets allow for accurate dosing as they are manufactured with precise amounts of the active ingredient. Tablets are relatively easy and cost-effective to manufacture in large quantities. This contributes to their widespread availability and accessibility in the global market, as pharmaceutical companies can produce tablets efficiently and meet the demand for insomnia treatment drugs.
Insomnia Treatment Drugs Market by Region
Based on the region, the global insomnia treatment drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America dominates the global market with more than 55.7% of revenue share in the global market in 2022. Insomnia is a widespread sleep disorder, and North America has a high prevalence of this condition. For instance, according to ‘The Good Body’ article of 2022, it was recorded that 50 and 70 million Americans are affected by insomnia each year. Factors such as high-stress levels, lifestyle changes, and an aging population contribute to the increasing prevalence of insomnia in the region. The larger affected population creates a significant market demand for insomnia treatment drugs. North America has a well-developed healthcare infrastructure, including a robust pharmaceutical industry, advanced research facilities, and many healthcare professionals specializing in sleep disorders. This infrastructure supports the development, production, and distribution of insomnia treatment drugs, leading to their dominance in the market.
North America is home to several major pharmaceutical companies that specialize in the development and manufacturing of sleep disorder medications. These companies invest heavily in research and development, clinical trials, and marketing activities, making their products prominent in the market. There is a strong emphasis on raising awareness about sleep disorders, including insomnia, in North America. Health insurance plans may cover insomnia treatment drugs, making them more accessible and affordable for patients. This contributes to the dominance of the market as it facilitates access to medications. North America is at the forefront of sleep disorder research and clinical trials. The region has numerous academic institutions, research organizations, and sleep centers conducting studies on insomnia and its treatment. This emphasis on research and development leads to introduction of new and innovative insomnia treatment drugs in the market. The regulatory environment in North America also plays a significant role in shaping the insomnia treatment drugs market.
The prominent players operating in the global insomnia treatment drugs market are:
Insomnia is a sleep disorder in which an individual has trouble falling or remaining asleep, which potentially causes serious health problems.
Pfizer Inc., Abbott Laboratories Inc., and Mylan N.V. (Viatris Inc.) are some of the major market players in the global insomnia treatment drugs market.
Side effects of the drugs and the addictive nature of the drugs are some of the restraints obstructing the growth of the global market.
The sedative – hypnotics segment dominates the global insomnia treatment drugs market.
The rise in mental health disorders and sedentary and stressful lifestyles are some of the major factors driving the global market.
*Insights on financial performance are subject to the availability of information in the public domain