The global Insomnia Therapeutics market size is expected to be worth around US$ 13.45 billion by 2030, according to a new report by Vision Research Reports.
The global Insomnia Therapeutics market size was valued at US$ 12.18 billion in 2020 and is anticipated to grow at a CAGR of 15.3% during forecast period 2021 to 2030.
Growth Factors
The market is primarily driven by the presence of patented molecules, potential clinical pipeline candidates, rising stress level, and increase in geriatric population who find it difficult to fall asleep. Increase in prevalence of insomnia & awareness about this condition and availability of safer drugs are anticipated to fuel revenue growth.
Insomnia is estimated to affect approximately 35% of the global population. Different patterns of the condition include difficulty in sleep initiation and maintenance, which is generally accompanied with frequent awakenings & awakening too early with trouble sleeping again. Long-term insomnia can hamper everyday life, which may result in nonproductive work hours. If left untreated, this condition may lead to severe depression and nervous breakdown of the patient.
Factors influencing insomnia therapeutics market growth include rising stress level, presence of patented molecules in the market, potential drugs in clinical pipeline, introduction of technologically advanced medical devices, and growing geriatric population. Growing awareness about the impact of sleep deprivation on everyday life is anticipated to increase adoption rate of various treatments for insomnia, which is expected to lead to revenue growth of the insomnia therapeutics market.
Currently, widely adopted treatment options for insomnia include generic nonbenzodiazepines and antidepressants even though other novel agents such as orexin antagonists and melatonin antagonists are available in the market. Launch of Eisai’s Lemborexant is expected to cater to unmet medical needs in this segment and fuel growth of this market over the forecast period. According to United Nations (UN) report in 2015, population in the age group of 60 years and above is projected to grow by 56% and is expected to reach around 1.4 billion by 2030. These statistics indicate the growing geriatric population. Since this population base is more susceptible to sleep deprivation, the demand for insomnia therapeutics is anticipated to increase.
Report Highlights
Global insomnia therapeutics market is segmented into following treatment types: drugs and devices. The drugs segment dominated the market in 2016 and accounted for nearly 99.0% of the total revenue and is expected to dominate throughout the forecast period. Primarily pharmaceuticals are used for the treatment of sleep disorders. Moreover, since medical devices for insomnia treatment have been introduced only recently, this segment is still at its nascent stage. As compared to devices, drugs have higher acceptability among physicians’ due to quick results and easy availability.
The drugs segment comprises various patented and generics. Patented drugs accounts for the largest share in terms of revenue in developed regions. On the other hand, generics & branded generics accounted for the largest revenue in developing and underdeveloped regions. Key reasons behind this difference are the presence of price-sensitive population in developing & underdeveloped countries and high cost of patented pharmaceuticals. Zolpidem comprises nearly 70% of the total insomnia treatment drugs, owing to its effectiveness and easy availability.
Low price and positive results of devices are expected to be the major factors promoting demand for devices. Although demand for devices is observed to be significantly low worldwide, insomnia therapeutic devices have started gaining traction in developed countries. Medical devices have benefits like the rapid onset of sleep and longer sleep maintenance among patients who have not achieved positive results through drugs. New devices such as Ebb Insomnia Therapy, Fisher Wallace Stimulator, and Alpha-Stim AID have already received approvals from FDA. Moreover, products such as Sana Sleep are awaiting approval. With the introduction of new therapeutic devices, the market is expected to witness robust growth over the forecast period.
The global demand for insomnia therapeutics has seen a paradigm shift due to rising awareness among patients. The prescription segment accounted for the largest share of over 79.2% of the total market revenue in 2016. This segment is expected to maintain its dominance throughout the forecast period owing to increase in use of prescription pharmaceutical. Moreover, the number of OTC products available is very small. Prolonged use of these drugs may lead to resistance. Hence, majority of the people suffering from sleep disorders seek professional help and use prescription products this segment is expected to grow at a CAGR of 6.4% over the forecast period.
OTC therapeutics comprise active ingredients such as melatonin, diphenhydramine, and tryptophan. Sales of these drugs are anticipated to grow due to the emergence of newer therapeutics with lesser adverse effects. In addition, as OTC drugs do not require prescription, these drugs are easily accessible to patients suffering from acute insomnia or those in early phases. With an increase in the number of such patients, the demand for OTC products is expected to grow.
However, use of these products for the treatment of target disease may have negative effects on patients. As there are no restrictions on the supply of OTC drugs, patients may regularly take medicines to induce sleep, which can lead to drug addiction. As prescription drugs are prescribed by physicians after evaluating a patient’s history and sleep disturbance pattern, people find the treatment procedure suggested by a physician to be highly reliable. Hence, majority of patients suffering from insomnia prefer prescription drugs over OTC, which is anticipated to result in growth of the insomnia therapeutics market.
North America was leading the insomnia therapeutics market and accounted for 54% of the total revenue share in 2016. Growing demand for sleep disorder treatment in the U.S. and Canada coupled with increasing prevalence of sleep disorders, increase in awareness, and high healthcare spending is anticipated to drive the market. Moreover, high prevalence of this disease among geriatric population and rapidly growing geriatric population in the U.S. are expected to be the key driving factors promoting demand. In addition, favorable reimbursement policies for therapeutic products, strong clinical pipeline, and rising stress level are other factors anticipated to promote revenue growth.
North America was followed by Asia Pacific, which accounted for 20.9% of the total market revenue in 2016. Japan has a major contribution to the market owing to high prevalence of target disease and it is estimated that one out of five people in Japan suffer from the same. Emerging economies such as India, China, and Indonesia have been using generics and branded generics due to the economic pricing of generic alternatives. Growing demand for new treatment options and rising prevalence is expected to drive growth during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period with a CAGR of 7.8% over the forecast period. Shift-work sleep disorder and increased stress level are expected to expand the patient base in Asia Pacific. These factors may contribute to the growing demand for drugs in these economies. In addition, constantly improving healthcare reimbursement policies are expected to boost demand over the forecast period.
Key Players
Takeda Pharmaceutical Company Ltd.; Vanda Pharmaceuticals; Merck & Co., Inc.; Pfizer Inc.; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Sumitomo Dainippon Pharma Co., Ltd; Sanofi; Paratek Pharmaceuticals Inc.; and Ebb Therapeutics.
Market Segmentation
Treatment Type Outlook
Drugs
Benzodiazepines
Nonbenzodiazepines
Antidepressants
Orexin Antagonists
Melatonin Antagonists
Others
Medical Devices
Sales Channel Outlook
Prescription
Over-the-Counter (OTC)
Regional Outlook
North America
The U.S.
Canada
Europe
Germany
The U.K.
Asia Pacific
China
Japan
Latin America
Brazil
Mexico
Middle East & Africa
South Africa
The Insomnia Therapeutics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Insomnia Therapeutics market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Insomnia Therapeutics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Insomnia Therapeutics market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Insomnia Therapeutics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Insomnia Therapeutics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Insomnia Therapeutics by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Insomnia Therapeutics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Insomnia Therapeutics market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Insomnia Therapeutics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Insomnia Therapeutics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Insomnia Therapeutics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Insomnia Therapeutics market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Insomnia Therapeutics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Insomnia Therapeutics market. These factors have benefited the growth of the global market for Insomnia Therapeutics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Insomnia Therapeutics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Insomnia Therapeutics are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers