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The Insomnia Therapeutics Market size is estimated to grow by USD 1.01 billion at a CAGR of 5.49% between 2022 and 2027.
There is a rising prevalence of insomnia across the globe. There are several factors that are resulting in the increasing prevalence of insomnia such as alterations in the way of life, including disturbed sleep habits, greater use of electronics before going to sleep, and high levels of stress. Other factors which are influencing insomnia can include medical problems, psychological illnesses, and specific drugs. As a result, there is an increasing demand for treatment of insomnia. The main advantage of therapeutics for insomnia is that it lessens its effects and enhances the quality of sleep. Some of the main examples of medications for insomnia include benzodiazepines, non-benzodiazepines, and orexin receptor antagonists.
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The drug segment is estimated to witness significant growth during the forecast period. The drug segment mainly comprises pharmaceutical drugs which are increasingly adopted to treat insomnia. These therapeutics can be classified into various classes, including sedative-hypnotics, benzodiazepines, non-benzodiazepines, melatonin receptor agonists, orexin receptor antagonists, and other medications.
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The drug segment was the largest segment and was valued at USD 2.32 billion in 2017. One of the main types of medication is sedative-hypnotics which essentially acts as a central nervous system (CNS) depressant and helps in inducing sleep. Some of the main sedative-hypnotics that are frequently administered for insomnia include barbiturates like secobarbital and pentobarbital. Another significant classification of medication that boosts the effects of gamma-aminobutyric acid (GABA), a neurotransmitter that has sedative, hypnotic, anxiolytic, and muscle-relaxing properties in the brain is benzodiazepines. Hence, the increasing adoption of such medication for the treatment of insomnia is expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The prescription segment mainly comprises a group of pharmaceuticals that are prescribed by medical practitioners to treat insomnia. Insomnia can be referred to as a sleep disorder which includes symptoms such as problems going to sleep, staying asleep, or both. As a result, it leads to insufficient sleep and impairment of daytime function. There is an increasing adoption of this segment to lengthen and increase the quality of sleep, helping people with insomnia get a good night's rest. Some of the main drugs that are included in this segment include benzodiazepines, nonbenzodiazepines, melatonin agonists, and orexin receptor antagonists. Factors such as consumer demand for safe and efficient therapeutics for insomnia, as well as ongoing efforts in research and development to create novel treatments, are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 60% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. Some of the main factors that are significantly contributing to the growth of the insomnia treatment market in North America are the high prevalence of insomnia and the growing awareness of its negative effects of insomnia on the health and well-being of people who suffer from it.
In addition, there is a significant availability of various forms of prescription drugs, over-the-counter (OTC) drugs, and non-drug treatments in the region. Some of the prominent market players in North America that offer insomnia therapeutics include Takeda Pharmaceutical Company Limited, Eisai Co., Ltd., Merck and Co., Inc., Sanofi S.A., and Purdue Pharma L.P. In addition, there is an increase in investments in R&D by these companies to offer the market new and enhanced insomnia treatments. Hence, factors such as the increasing prevalence of insomnia and the growing demand for effective treatments are expected to drive market growth in the region.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Astellas Pharma Inc: The company offers insomnia therapeutics namely Myslee tablets.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges.
A key factor shaping the market growth is the increased focus on non-pharmacological treatments. There is a growing popularity for non-pharmacological therapies for insomnia across the international markets. Factors such as the rising awareness of the significance of addressing the underlying causes of insomnia and increased worry over the potential side effects and hazards associated with pharmacological treatments are significantly contributing to this trend.
Moreover, there is an increasing demand for cognitive behavioral therapy for insomnia (CBT-I) which is one of the major non-pharmacological treatments. The essential purpose of CBT-I is to recognize and alter the behaviors and thinking processes that lead to sleep problems. The success rate in improving the quality of sleep and reducing the symptoms of insomnia is fuelling its adoption. Hence, such factors are positively impacting the market which in turn will drive the market trends during the forecast period.
Lack of awareness of insomnia as a disease is one of the key challenges hindering market growth. Some of the main obstacles faced by the market include the lack of understanding and stigma surrounding insomnia. In addition, several individuals are not aware of the seriousness of insomnia and how it can significantly impact their general health and well-being.
Moreover, a majority of the population tends to dismiss or overlook their sleeping troubles, considering them as minor inconveniences as opposed to major health risks. As a result, of such ignorance, it can lead to long-term effects on them and on society. Hence, such factors are negatively impacting the market which in turn will hinder the market growth during the forecast period.
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The market growth and forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
The Insomnia Therapeutics Market experiences robust growth driven by factors like rising stress levels and the American Academy of Sleep Medicine's (AASM) Sleep Prioritization Survey 2020 revealing concerns about adults' sleep quality and ability to fall asleep. Increased awareness about treatment options, highlighted by articles like those in Springer, counters misconceptions about insomnia's severity. Innovative products like Pear Therapeutics' FDA-authorized digital therapeutics, such as Somryst, offer promise for chronic insomnia, anxiety, and depression. The Orexin Antagonist Segment sees advancements with drugs like suvorexant, lemborexant, and daridorexant, targeting orexin-A and B neuropeptides, and regulating the arousal system. Companies like Idorsia Pharmaceuticals and Eisai Limited lead in product development, aiming to address insomnia disorder with effective and safe treatment options.
The market research and growth report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Insomnia Therapeutics Market Scope |
|
Market Report Coverage |
Details |
Page number |
151 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.49% |
Market growth 2023-2027 |
USD 1,002.93 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
5.15 |
Regional analysis |
North America, Asia, Europe, and the Rest of the World (ROW) |
Performing market contribution |
North America at 60% |
Key countries |
US, Canada, France, Germany, and Japan |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Astellas Pharma Inc., Aurobindo Pharma Ltd., Eisai Co. Ltd., Electromedical Products International Inc., Idorsia Pharmaceuticals Ltd., INNOVATIVE NEUROLOGICAL DEVICES LLC, Mallinckrodt Plc, MEDICE Arzneimittel Putter GmbH and Co. KG, Merck and Co. Inc., Minerva Neurosciences Inc., Neurim Pharmaceuticals Ltd., Pfizer Inc., Questex LLC, Sanofi, Sumitomo Pharma Co. Ltd., Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Vanda Pharmaceuticals Inc., and Viatris Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our market growth analysis report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Distribution Channel
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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