PORTLAND, OR, UNITED STATES, September 9, 2024 /EINPresswire.com/ -- The global insomnia market, valued at $4.3 billion in 2020, is projected to reach $6.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 3.9% between 2021 and 2030. Insomnia, a widespread sleep disorder, affects millions worldwide by causing difficulty in falling or staying asleep, or waking up too early. The growing prevalence of this condition has driven significant demand for insomnia treatments.

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

• VIATRIS INC
• merck kgaa
• darmstadt
• germany
• Takeda Pharmaceutical Company Ltd
• CURRAX PHARMACEUTICALS LLC
• Pfizer Inc.
• EISAI
• zydus cadila
• Vanda Pharmaceuticals Inc.
• MINERVA NEUROSCIENCES INC
• Sanofi

𝐆𝐞𝐭 𝐚 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.alliedmarketresearch.com/request-sample/2373

Factors Driving Market Growth

Several key factors are fueling the growth of the global insomnia market. The rise in sleep disorders such as insomnia and parasomnias, coupled with mental health conditions like anxiety and depression, has significantly contributed to the market’s expansion. For instance, according to the World Health Organization (WHO), approximately 280 million people globally suffer from depression, a condition often linked to insomnia. Additionally, chronic diseases like cancer exacerbate sleep issues. Cancer treatments such as chemotherapy often cause side effects, including sleep disruption, further driving demand for insomnia therapies.

The increasing prevalence of work-related stress, coupled with irregular work schedules, is another major factor impacting sleep quality. Many industries, such as manufacturing and security, operate on 24-hour cycles, leading to odd shift patterns that disrupt sleep. This rise in work-related stress has further amplified the need for effective insomnia treatments.

Non-Pharmacological Therapies and Technological Advancements

While pharmacological therapies have traditionally dominated the insomnia market, non-pharmacological treatments are gaining traction. Cognitive behavioral therapy (CBT), hypnotherapy, and yoga are among the leading non-drug treatments, particularly as awareness about their long-term benefits grows. Non-pharmacological solutions are often preferred due to concerns about the side effects associated with prolonged use of sleep medications.

Technological advancements are also contributing to market growth. Wearable devices and mobile applications designed to track and improve sleep patterns have gained popularity. These tools provide real-time insights into sleep quality and offer personalized recommendations, making them valuable in managing insomnia.

New Product Launches and Innovations

The insomnia market has seen significant innovation, particularly with new product launches. In June 2021, Eisai Co., Ltd. introduced DAYVIGO (lemborexant), an orexin receptor antagonist, to treat insomnia in adults. Such developments are expected to drive market growth by offering more targeted and effective treatments.

Market Segmentation

The insomnia market is segmented by therapy type and region. On the basis of therapy type, the market is categorized into pharmacological and non-pharmacological therapies. Pharmacological therapies, including prescription and over-the-counter sleep aids, dominated the market in 2020, owing to the increasing prevalence of insomnia. However, non-pharmacological therapies, such as medical devices and CBT, are expected to witness substantial growth during the forecast period.

Regional Insights

North America held the largest share of the insomnia market in 2020, driven by a well-established healthcare infrastructure and a high incidence of work-related stress. The presence of numerous insomnia centers in the region further supports market growth. Meanwhile, the Asia-Pacific region is expected to register the highest growth rate, with a projected CAGR of 5.5% from 2021 to 2030. Factors such as a rising geriatric population, irregular work schedules, and an increasing demand for advanced healthcare solutions contribute to the region’s rapid expansion.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/2373

David Correa
Allied Market Research
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