(MENAFN- EIN Presswire)
insomnia market size, share, forecast
PORTLAND, OR, UNITED STATES, October 4, 2024 /EINPresswire / -- The global insomnia market has seen notable growth and is poised to expand further over the coming decade. Here's a quick snapshot of the key trends driving the market:
.Market Overview:
.Valuation: $4.3 billion in 2020
.Projected Growth: Expected to reach $6.3 billion by 2030
.CAGR: Growing at 3.9% from 2021 to 2030
.Insomnia Overview:
.Insomnia is a sleep disorder characterized by difficulty in falling or staying asleep, or waking up too early without returning to sleep.
.Common Causes: Stress, irregular sleep schedules, mental health disorders (anxiety, depression), physical illnesses, medications, and other sleep disorders.
Get a Sample Copy of this Report:
Factors Driving Market Growth
.Increasing Prevalence of Sleep Disorders:
.Insomnia and parasomnias are becoming more common globally.
.Mental Depression: WHO reports 280 million people worldwide suffer from depression, contributing significantly to insomnia.
.Impact of Chronic Diseases:
.Patients with chronic conditions like cancer often experience sleep disturbances.
.For instance, 1.8 million new cases of cancer were diagnosed in the U.S. in 2020, and chemotherapy side effects are known to affect sleep quality.
.Work-Related Stress:
.High workloads and irregular work schedules (e.g., night shifts in manufacturing industries) are major contributors to insomnia.
.Advancements in Non-Pharmacological Therapies:
.Increasing demand for non-pharmacological treatments like yoga, hypnotherapy, and cognitive behavioral therapy (CBT).
.Insomnia centers and sleep diagnostic labs are on the rise, aiding market expansion.
Product Innovation & Launches
.Technological Advancements:
.Health tech such as mobile apps and sleep-tracking devices are increasingly used to monitor and improve sleep quality.
.Example: Eisai Co., Ltd. launched DAYVIGO (lemborexant), an orexin receptor antagonist for insomnia treatment in adults in 2021, a move expected to boost the insomnia treatment market.
Market Segmentation
.By Therapy Type:
.Pharmacological Therapy: Includes prescription and over-the-counter sleep aids.
.Non-Pharmacological Therapy: Hypnotherapy, CBT, medical devices, and other forms of therapy.
.By Region:
.North America: Dominates the market due to a high prevalence of insomnia and strong healthcare infrastructure.
.Asia-Pacific: Expected to witness the highest growth (CAGR of 5.5%) due to an increasing geriatric population and growing demand for sleep diagnostics.
Key Market Players
.Leading Companies: Minerva Neurosciences Inc., Currax Pharmaceuticals LLC, Eisai Co. Ltd., Merck & Co. Inc., Pfizer Inc., Sanofi, Takeda Pharmaceutical Company Ltd., Vanda Pharmaceuticals, Viatris (Mylan NV), and Zydus Cadila.
Future Outlook
.The market will see continued expansion due to rising awareness of mental health, work-life balance issues, and advancements in non-pharmacological treatment options. However, side effects associated with long-term use of sleep drugs might hinder growth to some extent.
Enquire Before Buying:
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN03102024003118003196ID1108745564
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.