According to the latest report by IMARC Group, titled “Insomnia Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global insomnia market size reached US$ 5.1 Billion in 2022. Insomnia is a sleep disorder that affects a person's ability to fall asleep, stay asleep, or a combination of both. The condition of insomnia can be caused by another medical condition, or it can represent a symptom of a different medical condition. Symptoms of insomnia include difficulty falling asleep, staying asleep, waking up too early, or feeling unrefreshed after sleeping, as well as fatigue, irritability, and difficulty concentrating. This can lead to a variety of health problems, including depression and impaired cognitive function. There can be acute insomnia or chronic insomnia, characterized by episodes lasting a few days or weeks and chronic insomnia lasting a month or more. The causes of insomnia can range from medical conditions to lifestyle factors to psychological factors. In addition to behavioral therapy, medication, and lifestyle changes, insomnia can be managed with various treatments.
Global Insomnia Market Trends:
The global market is majorly driven by the growing prevalence of sleep disorders due to work-related stress, anxiety, and lifestyle changes among the masses. In line with this, a considerable rise in shift work and travel jet lag leading to the development of specific treatment options for these conditions is propelling the market growth. Moreover, the growing awareness regarding the negative impact of insomnia on productivity, health, and overall quality of life among the masses have augmented the demand for insomnia treatment options. In addition to this, continual technological advancements in treatment, such as wearable sleep trackers, online cognitive behavioral therapy, and other digital health solutions to facilitate easy access and sleep pattern monitoring, are leading to a higher uptake of insomnia diagnostics and therapeutics. The market is further driven by the easy availability of effective insomnia medications across online and offline organized pharmacy retail channels. Apart from this, the increasing geriatric population that is more susceptible to chronic insomnia and sleep disorders is creating a positive outlook for the market. Furthermore, the rising mental health awareness among the masses is resulting in a higher recognition of insomnia as a co-morbid condition, thereby fueling the market growth. Some of the other factors contributing to the market include the increasing hectic lifestyle of the masses, rising prevalence of numerous mental illnesses, growing medical expenditure, and extensive research and development (R&D) activities conducted by key players. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.1 Billion by 2028, exhibiting a CAGR of 3% during 2023-2028.
- Based on the therapy type, the market has been segmented into non-pharmacological therapy (hypnotherapy, cognitive behavioral therapy, medical devices, and others) and pharmacological therapy (prescription sleep aids and over-the-counter sleep aids).
- On the basis of the drug class, the market has been divided into antidepressants, melatonin antagonist, benzodiazepines, nonbenzodiazepines, orexin antagonist, and others.
- Based on the distribution channels, the market has been categorized into hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Astellas Pharma Inc., Aurobindo Pharma Limited, Biocodex, Eisai Co. Ltd., Mallinckrodt Pharmaceuticals, Merck & Co. Inc., Neurim Pharmaceuticals Inc., Pfizer Inc., Sanofi S.A., Sumitomo Dainippon Pharma Co. Ltd. (Sumitomo Chemical Co. Ltd.), Takeda Pharmaceutical Company Limited and Vanda Pharmaceuticals Inc.
|Base Year of the Analysis
| Historical Period
||Therapy Type, Drug Class, Distribution Channel, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Astellas Pharma Inc., Aurobindo Pharma Limited, Biocodex, Eisai Co. Ltd., Mallinckrodt Pharmaceuticals, Merck & Co. Inc., Neurim Pharmaceuticals Inc., Pfizer Inc., Sanofi S.A., Sumitomo Dainippon Pharma Co. Ltd. (Sumitomo Chemical Co. Ltd.), Takeda Pharmaceutical Company Limited and Vanda Pharmaceuticals Inc.
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