Insomnia Market Research Report

Insomnia Market Size:

The global insomnia market size reached US$ 5.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.6 Billion by 2032, exhibiting a growth rate (CAGR) of 2.69% during 2024-2032. Increasing prevalence due to modern lifestyles and stress, advancements in diagnostic technologies enhancing accuracy, robust research into novel therapies, rising healthcare expenditures, integration of digital health solutions, strategic industry collaborations, and growing consumer preference for non-pharmacological treatments are some of the factors bolstering the market growth.

Insomnia Market Analysis:

• Major Market Drivers: Burgeoning prevalence of sleeping disorders, especially among geriatric citizens, is one of the major factors driving insomnia market share. To counter the surging crisis, the key market players are introducing novel diagnostics, such as health apps and wearable devices, which is further impelling the market growth. The increasing insomnia population across the globe can be attributed to the escalating prevalence of anxiety, depression, and stress due to busy lifestyles, which is another factor contributing to the insomnia market growth. Moreover, key market players are also engaging in research and development (R&D) activities for the development of new diagnostics, which is stimulating the market growth. Other factors, including various government's initiatives for creating an increased awareness about mental health and easy availability of over-the-counter (OTC) sleeping aids, are bound to foster the market growth.
• Key Market Trends: The key trend for the insomnia market include the shifting preference towards non-pharmacological / minimal pharmacological interventions, such as cognitive-behavioral therapy for insomnia (CBT-I). The therapy is witnessing a growing popularity due to its strong efficacy data and low side effect profile. Apart from this, the trend towards digital health solutions, such as sleep tracking apps and telehealth consultations, and the availability of new ways to achieve targeted treatment and personalized-medical approaches are creating a positive outlook for the insomnia industry. Apart from this, the growing demand for wearables in sleep monitoring as it offers real-time data about sleep health is another factor fostering the market growth. Furthermore, the key market players are also integrating artificial intelligence (AI) and machine learning (ML) based insomnia detection to diagnose and treat insomnia accurately, which is bolstering the market growth.
• Geographical Trends: North America is the leading insomnia market worldwide owing to high healthcare expenditures, robust healthcare infrastructure, and large number of people suffering from sleep-disorders. Insomnia, in particular is a very common disorder especially among the American population due to certain lifestyle choices including high stress levels and long working hours. Moreover, the region is also backed by a huge number of top pharmaceutical manufacturers investing in R&D to develop advance sleep aids and therapies. Europe is anticipated to follow the North America closely with Germany and UK contributing significantly primarily due their strong healthcare systems as well as increased awareness regarding sleep health. Asia-Pacific is also experiencing market growth, owing to increasing healthcare spending, rising awareness about sleep disorders and growing geriatric population.
• Competitive Landscape: The competitive landscape of the market is characterized by the presence of key insomnia companies, such as 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, Vanda Pharmaceuticals Inc., etc.
• Challenges and Opportunities: Umpteen restrictions are projected to hinder the growth of insomnia market, which includes the risks of side effects and dependency for pharmacological treatments, which further highlights a preference towards non-drug therapies. Navigating the complex regulatory pathway and longer approval cycles can also slow down new therapeutic introduction, which is another restriction for the market. The market is also expected to grow by the rising demand of people seeking treatment for sleep disorders and the increasing stigma associated with getting diagnosed or taking medication. However, some of these challenges also represent opportunities for the market. The growing enthusiasm around digital health solutions creates a framework for the advancement of novel, non-pharmacological interventions. Furthermore, an awareness about the importance of sleep health offers opportunities for educational initiatives and wellness programs, which is favoring the insomnia market outlook.
   

Insomnia Market Trends:

Prevalence and Lifestyle Factors

A rising prevalence of insomnia across the globe due to the changing lifestyle patterns and societal stresses is a primary driver for the global insomnia market. According to industry reports, in the US, approximately 30% of adults have insomnia, with around 10% suffering from an insomnia that impairs their daily functioning. Sleep apnea prevalence among the general population is about 9%–38%. This can be attributed to the stressful modern lifestyles, long work hours, disrupted sleep patterns, and more exposure to bright screens before bedtime, which hinders the natural rhythm, further causing insomnia. Additionally, shifts in demographics that are moving towards more urban and industrialized lifestyles have further compounded matters leading to a larger section of the population suffering from sleep disorders.

Advancements in Diagnostic Technologies

The insomnia market is witnessing a significant thrust due to the growing consumer awareness regarding the accurate and effective diagnostic through the development of advanced technologies, such as portable sleep monitoring devices, polysomnography, and actigraphy, which help healthcare professionals get a holistic picture of patients' pattern of sleep and insomnia. These more elaborate diagnostic details give way to specific treatment plans, thus increasing patient satisfaction and outcomes. Moreover, the escalation of artificial intelligence (AI) and machine learning (ML) based algorithms to diagnose sleep disorders in sleep diagnostics holds promise for further refining diagnostic capabilities and predicting treatment responses, thus driving continual growth and innovation in the insomnia market.

Research and Development (R&D) of Novel Therapies

The continuous investments in pipeline research and development (R&D) to focus on new targeted therapies or drugs specifically designed for various subtypes of insomnia, represents one of the primary factors bolstering the market growth. New pharmacological agents are actively engaging in partnerships with pharmaceutical companies, research labs, and academic institutions to develop novel treatment options aimed toward resolving acute insomnia or chronic conditions. Furthermore, innovations in the fields of neuroscience and psychopharmacology have led to the discovery of novel targets and mechanisms of action, paving the way for innovative therapeutic approaches, which is further stimulating the market growth.

Insomnia Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on the therapy type, drug class, and distribution channel.

Breakup by Therapy Type:

• Non-Pharmacological Therapy
  • Hypnotherapy
  • Cognitive Behavioral Therapy
  • Medical Devices
  • Others
• Pharmacological Therapy
  • Prescription Sleep Aids
  • Over-The-Counter Sleep Aids
     

Pharmacological therapy accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the therapy type. This includes non-pharmacological therapy (hypnotherapy, cognitive behavioral therapy, medical devices, others) and pharmacological therapy (prescription sleep aids, over-the-counter sleep aids). According to the report, pharmacological therapy represented the largest segment.

The pharmacological therapy segment is driven by the increasing demand for effective treatments targeting insomnia's physiological mechanisms and symptomatology. Pharmaceutical innovations aimed at developing medications with improved efficacy and safety profiles play a crucial role in expanding this segment. Research into novel drug formulations and delivery methods, including sustained-release formulations and combination therapies, enhances treatment options. Moreover, the rising prevalence of insomnia globally, exacerbated by lifestyle changes and stressors, amplifies the need for pharmacological interventions that can efficiently address sleep disturbances. Strategic collaborations between pharmaceutical companies and research institutions accelerate drug development processes, driving market competitiveness. Regulatory approvals for new drugs and treatment modalities also stimulate segment growth by expanding market access and enhancing patient trust in therapeutic efficacy.

Breakup by Drug Class:

• Antidepressants
• Melatonin Antagonist
• Benzodiazepines
• Nonbenzodiazepines
• Orexin Antagonist
• Others
   

Benzodiazepines accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the drug class. This includes antidepressants, melatonin antagonist, benzodiazepines, nonbenzodiazepines, orexin antagonist, and others. According to the report, benzodiazepines represented the largest segment.

 The benzodiazepines segment is driven by the increasing demand for effective anxiolytics and sedatives across various medical and psychiatric conditions. Benzodiazepines are favored for their rapid onset of action and efficacy in managing anxiety disorders, insomnia, seizures, and muscle spasms, thereby sustaining their prominence in clinical practice. Moreover, the rising prevalence of anxiety disorders globally, compounded by lifestyle stressors and mental health awareness, fuels market growth. Additionally, the segment benefits from ongoing research and development efforts aimed at improving drug formulations to minimize side effects and enhance patient compliance. Regulatory approvals for new indications and formulations also bolster market expansion, ensuring broader accessibility and application in diverse healthcare settings. Furthermore, the aging population, particularly in developed regions, contributes significantly as older adults seek treatments for anxiety-related disorders and sleep disturbances.

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Drug Stores
• Online Pharmacies
   

The report has provided a detailed breakup and analysis of the market based on the distribution channel. This includes hospital pharmacies, retail pharmacies, drug stores, and online pharmacies.

The hospital pharmacies segment is driven by the increasing demand for specialized pharmaceutical services within healthcare facilities. These pharmacies play a crucial role in ensuring seamless medication management and distribution within hospitals, catering to inpatient and outpatient needs efficiently. Key drivers include the rising prevalence of chronic diseases requiring complex treatment regimens, which necessitate close coordination between healthcare providers and pharmacists. Additionally, advancements in hospital pharmacy automation and inventory management systems enhance operational efficiency and patient safety.

The retail pharmacies segment is driven by the increasing accessibility and convenience of healthcare services at local community settings. These pharmacies serve as accessible points of care (POC) for routine medication needs, preventive health screenings, and over-the-counter (OTC) products, catering directly to consumer demand. Key drivers include demographic trends such as aging populations requiring ongoing medication management and a shift towards self-care and wellness. Retail pharmacies also benefit from expanding healthcare insurance coverage and regulatory reforms promoting pharmacist-provided clinical services, enhancing their role in primary healthcare delivery.

The drug stores segment is driven by the increasing consumer preference for one-stop shopping experiences that combine pharmaceutical products with convenience goods. These stores offer a wide range of healthcare products, including prescription medications, over-the-counter treatments, and personal care items, appealing to consumers seeking convenience and affordability. Key drivers include strategic partnerships with healthcare providers and pharmaceutical manufacturers, which enhance product offerings and service delivery. Drug stores also benefit from location-based advantages in high-traffic areas and promotional strategies that promote health and wellness solutions.

The online pharmacies segment is driven by the increasing adoption of digital health solutions and e-commerce platforms, facilitating convenient access to medications and healthcare products. These pharmacies offer a diverse range of prescription drugs, over-the-counter medications, and health supplements, often at competitive prices and with home delivery options. Key drivers include the growing consumer demand for telemedicine services, which integrate online consultations with prescription fulfillment, enhancing accessibility and patient convenience. Online pharmacies also benefit from regulatory frameworks supporting virtual healthcare delivery and secure online transactions, ensuring patient safety and data privacy.

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

North America leads the market, accounting for the largest insomnia market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include 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 the Middle East and Africa. According to the report, North America accounted for the largest market share.

The North America regional market is driven by the increasing awareness and diagnosis of insomnia disorders, supported by robust healthcare infrastructure and diagnostic capabilities. The region's high prevalence of lifestyle-related factors such as stress, irregular work hours, and sedentary lifestyles contribute significantly to the rising incidence of sleep disorders. Moreover, the growing elderly population in North America, characterized by a higher susceptibility to insomnia, further propels market demand. Advances in medical research and technology within the region continuously enhance diagnostic accuracy and treatment efficacy, fostering innovation in therapeutic approaches. Additionally, the proactive regulatory environment and favorable reimbursement policies stimulate market growth by facilitating quicker approvals and broader patient access to treatment options. Collaborative efforts between healthcare providers, pharmaceutical companies, and research institutions drive the development of novel therapies and personalized medicine approaches tailored to address specific patient needs.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the insomnia 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, Vanda Pharmaceuticals Inc., etc.
  
  (Please note that this is only a partial list of the key players, and the complete list is provided in the report.)
   
• Key players in the insomnia market are actively engaged in a variety of strategic initiatives aimed at enhancing their market position and meeting evolving consumer demands. These initiatives include ongoing R&D efforts focused on discovering and developing new pharmacological treatments and therapies tailored to address different types and severities of insomnia. Additionally, players are investing in advanced diagnostic technologies to improve the accuracy of insomnia diagnosis, thereby enabling more personalized treatment approaches. Collaborations with healthcare providers and academic institutions are also common, facilitating the exchange of knowledge and the development of innovative treatment protocols. Furthermore, there is a growing emphasis on the integration of digital health solutions and telemedicine platforms to expand access to insomnia care and improve patient outcomes through remote monitoring and support services. Players are also navigating regulatory landscapes to secure approvals for new products and indications, ensuring compliance with evolving healthcare regulations. Market leaders are increasingly focused on sustainability and social responsibility initiatives, aligning their business strategies with broader environmental and community health goals.

Insomnia Market News:

• In 2023: Astellas Pharma announced a significant collaboration with Pfizer to advance the combination therapy of PADCEV™ (enfortumab vedotin) with KEYTRUDA® (pembrolizumab) for the first-line treatment of advanced urothelial cancer. This therapy has shown promise in improving overall and progression-free survival compared to standard platinum-containing chemotherapy. 
• In 2021: Merck launched the Merck Digital Sciences Studio (MDSS) to support early-stage biomedical startups. This initiative aims to foster innovation in drug discovery and development by providing startups with investment, access to Azure Cloud computing, and collaboration opportunities with Merck scientists. MDSS will prioritize startups developing AI and ML applications, offering resources and expertise to accelerate their technologies.

Insomnia Market Report Scope:

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the insomnia market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global insomnia market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the insomnia industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.