Selbyville, Delaware, Jan. 12, 2022 (GLOBE NEWSWIRE) --
The sleep disorder market size is anticipated to record a valuation of USD 20.5 billion by 2027, according to the most recent study by Global Market Insights Inc. Rising awareness about sleep disorders and presence of advanced and effective diagnostic and therapeutic sleep devices will boost the market growth during the forecast timeline.
The increasing incidence of sleep disorders such as narcolepsy, insomnia, and obstructive sleep apnea is driving up demand for sleep testing devices. Also, the surging demand for non-invasive diagnostics are also gaining popularity since they allow for real-time illness identification. As a result, these medical tests are becoming more widely used in sleep centres, hospitals, and home care units in both developing and developed countries. The market expansion is likely to be fuelled by increased demand for sleep diagnostic tests during the forecast timeline.
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The insomnia segment held 20% of the sleep disorder market share in 2020 led by the increasing prevalence of insomnia in adults due to depression and stress. For instance, as per WHO 2021, report 5% of adults suffer with depression. Depression and post-traumatic stress are two of the prime causes of many sleep disorder symptoms. Also, increasing age and diabetes are significantly associated with insomnia.
The therapeutic segment in the sleep disorder market valued at USD 12.5 billion in 2020. The Demand for therapeutics is rising as there is surge in number of people suffering with sleep apnea. For instance, as per pubmed research report published in 2020, around one-seventh of total world’s adult population suffer with obstructive sleep apnea. To treat sleep apnea positive airway pressure machines that are used with breathing masks are the most widely accepted treatment option. The CPAP devices helps to keep upper airway passage open and thereby help patient to sleep better. Growing demand for PAP devices for sleep apnea treatment will foster the segment growth.
Asia Pacific sleep disorder market captured around 20% of revenue share in 2020. The region is witnessing high number of people suffering from sleeping disorder. For instance, the National Medical Journal of India stated that sleep disorders prevalence in India is high. The study showed that the percentage of insomnia patients is nearly 33% of adult population in India. Thus, the government is popularizing National Sleep Policy in India. It is conducting training of healthcare personnel in primary health centres to ensure early identification of sleep- related disorders and referral to higher centres for management. As a result, the growing regional demand for better diagnosis and treatment is expected to provide a significant push for industry growth. Furthermore, other factors such as rising knowledge about sleep problems, expanding healthcare infrastructure, and changing population lifestyle choices are poised to give substantial development possibilities for the market during the forecast period.
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Some of the prominent players operating in the sleep disorder market include, Astellas Pharma Inc, Cadwell Laboratories Inc., Cardinal Health, Compumedics Limited, Eisai Co Ltd, Evotec AG, Ferring International Center SA, GlaxoSmithKline plc, Heptares Therapeutics Ltd, Koninklijke Philips N.V., Natus Medical Incorporated, ResMed Inc., Somnetics International, Inc., Takeda Pharmaceutical Company Limited, Teleflex Inc., Teva Pharmaceutical Industries Ltd. These companies are implementing various growth strategies to sustain competition in industry.
Table of Contents (ToC) of the report:
Chapter 3 Sleep Disorder Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016 - 2027
3.3 Industry impact forces
3.3.1 Growth drivers
3.3.2 Industry pitfalls and challenges
3.4 Growth potential analysis
3.4.1 By disorder type
3.4.2 By product
3.5 COVID-19 impact analysis
3.6 Epidemiology and prevalence landscape
3.6.1 Obstructive sleep apnea (OSA)
3.6.2 Insomnia
3.6.3 Restless leg syndrome (RLS)
3.6.4 Narcolepsy
3.7 Porter’s analysis
3.8 Competitive landscape, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
