Dublin, March 24, 2023 (GLOBE NEWSWIRE) -- The "Insomnia Therapies Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030" report has been added to ResearchAndMarkets.com's offering.
In 2020, the global market for insomnia was estimated to be worth US $4.5 billion and is expected to grow at a CAGR of 6.2% during the forecast period of 2022 to 2030.
It is anticipated that the strong demand will be fuelled by an increase in the launch of novel products over the course of the forecast period, the availability of a number of generic alternatives, increasing prevalence of insomnia and stress are the key factors that are driving the growth of insomnia therapies market. Insomnia is a frequent sleep problem that makes it difficult to fall asleep, difficult to stay asleep, or causes one to wake up too early and not be able to get back to sleep. It can also lead one to wake up too late and not be able to get back to sleep.
Stress, irregular sleep schedules, poor sleeping habits, mental health disorders such as anxiety and depression, physical illnesses and pain, medications, neurological problems, and specific sleep disorders are common causes of insomnia. Specific sleep disorders include restless leg syndrome, narcolepsy, and restless legs syndrome.
Increasing Prevalence of Multiple Conditions Leading to Insomnia
The increase in the prevalence of various types of sleep disorders, such as insomnia and parasomnias, as well as the rise in the incidence of mental depression and other painful illnesses, are the primary factors that are driving the expansion of the global market for insomnia. Sleep disturbances are a common symptom of mental depression.
For instance, according to the World Health Organization (WHO), there are around 280 million people all over the world who suffer from depression. As a result, a surge in the prevalence of mental depression among people all over the world leads to the expansion of the market for insomnia.
In addition, taking a certain drug for a prolonged period of time in order to treat a chronic condition can cause certain adverse effects, some of which are thought to damage the patient's ability to get quality sleep. This means that the expansion of the market is being driven by an increase in the prevalence of chronic diseases such as cancer.
As an illustration, the National Institute of Cancer (NIC) estimates that there will be 1,806,590 new cases of cancer diagnosed in the United States in the year 2020. Patients undergoing chemotherapy for cancer experience a variety of side effects, including diminished sleep quality.
The American Academy of Sleep Medicine 2020 reports that stress can lead to adjustment insomnia, a condition that affects around 20% of persons in the United States on an annual basis. In addition to this, research has shown that children who have bad sleeping patterns have an increased risk of developing behavioural insomnia, which can affect as many as thirty percent of all children.
The Stress in America survey conducted by the American Psychological Association (APA) found that Americans in 2020 assessed their levels of stress as 5.0 on a scale from 1 to 10, which is an increase from their rating of 4.9 in 2019. In addition, the levels of stress experienced by adults in the Gen Z generation have been on a small upward trend over the past two years, increasing from 5.6 in 2018 to 5.8 in 2019 and 6.1 in 2020.
Insomnia is almost never a standalone condition; rather, it is almost always accompanied by another ailment. The primary disorder, in which symptoms of sleeplessness may go unrecognised or untreated, is not the focus of current efforts to treat insomnia; rather, there is a movement to acknowledge chronic insomnia as an illness that requires therapy.
Patients who suffer from insomnia have a higher risk of developing psychiatric disorders such as anxiety and depression, as well as increased healthcare utilisation and costs, a lower quality of life, substance or alcohol abuse, poor occupational performance, and accidents. Patients also have a higher risk of being involved in automobile accidents.
The Orexin Antagonist Market Is Anticipated to Experience Growth
Fewer patients can benefit from several therapy options because of their diminished efficacy and potentially dangerous adverse effects. Suvorexant (MK-4305, manufactured by Merck) is the pioneering member of a new class of anti-insomnia medications known as ORAs (orexin receptor antagonists). By suppressing the neurons in the arousal system that are responsible for increasing awake, the tablets facilitate the normal shift from being unable to sleep to being able to sleep. Suvorexant promotes sleep onset, as well as sleep maintenance.
This one-of-a-kind option has restricted side effects and favourable permissibility standards, making it an attractive choice. Suvorexant is a powerful dual orexin receptor antagonist that blocks both the OX1R and OX2R receptors. It does this by binding to both of these receptors. It does this by inhibiting the binding of two neuropeptides called orexin-A and orexin-B, which are responsible for promoting wakefulness.
According to the research article titled "Evolution of Orexin Neuropeptide System: Structure and Function," which was published in the journal Frontier in Neuroscience in July of 2020, the perifornical lateral hypothalamus of the human brain is home to approximately 70,000 orexin neurons. These neurons are responsible for sending signals to other parts of the brain and spinal cord. Because it does not affect gamma-aminobutyric acid, the mechanism of action that suvorexant possesses is distinct from that of both benzodiazepines and non-benzodiazepines (GABA). It inhibits wakefulness as an alternative to putting one to sleep earlier in the day.
In the month of December 2019, the Food and Medication Administration (FDA) of the United States granted approval to Eisai's new drug application for DAYVIGO, an orexin receptor antagonist that was discovered and developed in-house (lemborexant). In adults, the treatment of insomnia that was characterised by difficulties with sleep onset and/or sleep maintenance, DAYVIGO was licenced for use as a medication. As a result of the developments connected with this category of medications, it is anticipated that this sector will experience consistent expansion over the course of the projection period.
Companies Mentioned
- Merck & Co.
- Ebb Therapeutics
- Paratek Pharmaceuticals Inc.
- Pfizer Inc.
- Sanofi SA
- Electromedical Products International Inc.
- Takeda Pharmaceutical Company Ltd.
- Teva Pharmaceutical Industries Ltd
- Cereve Inc.
- Mylan N.V.
- Sumitomo Dainippon Pharma Co. Ltd.
- Sanofi
- Paratek Pharmaceuticals Inc.
- and Ebb Therapeutics.
Historical & Forecast Period
This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.
Market Segmentation
Treatment
- Drugs
- Benzodiazepines
- Nonbenzodiazepines
- Antidepressants
- Orexin Antagonists
- Melatonin Antagonists
- Others
- Medical Devices
Sales Channel
- Prescription
- Over-the-Counter (OTC)
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Other Distribution Channels
Key questions answered in this report
- What are the key micro and macro environmental factors that are impacting the growth of Insomnia Therapies market?
- What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
- Estimated forecast and market projections up to 2030.
- Which segment accounts for the fastest CAGR during the forecast period?
- Which market segment holds a larger market share and why?
- Are low and middle-income economies investing in the Insomnia Therapies market?
- Which is the largest regional market for Insomnia Therapies market?
- What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- Which are the key trends driving Insomnia Therapies market growth?
- Who are the key competitors and what are their key strategies to enhance their market presence in the Insomnia Therapies market worldwide?
For more information about this report visit https://www.researchandmarkets.com/r/kd57lf
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