The global insomnia market was valued at $4.3 billion in 2020, and is projected to reach $6.3 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030Insomnia Market to Experience highest market share in North America owing high demand for over-the-counter (OTC) drugs
North America accounted for the maximum contribution to the total revenue generated, owing to the high prevalence rate of insomnia, presence of high disposable income, and high demand for over-the-counter (OTC) drugs.
Insomnia Market by Therapy Type (Non pharmacological Therapy, Pharmacological Therapy): Global Opportunity Analysis and Industry Forecast, 2020-2030 Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/2373
Drivers, Restraints, and Opportunities
The impact of the driving factors is expected to surpass the effect of restraints. Moreover, technological advancements have led to higher adoption rate and untapped markets in the developing economies are expected to provide new avenues for the growth of the insomnia market in the near future.
Key Benefits
This report entails a detailed quantitative analysis of the current market trends from 2016 to 2023 to identify the prevailing opportunities.
Market estimations are based on comprehensive analysis of the key developments in the industry.
The global market is comprehensively analyzed with respect to therapy type and geography.
In-depth analysis based on geography assists in understanding the regional market to assist in strategic business planning.
The growth strategies adopted by key manufacturers assist in understanding the competitive scenario of the market.
The COVID-19 outbreak is anticipated to have a positive impact on the growth of the insomnia market. The COVID-19 pandemic resulted in job losses for many workers as industries were not operating properly, which contributed in rise in stress in people. Furthermore, fear of the pandemic led to depression in some people gobally. Thus, increase in coronasomnia, a stress and depression associated with COVID-19 pandemic, surge the demand for insomnia drugs and drive the growth of the market. For instance, according to World Health Organization (WHO) report, as of 6 April 2022, there have been 492,189,439 confirmed cases of COVID-19 globally. In addition, according to a Sleep Foundation report published on March 2022, people and healthcare workers globally suffered with coronasomnia, which is insomnia associated with stress related to the COVID-19 pandemic.
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Insomnia Market Key Segments:
By Therapy Type
Non-pharmacological Therapy
Hypnotherapy
Cognitive Behavioral Therapy
Medical Devices
Other Non-pharmacological Therapy
Pharmacological Therapy
Prescription Sleep Aids
Over-the-counter Sleep Aids
The key companies profiled in the report include Merck & Co. Inc., Sanofi India Limited, Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Purdue Pharmaceuticals L.P., Eisai, Co. Ltd., Meda Consumer Healthcare Inc., Pernix Therapeutics, Vanda Pharmaceuticals, and ECR Pharmaceuticals.
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