7 May 2019: Global Insomnia Therapeutics Market is anticipated to reach USD 3.45 billion by 2025. Insomnia Therapy implies different patterns of treatment to address trouble with respect to initiation as well as maintenance of sleep. These sleep disorders are termed as “Insomnia”. Insomnia results in non-productive work hours. If left untreated, this condition may lead to a nervous breakdown and/or depression in the patient. The symptoms include daytime sleepiness, low stamina, irritability, and depression. It is a dominant disorder that affects millions of people, globally.
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The factors that propel the growth of the Insomnia Therapeutics Market include growing medical strategies, increase in the number of mental disorders, rising aged population, and increasing stress level, introduction of technically advanced medical devices, and increasing awareness among people. On the other hand, there are factors that may hamper the growth of the market such as Insomnia therapeutic drugs may lead to several allergies, and the other side effects. Insomnia Therapeutics Market is anticipated to grow at a significant CAGR of 5.3% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Insomnia Therapeutics Market may be explored by therapy type, sale channel, and geography. The market may be explored by Therapy type as No benzodiazepines, Benzodiazepines, Antidepressants, Melatonin Antagonists, Orexin Antagonists, and Others, and Medical Devices. The “Drugs” segment dominated the Insomnia Therapeutics Market in 2016 and is anticipated to maintain its dominance by 2025 owing to higher acceptance of drugs as compared to devices, and due to easy availability and quick results.
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The market may be explored by sale channel as Prescription, and Over-the-Counter (OTC). The “Over-the-Counter (OTC)” segment dominated the Insomnia Therapeutics Market in 2016 and is anticipated to maintain its dominance by 2025 and accounted for approximately 79.2% of the total market revenue.
North America accounted for the major share of the Insomnia Therapeutics Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include growing aged population, high adoption of therapeutics for treatment, and increase in awareness about diseases. North America is followed by Asia-Pacific region.
Some of the key players that fuel the growth of the Insomnia Therapeutics Market comprise Sanofi, Pfizer, Inc., ECR Pharmaceuticals, Merck & Co. Inc., Pernix Therapeutics, Purdue Pharmaceuticals L.P., Eisai, Co. Ltd., Vanda Pharmaceuticals, Takeda Pharmaceutical Company Ltd., and Meda Consumer Healthcare Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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