Insomnia Market Size, Status, Dynamic, Growth, Share And Foresight 2019-2028
Insomnia, commonly known as sleeplessness or sleep deprivation, is a disorder wherein an individual is either unable to sleep or sleeps only partially or without adequate sleep. Insomnia affects quality of life and thought process as you feel unwell mentally and physically. Insomnia can affect people of any age and gender; however, it is more common in adult females and seriousness may increase during pregnancy, baby blues, and menopause. Insomnia is categorized into three types depending on the duration of the disorder, namely transient (few days), acute (few weeks), and chronic insomnia (few months or even years). Treatment of insomnia is given on the basis of condition or severity of disease. Common symptoms include obesity, concentration problems, reduced reaction time, memory related problems, poor immune system, daytime sleepiness, mood swings, anxiety, depression, and irritability.
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Some causes of insomnia disorder include to disruption in circadian rhythm, chronic pain, hyperthyroidism, psychological stress, etc. Moreover, excessive use of drugs, such as caffeine, alcohol, and nicotine could lead to insomnia. These causes are the driving factors for growth of the global insomnia market. Other factors include technological advancements, rising demand for over-the-counter sleep aids, stressful lifestyle, job with extended periods of night shifts, environmental noise, extreme hot or cold conditions, hormonal changes, increasing number of mental disorders, Alzheimer’s and Parkinson’s disease, and sleeping next to snoring partner.
However, lack of awareness and education, and challenges in providing low-cost drugs coupled with highly competitive market for drugs, patent expiration, side-effects of drugs are major factors hampering market growth. As awareness regarding this condition grows, major potential can be tapped from a large undiagnosed insomnia population pool over the forecast period.
North America market accounts for major share in the global insomnia market, and is expected to maintain its dominance throughout the forecast period owing to technological advancements and rise in demand for over-the-counter drugs, followed by the market in Europe. Developing countries in Asia Pacific hold profitable opportunities for new entrants and existing vendors to invest in the countries of Asia Pacific with the elevating per capita income and upsurge in occurrence of insomnia disorder.
Key players include Eisai Co., Pfizer Inc., Merck & Co., Sanofi Pasteur, Takeda Pharmaceutical Company, Meda Consumer Healthcare Inc., Pernix Therapeutics, Purdue Pharma L.P., Consumer Healthcare Inc., Dainippon Sumitomo, ECR Pharmaceuticals, Flynn Pharma, Johnson & Johnson, Astellas, Biocodex S A, Neurim, SkyePharma, and Vanda Pharmaceuticals Inc.
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