The global insomnia therapeutics market is expected to reach USD 3.45billion by 2025, according to a new report by Grand View Research, Inc. The market is primarily driven by the presence of patented molecules, potential clinical pipeline candidates, rising stress level, and increase in geriatric population who find it difficult to fall asleep. Increase in prevalence of insomnia & awareness about this condition and availability of safer drugs are anticipated to fuel revenue growth.
Insomnia is estimated to affect approximately 35% of the global population. Different patterns of the condition include difficulty in sleep initiation and maintenance, which is generally accompanied with frequent awakenings & awakening too early with trouble sleeping again. Long-term insomnia can hamper everyday life, which may result in nonproductive work hours. If left untreated, this condition may lead to severe depression and nervous breakdown of the patient.
Factors influencing insomnia therapeutics market growth include rising stress level, presence of patented molecules in the market, potential drugs in clinical pipeline, introduction of technologically advanced medical devices, and growing geriatric population. Growing awareness about the impact of sleep deprivation on everyday life is anticipated to increase adoption rate of various treatments for insomnia, which is expected to lead to revenue growth of the insomnia therapeutics market.
Currently, widely adopted treatment options for insomnia include generic no benzodiazepines and antidepressants even though other novel agents such as orexin antagonists and melatonin antagonists are available in the market. Launch of Eisai’s Lemborexant is expected to cater to unmet medical needs in this segment and fuel growth of this market over the forecast period. According to United Nations (UN) report in 2015, population in the age group of 60 years and above is projected to grow by 56% and is expected to reach around 1.4 billion by 2030. These statistics indicate the growing geriatric population. Since this population base is more susceptible to sleep deprivation, the demand for insomnia therapeutics is anticipated to increase.
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https://www.grandviewresearch.com/industry-analysis/insomnia-therapeutics-market
Further Key Findings From the Report Suggest:
- North America held majority of the share in 2016 due to increase in awareness about diseases, growing geriatric population, and high adoption of therapeutics for treatment.
- The U.S. dominated North America owing to the presence of largest sleep-deprived population and use of patented drugs for treatment.
- Japan is the second largest market after the U.S. Asia Pacific is expected to be the fastest growing market due to the presence of emerging economies like China & India and launch of new drugs.
- Some of the key players are Takeda Pharmaceutical Co. Ltd.; Vanda Pharmaceuticals; Merck & Co, Inc. Pfizer Inc.; Teva Pharmaceutical Industries Ltd.; Mylan N. V.; Sumitomo Dainippon Pharma Co., Ltd.; Sanofi; Paratek Pharmaceuticals; and Ebb Therapeutics.
Access press release of this research report by Grand View Research: http://www.grandviewresearch.com/press-release/global-insomnia-therapeutics-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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