Market Trends of Global Barbiturate Drugs Industry
This section covers the major market trends shaping the Barbiturate Drugs Market according to our research experts:
Insomnia is Expected to Hold a Major Market Share Over the Forecast Period
The rise in prevalence of insomnia, increasing awareness about various treatment options for this condition, and rising stress levels in society are some of the factors expected to propel the insomnia segment growth over the forecast period. According to a study published by the American Journal of Managed Care in April 2020, titled 'Insomnia Overview: Epidemiology, Pathophysiology, Diagnosis and Monitoring, and Nonpharmacologic Therapy,' insomnia is one of the most common sleep disorders, and it is a substantial burden for the United States healthcare system. The combined direct and indirect costs of insomnia in the United States exceed USD 100 billion annually.
Additionally, according to a study published by Frontiers Media SA in 2021, titled 'The Epidemiology of Insomnia and Sleep Duration Across Mental and Physical Health: The SHoT Study,' the overall prevalence of insomnia in the healthy reference group was 21.7% and was significantly higher among female (24.8%) compared to male (16.4%). Moreover, the growth of psychological conditions and constantly increasing noise levels in urban areas are anticipated to increase insomnia in society, driving the segment market over the forecast period.
hus, the segment is anticipated to witness significant growth over the forecast period due to the abovementioned factors.
North America is Expected to Dominate the Global Barbiturate Market
An increase in health care expenditure and the upsurge in the incidence of insomnia, epilepsy, and anxiety are expected to drive market growth. According to the American Academy of Sleep Medicine 2020, sleeping disorders affect about 20% of the population in the United States each year. Also, according to the Centre for Disease Control and Prevention in 2020, about 470,000 children and around 3 million adults have active epilepsy in the United States. The number of Americans who have epilepsy is greater than the number who have multiple sclerosis, Parkinson's disease, and cerebral palsy combined. Thus, there is a rising demand for effective treatments such as barbiturates in the region which is expected to boost the growth of the barbiturates drug market in the region. Furthermore, according to data published by sleep advisor in 2022, about 30% of the United States adult population suffer from insomnia and 10% from chronic insomnia, making it the most common sleep disorder.
Moreover, the presence of a large number of barbiturate drug companies, availability of drugs, and high healthcare expenditure are anticipated to further propel the growth of the barbiturates drug market in the region.
