|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The insomnia treatment market is expected to register a CAGR of 5.93% during the forecast period 2022-2027.
The COVID-19 pandemic has brought about unprecedented changes in people’s lives. For many people, it has caused significant stress, anxiety, and concerns over health, social isolation, employment, finances, and the challenge of balancing work and family obligations. Such a significant life event is likely to disrupt sleep and impact market growth as well. The COVID-19 pandemic has impacted sleep according to the American Academy of Sleep Medicine's (AASM) Sleep Prioritization Survey 2020, which found that about a third of adults (33%) noticed a change in their sleep quality, 30% noticed a change in their ability to fall asleep, and 29% noticed a change in their nightly amount of sleep. In addition, females were more likely to report that bedtimes (31%) were impacted by the COVID-19 pandemic than males (25%).
Also, the increasing prevalence of insomnia, rising stress levels, and increasing awareness about various treatment options for this condition are some of the factors expected to propel the market.
According to the American Psychological Association's (APA) Stress in America survey, adults in 2020 rated their stress levels as 5.0 on a scale of 1 to 10, up from 4.9 in 2019. Furthermore, stress levels among Gen Z adults have been slightly rising over the last two years, rising from 5.6 in 2018 to 5.8 in 2019 and 6.1 in 2020. Insomnia rarely occurs on its own and is frequently associated with other illnesses. Rather than treating the primary disorder, where symptoms of insomnia may go unnoticed or untreated, there is a push to recognize chronic insomnia as a disorder requiring treatment. Patients with insomnia are more likely to develop psychiatric disorders, such as depression and anxiety, and suffer increased healthcare utilization and costs, lower quality of life, drug or alcohol abuse, poor occupational performance, and accidents.
Market growth is expected to be boosted by the development of new technologies and the introduction of medical devices. The major players have a significant impact on the market. For instance, the US Food and Drug Administration (FDA) approved Eisai Co. Ltd's in-house developed orexin receptor antagonist DAYVIGO (lemborexant) CIV for the treatment of adults with insomnia, characterized by difficulties with sleep onset and/or sleep maintenance, in the United States in June 2020.
The other factors, such as side effects due to certain OTC and prescription medication, arthritis, and high usage of media devices before sleep, are boosting the number of people suffering from insomnia, thus creating opportunities for market growth. Moreover, the growth of psychological conditions and constantly increasing noise levels in urban areas are also expected to propel the insomnia treatment market during the forecast period. However, the misconceptions about the seriousness of insomnia and patients’ non-adherence to the treatment are some factors expected to restrain market growth over the forecast period.
Scope of the Report
As per the scope of the report, insomnia is a sleep disorder with one or more symptoms that could include fatigue, inability to focus or concentrate, poor memory, mood disturbance, daytime sleepiness, and low motivation or energy. The insomnia treatment market is segmented by treatment type (drugs (benzodiazepines, nonbenzodiazepines, orexin antagonists, and other drugs) and devices), distribution channel (hospital pharmacies, retail pharmacies, and other distribution channels), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.
|By Treatment Type|
|By Distribution Channel|
|Other Distribution Channels|
Key Market Trends
Orexin Antagonist Segment Expected to Grow in the Forecast Period
Reduced efficacy and harmful side effects constrain the use of many treatment options for several patients. Suvorexant (MK-4305, Merck) is the first of a new class of drugs for treating insomnia known as ORAs (orexin receptor antagonists). The tablets support the natural transition from sleeplessness to sleep by inhibiting the arousal system's wakefulness-promoting orexin neurons. Suvorexant advances sleep onset, as well as sleep maintenance. This distinctive alternative has advantageous permissibility and a restricted side-effect profile.
Suvorexant is a potent dual orexin receptor antagonist that blocks both receptors, i.e., OX1R and OX2R. It stimulates sleep through the binding inhibition of orexin-A and B, neuropeptides that promote wakefulness.
According to the study titled "Evolution of Orexin Neuropeptide System: Structure and Function," published in the Frontier in Neuroscience in July 2020, in the human brain, there are approximately 70,000 orexin neurons located in the perifornical lateral hypothalamus, which send signals throughout the brain and spinal cord. Suvorexant’s mechanism of action varies from that of benzodiazepines and non-benzodiazepines since it has no effect on Gamma-aminobutyric acid (GABA). As an alternative to promoting sleep, it inactivates wakefulness.
In December 2019, the US Food and Drug Administration (FDA) approved the new drug application for Eisai’s in-house discovered and developed orexin receptor antagonist DAYVIGO (lemborexant). DAYVIGO was approved for the treatment of insomnia that was characterized by difficulties with sleep onset and/or sleep maintenance in adults.
Owing to the advancements associated with this class of drugs, the segment is expected to observe steady growth over the forecast period.
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North America Expected to Dominate the Insomnia Treatment Market
North America leads the insomnia treatment market. The growing need for sleep disorder treatment in the United States and Canada, coupled with the growing prevalence of sleep disorders, is expected to drive the market over the forecast period. According to the American Academy of Sleep Medicine 2020, stress can cause adjustment insomnia, which affects up to 20% of people in the United States each year. Children with poor sleeping habits are more likely to develop behavioral insomnia, which affects 30% of children. Insomnia is caused by prescription drugs, substance abuse, medical disorders, and mental health conditions, and it affects about 3% of the population. Depression, drug withdrawal, obesity, and anemia are some of the specific causes that might lead to insomnia.
Additionally, the presence of supportive organizations specific to insomnia in North America is also a major driving factor for the regional market. The Canadian Sleep Society is one such national organization committed to improving sleep for all Canadians through support for research, promotion of high-quality clinical care, education of professionals and people, and advocacy for sleep and sleep disorders medicine.
Moreover, the presence of key market players and the R&D of new drugs and product launches are expected to boost the growth of the market studied.
For instance, in July 2019, Zydus Cadila launched Ramelteon tablets, used to treat insomnia, in the US market. Similarly, in June 2020, Eisai Co. Ltd launched in-house discovered orexin receptor antagonist DAYVIGO (lemborexant) CIV for the treatment of adults with insomnia, characterized by difficulties with sleep onset and/or sleep maintenance. All these factors are expected to boost the growth of the insomnia treatment market in North America.
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The insomnia treatment market is fragmented in nature, owing to the presence of multiple generic manufacturers. A few players operating in the market offer branded drug options; however, price sensitivity is an issue in several emerging regions. Additionally, major manufacturers are focusing on developing new molecules to gain a competitive edge and tap the high unmet needs in the market. The major players in the market are Merck & Co., Ebb Therapeutics, Paratek Pharmaceuticals Inc., Pfizer Inc., Sanofi SA, Electromedical Products International Inc., Takeda Pharmaceutical Company Ltd, Cerêve Inc., and Innovative Neurological Devices.
· In February 2021, Eisai Limited, the Canadian subsidiary of Eisai Inc., received Canadian authorization for its new non-sedative prescription medication, DAYVIGO (lemborexant). Available in both 5 mg and 10 mg dosages, DAYVIGO is indicated for the treatment of insomnia, which is characterized by difficulties with sleep onset and/or sleep maintenance.
· In January 2021, Minerva Neurosciences Inc. and Royalty Pharma PLC entered an agreement through which Royalty Pharma will acquire Minerva’s royalty interest in seltorexant. Seltorexant, a selective orexin two receptor antagonist, is currently in Phase 3 development for the treatment of major depressive disorder (MDD) with insomnia symptoms.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Stress Due to Highly Active Lifestyles of Individuals
4.2.2 Side Effects Due to Certain OTC and Prescription Medication
4.2.3 High Usage of Media Devices Before Sleep
4.3 Market Restraints
4.3.1 Misconceptions about the Seriousness of Insomnia
4.3.2 Patient Non-adherence due to Characteristic Side Effects of Insomnia Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value – USD million)
5.1 By Treatment Type
5.1.1 By Drug
188.8.131.52 Orexin Antagonist
184.108.40.206 Other Drugs
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Other Distribution Channels
5.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle -East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Merck & Co.
6.1.2 Ebb Therapeutics
6.1.3 Paratek Pharmaceuticals Inc.
6.1.4 Pfizer Inc.
6.1.5 Sanofi SA
6.1.6 Electromedical Products International Inc.
6.1.7 Takeda Pharmaceutical Company Ltd
6.1.8 Cerêve Inc.
6.1.9 Innovative Neurological Devices
6.1.10 Eisai Co. Ltd
6.1.11 Meda Consumer Healthcare
6.1.12 Purdue Pharma LP
6.1.13 Pernix Therapeutics
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Insomnia Treatment Market market is studied from 2019 - 2027.
What is the growth rate of Insomnia Treatment Market?
The Insomnia Treatment Market is growing at a CAGR of 5.93% over the next 5 years.
Which region has highest growth rate in Insomnia Treatment Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Insomnia Treatment Market?
North America holds highest share in 2021.
Who are the key players in Insomnia Treatment Market?
Pfizer Inc., Sanofi S.A., Takeda Pharmaceutical Company Ltd., Merck & Co., Electromedical Products International Inc. are the major companies operating in Insomnia Treatment Market.