Sleep Disorders Treatment Market Size

Statistics for the 2023 & 2024 Sleep Disorders Treatment market size, created by Mordor Intelligence™ Industry Reports. Sleep Disorders Treatment size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Sleep Disorders Treatment Industry

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Sleep Disorders Treatment Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 7.10 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Sleep Disorders Treatment Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Sleep Disorder Treatment Market Analysis

The sleep disorders treatment market is anticipated to witness a CAGR of nearly 7.1% during the forecast period.

COVID-19 had a significant impact on the growth of the market. According to the NCBI article published in March 2022, in Europe, the incidence of new-onset COVID-19-related insomnia was as high as 13.6%, whereas the prevalence of clinical insomnia was 18.6% in 2021. According to another study published in September 2020 in Springer, the patients with obstructive sleep apnea experienced around eight times greater risk for COVID-19 infection compared to a similar-aged population receiving care in a major racially and socio-economically diverse healthcare system. Obstructive sleep apnea was linked to an increased risk of hospitalization in COVID-19 infection patients, as well as a nearly doubled risk of developing respiratory failure. Thus, the COVID-19 infections had a significant impact on the growth of the market. The increasing adoption of sleep disorder treatment is expected to drive the growth of the market over the coming five years.

The major factors driving the market include the increasing incidences of sleep apnea, an increase in the geriatric population, an increase in the prevalence of obesity and hypertension, and increasing awareness among the patient population in developing countries. Aging is a major factor driving the market growth for sleep apnea devices as the elderly are the most at risk for developing this disorder.

The increasing prevalence of sleep disorders and the increasing awareness among people about sleep disorders across the world are contributing to the market's growth. As per the Helsestart data on global insomnia statistics in 2022 and 2023, half of US adults experience insomnia once a month or more. Around 59% of adults in the West suffer from insomnia at some point or another, making it the most susceptible region in the world. The same source also stated that people in Japan, Taiwan, and Sweden have the biggest struggle with insomnia, more than any other country worldwide. Norway has the most searches for melatonin in the world, i.e., a massive 520 times per 100,000 people from 2021 to 2022, 67 more times than Sweden.

An increase in awareness about sleep disease among the general population is expected to propel the sleep disorders treatment market. The rising number of people suffering from a host of sleep disorders, including hallucinations, sleep paralysis, disrupted nocturnal sleep, insomnia, sleep apnea, narcolepsy, and circadian disorders, caught the attention of governments across the world, forcing them to take necessary steps to address this condition.

The approval and commercialization of new drugs by market players are also expected to play a crucial role in driving the market in the coming years. For instance, in January 2022, Idorsia received FDA approval for the drug Quviviq for the treatment of insomnia, which may improve sleep with less grogginess. Similarly, in August 2021, Jazz Pharmaceuticals received US FDA approval for its drug Xywav for the treatment of patients with idiopathic hypersomnia, a rare neurologic disorder that can result in daytime sleepiness despite having a prolonged night of sleep.

However, lower diagnosis rates and side effects of sleep disorders drugs may hamper the market's growth.

Sleep Disorder Treatment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)