The global Jet Lag Therapy Market will be worth USD 548.5 million by 2027, according to a current analysis by Emergen Research. The Jet Lag Therapy Market report further mentions that this market will exhibit a CAGR of 4.3% over the forecast period of 2020-2027. Jet lag symptoms cause a wide variety of considerable health hazards like reduced productivity, irritability, gastrointestinal issues and even depression. According to the World Health Organization (WHO), “jet lag is a physiological condition that results from alterations to the body’s circadian rhythms caused by rapid long-distance transmeridian (east-west or west-east) travel”. It occurs when the circadian clock is out of sync with the new time zone. The circadian rhythm is a natural, internal process that regulates the sleep-wake cycle and repeats roughly every 24 hours.
As per the International Air Transport Association (IATA), global air traffic is projected to grow by 4.1% in 2020. The growth of the air travel industry is one of the major drivers for the jet lag therapy market. According to the IATA, in 2018, there were 4.3 billion air travelers and this number is expected to increase to 7.8 billion by 2037. The growth of the air travel industry is projected to fuel the demand for jet lag therapies over the forecast period.
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There has been wide range of advancements in the field of medicine over the past decade. The market is driven by technological innovations and rising awareness among people about the importance of mental health. The launch of new products in the market and growth in online retailing are expected to provide opportunities for market players in the coming years.
New product launches such as Philips-Respironics’ Somneo sleep and wake-up light and Red Bull Energy drink are expected to drive the market growth during the forecast period. The launch of these products will help people suffering from jet lag to get relief from their symptoms. Moreover, the rising awareness about the importance of mental health is also expected to fuel the demand for jet lag therapy products.
Key Highlights From The Report.
- On the basis of product type, the global jet lag therapy market is classified into melatonin, light therapy, and others. Melatonin segment is expected to grow at the highest CAGR over the forecast period due to the increased prevalence of jet lag and the availability of products in the market. Also, the growing awareness about jet lag and its remedies is expected to drive the growth of this segment. Melatonin is a hormone involved in regulating sleep and wakefulness cycles. Light therapy uses artificial light to improve the sleep cycle.
- The supplements segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the rising health consciousness among people and the availability of a wide range of supplements in the market.
- The air travel segment is expected to grow at the highest CAGR during the forecast period. This growth is attributed to the increasing number of air passengers and long-haul flights. Also, the availability of advanced aircrafts with comfortable seats and in-flight entertainment is projected to drive the growth of the air travel segment.
- On the basis of application, the global jet lag therapy market is segmented into insomnia, shift work disorder, and others. Insomnia segment is expected to grow at the highest CAGR over the forecast period due to the increased prevalence of insomnia and the introduction of new products. Also, the availability of products in the market and the growing awareness about jet lag and its remedies are some of the factors that are expected to drive the growth of this segment. Insomnia is a condition in which a person has difficulty falling asleep or staying asleep. Shift work disorder is a condition that occurs when a person’s sleep-wake cycle is disrupted due to working irregular hours.
- Light therapy segment is expected to grow at a significant rate over the forecast period due to the growing awareness about light therapy and its benefits. Also, the availability of products in the market is expected to drive the growth of this segment.
- North America held the largest market share in 2019 and is expected to retain its dominance over the forecast period. This can be attributed to factors such as the availability of jet lag therapies, increased air travel, and awareness about jet lag and its remedies.
- The Asia Pacific region is expected to grow at the highest CAGR over the forecast period due to the increased air travel and awareness about jet lag and its remedies. Also, the availability of products in the market is expected to drive the growth of this region.
- Key participants include Ayo (Novalogy), Lumie, Lucimed S.A., The Litebook Company Ltd., Northern Light Technologies, Nature Bright, Re-Time Pty Ltd., and Chrono Eyewear BV. among others.
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For the purpose of this report, Emergen Research has segmented into the global Jet Lag Therapy Market on the product, distribution channel, end user and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Prescription Drugs
- Herbal and Natural Products
- Medical Devices
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Over the Counter
End User Outlook (Revenue, USD Billion; 2017-2027)
- Business Travelers
- Cabin Crew
- Seasonal Travelers
Regional Outlook (Revenue: USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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