Insomnia market size was valued at $4.3 billion in 2020, and is estimated to reach $6.3 billion by 2030, growing at a CAGR of 3.9% from 2021 to 2030. Insomnia is a sleep disorder wherein people face problem to fall asleep or remain asleep. The major causes of insomnia, include high stress levels, mental disorders, excessive consumption of caffeine and alcohol, and other medical conditions. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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The key market players analyzed in the global insomnia market report include Currax Pharmaceuticals LLC, Eisai, Co. Ltd., Sanofi, Merck & Co. Inc., Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Minerva Neurosciences Inc., Zydus Cadila, Vanda Pharmaceuticals, and Viatris (Mylan NV). These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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- The outbreak of the pandemic resulted in job losses for many people which caused depression and stress in people, which in turn increased the demand for insomnia drugs, thus driving the market growth.
- This trend is likely to continue till the pandemic is completely over.
- The COVID-19 outbreak is anticipated to have a positive impact on the growth of the insomnia market. The COVID-19 pandemic resulted in job losses for many workers as industries were not operating properly, which contributed in rise in stress in people.
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The global insomnia market is analyzed across therapy type and region. Based on therapy type, the pharmacological therapy segment contributed to 96.9% of the total market revenue in 2020, and is projected to lead the trail by 2030. The pharmacological therapy segment, however, would exhibit the fastest CAGR of 3.9% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering nearly three-fifths of the global market. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 5.5% throughout the forecast period.
North America was the leading revenue contributor to the insomnia market share in 2020, and is expected to remain dominant during the forecast period. This is attributed increase in development of insomnia industry, increase in work related stress, and high prevalence rate of insomnia. However, Asia-Pacific is expected to grow at the highest CAGR of 5.5% during the forecast period, due to increase in the number of people working at odd hours, increase in number of key players, and growth in disposable income in the region.
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- By therapy type, the pharmacological therapy segment was the highest contributor to the market in 2020.
- Region-wise, North America garnered the largest revenue share in 2020, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.
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