Overview:
The global insomnia market is mainly driven by the growing awareness about insomnia, Market Research Future (MRFR) finds in its latest research report. The new MRFR report profiles the global insomnia market in order to find growth patterns that help make sense of the market’s movement in the last few years. Detailed historical data about the insomnia market’s growth trajectory over the review period is provided in the report. Using this information, MRFR analysts have derived studied forecasts regarding the market’s growth prospects over the forecast period from 2017 to 2023. The report estimates that the global insomnia market will exhibit a strong 4.5% CAGR over the aforementioned forecast period. Key economic factors boosting and restraining the market’s movement are also profiled in the report, in addition to the prominent players operational in the market.
Insomnia is a disease marked by an inability to fall asleep or to maintain circadian rhythms. Insomnia patients, also known as insomniacs, may have trouble falling asleep at night and may stay awake for several hours, sometimes through the night. This condition has a major effect on the patient’s life, as the drowsiness accumulated by insomnia may result in poor performance throughout the day, affecting the patient’s job and other activities. Insomnia may also worsen preexisting mental troubles and make the patient more susceptible to minor conditions such as allergies and flu.
The growing awareness about insomnia is likely to be the major driver for the global insomnia market. Insomnia has been a widely prevalent disease all over the world for a number of years, but research and realistic development of medications is a fairly recent phenomenon. The growing demand for effective medications to cure insomnia is likely to be a major driver for the global insomnia market over the forecast period.
Competitive Analysis:
Leading players in the global insomnia market include Vanda Pharmaceuticals Inc., SkyePharma, Neurim, Biocodex SA, Astellas, Johnson & Johnson, Flynn Pharma, ECR Pharmaceuticals, Dainippon Sumitomo, Consumer Healthcare Inc., Purdue Pharma LP, Pernix Therapeutics, Meda Consumer Healthcare Inc., Takeda Pharmaceutical Company, Sanofi, Merck & Co. Inc., Pfizer Inc., and Eisai Co.
Research efforts into discovering more about insomnia are likely to be a key tactic for players in the global insomnia market. Finding out new details about the etiology of insomnia is likely to remain a key priority for players in the coming years. A new study published in September 2019 linked the manifestation of insomnia to behavioral problems acquired during childhood. The study took into consideration more than 8,000 people over more than 40 years, tracking behavioral problems from the age of 5. The study showed that people who had severe behavioral issues as children were 39% more likely to suffer from insomnia as adults.
Segmentation:
The global insomnia market is segmented on the basis of therapy type, drug formulation, condition, and region.
By therapy, the global insomnia market is segmented into pharmacological therapy and non-pharmacological therapy.
By drug formulation, the global insomnia market is segmented into capsules, tablets, and others.
By condition, the market is segmented as poor quality of sleep, sleep maintenance, and others.
Regional Analysis:
North America holds a dominant 45% share in the global insomnia market and is likely to remain the leading revenue generator over the forecast period due to the widespread awareness about insomnia and the availability of advanced therapeutics to cure the same. Insomnia is widely prevalent in North America, with around 3% of U.S. citizens estimated to be suffering from the condition. In contrast to past times, effective medication against insomnia is now available in most urban centers in North America. This is also likely to be a major driver for the North America insomnia market over the forecast period.
Europe has the second largest regional insomnia market, followed by Asia Pacific and the Middle East. The latter two hold fairly minor shares in the global insomnia market, though the share of Asia Pacific in the insomnia market could grow in the coming years thanks to the growing urbanization in the region.
Browse Complete Report: https://www.marketresearchfuture.com/reports/insomnia-market-545
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