The latest market report published by Credence Research, Inc. “Global Insomnia Treatment Drugs Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global insomnia treatment drugs market was valued at US$ 2,689.6 Mn in 2017, and is expected to reach US$ 4,332.4 Mn by 2026, expanding at a CAGR of 5.5% from 2018 to 2026.
As per the scientific evidences reported by American Psychiatric Association (APA) approximately one third of the adults suffer with insomnia during their lifetime. It is manifested by incessant problems in falling and staying asleep. Patients suffering with insomnia experience symptoms such as fatigue, mood disturbances, lack of concentration, low productivity, loss of appetite etc. Pharmaceutical companies are relentlessly working to provide effective medication with least side effects. Orexin antagonist (Belsomra) are being prescribed by physicians throughout the globe owing to its ability to improve sleep with high degree of tolerability and limited adverse effects profile. The insomnia treatment drugs market pose severe threat from alternative treatment such as cognitive behavioral therapy for insomnia (CBTI) and recent FDA approval of devices such as Fisher Wallace Stimulator and EBB Insomnia Therapy.
Prescription sleep aids dominate the treatment type segment on account of key factors such as rising prevalence of insomnia, increasing stress, addiction etc., which if untreated will eventually result in chronic illness. Demanding lifestyle and poor sleeping habits result in secondary insomnia which requires benzodiazepines in combination with zolpidem for its treatment. Antidepressants are prescribed for patients suffering with neuropsychiatric ailment. Over the counter sleep aids comprises of antihistamines, melatonin and dietary supplement. Antihistamine and melatonin are utilized to produce sedative effect in patients suffering with altered circadian rhythm and jet lag. Dietary supplements are usually taken by patients to stimulate the production of melatonin by pineal gland.
Currently North America is leading the regional segment for insomnia treatment drugs market. Increasing number of geriatric population suffering with sleep disorders and rising prevalence of addiction and stress in the youth drive the insomnia treatment drugs market in North America. Asia Pacific is anticipated to exhibit steady growth during the forecast period owing to the rising prevalence of insomnia in patients suffering with chronic pain, hypertension, anxiety etc. Accurate diagnosis of insomnia has spurred the pharmaceutical companies to manufacture generic drugs in abundant quantity to cater the medicinal requirements of the huge patient base in the Asia Pacific region.
The key players actively engaged in the insomnia treatment drugs market are Merck & Co. Inc., F.Hoffman La-Roche AG, Mylan N.V., Pernix Therapeutics, Pfizer, Inc., Sanofi S.A., Takeda Pharmaceutical Company Ltd., Sumitomo Dainippon Pharma Co. Ltd., Teva Phamaceutical Industries Ltd, and Vanda Pharmaceuticals, Inc.
Browse the full report Insomnia Treatment Drugs Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/insomnia-treatment-drugs-market
Key Market Movements:
- Increasing number of geriatric population suffering with sleep disorders in the developed nations
- Affordable reimbursement scenario for drugs prescribed in insomnia treatment
- Growing health awareness leading to effective insomnia treatment, and developing healthcare infrastructure drive the market growth in developing nations