Insomnia Therapy Market by Treatment Type: Medications, Cognitive Behavioral Therapy (CBT), and Others
Insomnia is a common sleep disorder that affects a large population worldwide. Factors such as a growing geriatric population, increasing stress levels, and rising awareness about different treatment options are expected to boost the insomnia therapy market. The development of new technologies and medical devices is anticipated to drive market growth.
Although
only a few medical devices have been approved in recent years, such as EBB
Insomnia Therapy, Fisher Wallace Stimulator, and Alpha-Stim AID, their adoption
is expected to increase due to the combination of device-drug therapies for
treating insomnia.
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With
the introduction of new medications and devices, there is an expected rise in
demand for products that treat sleep disorders. Patients who were previously
treated with pharmaceuticals and did not achieve satisfactory results have
reported better outcomes when using devices or a combination of drugs and
devices. This positive trend towards combining devices and drugs is anticipated
to drive the revenue growth of the insomnia therapy market in the future.
The
global insomnia therapy market is segmented into two categories: drugs and
devices. The drugs segment dominates the market and accounted for nearly 99% of
the total revenue in 2019. This segment comprises patented and generic drugs,
with patented drugs accounting for the largest share in developed regions.
Generics and branded generics accounted for the largest revenue in developing
and underdeveloped regions. Zolpidem is the most widely used insomnia treatment
drug, comprising nearly 70% of the total insomnia treatment drugs due to its effectiveness
and easy availability.
The
prescription segment accounted for the largest share of over 79.2% of the total
market revenue in 2019, and it is expected to maintain its dominance throughout
the forecast period. Over-the-counter (OTC) therapeutics comprise active
ingredients such as melatonin, diphenhydramine, and tryptophan, and sales of
these drugs are expected to grow due to the emergence of newer therapeutics
with lesser adverse effects.
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North
America leads the insomnia therapy market, accounting for 54% of the total
revenue share in 2019. The high prevalence of sleep disorders in the U.S. and
Canada, along with an increase in awareness and high healthcare spending, is
expected to drive the market. Moreover, the high prevalence of this disease
among the geriatric population and the rapidly growing geriatric population in
the U.S. are expected to be the key driving factors promoting demand. Asia
Pacific accounted for 20.9% of the total market revenue in 2019, with Japan
contributing significantly to the market due to the high prevalence of target
disease.
Key
market participants include Takeda Pharmaceutical Company Ltd., Vanda
Pharmaceuticals, Merck & Co., Inc., Pfizer Inc., Teva Pharmaceutical
Industries Ltd., Mylan N.V., Sumitomo Dainippon Pharma Co., Ltd, Sanofi,
Paratek Pharmaceuticals Inc., and Ebb Therapeutics. The report forecasts
revenue growth at global, regional, and country levels and provides an analysis
of industry trends in each of the sub-segments from 2017 to 2027. The global
insomnia therapy market is segmented based on treatment types, sales channel,
and region. The drugs segment is further divided into benzodiazepines,
nonbenzodiazepines, antidepressants, orexin antagonists, melatonin antagonists,
and others, while the medical devices segment includes various devices for
treating insomnia.
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