INSOMNIA TREATMENT MARKET ANALYSIS

Insomnia is a common sleep disorder that can make it hard to fall asleep, hard to stay asleep, or cause people to wake up too early and not be able to get back to sleep. Common causes of insomnia include irregular sleep schedule, stress, poor sleeping habits, physical illnesses and pain, neurological problems, medications, mental health disorders like anxiety and depression, and specific sleep disorders. Treating (and reversing) insomnia is possible, but it will take some time and effort. Insomnia treatment consists of improving sleep habits, behaviour therapy, and identifying and treating underlying causes. Cognitive behavioural therapy, sometimes called CBT-I, is an effective treatment for chronic sleep problems and is usually recommended as the first line of insomnia treatment.

Market Statistics:

The global insomnia treatment market was valued at US$ 3,048.04 Mn in 2021 and is forecast to reach a value of US$ 4,752.2 Mn by 2028 at a CAGR of 6.6%between 2022 and 2028.

North America held dominant position in the global insomnia treatment market in 2020, accounting for 42.6% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Insomnia Treatment Market Share (%), by Region, 2021

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Recent Developments:

In January 2022, the Food and Drug Administration (FDA) approved daridorexant (Quviviq, Idorsia Pharmaceuticals) for the treatment of insomnia, characterized by difficulties with sleep onset and/or sleep maintenance. The FDA approval is based on an extensive clinical program that included 1854 people with insomnia at more than 160 clinical trial sites across 18 countries.

In February 2020, Merck received the U.S. Food and Drug Administration (FDA) approval for its Belsomra drug to treat insomnia in patients with mild-to-moderate Alzheimer’s disease.

In July 2019, the U.S. Food and Drug Administration (FDA) approved fexinidazole as the first all-oral treatment of the Trypanosoma brucei gambiense (Human African trypanosomiasis, sleeping sickness) in patients 6 years of age and older and weighing at least 20 kg.

Market Drivers:

1. Increasing prevalence of insomnia across the world is expected to drive growth of the global insomnia treatment market during the forecast period. For instance, according to the American Academy of Sleep Medicine 2020, stress can cause adjustment insomnia, which affects around 20% of people in the United States each year. Moreover, children with poor sleeping habits are more likely to develop behavioural insomnia, which affects up to 30% of children.
2. Increasing demand for safe & effective treatment due to increasing awareness among people is expected to boost growth of the global insomnia treatment market over the forecast period. For instance, in June 2020, Eisai Co., Ltd. announced the launch of its in-house discovered orexin receptor antagonist DAYVIGO (lemborexant) CIV as a treatment option for adults with insomnia, characterized by difficulties with sleep onset and/or sleep maintenance in the U.S.

Figure 2. Global Insomnia Treatment Market Share (%), by Treatment Type, 2021

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Market Restraints:

1. Misconceptions about the seriousness of insomnia is expected to hinder growth of the global insomnia treatment market. For instance, Insomnia is one of the most commonly reported sleep problem. It is a highly prevalent disorder that often goes unrecognized and untreated despite its adverse impact on health and quality of life. Insomnia can also be a risk factor for depression and a symptom of a number of medical, psychiatric, and sleep disorders. Thus, it is important to consult physician/doctor as early as possible.
2. Characteristic side effects of insomnia drugs market is expected to hamper the growth of the global insomnia treatment market. For instance, Insomnia drugs have well-recognized, characteristic side effects, which include hallucinations and nightmares, poor concentration, worsening sleep apnea, memory loss, light-headedness, drowsiness, drug dependence, drug addiction, and drug interactions. Daytime drowsiness is the most faced side effect of insomnia drugs.

Market Opportunities:

1. The outbreak of COVID-19 (pandemic) is expected to offer lucrative growth opportunities for player in the global insomnia treatment market. For instance, the ongoing global pandemic has brought unprecedented changes in people's lives. For many, it has caused significant stress, anxiety, and concerns over health, employment, social isolation, finances, and the challenge of balancing work and family obligations. This in turn is expected to aid in the market growth.
2. Increasing awareness about various treatment options is expected to offer significant growth opportunities for player in the global insomnia treatment market. For instance, the American Academy of Sleep Medicine (AASM) and the Society of Behavioral Sleep Medicine (SBSM) are working to raise awareness of one of the most common sleep problems, named Insomnia, with Insomnia Awareness Night on June 22, 2022.

Market Trends/Key Takeaways:

1. Frequent approvals and launches of novel therapeutics is expected to augment growth of the global insomnia treatment market. For instance, in January 2022, Idorsia (IDIA.S) received the U.S. Food and Drug Administration's (FDA’s) approval for its treatment for insomnia in adult patients. The drug was approved in doses of 25 mg and 50 mg based on data from two late-stage trials that showed statistically significant and clinically meaningful improvements in the sleep during the night and daytime functioning over a sustained period.
2. Rise in development of new technologies and introduction of novel therapeutics is expected to propel the growth of the global insomnia treatment market. For instance, in December 2021, HoneyNaps announced that the company is planning to start a digital therapeutic business for the treatment of insomnia in addition to monitoring, analysing, and diagnosing inter-sleep bio-signals. The platform consists of SOMNUM, an artificial intelligence (AI) based software for diagnosing sleep diseases, My SOMNUM, non-contact sleep analysis and coaching solution, and SOMNUM Medella, a digital treatment for insomnia.

Competitive Landscape:

1. Merck & Co. Inc.
2. Ebb Therapeutics
3. Paratek Pharmaceuticals Inc.
4. Pfizer Inc.
5. Sanofi SA
6. Electromedical Products International Inc.
7. Takeda Pharmaceutical Company Ltd
8. Cerêve Inc.
9. Innovative Neurological Devices