INSOMNIA TREATMENT MARKET ANALYSIS

Market Challenges And Opportunities

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.

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.

• Misconceptions about the seriousness of insomnia
• Characteristic side effects of insomnia drugs

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.