INSOMNIA TREATMENT MARKET ANALYSIS

Insomnia Treatment MarketSize and Trends

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.

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.