13 Insomnia is a sleep disorder caused due to various factors such as stressful lifestyle, mental disorders, and other medical conditions, consumption of certain drugs, caffeine, and alcohol also cause insomnia. The therapeutic techniques differ with the type of insomnia affecting the quality of sleep of the patient. The types of insomnia differ with the duration the disorder, such as: transient (persist for few days), acute (few weeks), and chronic (few months).
Insomnia is the most common sleep disorder and is believed to affect approximately 35% of the global population. The condition can be defined as patient-reported difficultly with sleep initiation or sleep maintenance which can include frequent awakenings, difficulty returning to sleep after awakenings, or awakening too early with inability to return to sleep. Cases of insomnia can be classified on the basis of etiology into primary and secondary (or comorbid) subtypes. The insomnia market is widely genericized creating a competitive environment for new products. The rise in demand for over-the-counter (OTC) sleep aids and emergence of therapeutics with fewer sideeffects drive the market growth. In addition, rise in geriatric population and growth in the incidence rate of chronic diseases are increased the use of therapeutics for treating insomnia. Furthermore, the rise in stress level among youth due to factors such as job stress and intense competition have led to surge in the incidence rate of insomnia. However, the side-effects caused due to excessive use of sleep medication and patent expiration of various prescription drugs are expected to restrict the market growth.
According to a new report published by Allied Market Research, titled, Insomnia Market by
Therapy Type and Geography: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global insomnia market accounted for $4,093 million in 2016, and is estimated to reach $5,488 million by 2023, registering a CAGR of 4.2% from 2017 to 2023. North America was the highest contributor in the insomnia market in 2016; however, Asia-Pacific is expected to witness the highest growth rate during the forecast period.
As such, the treatment algorithm centers on the generically available nonbenzodiazepines and low-dose sedating antidepressants, despite the launch of numerous novel agents. The value of the insomnia market is set to further decline following the loss of exclusivity for Sunovion/Dainippon Sumitomo’s Lunesta, the top selling insomnia drug, in April 2014. However, GlobalData expects the launch of two pipeline products from a novel class of drugs to provide growth in the insomnia market as they may address some of the unmet need. Non-pharmacological therapy segment is expected to be lucrative for new entrants and existing market players, as this form of treatment causes fewer side-effects as compared to sleep medications. Furthermore, cognitive behavioral therapy is expected to be the fastest growing segment in the near future, as these therapies help to identify and change the thought and behavior that causes insomnia in a patient. Moreover, in this technique, therapeutic approach can be modified as per the needs of patients. The use of insomnia treatment is highest in North America, owing to increase in adoption of these therapies, high prevalence rate of insomnia, and rise in disposable income among customers. Although the use of therapies for the treatment of insomnia is low in Asia-Pacific and LAMEA, the adoption rate is expected to increase due to rise in disposable income, increase in incidence rate of insomnia, and surge in the number of people working at odd hours. Download Free Sample Copy of this Report @ https://www.alliedmarketresearch.com/request-sample/2373
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