About Insomnia Drugs
Insomnia is also known as somnipathy or Sleep disorder is a medical disorder in which the patient experience difficulty in sleep maintenance or sleep initiation. For insomnia there are several symptoms which include mental, physical, social, and emotional functions. Lack of sleep has a negative impact on the health of a person. The prevalence of insomnia has been significantly increased which is a primary factor fostering the market growth. Reportedly, in the United States, over 75% of people aged between 20 and 59 years have sleeping difficulties frequently.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.7% |
Key players are adopting numerous strategies to gain market attention and to increase their market share, this strategy can be listed as increasing product portfolio, making partnerships to adopt certain technologies, and acquiring small players to finish the competition in the future. As well as investing money in the R&D sector to make technical upgrades to the product. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Insomnia Drugs market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Pfizer (United States), Sanofi (France), Merck Sharp & Dohme Corporation (United States), GlaxoSmithKline (United Kingdom), Koninklijke Philips N.V. (Netherlands), Takeda Pharmaceutical Company (Japan), Leva Pharmaceutical Industries (Pakistan), Cardinal Health, Inc. (United States), Becton Dickson and Company (United States) and Natus Medicalorporated (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Insomnia Drugs market by Type (Prescription-based Drugs, OTC Drugs and Herbal Drugs), Application (Hospitals, Clinics, Research Centres and Others) and Region.
On the basis of geography, the market of Insomnia Drugs has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Retail Pharmacies will boost the Insomnia Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Intake Form, the sub-segment i.e. Tablets will boost the Insomnia Drugs market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of Home Sleep Test Kits and Wearable Monitors, Advent of Continuous Positive Airway Pressure (CPAP) Therapy and Affordable Reimbursement Scenario for Drugs prescribed in Insomnia Treatment
Market Growth Drivers:
Increasing Incidence of Depression & Medical Disorder, Rising Geriatric Population and Associated Sleep Disorder and High Usage of Sleeping Aid Devices and Growing Healthcare Facilities
Challenges:
Patent Expiration of Insomnia Treatment Drugs
Restraints:
Side Effects Associated with the Drug used to Treat Insomnia Disorder
Opportunities:
Rising Investment on Research and Development of Drugs for the Insomnia Disorder
Market Leaders and their expansionary development strategies
In September 2020, Idorsia Ltd received US FDA approval for QUVIVIQ (daridorexant) for the treatment of adults with insomnia and has entered into a commercial relationship with Syneos Health for the US commercialization of the drug.
In June 2020, Eisai Co., Ltd. launched a new insomnia drug DAYVIGO™ (lemborexant) CIV in the United States as a treatment option for adults with insomnia.
November 2018, the European Medicines Agency recommends fexinidazole, the first all-oral treatment for sleeping sickness. This approval is a result of clinical trials led by the non-profit research and development organization DNDi and an application submitted by Sanofi.
Key Target Audience
Insomnia Drugs Manufacturer, Industry Associations, Potential Investors, Hospitals, Research Centre, Supplier, Traders & Distributors, Government and Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.