Insomnia Treatment Market
Market Overview
It is expected that the Insomnia Treatment Market will grow at a CAGR of around 5.5 % over the forecast period. Insomnia drugs consist of a wide range of patented and generic drugs. Because of better reimbursement policies, patented drugs hold the larger share of revenue in developed regions. On the other hand, the largest revenue in developing and underdeveloped regions was generics & branded generics. Due to its efficacy and easy availability, Zolpidem is the highest-selling insomnia treatment drug. The prescription segment accounted for the largest share of over 80 % of total market revenue in 2017 in terms of sales channel distribution. This segment is expected to remain dominant over the forecast period as a result of increased use of prescription pharmaceuticals.
Increasing stress due to the highly active lifestyle of individuals to induce a surge in the insomnia treatment market.
In a study published in PMC in 2015 by “Hindawi Journal” by Timothy Fitzgerald and Jeffrey Vietri , it was found that approximately 25% of U.S. adults expressed dissatisfaction with their sleep, 10-15% of whom claim to have experienced insomnia symptoms and 6-10% of whom claim to have experienced sleep disorder. The study also shows that approximately 70% of patients suffering from partial stages of insomnia also end up reporting insomnia disorder within one year, and 50% of this population will continue to suffer from symptoms for the next three years. The study suggests that insomnia has become one of the most prevalent disorders being reported in the primary care setup. Between insomnia and medical or some psychiatric disorders, a high comorbidity rate was also observed. These statistics are more or less a direct result of increasing stress due to the urban populations current lifestyle.
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Other factors such as side effects due to certain OTC and prescription medication, arthritis, high use of media devices before sleep, drive the number of people suffering from insomnia, thus boosting the prospects for market growth. In addition, the growth of psychological conditions and constantly rising noise levels in urban areas will also propel the market for insomnia treatment during the forecast period.
Patient non-adherence due to the characteristic side effects of sleeping pills to prevent the growth of Insomnia Treatment Market
Insomnia drugs have some well-recognized side effects including drowsiness, lightheadedness, loss of memory and poor concentration, hallucinations and nightmares, worsening sleep apnea, drug dependence and drug interactions. Parasomnia and symptoms of withdrawal include other severe side effects of insomnia drugs. Daytime drowsiness in patients is the most commonly faced side effect of insomnia drugs. This can cause confusion, hampering simple daily tasks such as driving. It is also becoming challenging to make decisions and concentrate. In some patients, drugs such as zaleplon, zopiclone, and zolpidem prescribed for a brief period of 15 to 30 days may trigger delusions or hallucinations. After using insomnia medicines, some patients complain of nightmares. In a study published on PMC by “PLOS Journal” in 2015, it was found that 39.7% reported non-adherencedue to forgetfulness and/or inconvenience in patients with insomnia using prescription insomnia drugs. In addition, 13.6 % of the population surveyed reported being non-adherent due to other adverse U.S. effects. The factor discussed above along with misconceptions about insomnias seriousness will lead to the Insomnia Treatment Markets limited growth.
North America to Maintain Lead as the Largest Shareholder
North America leads the Insomnia Treatment market and accounted for about half of the total market share in 2017. The growing need for treatment of sleep disorders in the U.S. and Canada coupled with the increasing prevalence of sleep disorders is a driving factor for the market in this region. Also expected to drive the market is the rise in awareness and high health care expenditure. Other factors promoting insomnia demand include the high prevalence of this disease among the geriatric population and the rapidly growing geriatric population in the United States.
Competitive Landscape & Major Players: Due to the presence of multiple generic manufacturers, the insomnia treatment market is fragmented in nature. A few market players offer branded drug options, but price sensitivity is a problem in a number of emerging regions. In addition, major manufacturers focus on developing new molecules to gain a competitive edge and tapping on the markets high unmet needs.
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The following are few key players on the market,
• Merck & Co.
• Mylan N.V. Pharmaceuticals Paratek, Inc.
• Pfizer Inc.
• Sanofi S.A.
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