Portland, OR, May 05, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Insomnia Market was estimated at $4.3 billion in 2020 and is expected to hit $6.3 billion by 2030, registering a CAGR of 3.9% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
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Increase in the prevalence of different types of sleep disorders such as insomnia and parasomnias, rise in mental depression and other painful conditions, advancements in non-pharmacological therapy for sleep, and new product launches drive the growth of the global insomnia market. On the other hand, long-term consumption of some medication for chronic disease treatment possesses some side effects, which are believed to affect the patient’s quality of sleep. This factor restrains the market growth to some extent. However, surge in the number of insomnia centers and sleep diagnostic centers is expected to create lucrative opportunities in the industry.
Covid-19 scenario-
- The outbreak of the pandemic resulted in job losses for many people which caused depression and stress in people, which in turn increased the demand for insomnia drugs, thus driving the market growth.
- This trend is likely to continue till the pandemic is completely over.
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The global insomnia market is analyzed across therapy type and region. Based on therapy type, the pharmacological therapy segment contributed to 96.9% of the total market revenue in 2020, and is projected to lead the trail by 2030. The pharmacological therapy segment, however, would exhibit the fastest CAGR of 3.9% during the forecast period.
Based on region, the market across North America held the major share in 2020, garnering nearly three-fifths of the global market. The Asia-Pacific region, on the other hand, would manifest the fastest CAGR of 5.5% throughout the forecast period.
The key market players analyzed in the global insomnia market report include Currax Pharmaceuticals LLC, Eisai, Co. Ltd., Sanofi, Merck & Co. Inc., Pfizer, Inc., Takeda Pharmaceutical Company Ltd., Minerva Neurosciences Inc., Zydus Cadila, Vanda Pharmaceuticals, and Viatris (Mylan NV). These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
