Published: Jan, 2018
Disorders or diseases that do not have any absolute treatment have always been remunerative for pharmaceutical industries, as these diseases pave ample opportunity for innovations and developments. Insomnia falls under the category of these diseases, with its prevalence witnessing an upsurge yet no drugs have been developed that realize its complete treatment. However manufacturers have developed a series of drugs such as tricyclic antidepressants, trazodone, zolpidem, zaleplon, and benzodiazepines, which are useful for short-term treatment of insomnia.
Several manufacturers are continuously making investments in research & development activities and focusing on new drug formulations in a bid to develop effective treatment method for insomnia. A recent report by Transparency Market Research (TMR) profiles key companies that are actively supporting expansion of the global insomnia market, which include Merck & Co., Sanofi, Pfizer Inc., Takeda Pharmaceutical Company Limited, Mylan N.V. Teva Pharmaceutical Industries Limited, Sumitomo Dainippon Pharma Co., Ltd., Paratek Pharmaceuticals, Inc., and Pernix Therapeutics Holdings, Inc.
Emphasis Increasing on Development of New Technologies & Novel Sleep-Inducing Medical Devices
During the forecast period, 2017 to 2026, the global insomnia market is slated to record an impressive growth. Revenues from the market are poised to reach nearly US$ 4,000 Mn by 2026-end. Prevalence of insomnia has witnessed a tremendous surge over the past few years. Excessive consumption of alcohol, caffeine, and addiction to smoking are key factors influencing the prevalence of insomnia. For instance, effectiveness of adenosine is curtailed by caffeine, which in turn complements drowsiness and impacts the sleep wake cycles. In a bid to enhance insomnia therapeutics, emphasis on the development of new technologies and novel sleep-inducing medical devices is increasing. Medical device manufacturers are increasingly focusing on developing smart wearable sleep-inducers using advanced technologies for delivering breathing exercises effectively, which in turn help patients in sleep initiation. These devices, which work in conjunction with mobile applications are designed specifically for enabling patients in falling asleep faster and staying asleep for sufficient duration.
North America to Remain Largest Market for Insomnia
North America has been anticipated to remain the largest market for insomnia, in terms of revenues. The market in this region is projected to register the highest CAGR through 2026. Europe and Asia-Pacific excluding Japan (APEJ) will also account for a major section of the market’s revenue share during the forecast period. In contrast, Middle East & Africa (MEA) and Latin America will account for the smallest revenue share of the market through 2026.
Benzodiazepines will continue to be the leading treatment method for insomnia, in terms of revenues. However, devices for the treatment of insomnia are expected to emerge as the fastest selling treatment type for insomnia through 2026, followed by benzodiazepines. Revenues from sales of benzodiazepines are expected to remain significantly larger than those from all the other treatment type segments combined during 2017 to 2026. In addition, Nonbenzodiazepines and antidepressants are also expected to remain lucrative treatment methods for insomnia.
Retail pharmacies & drug stores are anticipated to remain the dominant sales channels in the global insomnia market, with revenues projected to account for over two-fifth share of the market by 2026-end. However, sales of drugs for treatment of insomnia will witness the fastest expansion in online pharmacies, although this sales channel segment will account for the smallest revenue share of the market during the forecast period.
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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