Insomnia Treatment Market

Insomnia Treatment Market Overview (2024 to 2034)

The global insomnia treatment market is expected to be worth US$ 6,886.1 million in 2024. The market is anticipated to expand at a CAGR of 5.2% from 2024 to 2034. The market is predicted to reach US$ 11,385.5 million in 2034. Increasing awareness and understanding of the condition among patients and healthcare professionals is one of the key drivers of the insomnia treatment industry.

As more people come to recognize the impact that insomnia has on their daily lives, they are seeking out treatments to help manage their symptoms. Additionally, advances in medical research and technology have led to the development of more effective and targeted treatments for insomnia. This has allowed healthcare providers to offer patients a wider range of options for managing their condition, from medication to behavioral therapies.

The changes in lifestyle and work patterns have contributed to the rise of insomnia, as many people find themselves struggling to balance their responsibilities with the need for restful sleep. As such, there is a growing need for effective and accessible treatments to help people manage their insomnia and improve their overall quality of life.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 6,886.1 million
Forecasted Market Value (2034F)	US$ 11,385.5 million
Global Market Growth Rate (2024 to 2034)	5.2% CAGR
OTC Drugs Growth Rate (2024 to 2034)	5.4% CAGR
North America Market Share (2024)	34.3%
East Asia Market Share (2024)	16.5%
Key Companies Profiled	Paratek Pharmaceuticals, Inc. Vanda Pharmaceuticals Inc. Sanofi S.A Merck & Co., Inc. Sumitomo Dainippon Pharma Co., Ltd. Teva Pharmaceutical Industries Limited Viatris Inc. Takeda Pharmaceutical Company Limited Pfizer Inc.

What Factors Have Contributed to An Increase in Global Demand for Insomnia Treatment?

“Increasing Prevalence of Sleep Disorders Is Expected to Drive the Growth of the Market”

Due to the rising prevalence of insomnia, the market for insomnia treatment is expected to grow significantly in the coming years. This growth is attributed to the increasing awareness about the condition and its treatment options, as well as the development of more effective and safer drugs for insomnia. Additionally, the growing demand for non-pharmacological treatments, such as cognitive behavioral therapy (CBT) and relaxation techniques, is driving the market growth. With these factors in play, the insomnia treatment market is projected to experience substantial growth during the forecast period.

“The Demand for Over-the-counter Therapeutics Is Projected to Create Attractive Prospects for Insomnia Treatment.”

The increasing demand for over-the-counter (OTC) insomnia therapeutics is expected to drive the market's growth for various reasons. The prevalence of insomnia is increasing globally, leading to a rise in demand for its treatment. OTC drugs are easily available and do not require a prescription, making them more accessible to people suffering from sleep disorders. Additionally, OTC drugs are cost-effective as compared to prescription drugs, which is another factor driving their demand. Lastly, the increasing awareness among consumers about the benefits of OTC sleep aids is contributing to the growth of the market.

Which Factor is a Barrier to the Growth of Insomnia Treatment Demand?

“Some Medication Side Effects of Insomnia Treatment Is Expected to Hamper the Market Growth for The Forecast Period”

Long-term consumption of certain medications used to treat chronic diseases, such as high blood pressure, diabetes, and depression, causes side effects that interfere with the treatment of insomnia. For instance, some medications cause drowsiness or fatigue, while others are predicted to increase wakefulness and make it difficult to fall asleep. As a result, patients need to adjust their medication regimen or seek alternative treatments to manage their insomnia. This is having an impact on the market for insomnia treatments, as some patients choose to forego traditional pharmaceuticals in favor of non-medical treatments or natural remedies.

Apart from the side effects of medication used to treat chronic diseases, other factors hamper the insomnia treatment market. These include the growing popularity of non-pharmacological treatments, such as cognitive behavioral therapy and mindfulness meditation, which are effective in treating insomnia without the risk of side effects associated with medication.

Country-wise Insights

North America is estimated to account for a 34.3% share of the global market in 2024. From 2024 to 2034, the market in North America is expected to rise at a moderate CAGR of 4.7%, with a share of 32.8% by 2034.

East Asia's insomnia treatment industry is anticipated to hold a share of 16.5% in 2024. During the projection period, East Asia's market is projected to rise at a steady 6.9% CAGR, with the region retaining 19.4% of the share through 2034.

What Factors Determine the Continued Growth of the United States Insomnia Treatment Market?

“Increasing Rate of Sleep Disorders in the United States are Expected to Drive Market Progress”

The value of the insomnia treatment industry in the United States for 2024 is estimated to be US$ 2,039 million. Over the forecast period, the market is expected to register an encouraging CAGR of 4.5% in the country, reaching a value of US$ 3,154 million by 2034.

With the increase in cases of sleeping disorders, there has been a rise in demand for insomnia treatment in the country. Insomnia is a common sleep disorder that affects millions of people in the United States. It is characterized by difficulty falling or staying asleep, which leads to daytime fatigue, irritability, and decreased productivity.

Some of the commonly used treatment options for insomnia include medication, cognitive-behavioral therapy, relaxation techniques, and sleep hygiene education. While medication is the most widely used treatment option, there is a growing trend towards non-pharmacologic treatments, such as cognitive-behavioral therapy, due to concerns about the potential side effects of medication.

Why is China considered a Major Market for the Insomnia Treatment Market?

“ Increasing Number of Geriatric Population and Lifestyle Changes in China”

Insomnia is a common problem in China, and as the population ages and lifestyles change, the demand for insomnia treatments is expected to grow. The adoption of generic drugs drive the market for insomnia treatments in China due to the large number of manufacturers in the country. However, there is a growing demand for more innovative and effective treatments, particularly among younger and more affluent consumers. In recent years, there has been a trend towards the development of personalized insomnia treatments in China. These treatments are tailored to the individual needs of each patient and include a combination of medication, behavioral therapy, and lifestyle changes.

Category-wise Insights

Based on drug type, the OTC drugs segment is expected to account for 69.6% of the market share in 2024.

Why do OTC drugs dominate the market for Insomnia Treatment?

“Increasing Demand for Over the Counter (OTC) Drugs Owing to Its Advantages Such as Easily Accessible and There Is No Requirement for Any Type Prescription”

The OTC drugs segment is expected to contribute 69.6% of the market share by drug type in 2024. The OTC drugs are anticipated to witness a rise in demand for insomnia treatment at a CAGR of 5.4% through 2034. The OTC drugs segment in the insomnia treatment market has been growing due to several factors. The OTC drugs are easily accessible and do not require a prescription, making them a convenient option for consumers. Additionally, OTC drugs are typically less expensive than prescription drugs, which makes them an attractive option for those looking for more affordable options for treating their insomnia. Many OTC drugs contain natural ingredients such as melatonin, which is believed to help regulate sleep patterns. This has allowed the growth of the OTC Drugs segment in the insomnia treatment market.

Competitive Landscape

The key players in the insomnia treatment market include Paratek Pharmaceuticals, Inc., Vanda Pharmaceuticals Inc., Sanofi S.A, Merck & Co., Inc., Sumitomo Dainippon Pharma Co., Ltd., Teva Pharmaceutical Industries Limited, Viatris Inc., Takeda Pharmaceutical Company Limited, Pfizer Inc.

Some of the key players in the insomnia treatment industry include pharmaceutical companies. Several startups specialize in developing alternative remedies and supplements for insomnia, such as melatonin and valerian root. With the increasing prevalence of insomnia and related conditions, competition is likely to rise during the forecast period.

In 2021, HoneyNaps revealed plans to launch a digital therapy business to treat insomnia, in addition to monitoring, analyzing, and diagnosing inter-sleep bio-signals. SOMNUM, an artificial intelligence (AI)-based program for diagnosing sleep problems, My SOMNUM, a non-contact sleep analysis and coaching solution, and SOMNUM Medella, a digital treatment for insomnia, comprise the platform.

Segmentation of Insomnia Treatment Market Research

• By Drug Type:

  • OTC Drugs
  • Prescription Drugs

• By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • eCommerce
  • Drug Stores & Hypermarkets

• By Region:

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa