Vision Research Report, Recently Announced New Report on “insomnia therapeutics market – Global Industry Analysis, Market Size, Share, Growth, Trends, Region Outlook, And Segment Forecasts, 2021 – 2030″.
Global “Insomnia therapeutics market” Report 2021 covering manufacturers, regions, segments, forecast to 2030 is that the recent research report with correct information and extremely authentic info. The report provides insights on market share, market size, rate, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors. The Insomnia therapeutics research report focuses on the competitive surroundings that has section on company profile covering product specifications, geographical coverage, recent developments, revenue analysis, and market shares. what is more, the report offers strategic recommendations so as to help the consumers to align business goals.
The Insomnia therapeutics market revenue share is set to grow at a yearly rate of 15.3% during 2021-2030, while its valuation is Projected to jump from $ 12.18 Bn in 2020 to $13.45 Bn in 2030.
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Report Highlights
Global insomnia therapeutics market is segmented into following treatment types: drugs and devices. The drugs segment dominated the market in 2016 and accounted for nearly 99.0% of the total revenue and is expected to dominate throughout the forecast period. Primarily pharmaceuticals are used for the treatment of sleep disorders. Moreover, since medical devices for insomnia treatment have been introduced only recently, this segment is still at its nascent stage. As compared to devices, drugs have higher acceptability among physicians’ due to quick results and easy availability.
The drugs segment comprises various patented and generics. Patented drugs accounts for the largest share in terms of revenue in developed regions. On the other hand, generics & branded generics accounted for the largest revenue in developing and underdeveloped regions. Key reasons behind this difference are the presence of price-sensitive population in developing & underdeveloped countries and high cost of patented pharmaceuticals. Zolpidem comprises nearly 70% of the total insomnia treatment drugs, owing to its effectiveness and easy availability.
Low price and positive results of devices are expected to be the major factors promoting demand for devices. Although demand for devices is observed to be significantly low worldwide, insomnia therapeutic devices have started gaining traction in developed countries. Medical devices have benefits like the rapid onset of sleep and longer sleep maintenance among patients who have not achieved positive results through drugs. New devices such as Ebb Insomnia Therapy, Fisher Wallace Stimulator, and Alpha-Stim AID have already received approvals from FDA. Moreover, products such as Sana Sleep are awaiting approval. With the introduction of new therapeutic devices, the market is expected to witness robust growth over the forecast period.
The global demand for insomnia therapeutics has seen a paradigm shift due to rising awareness among patients. The prescription segment accounted for the largest share of over 79.2% of the total market revenue in 2016. This segment is expected to maintain its dominance throughout the forecast period owing to increase in use of prescription pharmaceutical. Moreover, the number of OTC products available is very small. Prolonged use of these drugs may lead to resistance. Hence, majority of the people suffering from sleep disorders seek professional help and use prescription products this segment is expected to grow at a CAGR of 6.4% over the forecast period.
OTC therapeutics comprise active ingredients such as melatonin, diphenhydramine, and tryptophan. Sales of these drugs are anticipated to grow due to the emergence of newer therapeutics with lesser adverse effects. In addition, as OTC drugs do not require prescription, these drugs are easily accessible to patients suffering from acute insomnia or those in early phases. With an increase in the number of such patients, the demand for OTC products is expected to grow.
However, use of these products for the treatment of target disease may have negative effects on patients. As there are no restrictions on the supply of OTC drugs, patients may regularly take medicines to induce sleep, which can lead to drug addiction. As prescription drugs are prescribed by physicians after evaluating a patient’s history and sleep disturbance pattern, people find the treatment procedure suggested by a physician to be highly reliable. Hence, majority of patients suffering from insomnia prefer prescription drugs over OTC, which is anticipated to result in growth of the insomnia therapeutics market.
North America was leading the insomnia therapeutics market and accounted for 54% of the total revenue share in 2016. Growing demand for sleep disorder treatment in the U.S. and Canada coupled with increasing prevalence of sleep disorders, increase in awareness, and high healthcare spending is anticipated to drive the market. Moreover, high prevalence of this disease among geriatric population and rapidly growing geriatric population in the U.S. are expected to be the key driving factors promoting demand. In addition, favorable reimbursement policies for therapeutic products, strong clinical pipeline, and rising stress level are other factors anticipated to promote revenue growth.
North America was followed by Asia Pacific, which accounted for 20.9% of the total market revenue in 2016. Japan has a major contribution to the market owing to high prevalence of target disease and it is estimated that one out of five people in Japan suffer from the same. Emerging economies such as India, China, and Indonesia have been using generics and branded generics due to the economic pricing of generic alternatives. Growing demand for new treatment options and rising prevalence is expected to drive growth during the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period with a CAGR of 7.8% over the forecast period. Shift-work sleep disorder and increased stress level are expected to expand the patient base in Asia Pacific. These factors may contribute to the growing demand for drugs in these economies. In addition, constantly improving healthcare reimbursement policies are expected to boost demand over the forecast period.
Global Insomnia therapeutics market report provides key statistics on the state of the trade and could be a valuable supply of steerage and direction for corporations and people curious about the market. The Insomnia therapeutics trade trends and promoting channels analysed. Insomnia therapeutics Market discovers numerous topics like regional market scope, product market numerous applications, market size consistent with specific product, sales and revenue by region, producing analysis, Industrial Chain, Market result Factors Analysis, market size forecast, and more. Finally, the practicableness of latest investment comes is evaluated and overall analysis conclusions offered.
Key Players
Takeda Pharmaceutical Company Ltd.; Vanda Pharmaceuticals; Merck & Co., Inc.; Pfizer Inc.; Teva Pharmaceutical Industries Ltd.; Mylan N.V.; Sumitomo Dainippon Pharma Co., Ltd; Sanofi; Paratek Pharmaceuticals Inc.; and Ebb Therapeutics.
Market Segmentation
Global Insomnia therapeutics Market: Drivers and Restrains
The analysis report has incorporated the analysis of various factors that augment the market’s growth. It constitutes trends, restraints, and drivers that remodel the market in either a positive or negative manner. This section additionally provides the scope of various segments and applications that may probably influence the market within the future. The elaborated info is predicated on current trends and historic milestones. This section additionally provides an analysis of the amount of production regarding the world market and regarding every kind from 2021-2030.
COVID-19 impact on the Insomnia therapeutics market
COVID-19 is associate communicable disease caused by the novel coronavirus. for the most part unknown before this happening across the world, COVID-19 has captive from a regional crisis to a worldwide pandemic in precisely a matter of a number of weeks. the world Health Organization (WHO) declared COVID-19 as an epidemic on March 11, 2021.
COVID-19 has compact most the industries across the world by disrupting provide chains and impeding numerous industrial operations. COVID-19-responsive measures undertaken by governments, like lockdown and social distancing, led to the closure of producing plants in the initial stage of the pandemic. With only a few industrial operations allowed, the demand for numerous input product within the industrial sector has declined considerably.
Key Highlights Involved in the Market Research Report: –
Insomnia therapeutics Market Study Coverage: It includes key market segments, key makers covered, the scope of product offered within the years thought of, world Insomnia therapeutics Market and study objectives. in addition, it touches the segmentation study provided within the report on the idea of the sort of product and applications.
Insomnia therapeutics Market executive Summary: This section emphasizes the key studies, market rate, competitive landscape, market drivers, trends, and problems additionally to the gross indicators.
Insomnia therapeutics Market Production by Region: The report delivers knowledge associated with import and export, revenue, production, and key players of all regional markets studied area unit coated during this section.
Insomnia therapeutics Market Profile of Manufacturers: Analysis of every market player profiled is elaborated during this section. This section conjointly provides SWOT analysis, products, production, value, capacity, and different very important factors of the individual player.
The report delivers a comprehensive study of all the segments and shares info concerning the leading regions within the market. This report additionally states import/export consumption, offer and demand Figures, cost, business share, policy, price, revenue, and gross margins.
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