Insomnia Treatment Market 2020 With 5.5% ~ CAGR Projections Through 2020-2023 Forecast period, Segmentation by Key Regions, Gross Margin, Profit, Analysis, Market Share
The Global Insomnia Treatment Market 2020-2023 Research Report provides idealistic and determined details of the Insomnia Treatment Market, that assist you in promoting ideas with research-based factors. It offers in-depth data, refines variations of the worldwide Insomnia Treatment market to help you in deciding the final strategy. The report features a thorough outlook of the market considering profitability, attractiveness, revenue, and CAGR.
The Insomnia Treatment Market Research Report also focuses on leading industry Manufacturer with information such as company profiles, products, and services offered financial information throughout 2020 – 2023
- Ebb Therapeutics
- Merck & Co.
- Mylan N.V.
- Paratek Pharmaceuticals
- Pfizer Inc.
- Sanofi S.A.
- Sumitomo Dainippon Pharma Co.
- Takeda Pharmaceutical Company Ltd.
- Teva Pharmaceutical Industries Ltd.
- and Vanda Pharmaceuticals Inc. among others
The Insomnia Treatment Market Report offers an accurate financial assessment of each leading Competitor based on their business data that includes estimation of gross margin, Insomnia Treatment Market sales volume, profitability, pricing erection, product value, cost structure, revenue, and growth rate.
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Summary of Insomnia Treatment Market:
Insomnia Treatment Market Overview
The Insomnia Treatment Market is expected to grow, at a CAGR of approximately 5.5% during the forecast period. The insomnia drugs comprise of a wide range of patented drugs as well as generics. The patented drugs hold the larger share of the revenue in developed regions due to better reimbursement policies. On the other hand, generics & branded generics accounted for the largest revenue in developing and underdeveloped regions. Zolpidem is the highest selling insomnia treatment drug, owing to its effectiveness and easy availability. In terms of sales channel distribution, the prescription segment accounted for the largest share of over 80% of the total market revenue in 2017. This segment is expected to maintain its dominance throughout the forecast period owing to an increase in the use of prescription pharmaceuticals.
Increasing Stress Due to 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 revealed that approximately 25% of US adults have conveyed discontent regarding their sleep, of which 10 to 15% claim to experienced insomnia symptoms and 6–10% suffer from insomnia. 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 that population continues to suffer from the 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. Also, a high comorbidity rate has been observed between insomnia and medical or some psychiatric disorders. These statistics are more or less a direct consequence of the increasing stress due to the current lifestyle of the urban population. The other factors such as side effects due to certain OTC and prescription medication, arthritis, high usage of media devices before sleep, are driving the number of people suffering with insomnia, thus boosting the market growth prospects. Moreover, the growth of psychological conditions and constantly increasing noise levels in the urban areas will also propel the insomnia treatment market, during the forecast period.
Patient Non-Adherence due to Characteristic Side Effects of Sleeping Pills to Impede the growth of Insomnia Treatment Market
Insomnia drugs have certain well recognized characteristic side effects which include, drowsiness, light-headedness, memory loss and poor concentration, hallucinations and nightmares, worsening sleep apnea, drug dependence and addiction and drug interactions. Other serious side effects of insomnia drugs include parasomnia and withdrawal symptoms. The most commonly faced side effect of insomnia drugs is daytime drowsiness in patients. This can cause confusion and thereby hamper simple daily tasks like driving. Decision making and concentration also become challenging. Drugs like zaleplon, zopiclone, and zolpidem which are prescribed for a short duration of 15 to 30 days, can cause delusions or hallucinations in certain patients. Some patients complain of nightmares after using insomnia drugs. In a study published on PMC by “PLOS Journal” in 2015 it was found that in patients suffering from insomnia using prescription insomnia drugs, 39.7% reported non-adherence due to forgetfulness and/or inconvenience. Furthermore, 13.6% of the surveyed population reported being non-adherent due to other adverse effects in US. The above-discussed factor along with misconceptions about the seriousness of insomnia will lead to the restricted growth of the Insomnia Treatment Market.
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. Growing need for sleep disorder treatment in the U.S. and Canada coupled with the growing prevalence of sleep disorders is a driving factor for the market in this region. Along with this, the rise in awareness and high health care spending are also expected to drive the market. Other factors that will promote the demand for insomnia drugs include the high prevalence of this illness among the geriatric population and rapidly growing geriatric population in the US.
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Reasons to Purchase the Insomnia Treatment Market Report
The Insomnia Treatment Market 2020-2023 Analysis objectives of the report are:
- To analyze Insomnia Treatment Market regarding growth trends, anticipation and also their participation in the entire sector.
- To equitably share in-depth info regarding the vital elements influencing the increase of industry (growth capacity, probability, drivers and industry-specific challenges and risks).
- To know the Insomnia Treatment Market by distinguishing its many sub-segments.
- To examine and study the market size (volume & value) from the company, essential regions/countries, products and application, background information from 2013 – 2020 and also prediction to 2023.
- To profile the Leading players in the industry and analyze their growth plans.
- To venture the amount and value of sub-markets, depending on key regions.
- Primary worldwide Antifouling Paints and Coatings Market manufacturing companies, to specify, clarify and analyze the product sales amount, value and market share, market rivalry landscape, SWOT analysis, and development plans next coming years.
- To examine competitive progress such as expansions, arrangements, new product launches and acquisitions on the market.
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The growth of this market worldwide is subjected to various factors; including consumer world-class Insomnia Treatment Market of many Insomnia Treatment Market products, inorganic company growth models, price volatility of raw materials, product innovation along with economic prospects in both producer and consumer countries.
In conclusion, Insomnia Treatment Market report presents the descriptive analysis of the parent market based on elite players, present, past and futuristic data that will serve as a profitable guide for all the Insomnia Treatment Market competitors.
Mr. Ajay More
Phone: +14242530807 / + 44 20 3239 8187
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