The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.

According to The Business Research Company’s “Insomnia Global Market Report 2023,” the global insomnia market is projected to increase from $4.48 billion in 2022 to $4.72 billion in 2023, with a 5.3% CAGR. It is anticipated to reach $5.72 billion in 2027, with a 4.9% CAGR.

What was the major driver in the insomnia market?
Increasing work-related stress is anticipated to boost the insomnia market. Work-related stress results from work demands surpassing worker resources, causing emotional and physical issues, including insomnia. Treatment for insomnia includes medication and cognitive-behavioral therapies. In 2020, the American Institute of Stress reported a rise in daily stress due to job-related factors, with 25% of US workers citing their job as a significant stressor. Consequently, job-related stress contributes to insomnia market growth.

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What was the key trend in the insomnia market?
Product innovation is a prominent trend in the insomnia market. Major companies in the insomnia therapeutics sector are creating inventive treatments to maintain their market position. An example is WELT, a Korean medical device company, which received approval for its digital insomnia treatment device, WELT-I, from the Ministry of Food and Drug Safety in April 2023. WELT-I is categorized as innovative medical equipment designed to address behavioral, psychological, and cognitive factors that contribute to or worsen insomnia. It employs cognitive behavioral therapy (CBT) in line with clinical insomnia guidelines. Classified as a software as a medical device (SaMD), WELT-I improves sleep quality by personalizing sleep times, analyzing sleep disruption patterns, intervening in patient behaviors, and providing eight weeks of relaxation therapy to reduce tension and anxiety.

Which was the largest region in the insomnia market?
North America was the largest region in the insomnia market in 2022. The regions covered in insomnia report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Who are the insomnia market prominent players?
Major players in the insomnia market are Pfizer Inc., Merck & Co Inc., Sanofi S.A., GlaxoSmithKline plc., Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., Viatris Inc., Astellas Pharma Inc., Sun Pharmaceutical Industries Limited, Eisai Co. Ltd., UCLA Health Insomnia Clinic, Jazz Pharmaceuticals PLC, Aurobindo Pharma Limited, Purdue Pharma LP, Cipla Inc., Dr. Reddy’s Laboratories Ltd., Zydus Lifesciences Limited, Lupin Limited, Mallinckrodt Pharmaceuticals Plc., Fisher & Paykel Healthcare Corporation Limited, ResMed Inc., Sunovion Pharmaceuticals Inc., Casper Sleep Inc., Biocodex Inc., Vanda Pharmaceuticals Inc., Pernix Therapeutics Holdings Inc., SleepScore Labs, Alpha-Stim, Neurim Pharmaceuticals Ltd., and NightWare Inc.

Key insomnia market segments
The global insomnia market is segmented –
1) By Therapy Type: Non-Pharmacological Therapy, Pharmacological Therapy
2) By Drug Class: Anti-Depressants, Melatonin Antagonist, Benzodiazepines, Nonbenzodiazepines, Orexin Antagonist, Other Drug Classes
3) By Route Of Administration: Oral, Parenteral, Other Route Of Administration
4) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

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The Insomnia Global Market Report 2023  provides a comprehensive overview on the insomnia market size, trends and drivers, opportunities, strategies, and companies analysis. Through our reports businesses can effectively analyze data and frame well-informed strategies

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