Global Sleep Disorder Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Sleep Disorder Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Sleep Disorder Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 – 2032

Global Sleep Disorder market was valued US $22.5 Billion in 2022 and expected to reach US $70.8 Billion by 2032, growing at a CAGR of 12% during the forecast period 2023-2032.

An inability to fall or stay asleep is a common symptom of a medical disease known as sleep disturbance, sometimes known as insomnia. This illness impairs mental, physical, social, and emotional health in a number of ways. New opportunities in the market are also created by the development of at-home sleep test kits, wearable monitoring devices, and continuous positive airway pressure (CPAP) therapy.

A major factor driving the need for diagnostic and therapy devices is the growing number of patients with comorbidities associated to sleep apnoea. Patients find these devices highly desirable because to their easy-to-use interface and dependability, which facilitates the administration of sleep tests. Between 50 and 70 million people in the US suffer from sleep disorders, according to estimates from the American Sleep Association. Post-traumatic stress disorder (PTSD), anxiety, and depression are common co-occurring illnesses. The increasing inclination towards a sedentary lifestyle is associated with this enhanced prevalence and is anticipated to augment the market growth.

Sleep disorders are common worldwide. According to the American Sleep Association, 50 to 70 million adults in the United States alone have a sleep disorder. Geographical location, age groups, and the particular type of sleep disorder can all have an impact on how common sleep disorders are. One of the most prevalent sleep disorders is insomnia. About thirty percent of people in general report having sleeplessness symptoms. In contrast to OSA or insomnia, narcolepsy is less frequent. In the US, it affects roughly 1 in 2,000 persons. Usually, onset takes place in early adulthood or adolescent. Anxiety and depression are two mental health issues that frequently coexist with sleep disturbances. 50–80% of people who suffer from depression have trouble sleeping. In recent years, there has been an increase in the diagnosis and knowledge of sleep disorders, which could result in higher reported prevalence rates.

Overall, sleep disorders are a significant public health concern due to their widespread prevalence and potential impact on individuals' physical and mental well-being. Early detection and appropriate management are essential for improving the quality of life for those affected by sleep disorders. It is imperative that the patient population become more aware of sleep disorders for a number of reasons. For example, early detection enables timely diagnosis and treatment, both of which can enhance outcomes and quality of life. Numerous sleep disorders, including sleep apnoea, are linked to a number of health hazards, such as obesity, diabetes, and cardiovascular issues. By making people aware of these risks, we may encourage them to take action to address their sleep problems and lower their chance of developing these comorbid diseases. Healthcare professionals are more likely to prioritise the assessment and treatment of sleep disturbances during patient visits as knowledge rises. For those in need of assistance, this may result in more timely and easily accessible care. Increasing knowledge of sleep disorders may have consequences for the workplace.

“Insomnia segment, by disorder, to be largest market from 2023 to 2030.”

The segmentation analysis of disorder segment, the market is segmented into sleep apnea, restless legs syndrome, insomnia, narcolepsy, circadian disorders, and others segment. It is anticipated that insomnia will continue to hold its leading position in the market for sleep disorders treatments during the course of the projected period. This is mostly because insomnia is becoming more and more common. Insomnia is a disorder marked by extreme and uncontrollable daytime tiredness and abrupt loss of muscular tone. According to estimates from the National Institutes of Health (NIH), 30% of the general population reported having sleep disturbances in 2021, and 10% of them reported having symptoms of daytime functional impairment that were compatible with an insomnia diagnosis. In addition, a 2021 article from the National Centre for Biotechnology Information (NCBI) revealed that over 10% of Europeans suffered from chronic sleeplessness on a regular basis.

“Benzodiazepines segment, by drug, to be largest market from 2023 to 2030.”

The segmentation analysis of drug segment, the market is segmented into benzodiazepines, nonbenzodiazepines, and antidepressants. A class of psychotropic medications known as benzodiazepines depresses the central nervous system. They are frequently recommended for a number of illnesses, mostly pertaining to the management of anxiety, sleeplessness, and seizures. Numerous medical diseases, including as anxiety disorders, panic disorders, sleeplessness, muscle spasms, and specific seizure disorders, are treated with these medications. Because of the possibility of tolerance, dependence, and withdrawal symptoms, they are frequently used temporarily.

“North America to be largest region in Sleep Disorder Market.”

By region, the market is divided into North America, Europe, APAC, and Others. Others are further divided into the Middle East and South America. With the largest revenue share predicted for the duration of the forecast period, North America is expected to continue to dominate the global market for sleep disorders. This is explained by the region's sophisticated healthcare system, general public knowledge of the negative consequences of sleep disorders, and the growing number of mental health conditions that result from sleep-related problems. For example, almost 65% of Americans between the ages of 20 and 59 say they have trouble falling asleep on a daily basis. The numbers pertaining to sleep disorders in the United States are startling: roughly 25 million adults in the country suffer from obstructive sleep apnoea, 50–70 million Americans struggle with sleep disorders, 48% report having trouble snoring, and 4.7% admit to falling asleep while driving at least once a month. In addition, almost two-thirds of American patients think favourably of continuous positive airway pressure, or CPAP, therapy for addressing sleep disorders. The region's market is growing thanks in large part to these therapeutic alternatives.

Asia-Pacific is poised to experience the highest growth rate during the forecast period. This surge in growth can be attributed to the region's substantial population, increasing awareness of sleep disorders, evolving lifestyle preferences, and the development of healthcare infrastructure across the region.

Competitive Landscape

The competitive landscape of the Sleep Disorder Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Sleep Disorder holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Sleep Disorder Market is highly competitive, with numerous companies vying for market share.

Major Players:

Merck & Co. Inc.

Idorsia Pharmaceuticals

Sanofi

Pfizer

Dr. Reddy Laboratories

Eli Lilly and Company

Hikma Pharmaceuticals Plc

Jazz Pharmaceuticals, Inc.

Lupin Pharmaceuticals, Inc.

others

Recent Developments:

Idorsia took a big stride forward in May 2022 when they formally unveiled Quviviq, a prescription medication meant to treat sleeplessness. To facilitate the launch and guarantee broad availability, the corporation put together a strong team of five hundred sales representatives. Furthermore, they presented detailed strategies for a proactive direct-to-consumer (DTC) marketing campaign that would highlight the advantages of the product and increase awareness.

During the same year, Oxysleep Max Care launched a state-of-the-art facility that was solely focused on treating sleep issues. This cutting-edge medical centre offers a comprehensive range of rehabilitation amenities and services. The centre uses a singularly comprehensive approach that combines complementary and alternative medicine with cutting-edge scientific research. It is purposefully made to provide all-encompassing remedies that address sleep issues as well as stress relief and bodily detoxification, guaranteeing that patients obtain a thorough and efficient treatment plan.

Jazz Pharmaceuticals plc said in July 2020 that the FDA has approved their medicine, Xyway, to treat cataplexy and excessive daytime drowsiness in narcoleptics who are 15 years of age and older. With the FDA's approval of their ground-breaking treatment for sleep disorders, sales of the drug have surged and market demand has grown, raising projected future revenues.