Insomnia Therapeutics Market Size, Share & Trends Analysis Report By Type (Benzodiazepines, Nonbenzodiazepines, Antidepressants), By Sales Channel (Prescription, OTC), By Region, And Segment Forecasts, 2024 - 2030

Insomnia Therapeutics Market Size, Share & Trends Analysis Report By Type (Benzodiazepines, Nonbenzodiazepines, Antidepressants), By Sales Channel (Prescription, OTC), By Region, And Segment Forecasts, 2024 - 2030

Insomnia Therapeutics Market Growth & Trends

The global insomnia therapeutics market is expected to reach USD 3.74 billion by 2030, expanding at a CAGR of 4.4% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is primarily driven by the presence of patented molecules, potential clinical pipeline candidates, rising stress level, and increase in geriatric population who find it difficult to fall asleep. Increase in prevalence of insomnia & awareness about this condition and availability of safer drugs are anticipated to fuel revenue growth.

Insomnia is estimated to affect approximately 35% of the global population. Different patterns of the condition include difficulty in sleep initiation and maintenance, which is generally accompanied with frequent awakenings & awakening too early with trouble sleeping again. Long-term insomnia can hamper everyday life, which may result in nonproductive work hours. If left untreated, this condition may lead to severe depression and nervous breakdown of the patient.

Factors influencing insomnia therapeutics market growth include rising stress level, presence of patented molecules in the market, potential drugs in clinical pipeline, introduction of technologically advanced medical devices, and growing geriatric population. Growing awareness about the impact of sleep deprivation on everyday life is anticipated to increase adoption rate of various treatments for insomnia, which is expected to lead to revenue growth of the insomnia therapeutics market.

Currently, widely adopted treatment options for insomnia include generic nonbenzodiazepines and antidepressants even though other novel agents such as orexin antagonists and melatonin antagonists are available in the market. Launch of Eisai’s Lemborexant is expected to cater to unmet medical needs in this segment and fuel growth of this market over the forecast period. According to United Nations (UN) report in 2015, population in the age group of 60 years and above is projected to grow by 56% and is expected to reach around 1.4 billion by 2030. These statistics indicate the growing geriatric population. Since this population base is more susceptible to sleep deprivation, the demand for insomnia therapeutics is anticipated to increase.

Insomnia Therapeutics Market Report Highlights

• Benzodiazepines dominated the market and accounted for a market share of 28.9% in 2023. Benzodiazepines are useful for insomnia associated with acute stress.
• Over-the-counter accounted for the largest market revenue share of 61.4% in 2023, owing to the increasing number of patients with insomnia.
• The North America insomnia therapeutics market dominated the market in 2023 with a market share of 35.4%.

Please note The report will be delivered in 2-3 business days upon order notification.