Global Sleep-Wake Disorder 2022-2028

Global Sleep-Wake Disorder 2022-2028

The global sleep-wake disorder market is growing at modest CAGR of 5.8% during the forecast period Sleep-wake disorders includes insomnia, sleep apnea, narcolepsy and other breathing-related disorders. There are various pivotal factors that drive the global sleep-wake disorder market which include rising incidence and prevalence rate of sleep-wake disorders, growing sedentary lifestyle, and stress full working environments. According to the American Academy of Sleep Medicine, in 2017, around 1 in 2,000 people have some form of narcolepsy across the globe. As per the American Institute of Stress, around 83% of workers in the US suffer from work-related stress. Due to the mounting workplace stress, the US alone bears a loss of up to $300 billion on a yearly basis. As per the American Psychiatric Association, 10-20% of US citizens complain about sleep disorders in primary care and about one-third of adults suffer from insomnia symptoms in the country and around 6-10% meet the criteria for insomnia disorder. According to the CDC (Centers for Disease Control and Prevention), more than 50 million Americans have chronic sleep disorders.

Moreover, the rising geriatric population also boost the growth of the global sleep-wake disorder market. As per the UN (United Nations), by 2050 around 1 in 6 (16%) citizens will be over the age of 65 years, globally, which was 1 in 11 (9%) in 2021. Old age, obesity and snoring conditions lead to an increase in the rate of various types of sleep disorders which will create significant demand for diagnosis and treatment for obstructive sleep-wake disorders in the near future. European countries and Japan will have a major proportion of the geriatric population in their total population.

Product launches keeps sleep-wake disorder competitive, new medical device creates opportunity for the market. For instance, in September 2021, Royal Philips launched a prescription sleep position therapy device, referred to as NightBalance to support people with positional obstructive sleep apnea (OSA). In April 2021, a French neurotechnology company, Dreem, launched a new iteration of its sleep-tracking headband technology, Dreem 2. In March 2021, Innovative Neurological Devices received the US FDA clearance for the Cervella Cranial Electrotherapy Stimulator- to treat anxiety, depression, and insomnia. Moreover, in 2021, Jazz Pharmaceuticals PLC received the US FDA approval for Xyrem (sodium oxybate) for the treatment of cataplexy and excessive daytime sleepiness in pediatric narcolepsy patients.

Moreover, the global sleep-wake disorder market is segmented on the basis of the type, treatment. Based on type, the market is sub-segmented into insomnia, hypersomnia, sleep apnea, circadian rhythm disorders, and others. CPAP are mainly used to treat sleep apnea which is a major factor for the significant market share of the segment. Insomnia segment is expected to grow at the highest CAGR of 6.5% during the forecast period. Rising incidence and prevalence rate of insomnia due to stress is the major factor for the fastest growth rate for this segment.