(PharmaNewsWire.Com, November 02, 2017 ) According to Publisher, the Global Insomnia market is expected to grow from $XX million in 2016 to reach $XX million by 2023 with a CAGR of XX%. Working in rational shifts & stressful work conditions, recent technological advancements and increasing demand for OTC sleep aids are some of the factors favoring the market growth. In addition, presence of large undiagnosed insomnia population pool and untapped markets in developing economies are the key opportunities for the market growth. On the contrary, side effects of benzodiazepine and non-benzodiazepine drugs, expiration of patients and increase in non pharmacological therapies are hindering the market growth.
Insomnia is a sleep disorder where in the person faces difficultly to sleep or remain asleep. The indications include depression, irritability, low stamina and daytime sleepiness. It is a highly predominant disorder that affects millions of people, globally. Insomnia-related conditions are caused due to disruption in circadian rhythm, chronic pain, hyperthyroidism, menopause, psychological stress, and other medical conditions. Furthermore, usage of drugs, such as alcohol, nicotine and caffeine will lead to insomnia.
In 2016, North America accounted for the highest market share in the insomnia market and is expected to maintain its dominance throughout the forecast period. In the U.S., the OTC treatment market is expected to hold a greater CAGR to address its growth in the insomnia pharmacological treatment. It is predicted to earn backing from the increasing utilization of melatonin valerian and roots, outstanding to their crucial advantages such as reduced stress levels and low side effects. Asia Pacific also appeared as a proper opportunity to capitalize on with the lifting disposable income and upsurge in the occurrence of chronic diseases.
Some of the key players in global insomnia market include Astellas, Biocodex S A, Consumer Healthcare Inc., Dainippon Sumitomo, ECR Pharmaceuticals, Eisai Co., Flynn Pharma, Johnson & Johnson, Meda Consumer Healthcare Inc., Merck & Co. Inc., Neurim, Pernix, Therapeutics, Pfizer Inc, Purdue Pharma L.P., Sanofi Pasteur, SkyePharma and Takeda Pharmaceutical Company.
Regions Covered: -North America o US o Canada o Mexico -Europe o Germany o UK o Italy o France o Spain o Rest of Europe -Asia Pacific o Japan o China o India o Australia o New Zealand o Rest of Asia Pacific -South America o Argentina o Brazil o Chile o Rest of South America -Middle East & Africa o Saudi Arabia o UAE o Qatar o South Africa o Rest of Middle East & Africa
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