Global Insomnia Market: Brief Account
The world insomnia market is envisaged to recoup promisingly from its drowsy growth in the past with a number of worthwhile and well-timed opportunities to take advantage of. Insomnia drugs could find an application in the treatment of Parkinson and Alzheimer’s disease as sedatives. The younger population can increase the global demand as intensively as the geriatric group with rising stress levels and persisting diseases such as cancer at the forefront. The launch of new products such as E-2006 by Eisai Co. Ltd. and Belsomra by Merck & Co. Inc. is forecasted to stimulate the market growth handsomely.
The global insomnia market could be segmented according to over-the-counter (OTC) treatment, non-pharmacological treatments, and pharmacological treatments, where each category is evaluated to contribute their part toward the global growth.
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The researchers who have authored this report prioritize painstaking primary and secondary research to compile statistical data and other analytics of the global insomnia market. Players in the market can gain a decisive insight into the guidelines required to extend their portfolio in the right direction and achieve a tangible success in the market.
Global Insomnia Market: Key Trends
With the two premier categorizations of the worldwide insomnia market into play, viz. non-pharmacological treatments and pharmacological treatments, manufacturers can expect lucrative prospects from both the segments. The cognitive behavioral therapy for insomnia (CBTI) listed under non-pharmacological treatments extends the ability of physicians to heal patients or understand their health issues in a comprehensive manner. Such treatments including hypnotherapy can be employed by doctors to take multiple approaches during the treatment of their patients. There are other treatments such as aroma music, bright light, biofeedback, acupuncture, and yoga therapies which could contribute to the growth of the non-pharmacological treatments market.
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Likewise, pharmacological treatments are prognosticated to lay a strong platform for the global insomnia market to find more growth prospects on the back of key segments such as OTC sleep aids and prescription sleep aids.
The international insomnia market could go through a downtime period due to inferior diagnosis rate, below par patient compliance, patent erosion, and ascendancy of generic products. Howbeit, the surging incidences of insomnia and unfulfilled medical needs, for instance, the inefficiency of central nervous system (CNS) drugs, are foreseen to compensate for the probable decline in growth.
Global Insomnia Market: Geographical Study
For the most part of the share in world insomnia market, the Americas including North America are foretold to showcase extensive dominance while offering some groundbreaking opportunities for global players. In the U.S., the OTC treatment market is anticipated to register a higher CAGR to address its growth in the insomnia pharmacological treatment sector. The OTC sleep aids market can be classified into valerian roots, melatonin, and antihistamines. An increasing number of patients are convinced to adopt OTC sleep aids because of the infamous side effects caused by prescription drugs and low prices and easy availability of OTC treatments. The U.S. insomnia market is predicted to gain support from the rising consumption of valerian roots and melatonin, owing to their crucial advantages such as decreased stress levels and less side effects.
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The Americas could be followed by Europe, the Middle East, and Africa on account of the augmenting interest in spreading health awareness through various programs and inflating geriatric population. The insomnia market in Asia Pacific is also looked upon as a decent opportunity for vendors to capitalize on with the elevating disposable income and upsurge in the occurrence of chronic diseases.
Global Insomnia Market: Top Companies
Some of the prominent companies functioning in the international insomnia market are Purdue Pharma L.P., Pernix Therapeutics, Takeda Pharmaceutical Company Ltd., Sanofi, Pfizer, Inc., Meda Consumer Healthcare Inc., Merck & Co. Inc., and Eisai, Co. Ltd.
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