Summary

The global insomnia treatment market was valued at USD 2,898 million in 2020, and it is expected to reach USD 4,065 million by 2026, registering a CAGR of 5.93% during the forecast period.

Globally, the COVID-19 pandemic has produced unprecedented changes in lives. For many people, it has generated significant stress, anxiety, and worries about health, social isolation, employment, finances, as well as the challenge of combining work and family obligations. Such a major stressful life event is also likely to have impaired sleep and shows an impact on market growth. For instance, according to the American Academy of Sleep Medicine (AASM) Sleep Prioritization Survey 2020, the US adults reported that the COVID-19 pandemic has impacted sleep. About one-third (33%) of adults have experienced an impact to sleep quality, 30% have seen a change in their ability to fall asleep and 29% noted an impact on the nightly amount of sleep. In addition, females were more likely to report that bedtimes (31%) are impacted by the COVID-19 pandemic than males (25%).

Also, =the increasing prevalence of insomnia, rising stress levels, and increasing awareness about various treatment options for this condition are some of the factors expected to propel the market.

According to the American Psychological Association (APA), the Stress in America survey, in 2020, on a scale of 1 to 10, adults rated their stress levels as 5.0, compared to that of 2019, which was 4.9. Moreover, stress levels among Gen Z adults have been increasing slightly over the past two years, i.e., from 5.6 in 2018 and 5.8 in 2019, and 6.1 recorded in 2020. Insomnia hardly occurs in isolation and is usually comorbid with other conditions. Rather than just treating the primary disorder, whereby symptoms of insomnia may go unnoticed or unaddressed, presently there is a push to recognize the existence of chronic insomnia as a disorder, which itself merits treatment. Insomnia patients have increased risk for psychiatric disorders, particularly depression, anxiety, increased healthcare utilization and costs, decreased quality of life, drug, or alcohol abuse, decreased occupational performance, and increased accidents.

Development of new technologies and introduction of medical devices are anticipated to boost market growth. The major market players are playing a significant role in the market. For instance, in June 2020, Eisai Co. Ltd received approval from the US Food and Drug Administration (FDA) and the firm launched its in-house discovered orexin receptor antagonist DAYVIGO (lemborexant) CIV for the treatment of adults with insomnia, characterized by difficulties with sleep onset and/or sleep maintenance in the United States.

The other factors such as side effects due to certain OTC and prescription medication, arthritis, high usage of media devices before sleep, are driving the number of people suffering from insomnia, thus boosting the market growth prospects. Moreover, the growth of psychological conditions and constantly increasing noise levels in the urban areas will also propel the insomnia treatment market, during the forecast period. However, the misconceptions about the seriousness of insomnia and patient non adherence to the treatment are some of the factors that are expected to restraint market growth over the forecast period.

Key Market Trends

Orexin Antagonist Segment is Expected to Grow in the Forecast Period

Reduced efficacy and harmful side effects constrain the use of such treatment options for several patients. Suvorexant (MK-4305, Merck), an ORA (orexin receptor antagonist), is the first in a new class of drugs for treating insomnia. The tablets endorse the natural transition from sleeplessness to sleep by hindering the wakefulness-promoting orexin neurons of the arousal system. Suvorexant advances sleep onset, as well as sleep maintenance. This distinctive alternative has advantageous permissibility and a restricted side-effect profile.

Suvorexant is a potent dual orexin receptor antagonist that blocks both receptors, i.e., OX1R and OX2R. It stimulates sleep through the binding inhibition of orexin-A and B, neuropeptides that promote wakefulness.

Approximately 70,000 orexin neurons are there in the human brain, located in the perifornical lateral hypothalamus, which sends signals throughout the brain and spinal cord. Suvorexant’s mechanism of action varies from that of the benzodiazepines and non-benzodiazepines since it has no effect on Gamma-aminobutyric acid (GABA). As an alternative to promoting sleep, it inactivates wakefulness.

In December 2019, the US Food and Drug Administration (FDA) approved the new drug application for Easai’s in-house discovered and developed orexin receptor antagonist DAYVIGOTM (lemborexant). DAYVIGO was approved for the treatment of insomnia characterized by difficulties with sleep onset and/or sleep maintenance in adults.

Owing to the advancements associated with this class of drugs, the segment is expected to observe a steady growth over the forecast period.

North America is Expected to Dominate the Insomnia Treatment Market

North America leads the insomnia treatment market. The growing need for sleep disorder treatment in the US and Canada coupled with the growing prevalence of sleep disorders is driving the market over the forecast period. According to the American Academy of Sleep Medicine 2020, stress can result in adjustment insomnia, which may affect up to 20% of people in the United States each year. Poor sleeping habits in children lead to behavioral insomnia of childhood, affecting 30% of children. Prescription drugs, substance abuse, medical disorders, and mental health conditions cause insomnia, with about 3% of the population having this type of sleep issue. Specific causes include depression, drug withdrawal, obesity, and anemia.

Additionally, the presence of supportive organizations specific to insomnia in the country is also a major driving factor for the market. The Canadian Sleep Society is one such national organization committed to improving sleep for all Canadians through support for research, promotion of high-quality clinical care, education of professionals and the public, and advocacy for sleep and sleep disorders medicine.

Moreover, the presence of key market players and the Research and Development of new drugs and product launches are expected to boost the growth of the market studied.

For instance, in July 2019, Zydus Cadila launched Ramelteon tablets, used to treat insomnia, in the US market. Similarly, in June 2020, Eisai Co. Ltd launched in-house discovered orexin receptor antagonist DAYVIGO (lemborexant) CIV for the treatment of adults with insomnia, characterized by difficulties with sleep onset and/or sleep maintenance. All these factors are projected to increase the growth of the insomnia treatment market in the North America.

Competitive Landscape

The insomnia treatment market is fragmented in nature owing to the presence of multiple generic manufacturers. A few players operating in the market offer branded drugs options, however, price sensitivity is an issue in several emerging regions. Additionally, major manufacturers are focusing on the development of new molecules to gain a competitive edge and tap the high unmet needs in the market. The major players in the market are Merck & Co., Ebb Therapeutics, Paratek Pharmaceuticals, Inc., Pfizer Inc., Sanofi S.A., Electromedical Products International Inc., Takeda Pharmaceutical Company Ltd., Cerêve Inc., and Innovative Neurological Devices

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Table of Contents

1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Stress Due to Highly Active Lifestyle of Individuals
4.2.2 Side Effects Due to Certain OTC and Prescription Medication
4.2.3 High Usage of Media Devices before Sleep
4.3 Market Restraints
4.3.1 Misconceptions about the Seriousness of Insomnia
4.3.2 Patient Non-Adherence due to Characteristic Side Effects of Insomnia Drugs
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry

5 MARKET SEGMENTATION
5.1 By Treatment Type
5.1.1 By Drug
5.1.1.1 Benzodiazepines
5.1.1.2 Nonbenzodiazepines
5.1.1.3 Orexin Antagonist
5.1.1.4 Other Treatment
5.1.2 Devices
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.2.3 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America

6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Merck & Co.
6.1.2 Ebb Therapeutics
6.1.3 Paratek Pharmaceuticals, Inc.
6.1.4 Pfizer Inc.
6.1.5 Sanofi S.A.
6.1.6 Electromedical Products International Inc.
6.1.7 Takeda Pharmaceutical Company Ltd.
6.1.8 Cerêve Inc.
6.1.9 Innovative Neurological Devices

7 MARKET OPPORTUNITIES AND FUTURE TRENDS