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Sleep Disorders Treatment Drugs Market size is expected to gain significant traction from 2022 to 2028, owing to the surging prevalence of insomnia and other sleep disturbances among the burgeoning geriatric population worldwide. Furthermore, the introduction of various healthy sleep awareness campaigns to promote the treatment and prevention of sleep disorders will also amplify the market expansion in the upcoming years. Sleep disorders refer to a group of conditions that cause disturbances to sleep on a regular basis, commonly caused by aging, stress, and other outside influences. Nearly 35.2% of U.S. adults report sleeping for less than 7 hours per night on average, according to the National Sleep Foundation. Medical treatment for this condition include sleeping pills and melatonin supplements. Doxepin is one of the approved medications designed to treat people who have trouble falling asleep.
Rising cases of insomnia among adults is one of the key factors fostering sleep disorders treatment drugs market trends over 2022-2028. As per UCSF Health’s estimates, nearly half of American adults experience insomnia at some point in their lives, which could proliferate the demand for sleep disorders treatment medicines. Likewise, the global burden of depression will further propel the deployment of sleep-related disorder treatment, given the link between this mental health disorder and the lack of sleep.
Based on drug class, the melatonin receptor agonists segment will account for a considerable share in the sleep disorders treatment drugs industry by 2028. The segmental growth is on account of the high acceptance of melatonin as first-line pharmacologic therapy for patients with insomnia, alongside the escalating approvals of this drug class, including tasimelteon and ramelteon, to treat sleep disorders. With regards to application, the intrinsic sleep disorders segment is set to amass considerable profits over the forthcoming years, considering the growing obese population worldwide, as excess weight is a common cause of obstructive sleep apnea.
Regionally, the Middle East and Africa sleep disorders treatment drugs market is poised to exhibit a strong growth rate through 2028. This is driven by the mounting cases of medical problems like narcolepsy among students across Saudi Arabia. In addition, the introduction of varied courses and training programs for sleep technologists, alongside a drastic increase in the number of older people in the country, is anticipated to fuel the adoption of medications for sleep disorder treatment in the region.
Some of the key players operating in the sleep disorders treatment drugs industry include Heptares Therapeutics (Sosei Group Corporation), Galenica, Ferring International Center, Evotec, Eisai, Athenex, Merck, Astellas Pharma, and Alexza Pharmaceuticals (Ferrer Therapeutics, Inc.), among others. Innovative product launches, business expansions, strategic partnerships, and acquisitions are some of the initiatives being undertaken by the industry players to reinforce their presence in the global market. For instance, in July 2021, Eisai announced the launch of its in-house-discovered and developed Dayvigo, an orexin receptor antagonist, designed for the treatment of insomnia among adults.
In the wake of the coronavirus pandemic, the prevalence of sleep disorders and psychological distress has soared tremendously among the general population, with increased incidence rates in active COVID-19-infected patients and healthcare professionals. High levels of depression, panic, and other mental and emotional stress, including lack of physical activity and financial consequences, have resulted in altered lifestyles, thus triggering sleep disorders. As per data from the University of Southampton’s Centre for Research on Ageing and ESRC Centre for Population Change, the pandemic has led to a surge in the number of people with sleeping problems from 15.7% to 24.7%. Situations such as these may have bolstered the demand for insomnia treatment and in turn, could impel sleep disorders treatment drugs industry dynamics over the coming years.
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