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Sleep Disorder Market worth over $20.5bn by 2027

  • Published Date: January 5, 2022

Sleep Disorder Market size is set to surpass USD 20.5 billion by 2027, according to a new research report by Global Market Insights Inc.
 

The frequency of sleep disorders has been expressively increasing over the coming years, due to hectic life & unhealthy habits. Approximately 75% population in the U.S. between age 20 to 60 have frequent sleeping difficulties and suffer sleep disorders. Also, prevalence of obesity and growing awareness regarding negative impact of untreated sleep disorder are also some of the driving factors for the market growth.
 

Rising geriatric population will boost the market expansion

The growing geriatric population will positively impact the sleep disorder market progression. According to the WHO, the world’s population of people aged 60 and above is expected to reach 2 billion by 2050. In 2020, sleep apnea is a common disorder in older population that affects nearly 13% to 32% of people who are above 65 years of age. The growing prevalence of disease in elderly population will generate more demand for sleep disorder medication, and therapeutic devices.
 

Growing R&D activities in restless leg syndrome (RLS) to favor sleep disorder market space

Restless legs syndrome (RLS) segment held 3.2% of the market share in 2020 impelled by several medical problems such as iron deficiency, uremia, hyperthyroidism and others in adults as well as older population. Additionally, in recent years, there have been much research on this syndrome.
 

Browse key industry insights spread across 246 pages with 414 market data tables & 13 figures & charts from the report, Sleep Disorder Market Size By Disorder Type (Sleep Apnea {Obstructive Sleep Apnea, Central Sleep Apnea, Complex Sleep Apnea}, Insomnia, Restless Legs Syndrome (RLS), Narcolepsy), By Product (Diagnostics {Actigraphy Systems Polysomnography {PSG} Device, Respiratory Polygraph, Sleep Screening Devices, Home Sleep Tests}, Therapeutics {Cognitive Behavioral Therapy, Therapeutic Devices [Airway Clearance System, Adaptive Servo-ventilation (ASV), Positive Airway Pressure (PAP) Devices, Oral Appliances, Oxygen Devices], Medication Therapy [Benzodiazepines, Dual Orexin Receptor Antagonists, Melatonin Receptor Agonists, Antidepressants, Others]}), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/sleep-disorder-market
 

Increasing popularity of sleep therapy will favor the sleep disorder therapeutics business

The therapeutic segment is poised to witness 6.6% growth rate through 2027. People suffering with sleep disorders prefer cognitive behavioral therapy as it helps them eliminating the negative thoughts. It helps in identifying the underlying cause of one’s sleep problems. Also, with increasing awareness of sleep therapy sessions the segment is predicted to grow. Many websites such as American Academy of Sleep Medicine allow patient to search for certified sleep center for therapy sessions.
 

Rising prevalence of sleep disorders in European region to enhance the market revenue

Europe sleep disorder market is estimated to attain a CAGR of over 6.3% till 2027 led by the surging prevalence of sleep disorders in the region owing to increasing geriatric population and increasing cases of depression and insomnia in adult population. For instance, according to NHS Inform report, around one in every three people in the UK have insomnia. Also, several awareness programs launched by government and NGOs in the region is positively promoting the industry growth. Furthermore, presence of well-developed healthcare facilities in the region will propel the industry progression during the forecast timeline.
 

Several prominent companies are involved in sleep disorder diagnostics and therapeutics market

Some of the prominent players operating in the sleep disorder market include, Astellas Pharma Inc, Cadwell Laboratories Inc., Cardinal Health, Compumedics Limited, Eisai Co Ltd, Evotec AG, Ferring International Center SA, GlaxoSmithKline plc, Heptares Therapeutics Ltd, Koninklijke Philips N.V., Natus Medical Incorporated, ResMed Inc., Somnetics International, Inc., Takeda Pharmaceutical Company Limited, Teleflex Inc., Teva Pharmaceutical Industries Ltd. These participants are implementing various growth strategies to sustain market competition.
 

Authors: Sumant Ugalmugle, Rupali Swain