Insomnia Market Expected to Reach $5,488 Million, globally, by 2023
Portland, OR -- (SBWIRE) -- 02/23/2018 -- The increase in awareness related to long-term effects of insomnia and the severity of the conditions arising due to prolonged insomnia has sought the attention of populace; thereby, leading to increased adoption of insomnia treatments and fueling the market growth.
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Global Insomnia Market was valued at $4,093 million in 2016, and is estimated to reach $5,488 million by 2023, registering a CAGR of 4.2% from 2017 to 2023. Insomnia is a sleep disorder where in the person faces difficultly to sleep or remain asleep. The symptoms include low stamina, daytime sleepiness, depression, and irritability. It is a highly prevalent disorder that affects millions of people, worldwide. Insomnia-related conditions are caused due to disruption in circadian rhythm, chronic pain, hyperthyroidism, menopause, psychological stress, and other medical conditions.
Insomnia is a sleep disorder where in people have problem in falling asleep or remaining asleep. The major causes of insomnia include high stress level, mental disorders, excessive consumptions of caffeine & alcohol, and other medical conditions. Insomnia is categorized into three types depending on the duration of the disorder, namely transient (few days), acute (few weeks), and chronic insomnia (few months or even years).
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Moreover, excessive use of drugs, such as caffeine, alcohol, and nicotine could lead to insomnia. This disorder can be diagnosed in sleep laboratories using various diagnostic devices. Depending on the duration of the disorder, insomnia is divided into three types, namely transient, acute, and chronic insomnia. In transient insomnia, the symptoms persist from a few days to a few weeks; acute insomnia persists for several weeks; and chronic insomnia last for months to a few years.
The impact of the driving factors is expected to surpass the effect of restraints. Moreover, technological advancements have led to higher adoption rate and untapped markets in the developing economies are expected to provide new avenues for the growth of the insomnia market in the near future.
Insomnia Market Key Segments:
By Therapy Type
Cognitive Behavioral Therapy
Other Non-pharmacological Therapy
Prescription Sleep Aids
Over-the-counter Sleep Aids
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