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(Health-NewsWire.Net, October 30, 2020 ) According to a new market research report "US Insomnia Market by Non-Pharmacological Therapy (CBTI, Hypnotherapy), Prescription Sleep Aids (Benzodiazepines, Non-Benzodiazepines (Zaleplon), Orexin Antagonist) & OTC Treatment (Antihistamine, Melatonin, Valerian Root)) - Forecasts to 2021", published by MarketsandMarkets, the insomnia therapeutics market is projected to reach USD 4.24 Billion by 2021 from USD 3.38 Billion in 2016, at a CAGR of 4.6% during the forecast period.
This growth in insomnia therapeutics market can be attributed to the launch of new drugs for the treatment of insomnia and government support to control rising insomnia cost. However, due to the erosion in branded drugs sales and growing adoption of generics attributed to their low cost and equal efficacy as compared to branded products may hinder the growth of the US Insomnia Market.
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Insomnia Therapeutics Market Treatment Types:
Based on the type of treatment, the US Insomnia Market is segmented into non-pharmacological treatment and pharmacological treatment market. The pharmacological treatment market is further is categorized into prescription sleep aids and over-the-counter sleep aids. The OTC sleep aids segment is expected to grow at the highest CAGR during the forecast period. Owing to their easier availability and low price as compared to prescription sleep aids. Furthermore, the publicity regarding the side effects of the prescription sleep aids has also steered the patients towards OTC sleep aid options.
Prescription Sleep Aids:
The prescription sleep aids segment is categorized into non-benzodiazepines, benzodiazepines, orexin antagonists, melatonin receptor agonists, and other prescription sleep aids. The orexin antagonist sleep aids segment is expected to grow at the highest CAGR during the forecast period due to its greater efficacy than non-benzodiazepine and benzodiazepine drugs. The OTC sleep aids is further segmented into antihistamines, melatonin, valerian roots, and other herbal and dietary supplements.
Non-Pharmacological Treatment:
The non-pharmacological treatment market is categorized into cognitive behavioral therapy for insomnia (CBTI), hypnotherapy, and other alternative therapies. The other alternative therapies include exercise/ yoga, acupuncture, biofeedback, bright light therapy, music therapy, and aroma therapy. Most of these therapies are given in combination with CBTI and hypnotherapies in order to provide better results for insomnia patients. CBTI is the highly recommended treatment option for insomnia patients due to its most effective use with multiple approaches such as relaxation training, cognitive therapy, stimulus control (SC), sleep restriction therapy (SRT), sleep hygiene, biofeedback, and others that help doctors to understand and cure patient comprehensively. CBTI is followed by hypnotherapy, due to its advantage of curing insomnia with its root cause.
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Key Players in US Insomnia Market:
Some of the major players in the US Insomnia Market include Eisai Co., Ltd. (Japan), Meda Consumer Healthcare Inc. (U.S.), Merck & Co., Inc. (U.S.), Pernix Therapeutics Holdings (U.S.), Pfizer, Inc. (U.S.), Sanofi S.A. (France), Takeda Pharmaceutical Company Ltd. (Japan), and Vanda Pharmaceuticals, Inc (U.S.).
The insomnia market is currently crowded with generic medicine as the key brands face extensive generic competition. Also these key brands do not have any pipeline products to counter the decline in the sales. Once top selling drug Ambien (Sanofi) and Lunesta (Sunovion Pharmaceuticals) now face generic competition.
To compete in the crowded insomnia therapeutics market, the key players focus on development of products with new mechanisms of action, reformulations of generically available drugs, and strategic partnerships between companies. For instance, in February 2015, Merck & Co., Inc launched Belsomra, a first-in-class prescription sleep aid; an orexin receptor antagonist unlike other insomnia drugs present in the market. E-2006 from Eisai Co., Ltd. is another orexin receptor antagonist currently undergoing clinical trials.
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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