Increasing aging and healthcare costs stimulate growth

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Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) — The report “Global Insomnia Market Size, Share & Industry Trends Analysis Report by Distribution Channel, Therapy Type, Regional Outlook and Forecast, 2022-2028” has been added to ResearchAndMarkets.coms to offer.

The size of the global insomnia market is expected to reach $5.7 billion by 2028, growing at a CAGR of 3.9% during the forecast period.

The rise in the prevalence of various sleep disorders, including parasomnias and insomnia, and the rise in mental depression and other painful conditions are the major factors driving the growth of the insomnia market size. Sleep problems are a result of mental depression.

As a result, an increase in mental depression among the general population contributes to the growth of the insomnia market. In addition, taking some medications for a chronic condition over an extended period of time has some side effects that are believed to decrease a patient’s ability to sleep.

In addition, the insomnia market is expanding due to an increase in work-related stress. The increased workload and demanding work schedules result in poor sleep. In addition, many people, including security guards, work in variable shifts and the manufacturing sector is open 24 hours a day.

The quality and rhythm of sleep are affected by these irregular shifts. In recent years there has also been an increase in the number of sleep diagnostics and centers for people with insomnia. The Insomnia Centers help people sleep better and the Sleep Disorder Centers are used as diagnostic testing facilities.

COVID-19 Impact Analysis

The COVID-19 outbreak is expected to benefit the expansion of the insomnia drug market. Malfunctioning industries due to the COVID-19 pandemic caused many workers to lose their jobs, contributing to an increase in stress levels in society.

In addition, some people around the world developed depression due to pandemic anxiety. As a result, the increased incidence of insomnia due to the COVID-19 pandemic, a condition characterized by stress and depression, is increasing the demand for drugs that treat insomnia and driving the expansion of the market.

Market Growth Factors

Increasing aging of the population

According to studies, older people (defined as 65 and older) seem to have an 11 times higher risk of developing some types of cancer than younger people. The burden of cancer among the elderly would then increase as the world’s population ages over the next 20 years.

Refractive errors, cataracts, sleep problems and hearing loss are all quite common in older people. A large proportion of the elderly worldwide have to deal with sleeping problems. Thus, the rise in the aging population would result in an increasing number of insomnia cases, further supporting the growth of the insomnia market over the forecast period.

Increasing healthcare costs

Rising healthcare costs and earlier disease diagnosis due to increased awareness of treatment options are factors expected to drive market growth over the forecast period. Increasing size and number of funds invested in healthcare by governments of different countries is one of the major drivers of the growth of the market.

Governments from a number of countries stepped up their investment in creating healthcare systems as the COVID-19 pandemic first began to spread. As the impact of the pandemic eases, several hospitals are now focusing on using these agents to treat other serious illnesses. The insomnia market is growing due to increasing investment in health care.

Market Limiting Factors

High costs of diagnosing and treating insomnia

The high cost of diagnosis and treatment is one of the major factors hindering the growth of the insomnia market. In addition, the term ‘sleep problem’ covers a wide range of diseases that have significant adverse effects on an individual’s health and a high social cost.

Insomnia makes it difficult to perform daily tasks and comes with a heavy financial and medical burden. Many patients are completely disabled. Insomnia patients spent about twice as much on direct medical care each year as matched controls with no condition. The insomnia market is not growing due to the high cost of the medication.

Main topics:

Chapter 1. Market reach and methodology

Chapter 2. Market overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Affecting the Market
2.2.1 Market Drivers
2.2.2 Market Restrictions

Chapter 3. Strategies deployed in Insomnia Market

Chapter 4. Global Insomnia Market by Distribution Channel
4.1 Global Hospital Market by Region
4.2 Global Retail Market by Region
4.3 Global Others Market by Region

Chapter 5. Global Insomnia Market by Therapy Type
5.1 Global Pharmacology Market by Region
5.2 Global Non-Pharmacology Market by Regions

Chapter 6. Global Insomnia Market by Region

Chapter 7. Company Profiles
7.1 Eisai Co.,Ltd
7.1.1 Business Overview
7.1.2 Financial Analysis
7.1.3 Segmental and Regional Analysis
7.1.4 Research and Development Expenditure
7.1.5 Recent strategies and developments:
7.1.5.1 Product Launches and Product Enhancements:
7.1.5.2 Approvals and tests:
7.2 Takeda Pharmaceutical Company Limited
7.2.1 Business Overview
7.2.2 Financial Analysis
7.2.3 Regional Analysis
7.2.4 Research and Development Expenses
7.2.5 Recent strategies and developments:
7.2.5.1 Approvals and tests:
7.3 Vanda Pharmaceuticals, Inc.
7.3.1 Business Overview
7.3.2 Financial Analysis
7.3.3 Research and Development Expenditure
7.3.4 Recent strategies and developments:
7.3.4.1 Approval and testing:
7.4 Cadila Healthcare Ltd. (Zydus Cadila)
7.4.1 Business Overview
7.4.2 Financial Analysis
7.4.3 Segmental and Regional Analysis
7.4.4 Research and Development Expenses
7.4.5 Recent strategies and developments:
7.4.5.1 Product Launches and Product Enhancements:
7.5 Sanofi SA
7.5.1 Business Overview
7.5.2 Financial Analysis
7.5.3 Segmental and Regional Analysis
7.5.4 Research and Development Expenses
7.5.5 Recent strategies and developments:
7.5.5.1 Geographical Extensions:
7.6 Merck Group
7.6.1 Business Overview
7.6.2 Financial Analysis
7.6.3 Segmental and Regional Analysis
7.6.4 Research and Development Expenses
7.7 Pfizer Inc.
7.7.1 Business Overview
7.7.2 Financial Analysis
7.7.3 Regional and Segment Analysis
7.7.4 Research and Development Expenses
7.8 Viatris, Inc.
7.8.1 Business Overview
7.8.2 Financial Analysis
7.8.3 Segmental and Regional Analysis
7.8.4 Research and Development Expenses
7.9 Currax Pharmaceuticals LLC (Currax Holdings USA LLC)
7.9.1 Business Overview
7.9.2 Recent strategies and developments:
7.9.2.1 Acquisitions and Mergers:
7.9.2.2 Geographical Extensions:
7.10. Purdue Pharma L.P
7.10.1 Business Overview

For more information on this report, please visit https://www.researchandmarkets.com/r/39a8v

Appendix

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Increasing aging and healthcare costs stimulate growth

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