Selbyville, Delaware, Jan. 12, 2022 (GLOBE NEWSWIRE) –
The sleep disorder market is projected to reach $ 20.5 billion by 2027 the latest study from Global Market Insights Inc. The increasing awareness of sleep disorders and the presence of advanced and effective diagnostic and therapeutic sleep devices will stimulate market growth over the forecast period.
The increasing incidence of sleep disorders such as narcolepsy, insomnia, and obstructive sleep apnea is driving demand for sleep testing devices. The increasing demand for non-invasive diagnostics is also gaining popularity, as it enables disease detection in real time. As a result, these medical tests are becoming increasingly popular in sleep centers, hospitals, and home care facilities in both developing and developed countries. Market expansion is likely to be fueled by increased demand for sleep diagnostic tests during the forecast period.
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The Insomnia segment held 20% of the sleep disorder market share in 2020, led by the increasing prevalence of adult insomnia due to depression and stress. For example, according to the WHO in 2021, 5% of adults will suffer from depression. Depression and post-traumatic stress are two of the leading causes of many symptoms of insomnia. Age and diabetes are also significantly linked to insomnia.
The therapeutic segment in the Sleep Disorders market was valued at $ 12.5 billion in 2020. The demand for therapeutics is increasing as the number of people suffering from sleep apnea soars. According to a Pubmed research report published in 2020, about one seventh of the total adult world population suffers from obstructive sleep apnea. For the treatment of sleep apnea, positive airway pressure devices used with breathing masks are the most common treatment option. The CPAP machines help keep the upper airways open and thereby help the patient sleep better. The growing demand for PAP machines to treat sleep apnea will drive segment growth.
The Asia-Pacific sleep disorder market accounted for around 20% of sales in 2020. The region has a high number of people who suffer from insomnia. For example, the National Medical Journal of India found that the prevalence of sleep disorders is high in India. The study showed that the proportion of patients with insomnia is almost 33% of the adult population in India. Hence, the government in India is popularizing the national sleep policy. It conducts training of health workers in primary health centers to ensure early detection of sleep-related disorders and referral to higher-level centers for treatment. As a result, growing regional demand for better diagnosis and treatment is expected to provide a significant boost to industry growth. In addition, other factors such as the increasing knowledge of sleep problems, the expansion of health infrastructure and changing lifestyles of the population will provide significant development opportunities for the market over the forecast period.
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Major players in the Sleep Disorders 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 NV, Natus Medical Incorporated, ResMed Inc., Somnetics International, Inc., Takeda Pharmaceutical Company Limited, Teleflex Inc., Teva Pharmaceutical Industries Ltd. These companies implement various growth strategies to keep the industry competitive.
Table of contents (ToC) of the report:
Chapter 3 Insomnia Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2016-2027
3.3 Industry influencers
3.3.1 Growth drivers
3.3.2 Pitfalls and challenges in the industry
3.4 Growth potential analysis
3.4.1 According to the type of fault
3.4.2 By product
3.5 COVID-19 impact analysis
3.6 Epidemiology and prevalence landscape
3.6.1 Obstructive Sleep Apnea (OSA)
3.6.3 Restless Legs Syndrome (RLS)
3.7 Porter Analysis
3.8 Competitive Landscape, 2020
3.9 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global market research and advisory service provider that provides syndicated and custom research reports and growth advisory services. Our business intelligence and industry research reports provide clients with penetrating insights and actionable market data that is specifically designed and presented to aid strategic decisions. These comprehensive reports were generated using a proprietary research methodology and are available for key industries such as chemistry, advanced materials, technology, renewable energies and biotechnology.