Insomnia Treatment Market Size (2024 - 2029)

Insomnia Treatment Market Analysis

The Insomnia Treatment Market size is estimated at USD 3.58 billion in 2024, and is expected to reach USD 4.60 billion by 2029, growing at a CAGR of 5.16% during the forecast period (2024-2029).

Insomnia occurs when individuals face disturbances in their feelings or abilities due to inadequate or poor-quality sleep. Approximately 10% of the global population have insomnia severe enough to be considered a medical issue. While insomnia is typically not life-threatening, there are numerous treatment options available, such as medications and mental health interventions, to address it.

Based on the Sleep Prioritization Survey 2023 conducted by the American Academy of Sleep Medicine (AASM), it was found that approximately 29% of individuals utilize melatonin either occasionally or regularly. The 2022 survey revealed that 64% of Americans relied on some form of substance occasionally or regularly to aid in falling asleep or staying asleep. Of this percentage, 23% use prescription medication, 27% use melatonin, and 20% use marijuana or CBD. The significant impact on individuals' sleep patterns has resulted in an increased demand for insomnia treatment during the pandemic. Despite this, the necessity for insomnia treatment is anticipated to persist even post-pandemic, thereby contributing to the market's growth in the next five years.

The market is projected to experience growth due to the increasing prevalence of insomnia, rising stress levels, and the growing awareness of various treatment options for this condition. As an illustration, the Sleep Foundation 2023 reported that insomnia is a sleep disorder that affects up to 35% of adults. It is defined by difficulties in falling asleep, staying awake during the night, and achieving the desired duration of sleep until the morning. This disorder can lead to significant consequences, including excessive daytime sleepiness, an elevated risk of car accidents, and widespread health issues resulting from sleep deprivation.

The rising stress levels among the global population are another primary driver for the market's growth. According to the Health and Safety Executive report published in 2023, the number of workers reporting work-related stress, depression, or anxiety in the United Kingdom was approximately 875,000. Such high stress among the population is also expected to drive the market's growth. Insomnia rarely occurs on its own and is frequently associated with other illnesses.

Furthermore, innovative product developments for the treatment of insomnia are also expected to contribute to the market's growth. For instance, in June 2022, Pear Therapeutics reported interim follow-up real-world data from a decentralized trail that showed treatment with Somryst, one of the FDA-authorised digital therapeutics for treating chronic insomnia. This device significantly reduced symptoms of insomnia, anxiety, and depression severity.

Thus, factors such as the prevalence of insomnia, rising awareness for treatment, and increasing product launches are expected to contribute to the market's growth during the forecast period. However, misconceptions about the seriousness of insomnia and patients' non-adherence to the treatment are some factors that may limit market growth during the forecast period.

Insomnia Treatment Industry Segmentation

As per the scope of the report, insomnia is a sleep disorder with one or more symptoms that could include fatigue, inability to focus or concentrate, poor memory, mood disturbance, daytime sleepiness, and low motivation or energy. The insomnia treatment market is segmented by treatment type, distribution channel, and geography. Based on the treatment type, the market is segmented into drugs and devices. By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and other distribution channels. Geographically, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America. The report offers the value (USD) for the above segments.