According to a new study titled ‘sleep disorder market Share, Size, Trends, & Industry Analysis Report, By Disorder (Insomnia, Hypersomnia, Sleep Apnea, Sleep Breathing Disorders, Circadian Rhythm Disorders, Parasomnia, Sleep Movement Disorders); By Device; By Treatment; By Region: Segment Forecast, 2018 - 2026’ available with Market Study Report LLC, the sleep disorder market valuation had been recorded at USD 1.31 billion in 2017.
According to the report, in the year 2017, the sleep apnea devices segment dominated the global market, in terms of profit. With regards to regional growth, the Asia-Pacific market was the fastest-growing contributor to the overall sleep disorder market revenue in 2017.
Sleep is the natural periodic suspension of consciousness, which helps in restoring energy levels in the body. Changes in the quality and pattern of sleep can lead to sleep disorder. Sleep disorder is described as a sleep problem, which is marked by depression, snoring, insomnia, and sleep apnea. As per a recent study, it was revealed that almost over 75% of individuals in the United States between the age group 25-59 are affected by sleep disorders. The common symptoms involve difficulty in falling asleep, lack of concentration, daytime fatigue, depression, and anxiety.
The report cites that changing work culture, rapidly growing geriatric population, and lack of good sleep are set to boost sleep disorder market growth during the estimated timeframe. On the other hand, the increasing prevalence of diseases due to sleep disorders has raised healthcare costs and side-effects of the drugs and growing patent expiries that are utilized in treating patients with sleep disorders, are predicted to hinder market growth during the forecast period. Sleep disorder treatments commonly include inculcating better sleeping habits, medication, and devices. Patients often receive FDA approved medications such as Intermezzo (zolpidem tartrate sublingual tablet) by Transcept Pharmaceuticals, Hetlioz (tasimelteon) by Vanda Pharmaceuticals, Silenor (doxepin) by Somaxon Pharma, which help them battle sleep disorder.
The report has categorized the industry based on disorder type, treatment, device, and regional landscape. Depending on disorder type, the market is bifurcated into sleep breathing disorders, sleep apnea, hyper insomnia, insomnia, parasomnia, circadian rhythm disorders, and sleep movement disorders. Based on devices, the market is bifurcated into sleep laboratories, sleep apnea devices, pillows, and mattresses. On the basis of treatment, the market is further classified into behavioral treatment, psychiatric treatment, medication therapy, and cognitive behavioral therapy, the report cited.
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Some key findings of the report include:
• Key propellers of the sleep disorder market growth are the rising number of people suffering from mental disorders along with the increasing awareness regarding the treatment of sleep disorders in the coming years.
• Change in living standards and the shifting preference toward a sedentary lifestyle are also expected to support market growth in the coming years.
• North America is anticipated to prevail as the leading region during the predicted timeline. The high proportion of the populace suffering from sleeping disorders is the foremost factor responsible for the regional market growth.
• Asia Pacific is estimated to emerge as the fastest growing region in terms of revenue, due to the growing awareness pertaining to sleep disorders and growing healthcare infrastructure.
The report provides an in-depth analysis of the global sleep disorder market drivers, restraints, valuations, and growth prospects over the forecast period. A deep dive analysis of the report in terms of industry trends, product benchmarking, recent developments, financials, company profiles, regional landscape, and competitive ranking analysis has also been detailed in the report.
The competitive landscape of the sleep disorder market includes key industry players like Becton Dickson and Company, GlaxoSmithKline plc, Natus Medical Incorporated Takeda Pharmaceutical Company Limited, Cardinal Health, Teva Pharmaceutical Industries Ltd and Koninklijke Philips N.V. These companies launch pioneering treatments and often join forces with other market leaders to innovate new products that satisfy the rising demand, thereby augmenting the global sleep disorder market size.