The global insomnia therapeutics market is expected to reach $3.45 billion by 2025, according to a new report by Grand View Research.
The market is primarily driven by the presence of patented molecules, potential clinical pipeline candidates, rising stress level, and increase in geriatric population, who find it difficult to fall asleep.
An increase in the prevalence of insomnia, awareness about the condition and availability of safer drugs are anticipated to fuel growth.
Insomnia is estimated to affect approximately 35% of the global population. Different patterns of the condition include difficulty in sleep initiation and maintenance, which is generally accompanied with frequent awakenings awakening too early with trouble sleeping again.
Long-term insomnia can hamper everyday life – If left untreated, this condition may lead to severe depression and nervous breakdown of the patient.
Currently, widely adopted treatment options for insomnia include generic non benzodiazepines and antidepressants, even though other novel agents such as orexin antagonists and melatonin antagonists are available in the market.
The launch of Eisai’s Lemborexant is expected to cater to unmet medical needs in the segment and fuel growth of this market over the forecast period.
According to the United Nations, the global population aged 60 years and above is projected to grow by 56% to reach around 1.4 billion by 2030.