Global Insomnia Market Projected at $3.7 Billion by 2027
written by/ April 26, 2021
The unrelenting rampage of the “coronavirus” on humanity took many lives and our peace of mind along with it. The stress and uncertainty surrounding COVID-19 created a massive worldwide coronasomnia (sleeplessness).
What’s worse, some survivors turn into insomniacs, which is one of the infection’s lasting side effects.
PR Newswire experts revised their projections for the global value of drugs related to insomnia under these conditions. From the estimated $2.8 billion for 2020, new projections now point to a whopping $3.7 billion in value by 2027; a considerable increase to be sure.
Grand View Research is projecting a market worth of $3.45 billion by 2025. Both of these projections are a consequence of the following factors:
- Pandemic and COVID-19-induced sleep problems
- Economic crisis
- Increase in the geriatric population
- Bigger awareness regarding insomnia
Given the increase in insomnia diagnosis, the new estimations highlight an increase in prescription pills and the total market value, which is expected to reach $2.9 billion by 2027.
At the moment, the most popular sleep-inducing drugs include:
- Orexin antagonist
That said, orexin antagonist drugs will be getting a “boost” from Daridorexant — a new promising drug awaiting FDA approval.
As for popular OTC treatments, melatonin supplements are expected to generate $1.5 billion in revenue this year.
For now, the North America region holds the biggest share of the global market and will most likely stay on top, until 2027 at least. In 2010, the US had an outstanding 65.3% share of the world’s sleep aid market. Today the US insomnia market is estimated at $765.1 million.
By 2027, the global leaders in their respective regions are expected to be the US, Germany, Japan, Brazil, and South Africa.