The Europe Insomnia Market would witness market growth of 3.3% CAGR during the forecast period (2022-2028).
Insomnia is becoming more prevalent across the globe. The industry is likely to advance as a result of rising stress levels, an aging population, and increased knowledge of the available treatment options for this disease. The introduction of medical devices and the development of new technologies are also being supported by the governments. Only a small number of medical devices, including the Fisher Stimulator, Alpha-Stim AID, and EBB Insomnia Therapy, have recently received approval. Nevertheless, they are anticipated to have a greater penetration due to favorable reimbursement policies as well as the development of handset combination therapy for treating insomnia.
The demand for sleep disorder treatment options is anticipated to be driven by rising raising the attention of the target condition as well as increased uptake of novel drugs and technology. Positive results from the use of devices & medications together are anticipated to support insomnia therapeutics over the course of the forecast period. The prevalence of insomnia is rising due to a number of other factors, including side effects from prescription and over-the-counter medications, arthritis, and excessive media consumption before bed. Additionally, the rise in psychiatric disorders and rising noise levels in urban areas are further leading to increasing cases of insomnia.
In contrast to 3% and 68% of those who did not experience sleep issues, it was discovered that 22% of severe insomniacs thought their quality of life was terrible and 28% thought it was good. But only 55% of people with severe insomnia ever have spoken with a doctor about it, and even fewer had done so in the previous 12 months. In Germany, insomnia is a common & ongoing problem, even when it is severe. Even though sleep issues significantly impact patients' quality of life and utilization of healthcare, it is also a condition that is underdiagnosed and for which people are reluctant to seek treatment for unidentified reasons. The insomnia market is expanding in this region as a result of the rising number of insomniac cases.
The Germany market dominated the Europe Insomnia Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $385.3 million by 2028. The UK market is registering a CAGR of 2.4% during (2022 - 2028). Additionally, The France would generate a CAGR of 4% during (2022 - 2028).
Based on Distribution Channel, the market is segmented into Hospital, Retail, and Others. Based on Therapy Type, the market is segmented into Pharmacological and Non-Pharmacological. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Insomnia Market will Hit $5.7 Billion by 2028, at a CAGR of 3.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Currax Pharmaceuticals LLC (Currax Holdings USA LLC), Eisai Co., Ltd., Merck Group, Pfizer, Inc., Vanda Pharmaceuticals, Inc., Cadila Healthcare Ltd. (Zydus Cadila), Sanofi S.A., Viatris, Inc., Takeda Pharmaceutical Company Limited, and Purdue Pharma L.P.
By Distribution Channel
By Therapy Type
By Country
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