The North America Insomnia Market would witness market growth of 2.8% CAGR during the forecast period (2022-2028).
Insomnia and a person's mental health are frequently linked. The insomnia industry is driven by non-pharmacological therapies that improve a person's mental state, such as yoga, hypnotherapy, and cognitive behavioral therapy. Besides that, the demand for sleeping aid devices has increased as more people experience physical difficulties while sleeping, like snoring. These sleep aids are part of the non-pharmacological insomnia medical devices, which is helping the market for treating insomnia grow.
The demand for insomnia treatment has also increased due to the advancement of technology in the healthcare and lifestyle sectors. Health watches and advanced mobile phone software are now on the market, and both are intended to help users keep track of their sleeping patterns. These cutting-edge programs have made a significant difference in user diagnosis and sleep aid. Therefore, the easy accessibility of such cutting-edge software and equipment aids in the market's expansion.
Based on a data sheet revised in November 2021 by the National Institute of Neurological Disorders and Stroke, between 135,000 and 200,000 Americans suffer from narcolepsy. However, given how frequently this condition is misdiagnosed, the actual number could be much higher. According to news reports from September 2021, a phase 3 study also demonstrated that sodium oxybate in an extended-release form helps narcolepsy patients by reducing daytime sleepiness and preventing muscle weakness.
Improved insomnia treatment outcomes in the United States will lead to a rise in the acceptance of these therapies, which will drive the growth of this market in that nation. The increase in funding for research and development in this region is also anticipated to fuel future market expansion in this region.
The US market dominated the North America Insomnia Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,567 million by 2028. The Canada market is witnessing a CAGR of 4.7% during (2022 - 2028). Additionally, The Mexico market is estimated to witness a CAGR of 4.5% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Insomnia Market is Estimated to reach $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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