The Global Sleep Disorder Market is set to grow from USD 1.64 Billion in 2019 to USD 2.86 Billion by 2025, driven by lifestyle changes and an aging population.
Global Sleep Disorder Marketis valued at USD 1.64 Billion in 2019 and expected to reach USD 2.86 Billion by 2025 with the CAGR of 8.29% over the forecast period.”
Increasing geriatric population and modern lifestyle are the major factors driving the growth of Global Sleep Disorder Market.
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Sleep disorders are a group of conditions that affect the ability to sleep well on a regular basis. According to the International Classification of Sleep Disorders, insufficient sleep is defined as sleep pattern that has consistent for at least three months along with complaints of sleepiness during day. A group of conditions that affect the ability to sleep well on a regular basis is called sleep disorder. It is mainly caused due to the modern life style and too much stress. Most of the population generally experience sleeping problems due to stress, hectic schedules etc., but when these issues start to occur on a regular basis, they indicate sleeping disorder. In this disorder, people have a difficult time in sleeping, may feel extremely tired throughout day, negative mood and concentration.
Global sleep disorder market report is segmented on the basis of disorder, device, treatment and by regional & country level. Based on disorder, global sleep disorder market is classified as insomnia, hypersomnia, sleep apnea, sleep breathing disorders, circadian rhythm disorders, parasomnia and sleep movement disorders. Based on device, the market is divided into sleep apnea devices, sleep laboratories and mattresses & pillows. Based on treatment, the market is divided into psychiatric treatment, behavioral treatment, cognitive behavioral therapy and medication therapy.
The regions covered in this sleep disorder market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of sleep disorder is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Sleep Disorder Market Report-
Some major key players for global sleep disorder market are GlaxoSmithKline Plc., Becton Dickson and Company, Royal Philip, Cardinal Health, Natus Medical Incorporated Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., Teva Pharmaceutical Industries Ltd. and others.
Global Sleep Disorder Market Dynamics–
The global sleep disorder market is mainly driven by increasing prevalence of psychological problems such as anxiety, hyper stress, depression and other sleep related disorders. According to World Health Organization (WHO), depression is a common illness and over 264 million people are affected by it, which in long run turns in to sleep disorder or other serious health condition. The prevalence of depression is one of the driving factors of sleep disorder market. There are increasing evidences, mainly from western countries, indicating descending tendencies in average duration of sleep and higher prevalence of insomnia. From national survey in Canada and United states specify that over 20% of adults suffer from insomnia and this percentage is constant with frequent occurrences of short sleep duration in developed countries. These disorders affect the overall society by imposing a significant burden in terms of morbidity and mortality results, along with cost implications, and all this negativity motivates the society to rely on sleep disorder treatments driving the market globally.
Epidemiological evidence finds that sleep disorders are related to premature mortality along with adverse health problems. According to sleep heart study, there was about 29% higher risk of cardiovascular diseases (CVD) who had history of insomnia or poor sleep. These types of statistics prompt people with sleep disorder to seek help from professionals increasing the demand of this market. However, growing number of patent expiry of major sleep disorder drugs and side effects caused by drugs is restraining the market up to some extent. In spite of that, increasing number of geriatric population worldwide will create more opportunities for the market growth in the coming future.
Global Sleep Disorder Market Regional Analysis-
North America is expected to dominate the global sleep disorder market with highest share in terms of revenue within the forecast period due to advanced healthcare infrastructure, awareness of negativity of sleep disorder and increasing number of mental problems happening due to sleep disorder problems in this region. For instance; there is more than 65% of Americans between 20 to 59 age reported having sleeping difficulties regularly. Some of the statistics related to sleep disorder in USA states that, 50-70 million US adults suffer with sleep disorder, about 48% have snoring problem, 4.7% reported falling asleep while driving at least once in a month and approximately 25 Million U.S. adults have obstructive sleep apnea. It has been studied that in USA approximately 66% of patients have positive opinion about CPAP (Continuous Positive Airway Pressure) which helps them in treating sleep disorder, and these types of treatments drive the market growth in this region.
Europe is the second largest market due to growing geriatric population and developed healthcare facilities in this region. According to European commission, the old-age dependency ratio (people aged 65 and above relative to those aged 15 to 64) in the Europe is expected to increase from 29.6% in 2016 to 51.2% in 2070, which will worsen the sleep disorder cases in future.
Asia-Pacific is projected to have the highest growth rate in forecast period due to huge number of population, increasing awareness of sleep disorder, changing life style preference and developing healthcare infrastructure across the region.
Key Benefits for Global Sleep Disorder Market Report-
By Disorder
By Device
By Treatment
Global Sleep Disorder Market: By Regional & Country Analysis
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The article discusses the growth and dynamics of the Global Sleep Disorder Market, projected to reach USD 2.86 Billion by 2025.
Major players include GlaxoSmithKline, Koninklijke Philips, and Teva Pharmaceutical Industries.
Increasing geriatric population, modern lifestyle, and prevalence of psychological issues are key drivers.
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