Sleep Disorder Treatment Market Is Projected to Grow at a CAGR of 7.84%, Reaching USD 40.0 Billion by 2032 | S&S Insider

The Sleep Disorder Treatment Market is rapidly evolving, driven by a surge in demand for effective treatment options and innovative technologies to address the global sleep crisis.

Austin, Oct. 22, 2024 (GLOBE NEWSWIRE) — The S&S Insider report indicates that, “The sleep disorder treatment market was valued at USD 20.3 billion in 2023 and is expected to reach USD 40.0 billion by the end of 2032 with a CAGR of 7.84% over the forecast period 2024-2032.” It is primarily because the incidence rates for sleep disorders, such as insomnia and sleep apnea, are rising. There is also increased awareness about the influence of sleep on well-being. In addition, technological advancement in treatment alternatives such as new drugs and therapy modalities is likely to improve patient adherence and results.

Market Overview

The strong growth of the sleep disorder treatment market in the coming years is jointly driven by rising demand from the effective treatment side and an increased supply of innovative therapies. Demand for treatment remains higher, among other things, due to lifestyle changes such as more pressure and poor sleep hygiene, which result in a higher prevalence of sleep disorders. With the fast-growing realization that sleep plays an important role in one’s general health and well-being, there has been an increasing demand for better treatment options. Moreover, telemedicine and digital health platforms have enabled more patients to access better care and receive diagnoses and treatments promptly.

The market represents a wide array of therapies, including pharmacological interventions, cognitive behavioral therapy, and lifestyle modification, all aimed at providing holistic management in treating sleep disorders.

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Key Companies:

• Fisher & Paykel Healthcare
• ResMed Inc.
• Philips Healthcare
• Invacare Corporation
• Teleflex Inc.
• BMC Medical Co., Ltd
• Inspire Medical Systems
• Natus Medical Inc.
• Nihon Kohden Corporation
• Compumedics Limited
• Advanced Brain Monitoring
• SleepMed Inc.
• NovaSom, Inc.
• Medtronic plc and Others

Sleep Disorder Treatment Market Report Scope:

Report Attributes	Details
Market Size in 2023	USD 20.3 Billion
Market Size by 2032	USD 40.0 Billion
CAGR	CAGR of 7.84% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	• By Drug Type (Benzodiazepines, Nonbenzodiazepines, Antidepressants, Orexin Antagonists, Melatonin Antagonists, Other Drug Types) • By Application (Insomnia, Sleep Apnea, Narcolepsy, Circadian Disorders, Other Applications)
Key Drivers	• The rising prevalence of sleep disorders poses significant challenges to health and the economy.

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Segment Analysis

By Drug Type

Nonbenzodiazepines held the highest sleep disorder treatment market share of around 35.0% in 2023. They have become the drugs of choice because of their efficacy in inducing sleep with less risk of dependency compared with benzodiazepines. Zolpidem and Eszopiclone are favorites among drugs for favorable side-effect profiles as well as rapid onset of action, making them more favored both by healthcare providers and patients.

On the other hand, orexin antagonists are the most rapidly growing class of drugs, and their growth is likely to be more than 12% over the forecast period. Lemborexant is one of those drugs with a novel mechanism of action blocking the orexin system responsible for wakefulness. Orexin antagonists seem to be a promising alternative for patients, posing a lesser risk of residual daytime sedation. Therefore, they have become the cause of rapid growth for this class of drugs in the market.

By Application

In 2023, the insomnia segment accounted for an estimated 40.0% share of the sleep disorder treatment market. Factors driving the demand for effective treatment options include increasing levels of stress along with lifestyle-related shifts as well as raised awareness of the impact of insomnia on overall health. Increasing demand for alternative therapeutic areas, such as pharmacological interventions and cognitive behavioral therapy, is prompting a focus on addressing the issue of insomnia. The sleep apnea application segment will have the maximum growth, with a projected CAGR of about 10% in the forecast period. The rising trends of sleep apnea in the geriatric population and patients with obesity and hypertension will create a large demand for effective treatments for this condition. Additionally, growing awareness of health risks related to sleep apnea, such as cardiovascular and metabolic disorders, further promotes demand for diagnoses and treatments among patients.

Regional Analysis 

North America held the largest share of the sleep disorder treatment market in 2023, accounting for around 40.0%. The region is characterized by high prevalence rates of sleep disorders and substantial expenditure on healthcare; it is also home to key market players, including major pharmaceutical companies and healthcare providers.
This is further complemented by the increase in awareness and acceptability for sleep disorder treatments, coupled with an increase in telehealth services growth in the region. Advanced treatment options and the region of innovative technologies present in the United States also place it as a leader in the sleep disorder treatment market.

The Asia-Pacific region will be the fastest-growing market for sleep disorder treatment, which is expected to grow exponentially with increasing awareness of sleep disorders, improvement in disposable income, and better healthcare infrastructure. Demand in these regions has significantly increased for sleep disorder treatments in China and India and is also attributed to the change in lifestyle, urbanization, and widespread prevalence of sleep disorders. This region is experiencing several international and local companies that bring innovative treatment solutions to the market as part of the growth.

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New Development

• October 2023: Takeda Pharmaceutical has initiated the use of a new drug approved for chronic insomnia treatment called an orexin antagonist, lemborexant, which in clinical trials showed that patients experienced improved efficacy and safety.
• December 2023 Philips released an advanced version of its DreamStation CPAP device, with the new device having smart connectivity features to offer better patient monitoring and support.
• January 2024: Merck announced the successful results of its late-stage trial for a new sleep disorder treatment, demonstrating significant improvement in sleep quality among participants suffering from insomnia.

Conclusion

The Sleep Disorder Treatment Market is well-poised for growth in the coming years, owing to the increasing prevalence of sleep disorders and improving awareness about their adverse impact on health and well-being. Innovative new treatments will be emerging continually, thus offering better therapeutic choices to providers and patients alike in expanded markets everywhere established to developing regions.

Table of Contents – Major Key Points

1. Introduction

1.1 Market Definition

1.2 Scope (Inclusion and Exclusions)

1.3 Research Assumptions

2. Executive Summary

2.1 Market Overview

2.2 Regional Synopsis

2.3 Competitive Summary

3. Research Methodology

3.1 Top-Down Approach

3.2 Bottom-up Approach

3.3. Data Validation

3.4 Primary Interviews

4. Market Dynamics Impact Analysis

4.1 Market Driving Factors Analysis

4.1.2 Drivers

4.1.2 Restraints

4.1.3 Opportunities

4.1.4 Challenges

4.2 PESTLE Analysis

4.3 Porter’s Five Forces Model

5. Statistical Insights and Trends Reporting

5.1 Incidence and Prevalence (2023)

5.2 Prescription Trends (2023), by Region

5.3 Device Volume, by Region (2020-2032)

5.4 Healthcare Spending, by Region (Government, Commercial, Private, Out-of-Pocket), 2023

6. Competitive Landscape

6.1 List of Major Companies, By Region

6.2 Market Share Analysis, By Region

6.3 Service Benchmarking

6.3.1 Service specifications and features

6.3.2 Pricing

6.4 Strategic Initiatives

6.4.1 Marketing and promotional activities

6.4.2 Distribution and Supply Chain Strategies

6.4.3 Expansion plans and new Service launches

6.4.4 Strategic partnerships and collaborations

6.5 Technological Advancements

6.6 Market Positioning and Branding

7. Sleep Disorder Treatment Market Segmentation, by Drug Type

7.1 Chapter Overview

7.2 Benzodiazepines

7.3 Nonbenzodiazepines

7.4 Antidepressants

7.5 Orexin Antagonists

7.6 Melatonin Antagonists

7.7 Other Drug Types

8. Sleep Disorder Treatment Market Segmentation, by Application

8.1 Chapter Overview

8.2 Insomnia

8.3 Sleep Apnea

8.4 Narcolepsy

8.5 Circadian Disorders

8.6 Other Applications

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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