Global Sleeping Medications Market – Industry Trends and Forecast to 2029

Sleeping Medications Market Analysis and Size

The global sleeping medications market is expected to witness significant growth during the forecast period. Factors such as increasing prevalence of mental illness and presence of specialty centres are dominant factors that boost the antidepressants market. The overall health of people is affected because of negative sleeping conditions which lead to long-lasting or chronic diseases like blood pressure, diabetes, arthritis, high, and stroke. In addition to this, several launches of drugs over the year and improvement in treatment are some of the major factors that boost the market growth. COVID-19 had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the global sleeping medications market in the forecast period 2022-2029. The expected CAGR of global sleeping medications market is tend to be around 7.50% in the mentioned forecast period. The market was valued at USD 70 billion in 2021, and it would grow upto USD 124.84 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Sleeping medications, also called sleeping pills, is a class of CNS therapeutics that induces sleep. It is given to the patients who is having difficulty in sleeping. Not getting enough sleep can have major consequences on our work, interpersonal relationships, thinking, mental health, weight and the development of diabetes and heart disease.         

Sleeping Medications Market Scope and Segmentation

Global Sleeping Medications Market Dynamics

Drivers

• Rising Rates of Depression

Around 17.3 million people were suffering from major depressive episodes in the U.S. during 2017 as per the records of the National Institute of mental health (NIMH). The incidence rate is higher in adults aged 18 to 25 years. Hence, with high stress conditions due to several socioeconomic factors and significant spending ability within this range, the segment is expected to flourish at considerable rate during the forecast period.

• Technological Development

Increased technological development in the pharmaceutical industry to manufacture advanced tricyclic antidepressant drugs is expected to boost remunerative opportunities for expansion of the global antidepressant drugs market during the forecast period 2022-2029. Additionally, presence of key manufacturing companies to develop antidepressant drugs boost growth of the market.

Opportunities

• Increasing Cases of Insomnia

Insomnia is the major contributor to the global sleeping medications market in 2020, and is expected to remain dominant during the forecast period, majorly due to the rise in healthcare awareness, increase in incidence of sleep apnea, reduction in physical exercise by the population and growth in geriatric population. All these factors contributes to create opportunity to the market.

• Higher Strategic Collaborations and Acquisitions

The growing mergers & acquisitions among major market players to expand their product portfolio and geographic presence are expected to drive the market growth. For instance, Tris Pharma acquired NextWave, a subsidiary of Pfizer in September 2018. This acquisition is projected to expand Tris Pharma’s product portfolio for treating ADHD patients. Additionally, the increasing innovation in sleeping medications and the development of proper drugs for irregular sleep with fewer side effects are anticipated to boost the demand worldwide.

Restraints/Challenges

• Increased side effects

Several side effects associated with the consumption of excessive sleeping medications such as feeling agitated, shaky or anxious, indigestion and stomach aches, diarrhoea or constipation, loss of appetite could curb the growth of the global sleeping medications market over a forecast period.

• High Cost

The huge expenditure required for developing the sleeping medications surely hamper the market growth.

This global sleeping medications market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global sleeping medications market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Global Sleeping Medications Market  

COVID-19 has left a major public health crisis that has impacted practically every business. Its long-term repercussions are projected to influence industry growth during the forecast period.

The COVID-19 outbreak has led to a deterioration in the demand for sleeping medications due to extensive financial stress. Additionally, the spread of the COVID-19 reflects the downfall in the sleeping medications industry growth because of the major disruptions in the supply chain and the slowdown in production activities. The disturbances in the supply chain, lockdown measures, and limited consumer spending are expected to hamper sleeping medications industry development.

Global Sleeping Medications Market Scope

The global sleeping medications market is segmented on the basis of drug class, application, route of administration, end-users, distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drug Class

• Melatonin Antagonist
• Antidepressants
• Benzodiazepines
• Nonbenzodiazepines
• Others

Application

• Sinusitis
• Migraines
• Glaucoma
• Others

End-Users

• Hospitals
• Homecare
• Speciality Centres
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Sleeping Medications Market Regional Analysis/Insights

The global sleeping medications market is analysed and market size insights and trends are provided by drug class, application, route of administration, end-users, distribution channel as referenced above.

The major countries covered in the global sleeping medications market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America is dominating the global sleeping medications market due to the high prevalence of sleep disorder and technological advancement in treatment procedure.

Asia-Pacific is considered to have lucrative growth due to the presence of key generic pharmaceuticals companies in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Sleeping Medications Market Share Analysis

The global sleeping medications market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global sleeping medications market

Key players operating in the global sleeping medications market include:

• Sun Pharmaceutical Industries Ltd. (India)
• Novartis AG (Switzerland)
• Endo Pharmaceuticals plc (Ireland)
• Mylan N.V. (U.S.)
• Mayne Pharma Group Limited (Australia)
• Teva Pharmaceutical Industries Ltd (Israel)
• Amneal Pharmaceutical Inc (U.S.)
• Avet Pharmaceuticals Inc. (U.S.)
• Aurobindo Pharma (India)
• Wockhardt (India)
• Mayne Pharma Group Limited (Australia)

 

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