Sleep Disorder Market: Segmented: By Disorder (Insomnia, Hypersomnia, Sleep Apnea, Sleep Breathing Disorders, Circadian Rhythm Disorders, Parasomnia, Sleep Movement Disorders), By Device (Sleep Apnea Devices, Sleep Laboratories, Mattresses & Pillows), By Treatment (Psychiatric Treatment, Behavioral Treatment, Cognitive Behavioral Therapy, Medication Therapy) And Region - Global Analysis of Market Size, Share & Trends For 2019-2021 And Forecasts To 2031
[ 170 + Pages Research Report ] Sleep Disorder Market to surpass USD 12.2 billion by 2031 from USD 5.9 billion in 2021 at a CAGR of 7.5% in the coming years, i.e., 2021-2031
Sleep disorder is also known as somnipathy. It is a medical condition where a disorder is generated in the sleep pattern or we can say that it is a group of disorders that impact the sleep pattern on a regular basis. The presence of sleep disorders can be ascribed to different factors including health issues, hectic schedules, and high stress. Lack of quality sleep has a negative impact on the overall health and level of concentration of a person. It leads to tiredness during the day.
Global Sleep Disorder Market is expected to project a notable CAGR of 7.5% in 2031.
Mental stress is increasing due to hectic life & unhealthy habits are anticipated to propel the growth of the sleep disorder market. Furthermore, the growing usage of social media and increasing addiction to gadgets such as smartphones and laptops augment the market. In addition, the rise in public and private health coverage, covering sleep clinics is boosting the market.
Insomnia segment to grow with the highest CAGR during 2021-31
Based on Disorder, the global Sleep Disorder Market is fragmented into Insomnia, Hypersomnia, Sleep Apnea, Sleep Breathing Disorders, Circadian Rhythm Disorders, Parasomnia, Sleep Movement Disorders. Insomnia is expected to dominate the global sleep disorders market through the forecast period. This can be attributed to the increasing frequency of insomnia, which causes an irresistible sudden loss of muscle tone and daytime sleepiness. The prevalence of sleep disorders has been expressively increasing over the years, which is expected to generate lucrative market growth opportunities.
Sleep apnea devices segment to grow with the highest CAGR during 2021-31
Global Sleep Disorder Market is classified on the basis of devices into sleep apnea devices, sleep laboratories, and mattresses & pillows. Based on the devices, sleep apnea devices are estimated to share the highest market in terms of revenue. Growing demand for early treatment and increasing patient awareness are the major factors estimated to boost the demand for such devices. Furthermore, large number of patient pool seeking for effective diagnosis and treatments are expected to generate lucrative market growth opportunities.
Increasing awareness regarding the sleep disorders
Increasing awareness about sleep disease among the people and governments of different nations is expected to propel the sleep disorders treatment market. The increasing number of people suffering from various sleep disorders, including hallucinations, sleep paralysis, disrupted nocturnal sleep, insomnia, sleep apnea, narcolepsy, and circadian disorders, caught the attention of governments globally, pushing them to take necessary steps to address this condition.
Product innovation and adoption of different strategies by key market participants
The market is witnessing the development and launch of products that comply with regulatory guidelines Approval and commercialization of new drugs is expected to create lucrative opportunities for the players operating in the global market during the review period.
Side-effects associated with a sleep disorder
An increase in patent expirations and related side effects of these drugs would impede the market growth during the forecast period.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Sleep Disorder Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In North America, the Sleep Disorder market is expected to see remarkable growth during the forecasted period. The increasing number of research studies and growing funding on awareness programs about sleep disorders. Moreover, increasing expenditure on healthcare as well as presence of well-established healthcare sector will augment the industry development.
Globally, Due to the COVID-19 pandemic has faced unprecedented changes in lives. Such a significant stressful life event is also likely to have raised stress levels and shows an impact on market growth. The concern on health management has risen during COVID-19 which has had a beneficial impact on the market growth.
Global Sleep Disorder Market is further segmented by region into:
Sleep Disorder Market Segments:
|The market size value in 2021||USD 5.9 billion|
|The revenue forecast in 2031||USD 12.2 billion|
|Growth Rate||CAGR of 7.5% from 2021 to 2031|
|The base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Disorder, Device, and Treatment|
|Regional scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA|
|Key companies profiled||GlaxoSmithKline plc, Becton Dickson and Company, Cardinal Health, Natus Medical Incorporated Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., and Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc, Cadwell Laboratories Inc.,and Other Prominent Players.|
Sleep Disorder Market size was estimated at USD 5.9 billion in 2021 and is expected to reach USD 12.2 billion by 2031.
Key players are GlaxoSmithKline plc, Becton Dickson and Company, Cardinal Health, Natus Medical Incorporated Takeda Pharmaceutical Company Limited, Koninklijke Philips N.V., and Teva Pharmaceutical Industries Ltd., Astellas Pharma Inc, Cadwell Laboratories Inc., and Other Prominent Players
Insomnia segment and Sleep apnea devices segment is anticipated to hold Sleep Disorder Market
Drivers: Increasing awareness regarding the sleep disorders and Product innovation and adoption of different strategies by key market participants
Sleep disorder is also known as somnipathy. It is a medical condition where a disorder is generated in the sleep pattern or we can say that it is a group of disorders that impact the sleep pattern on a regular basis.
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