Europe Insomnia Market

Between 2022 and 2027, the European insomnia market size is projected to grow at a CAGR of 4.96%.

Insomnia is growing more prevalent all around the world. Rising stress levels, an aging population, and a greater understanding of the different treatment options for this condition are all expected to propel the sector ahead. Furthermore, the availability of numerous generics is projected to drive the European insomnia market throughout the forecast period. Moreover, new technologies and the introduction of medical equipment are projected to enhance the market growth. However, only a few medical devices have been authorized in recent years, including EBB Insomnia Therapy, Fisher Stimulator, and Alpha-Stim AID. Nonetheless, they are likely to have a greater penetration due to favorable reimbursement policies and the development of device-drug combination treatment for treating insomnia.

Demand for sleep problem treatment options is expected to rise as public knowledge of the target illness grows, and new drugs and technologies become more widely available. Therefore, positive outcomes from the combination of devices and pharmaceuticals are expected to drive growth for the European insomnia market throughout the forecast period. In addition, other causes, like side effects from over-the-counter and prescription drugs, arthritis, and excessive use of media devices before bed, are contributing to an increase in the number of people who have insomnia, which boosts market development potential.

The primary challenges limiting the development of the market include patent expiry, insomnia medicine adverse effects, and a lack of knowledge and awareness among ordinary people. Excessive use of sleep medicine has been linked to adverse side effects, and some prescription drugs' patents have expired. Furthermore, greater adoption of generic drugs given at a lesser cost damages the market's growth. Patient noncompliance with therapy and misunderstandings about the importance of insomnia are two difficulties predicted to stymie market expansion throughout the forecast period.

This research report on the European insomnia market has been segmented and sub-segmented into the following categories.

By Therapy Type:

• Non-pharmacological therapy
  • Hypnotherapy
  • Cognitive Behavioral Therapy
  • Medical Devices
  • Other Non-pharmacological Therapy
• Pharmacological Therapy
  • Prescription Sleep Aids
  • OTC Sleep Aids

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

In 2020, Europe was the second-largest area in the global sleep aids market. As a result, throughout the projected period, Europe is likely to occupy a large share of the worldwide market. The expanding population and knowledge about the significance of sleep and its risks are the key drivers of market expansion. Furthermore, a boost in growing activities for disseminating awareness and understanding among the public through different programs, seminars conducted about the value of sound sleep in productivity, and overall health enhanced the market demand for sleep aids.

The United Kingdom and France, being the region's most technologically sophisticated countries, maintain a sizable market share and are expected to develop rapidly over the next several years. In addition, people are becoming more aware of the value of sleep, and ongoing research is being conducted to create strategies to improve sleep quality. As a result, the market expansion rate has been accelerated by technical developments and increasing awareness.

In recent years, Germany has also improved its infrastructure and has become a technological leader. As a result, it anticipates growth in the expected term. The rising knowledge of sleep and the sleep cycle and new product releases in the market as a result of increased research and development efforts and corporate and government financing in research and development activities are the fundamental causes for the region's growth.

KEY MARKET PARTICIPANTS:

Merck & Co., Mylan N.V., Paratek Pharmaceuticals, Inc., Pfizer Inc., Sanofi S.A., Sumitomo Dainippon Pharma Co., Ltd., Takeda Pharmaceutical Company Ltd., Teva Pharmaceutical Industries Ltd., and Vanda Pharmaceuticals Inc. are a few of the leading companies in the Europe insomnia market.