The global short sleep syndrome treatment market was anticipated to reach a valuation of US$ 8.7 billion in the year 2022. With a CAGR of 8.95% from 2023 to 2033, this market is expected to reach US$ 9.48 billion by 2023 and US$ 29.07 billion by 2033.
The major factors driving the market include:
Aging is also a key factor propelling the growth of the short sleep syndrome treatment market since the aged are the most vulnerable to getting this illness. As sleep problems grow more common, there will be greater demand for short sleep syndrome therapy solutions. Hence, it is anticipated that rising mental stress brought on by an active lifestyle and unhealthy habits would fuel the growth of the market for treating sleep disorders. Owing to the severity of the side effects, patients may be afraid to ingest, which affects demand and sales. Short sleep syndrome treatments may become more popular as a result of growing technological advancement.
Other factors that are predicted to boost this market's growth during the forecast period include growing healthcare spending as well as early detection of the ailment due to improved knowledge of the choices for treatment. The market for short sleep syndrome treatments is being also driven by the rise in other short sleep illnesses such as insomnia, sleep apnea, and narcolepsy.
Several factors could contribute to the growing demand for drugs in various countries throughout the world. Demand is predicted to rise throughout the forecast period as a consequence of continuously better healthcare reimbursement policies. Also, local demand was increased by growing living standards. It is anticipated that these factors would quicken regional market progress in the years to come.
The short sleep syndrome treatment market is anticipated to be dominated by North American players, and this dominance is anticipated to last for a few more years. The market is expected to be driven by the rising incidence of short sleep syndrome therapy, rising awareness, expanding demand for sleep disorder treatment in the USA and Canada, and high healthcare spending. Other elements that are projected to support revenue growth include supportive reimbursement rules for treatments, a solid clinical pipeline, and growing stress levels. Adults assessed their stress levels as 5.0 on a scale of 1 to 10 in 2021, per the American Psychological Association (APA) study. In the previous two years, stress levels among Gen Z people marginally increased, rising to 6.12 in 2021. Thus, it is anticipated that these variables will fuel market expansion in the area during the projection period.
To increase their income share, businesses concentrate on creating innovative chemicals and new chemical entities. Some of the developments are:
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 9.48 billion |
| Projected Market Value in 2033 | US$ 29.07 billion |
| Growth Rate (2023 to 2033) | CAGR of 8.95% from 2023 to 2033 |
Short sleep syndrome is a sleep condition in which an individual gets less than six hours of sleep. The growing stress levels, especially in adults, have resulted in increasing no. of psychological disorders worldwide.
The most common psychological problems that are witnessed are depression and anxiety disorders. These disorders often interfere with sleeping patterns of individuals. The increasing prevalence of these disorders has led to the sleep syndrome treatment market evolve over the last few years.
The impact of COVID-19 on short sleep syndrome treatment market has started to be felt. The breakout of this disease led to lockdowns across globe which has slowed down the growth of many markets. Short sleep syndrome treatment market is no different.
However, the virus has led to major losses in business and as consequences many employees have been laid off across the globe. This may lead to rise in the no. of cases with psychological disorders and is expected to boost the growth of short sleep syndrome market during the forecast period.
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Short sleep syndrome treatment market is expected to grow substantially due to increasing stress as a result of highly active lifestyles of individuals. The increasing usage of media devices world-wide is also expected to boost the growth of the short sleep syndrome treatment market.
However, the misconception about the seriousness of insomnia may restrict the growth of the market. Patient non-adherence due to characteristic side effects of insomnia drugs may also restrain the growth of the short sleep syndrome treatment market.
The global market for short sleep syndrome treatment is expected to grow at a steady rate in the forecast period. On the basis of drug class, the short sleep treatment is segmented into benzodiazepines, nonbenzodiazepines, antidepressants, orexin antagonist, melatonin antagonist and others.
Antidepressants are expected to witness significant growth in the short sleep syndrome treatment market in this segment during forecast period. However, benzodiazepines is also expected to be a great contributor towards the growth of the short sleep syndrome treatment market. On the basis of distribution channel, the global short sleep syndrome treatment is segmented into hospital pharmacies, retail pharmacies, drug stores and online pharmacies.
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Geographically, the short sleep syndrome treatment market is segmented into seven regions viz. South Asia, East Asia, Europe, Latin America, North America, Oceania and Middle East and Africa. The North America is expected to account for the largest share in the short sleep syndrome treatment market due to growing need of treatment for sleep disorders coupled with increasing prevalence of sleep disorders in this region.
Due to Increasing awareness and rise in healthcare spending, Europe is expected to have 2nd largest share in the global short sleep syndrome treatment. East Asia is expected to observe a substantial growth in the short sleep syndrome treatment market due to availability of funds for research and development.
However, the rapidly growing geriatric population and increasing prevalence of sleep disorders and stress in developing countries in this region is expected to contribute towards highest growth in South Asia. In the Middle East and Africa the market growth is expected to be limited due to slow economic growth, underdeveloped infrastructure and lower access to technological advancement.
Some of the players identified in the short sleep syndrome treatment market include:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Tentatively, the global short sleep syndrome treatment market has been segmented on the basis of drug class, distribution channel and region.
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Short Sleep Syndrome Treatment Market
