According to FutureWise analysis the market for sleep disorder in 2023 is US$ 25.25 billion, and is expected to reach US$ 63.51 billion by 2031 at a CAGR of 12.2%.
Sleep disorder, also known as somnipathy, is a medical illness in which the sleep cycle is disrupted. Sleep deprivation has a severe impact on a person's general health and ability to concentrate. It causes fatigue throughout the day. Insomnia can disrupt daily living by affecting reaction time to common stimuli, hand-eye coordination, and memory. Narcolepsy is a sleep condition characterised by uncontrollable sleep for periods of less than a minute or more than an hour. Patients with narcolepsy have also been found to have greater sleep attacks after pregnancy, stress, or illness. This disease can lead to serious health problems like allergies and respiratory disorders, as well as chronic discomfort, nocturia, and tension and worry. Mental, physical, social, and emotional functioning are all affected by this illness. However, patent expirations of important sleep problem therapy medications, as well as adverse effects such restlessness and nausea, are limiting market expansion. The industry is augmented by the expanding use of social media and the growing addiction to electronics such as smartphones and laptops. In addition, the industry is being fueled by an increase in public and private health coverage that includes sleep clinics. In addition, continuous research into the negative consequences of sleep deprivation, as well as the growing use of sleep clinics, are bolstering the market. However, an increase in patent expirations, generic competition, and adverse effects associated with sleep disorder medications may stymie the market in the near future.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Sleep Disorder Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Sleep Disorder Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.