Sedative Drugs Market: Rise in demand for insomnia drugs to drive the market
Sedative Drugs Market: Overview
- Sedative drugs are substances that moderate activity and excitement while inducing a calming effect. Antianxiety and sedative drugs are used with a variety of different psychiatric disorders, usually in combination with other medications.
- In clinical therapeutics, sedative-hypnotics are used for the treatment of variety of diseases that affect the central nervous system, such as chronic and acute anxiety, anesthesia, seizure control, and insomnia
- Insomnia presents an increasing and significant health issue in the adult as well as pediatric population. Rapid population growth, changing lifestyles, and work pressure have resulted in rising prevalence of insomnia.
- According to the U.S. FDA, the cost of insomnia in the U.S. is over US$ 100 Bn annually. To date, sleeping pills have been by far the most common medical treatment, with nearly nine million adults having taken prescription sleeping pills.
- Increase in prevalence of insomnia and other psychological disorders coupled with growing awareness level is projected to lead to strong growth of the sedative drugs market
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Key Drivers of Global Sedative Drugs Market
- The global sedative drugs market is expected to be driven by increasing investment in research & development for new product innovation, rise in demand for insomnia drugs, and increase in psychological disorders and stress due to changing lifestyle
- Rise in demand for insomnia drugs and market competitiveness has resulted in increase in investment in research & development for new product innovation. This is likely to drive the sedative drugs market.
- Companies are entering into licensing agreements for the development and marketing of insomnia products, acquisition of promising late-stage pipeline assets from smaller firms, and partnership with academia to accelerate development of new drug therapies
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North America to Hold Major Share of Global Sedative Drugs Market
- North America is projected to account for a prominent share of the global market during the forecast period. High research & development activities in the field of pharmaceutical drugs, rising burden of psychological diseases, large number of research institutes, and growing need for new and improved therapies to address medical conditions, are expected to fuel the growth of the market in the region.
- According to a report by the American Academy of Sleep Medicine, approximately one in four people in the U.S. develops insomnia every year. About 30% of the adults in the U.S. have symptoms of insomnia and up to 10% of adults are likely to develop chronic insomnia. Rise in prevalence of sleep disorders among individuals would subsequently lead to uptake of antianxiety drugs, thereby increasing the demand for sedative drugs in the near future.
- Economic growth in India, China, Brazil, Mexico, and other countries in Asia and Latin America has improved the health care infrastructure and accessibility to innovative products and health care services. Moreover, rise in incidence of neurological diseases is expected to drive the sedative drugs market.
Key Players Operating in Global Sedative Drugs Market
Major players operating in the global sedative drugs market are:
- AstraZeneca Plc.
- PAION AG
- Drawbridge Pharmaceuticals Pty Ltd.
- Takeda Pharmaceutical
- Sanofi S.A.
- Novartis International AG
- Abbott Laboratories
- Pfizer Inc.
- Mylan N.V.
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