The global circadian rhythm sleep disorder market is projected to expand at a favorable rate from 2021 to 2031.
Albany NY, United States: Circadian Rhythm Sleep Disorder Market – Overview
The global circadian rhythm sleep disorder market is projected to expand at a favorable rate from 2021 to 2031 (forecast period). The rising incidence of sleep disorders is expected to drive the growth in the global circadian rhythm sleep disorder market. As per the Centers for Disease Control and Prevention (CDC), approximately 49.2 million people worldwide had sleeping problems in 2017. Rising awareness about sleep disorders and technological improvements is projected to contribute to the global market growth. Furthermore, rising awareness campaigns by various organizations to educate individuals and healthcare professionals about healthy sleep habits are expected to boost the global circadian rhythm sleep therapy market.
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Circadian Rhythm Sleep Disorder Market – Competitive Landscape
Key players operating in the global circadian rhythm sleep disorder market are Takeda Pharmaceutical Company, Vanda Pharmaceuticals, Natus Medical, Teva Pharmaceutical Industries Ltd., Mylan N.V, Compass Health Brands (Carex Health), Fitbit, Koninklijke Philips, Compumedics, Lucimed (Luminette), and others.
Product launches, collaboration, product agreements, and other major advancements are the major methods used by market participants to expand their product portfolio in the worldwide circadian rhythm sleep disorder market.
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Circadian Rhythm Sleep Disorder Market – Trends and Opportunities
It is projected that between 50 and 70 million American individuals have one or more sleep disorders. Among these, circadian rhythm sleep disorder is among the most prevalent and underestimated sleep disorders. The disorder is caused primarily by a person's biological clock failing to synchronize to a 24-hour day. Moreover, about 7% of urban teenagers suffer from delayed sleep phase disorder. Delayed sleep phase syndrome (DSPS) is a common type of circadian rhythm sleep disorder that is particularly prevalent in adolescents and young adults.
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Furthermore, it is projected that 5-10% of patients in sleep clinics with chronic insomnia have delayed sleep phase disorder. As per the study, blind people are more afflicted by the condition than those who can see. Circadian rhythm sleep disorder affects around 55-70% of all people who are completely blind. As a result, the growing incidence of circadian rhythm sleep disorder is expected to boost the adoption of circadian rhythm sleep treatment, thereby propelling the global circadian rhythm sleep disorder market.
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The burgeoning older population and the increasing prevalence of chronic illnesses are two key factors projected to drive the global circadian rhythm sleep disorder market. The world's population is aging, especially in developed countries like the United States, Europe, and Japan. By 2050, the global senior population is anticipated to grow from 760 million to 1 billion. As a result, the expanding older population is anticipated to bolster global circadian rhythm sleep disorder market growth.
Numerous researchers have been examining sleep problems and how circadian disruptions affect human health in recent years. The National Heart, Lung, and Blood Institute supports research to find better strategies to achieve and promote sleep health, raise community awareness, and impact public policy for the improvement of human healthcare.
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Circadian Rhythm Sleep Disorder Market – Regional Landscape
The circadian rhythm sleep disorder market in North America and Europe is expected to expand during the forecast period. This is due to an increase in chronic diseases (depression, obesity, cardiovascular disease) and an aging population. For example, as per the European Commission's 2017 report, 17% of the European population was 65. As a result, the growing senior population is projected to boost the growth of the circadian rhythm sleep disorders market in Europe. According to the National Library of Medicine, the most frequent circadian rhythm sleep disorder is delayed sleep phase disorder, which has an estimated incidence of 0.17% in the US population and a prevalence of 7–16% among adolescents.
The Asia Pacific circadian rhythm sleep disorder market is anticipated to grow due to the region's enormous population, growing awareness of sleep problems, changing lifestyle preferences, and better healthcare infrastructure.
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