Circadian Rhythm Sleep Treatment Market to Expand at a Steady CAGR of 4.7% by 2028: Persistence Market Research

NEW YORK, March 4, 2019 /PRNewswire/ -- Circadian rhythm sleep treatment follows two pathways, which include utilizing drug therapy or light therapy that involves the usage of certain devices. Circadian rhythm sleep treatment Drug therapy involves the utilization of melatonin and melatonin receptor agonists to balance the melatonin level. In addition, hypnotic medications are utilized in Circadian rhythm sleep treatment drug therapy to induce timely sleep patterns. The Circadian rhythm sleep treatment with light therapy is based on the depression of the suprachiasmatic nucleus, which regulates the activation and depression of the melatonin receptor MT1 and MT2. The utilization of the high light intensity of greater than 5000 LUX alters the perception of the brain for effective circadian rhythm sleep treatment.

An increasing number of people have realized the importance of maintaining a better work schedule and sleep clock for the treatment of jetlag and shift work disorder. Furthermore, increasing demand for the treatment of jetlag and delayed sleep syndrome to gain adequate sleep is estimated to propel the demand for circadian rhythm sleep treatment devices and drugs, which is fuelling the growth of the circadian rhythm sleep treatment market.

According to the latest research by PMR, the global circadian rhythm sleep treatment market is expected to account for over US$ 941.5 Mn in terms of value by the end of 2028. The circadian rhythm sleep treatment market report also estimates a significant growth potential with a CAGR of 4.7% through 2028.

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According to data from CDC, around 50 to 70 million Americans are suffering from sleep disorders and sleep deprivation. About 4% of American adults aged 20 years and above use prescribed sleep medications. The percentage of population using prescription drugs is increasing with education and age. About 9 million U.S. adults are consuming prescription sleep drugs. Among them, women (5.0%) use more prescription sleep drugs than men (3.1%). Moreover, the increasing prescription of sleep drugs for circadian rhythm sleep treatment is expected to boost the circadian rhythm sleep treatment market across the world.

The increasing incidence of sleep-related disorders, especially circadian rhythm sleep disorders, is expected to boost the demand for curative treatment regimens, which is expected to boost the demand for circadian rhythm sleep treatment. Moreover, the high availability of circadian rhythm sleep treatment drugs and devices in the U.S. is fueling the demand for circadian rhythm sleep treatment in North America.

Stress has been found to be among the main characteristics of a modern lifestyle. Factors such as new technologies and socio-cultural tendencies have brought about changes in human behavior. Chronic diseases, such as diabetes, depression, and hypertension, are also some of the factors contributing to this change. These elements bring about changes in an individual's daily routine, including their sleeping habits. Thus, people who find it difficult to fall asleep naturally have started using OTC drugs for the same. Similar scenario is observed in circadian rhythm sleep treatment. Melatonin is considered to be safe in circadian rhythm sleep treatment, due to which it is available over the counter at several pharmacies and health supplement stores.

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In addition, improper sleep and alterations in the internal circadian clock lead to circadian rhythm sleep disorder, which leads to poor quality of sleep. Moreover, hectic work environments, excess workload, and long working hours are also among the factors that hamper the quality and duration of sleep, which is estimated to increase the demand for circadian rhythm sleep treatment. This factor is also estimated to clear the entry barriers for new market entrant in the circadian rhythm sleep treatment market. Rapid advancements in drug efficacy studies are fueling the growth of the circadian rhythm sleep treatment market.

The requirement of regular medication therapy and the adverse effects associated with Circadian rhythm sleep treatment drugs therapy has boosted inclination toward the development of lightweight portable light therapy devices. This is contributing to the growth of the circadian rhythm sleep treatment market.

PMR has segmented the global circadian rhythm sleep treatment market based on treatment type into therapeutic devices, drugs and chronotherapy, as well as diagnostic devices. Based on the disorder type, the circadian rhythm sleep treatment market is further segmented into Delayed Sleep Phase Syndrome (DSPS), Advanced Sleep Phase Syndrome (ASPS), Non–24-h sleep-wake syndrome (Non 24), Irregular Sleep-Wake Disorder (ISWD), shift work disorder and jetlag. On the basis of distribution channel, the circadian rhythm sleep treatment market is further segmented into institutional sales and retail sales.

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In terms of revenue, the DSPS segment of the circadian rhythm sleep treatment market is estimated to hold a major share over the forecast period. According to PMR, the DSPS treatment segment accounted for a revenue share of over 50.2% in the overall circadian rhythm sleep treatment market in 2017. However, the growing adoption of melatonin receptor agonist in the Non 24 segment, due to advantages such as reduced adverse effects and higher efficacy, is projected to fuel the growth of the disorder type segment in the near future. However, the delayed sleep phase syndrome circadian rhythm sleep treatment segment in the circadian rhythm sleep treatment market is projected to exhibit limited investment opportunities in terms of revenue throughout the forecast period.

The company has segmented the global circadian rhythm sleep treatment market based on treatment type, disorder, and distribution channels. In terms of revenue, the institutional sales distribution channel type segment in the circadian rhythm sleep treatment market is expected to a hold significant share over the forecast period. The retail sales distribution channel type segment of the circadian rhythm sleep treatment market is expected to exhibit comparatively low investment opportunities in terms of revenue throughout the forecast period.

The circadian rhythm sleep treatment market report tracks some of the key companies operating in the circadian rhythm sleep treatment market, which include Vanda Pharmaceuticals, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Ltd., Mylan N.V., The Sunbox Company, Verilux, Inc., Carex Health, Northern Light Technologies, Koninklijke Philips N.V., Amjo Corp, and Lucimed SA.

The circadian rhythm sleep treatment market report also covers the key aspects and trends in the circadian rhythm sleep treatment market, which include the average product price, reimbursement scenario, and country-wise device adoption analysis & prevalence.

The information presented in this review is based on a PMR report, titled "Circadian Rhythm Sleep Treatment Market Segmentation By Treatment Type - therapeutic devices, drugs and Chronotherapy; Disorder - Delayed Sleep Phase Syndrome (DSPS), Advanced Sleep Phase Syndrome (ASPS), Non–24-h sleep-wake syndrome (Non 24), Irregular Sleep-Wake Disorder (ISWD), Shift Work Disorder and Jet Lag; Distribution Channel - Institutional Sales and Retail Sales- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028."

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