The Global Digital Insomnia Therapeutics Market Size is valued at USD 3.35 billion in 2023 and is predicted to reach USD 5.16 billion by the year 2031 at a 5.6% CAGR during the forecast period for 2024-2031.
Digital therapeutics are evidence-based treatments that include software, applications, and programmes for the diagnosis and treatment of physical, mental, and behavioral disorders. To enhance patient care and health outcomes, digital therapeutics may be employed alone or in combination with drugs, technology, or other therapies. Digital therapy uses a regulated intervention to target the clinical results in line with the established clinical indication and patient population. For unmet medical needs, digital therapies offer patients, providers, and payers new therapeutic options.
Demand for products to treat sleep disorders is anticipated to increase as target illness awareness grows and new medications and devices become more widely used. Nine million individuals who have received pharmaceutical treatment are still dissatisfied. Devices or a combination of medications and devices have been seen to produce good results for this category of dissatisfied patients. Over the course of the forecast period, the market for insomnia treatments is anticipated to rise in terms of revenue due to the positive outcomes demonstrated by the use of devices and medications together.
Competitive Landscape:
Some of the digital insomnia therapeutics market players are:
- Headspace Inc.
- Big Health
- Calm
- Nox Health
- Pear Therapeutics Inc.
- OPTT Inc.
- SilverCloud
- Curv Health
- Bodymatter, Inc.
- PrimeNap
Market Segmentation:
The Digital Insomnia Therapeutics market is segmented on the basis of type and distribution channel. Type segment includes Sleep Tracking Apps, Relaxation and Meditation Apps, CBT-I, Wearable Devices. The distribution channel segment includes hospital pharmacies, retail pharmacies, and other distribution channel.
Based On Distribution Channel, The Sleep Tracking Segment Is Accounted As A Major Contributor In The Digital Insomnia Therapeutics Market
During the forecast period, the sleep tracking apps hold the major contribution in the market. This is due to the growing significance of data and analytics in the healthcare sector. By offering insightful data and information about a person's sleeping habits, sleep tracking apps play a crucial part in the treatment of insomnia. Additionally, sleep tracking applications help people become more conscious of their sleeping habits and provide them the ability to gauge the quantity and quality of their sleep. These apps help users identify the intensity and kind of their insomnia by offering objective data on sleep length, sleep interruptions, and sleep efficiency. An other key aspect influencing this segment's revenue growth is the growing emphasis on tailored advice.
In The Region, The North America Digital Insomnia Therapeutics Market Holds Significant Revenue Share
North America held a 54% revenue share in the market for medicines for treating insomnia. The market is expected to be driven by rising healthcare spending, rising prevalence of sleep disorders, more awareness, and growing demand for sleep disorder treatment in the United States and Canada. Additionally, the high frequency of this disease in the older community and the country's quickly expanding geriatric population are anticipated to be the main factors increasing demand. Other elements that are projected to support revenue growth include supportive reimbursement rules for therapeutic treatments, a solid clinical pipeline, and rising stress levels.
Digital Insomnia Therapeutics Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 3.35 Bn |
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Revenue forecast in 2031 |
USD 5.16 Bn |
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Growth rate CAGR |
CAGR of 5.6% from 2024 to 2031 |
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Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
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Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
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Segments covered |
Type And Application |
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Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
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Competitive Landscape |
Schunk, Conviron, Snijders, Binder, JEIO TECH, Percival, Panasonic, Caron, EGC, Roch Mechatronics, Nihinika, Aralab, Thermo Fisher(US), CARON(US), Zongyi, TOMY Digital Biology, Weisong, and Hengzhong. |
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Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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