Jet Lag Therapy Market Size, Top Countries Data, Industry Share, Company Overview, Industrial Statistics, Regional Economy, Development and Forecast to 2027
The growth of the market is attributed to the increase in the number of travelers traveling to different time zones and new product launches associated with insomnia
Market Size – USD 392.0 Million in 2019, Market Growth – CAGR of 4.3%, Market Trends –
Changes in the working shift timings associated with relocation after travel
The global Jet Lag Therapy Market will be worth USD 548.5 million by 2027, according to a current analysis by Emergen Research. Jet lag symptoms cause a wide variety of considerable health hazards to athletes, business executives and seasonal travelers, affecting a wide range of people which is around 1 billion annually. Over the years, it has been found that jet lag has very distinctive effects on the lives of travelers or those affected with this condition. There has a wide range of advancements throughout the development of recent trend setting technologies that possess properties that prevent symptoms with less effects, as compared to traditional product such as prescription drugs and melatonin. Currently, attributing to the consistent R&D activities in conjunction with positive outcomes of clinical trials, the major market players operating in the market are fortunate in developing advanced and price effective tiredness management product like light-weight box, wearable mask, glasses, and ear buds among others.
The incidence rate of jet-lag across the globe continues to be unknown, however it impacts a high proportion of around 31 million travelers who depart from the U.S. on a yearly basis for destinations that cross 5 or more number of zones. The effects of jetlag span over a 100 million people annually across the globe. The primary factors which are attributing to the growth of the jetlag therapy market are: growing elderly population, and rising incidence and prevalence rate of circadian rhythm related issues like tiredness, sleep disorders and winter blues. Moreover, high rate of awareness concerning advanced light therapy and treatment with minimum side-effects is anticipated to drive the growth of medical devices product like wearable light-weight medical care devices.
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Key Highlights From The Report.
- In July 2019, Vanda Pharmaceuticals received the FDA approval as a part of its ongoing review of Vanda’s supplemental New Drug Application (sNDA) for HETLIOZ® (tasimelteon). The drug was developed in order to treat Jet Lag Disorder especially for eastward trans-meridian travelers.
- The medical devices segment, especially the wearable devices has been gaining traction over the years and is likely to grow at a CAGR of 3.9% over the forecast period. This can be attributed to the fact that wearable devices are versatile in nature (in terms of relevance and portability) and are majorly preferred by athletes. attributable to their advancements inside the essential style, thereby, giving a good vary of choices for numerous end-user teams. Furthermore, products like Neuroon, Re-Timer conjointly demonstrates a formidable growth and is expected to continue growing in the future, with growing awareness and emergence of jetlag therapy market across developed countries like US and Japan.
- The cabin crew segment is poised to grow considerably at a CAGR of 4.3% throughout the forecasted period. The latest commercial aircrafts cross time zones at nearly the same rate as the earth rotates, and it is the result of these trans-meridian transitions that ultimately leads to the rapid time zone change syndrome also known as jet lag. Jet lag may often lead to short-term memory and poor decision-making; thereby affecting the overall functioning of the cabin crew, if neglected constantly. To cater to the problem, major airlines throughout the globe are trying to find viable solutions for jet lag, by exploring new forms of solutions for managing the passengers’ as well as their employees’ alertness levels.
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For the purpose of this report, Emergen Research has segmented into the global Jet Lag Therapy Market on the product, distribution channel, end user and region:
- Product Outlook (Revenue, USD Billion; 2017-2027)
- Prescription Drugs
- Herbal and Natural Products
- Medical Devices
- Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Over the Counter
- End User Outlook (Revenue, USD Billion; 2017-2027)
- Business Travelers
- Cabin Crew
- Seasonal Travelers
The report sheds light on the region expected to dominate the Jet Lag Therapy market in the coming years. The report estimates the market size in terms of volume and value and offers an accurate estimate of the market share each region is anticipated to hold during the forecast period. The report analyzes the spread of the Jet Lag Therapy market in key geographies covering North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The regional analysis offers an idea about the production and consumption pattern, import/export, supply and demand ratio, revenue contribution, market share and size, and the presence of prominent players in each region.
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