Narcolepsy Therapeutics Market Size, Share & Industry | 2030

Report Description

The global narcolepsy therapeutics market size is projected to register a substantial CAGR during the forecast period, 2021-2028 attributed to increase in the number of the elderly population and growing incidence of high level stress-related issues.

Narcolepsy is a long-term disorder that results in the occurrence of sudden sleep attacks. The condition is primarily arise when a patient’s ability to sleep or wake up is severely affected by certain neurological disorders. Facing excessive sleepiness during the daytime that can occur anytime lasting from seconds to minutes is one of the major symptoms of narcolepsy.

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In general, the emotional state of the patients gets affected who are diagnosed with narcolepsy. A person suffering from narcolepsy also goes through conditions such as sleep paralysis, obesity, and hallucinations.

As per the estimation by the Narcolepsy Network suggests that in the U.S., nearly 1 out of 2,000 people suffers from the disorder. A report published by Narcolepsy UK suggests that in the U.K. at least 25,000 people are suffering from this disorder and about 75% of these are undiagnosed or misdiagnosed and they remain untreated.

However, it is difficult to diagnose such disorder due to lack of healthcare providers and lack of awareness among people especially in the developing countries. There are several organizations continuously working to create awareness and educate people about the disorder. Some of the organizations that are working actively for such cases are the European Narcolepsy Network, Wake Up Narcolepsy, Narcolepsy Network, and American Sleep Association.

Market Trends, Drivers, Restraints, and Opportunities

• Increase in various healthcare initiatives and awareness campaigns taken by organizations in order to educate people & healthcare professions towards the disorder is a prominent market driver.
• Improving policies for reimbursement regarding narcolepsy and favorable regulatory framework encouraging the development of innovative treatment method are major driving factors of the market.
• Rise in approval of new therapeutic drugs and their successful commercialization in the market are another critical factors propelling the growth of the market.
• Rise in healthcare spending and development of clinical pipelines are expected to boost the growth of the market.
• Adverse effects of narcolepsy drugs and issues concerning around misdiagnosis are major restraining factors expected to hamper the market growth.

Scope of Narcolepsy Therapeutics Market Report

The report on the global narcolepsy therapeutics market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.

Narcolepsy Therapeutics Market Segment Insights

Narcolepsy without cataplexy segment is expected to grow at a fast pace

Based on types, the narcolepsy therapeutics market is divided into secondary narcolepsy, narcolepsy with cataplexy, and narcolepsy without cataplexy. The narcolepsy with cataplexy segment held a major segment of the market in 2019 with a large revenue share and is expected to maintain its dominance during the forecast period.

However, the narcolepsy without cataplexy segment is expected to grow at a fast pace in the coming years owing to an increase in awareness among people organized by several networks including Europe Narcolepsy Network and U.S. Narcolepsy Network.  The first system that is clinically apparent is EDS. In the U.S, the most common cause of EDS is sleep deprivation as suggested by the National Institute of Neurological Disorders and Stroke.

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Sodium oxybate segment is anticipated to expand at a rapid growth rate

On the basis of products, the market is segmented into sodium oxybate, tricyclic antidepressants, central nervous system stimulants, selective serotonin reuptake inhibitor, and others. The sodium oxybate segment is anticipated to expand at a rapid growth rate during the projected period attributed to the existence of favorable reimbursement policies, high cost of the drugs, and an increase in awareness among people regarding available treatments for narcolepsy disorder.

Xyrem is a drug used for the treatment of narcolepsy with cataplexy and associated with EDS approved by the US Food and Drugs Administration and is also recommended by the American Academy of Sleep Medicine (ASSM). Reimbursement for Xyrem is also offered by a majority of insurance companies such as Medicaid and Medicare. The patients, who are not able to afford drugs and do not have access to insurance coverage, are offered assistance programs by various manufacturers. However, drugs such as Provigil and Nuvigil are likely to get expire owing to which CNS stimulants are expected to face a downfall in the revenue share.

Asia Pacific is estimated to register a high CAGR

In terms of regions, the global narcolepsy therapeutics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Europe is expected to hold a major market share in the coming years attributed to a large population affected by such disorder, the presence of healthcare infrastructure and well-established clinics, and research & development for the development of new drugs. On the other hand, the market of Asia Pacific is estimated to register a high CAGR during the projected period owing to rise in awareness among people, development in the economy, and the rise in initiatives taken by governments, and an increase in the investments made in the pharmaceutical & biotechnology sectors in the region.

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