Narcolepsy Drug Market is valued around USD 2.65 Billion in 2019 and expected to reach USD 6.48 Billion by 2030 with the CAGR of 8.4% over the forecast period.
Narcolepsy drugs are used for the treatment of neurological disorder named narcolepsy and also used for the treatment of sleep apnea. Narcolepsy is a condition which hampers the sleeping patterns and sleep quality of an individual with further advancement includes lack of muscle strength, hallucination and others. All the symptoms can be fatal in a long term with undiagnosed nature of the disease for a long period of time owing to the low prevalence rate and lack of proper knowledge about it. Due to the undiagnosed nature of disease it is also classified into orphan disease.
Global Narcolepsy Drug Market report is segmented on the basis of disease type, diagnosis, drug type and by regional. Based upon disease type, the narcolepsy drug market is fragmented into narcolepsy type I and narcolepsy type II. On the basis of diagnosis, the market is categorized into Polysomnogram, and Multiple Sleep Latency Test. Based on drug type, the market is fragmented into Central Nervous System Stimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin Reuptake Inhibitor, and Others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
The narcolepsy drugs market is mainly driven by the changing lifestyle among young individuals with increased consumption of alcohol, tobacco, smoking and other which disturbs the sleeping patterns. Moreover, rising stress level and amplification in public awareness about various sleep disorders are also act as the major driving factors. Moreover, increase in government initiatives to create awareness about orphan disease as well as life threatening symptoms are also likely to promote market growth. However, lack of awareness, diagnosis & treatment among people are expected to inhibit the market growth. On the other hand, increase in research & development activities along with FDA approvals are likely to create new avenues in the market.
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The developed regions such as North America and Europe are expected to hold the major market share owing to the presence of major market players in the region together with increasing FDA approvals to the new & advanced drugs as well as presence of well-established healthcare facilities & infrastructure. Moreover, Asia Pacific is expected to dominate the narcolepsy drug market in terms of growth rate owing to the developing healthcare facilities. In addition, improved public awareness about sleep disorder along with surge in disposable income is also expected to fuel the market growth.
The major market players profiled in the narcolepsy drug market includes Addrenex Pharmaceuticals, Arena Pharmaceuticals, Shire Plc, Teva Pharmaceutical Industries Ltd., Bioprojet, Ligand Pharmaceuticals, Jazz Pharmaceuticals Plc., and Graymark Healthcare, Inc among others.
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