According to a report by TechSci Research titled “Narcolepsy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028,” the Global Narcolepsy Market is expected to experience significant growth from 2024 to 2028 due to several factors. One of the primary drivers is the rise in the obese population and the increasing prevalence of narcolepsy among young people worldwide. Additionally, the growing expenditure on healthcare systems and the rise in disposable income in developing regions, particularly in North America and Europe, are expected to create lucrative opportunities for market growth.
The market is also expected to be fueled by the development of new narcolepsy drugs for easier diagnosis and treatment of sleep disorders, including those related to previous brain disorders. Moreover, the increasing adoption of these newly developed treatments and the continued research and development aimed at improving the quality of drugs are expected to drive growth during the forecast period. Furthermore, collaboration with smaller players could help leading players expand their market presence and increase their revenue.
However, the growth of the global narcolepsy market during the forecast period could be slowed by the side effects associated with narcolepsy drugs and concerns around misdiagnosis. Additionally, the lack of awareness about new narcolepsy drugs for the treatment of sleep disorders in emerging countries could further restrict market growth. Finally, the high cost of diagnosis and treatment for narcolepsy could also hinder market growth during the forecast period.
The global narcolepsy market is categorized by type, diagnosis, treatment, end user, and region. In terms of type, the market can be divided into Type 1, Type 2, and Others. The Type 2 segment held the largest market share in 2022 and is projected to continue dominating throughout the forecast period. This is due to the increasing awareness of the benefits of using Type 2 narcolepsy drugs to improve nighttime sleep, especially for those with sleep disorders like hallucinations where sodium oxybate is effective. Furthermore, the rise in stress levels among individuals, leading to a stressful lifestyle and the consumption of harmful addictives like alcohol and tobacco, is expected to drive significant growth opportunities for the narcolepsy market in the coming years.
Regarding end users, the market can be segmented into hospitals, clinics, retail pharmacies, and others. The hospitals segment is anticipated to dominate the market during the forecast period because of the increasing demand for polysomnography, multiple sleep latency tests, and other diagnostic tests to diagnose patients with narcolepsy. Additionally, local, national, and international institutions and organizations are taking initiatives to provide relevant information about available narcolepsy treatment options, which will further boost market growth during the forecast period.
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Major companies operating in the global narcolepsy market are:
- Jazz Pharmaceuticals Plc.
- Bioprojet.
- Arena Pharmaceuticals, Inc.
- Graymark Healthcare, Inc.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Novartis AG.
- Shire
- Shionogi Inc.
- Ligand Pharmaceuticals, Inc.
For instance, in December 2021, Harmony Biosciences Holdings, Inc., a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases, published a data analysis of CNS drugs that evaluated the time to onset of response to pitolisant for excessive daytime sleepiness (EDS) and cataplexy in adult narcolepsy patients.
In January 2022, the United States Food and Drug Administration (FDA) granted Orphan Drug Exclusivity (ODE) for Xywav (calcium, magnesium, potassium, and sodium oxybates), an oral solution developed by Jazz Pharmaceuticals for the treatment of idiopathic hypersomnia in adults.
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“North America is expected to dominate in the Global Narcolepsy Market owing to the growing prevalence of narcoleptic disorders such as obstructive sleep apnea, restless legs syndrome, and insomnia across the region. Similarly, growing healthcare initiatives and awareness campaigns taken by government organizations in order to educate people and healthcare professionals about sleep disorders and new diagnoses is further expected boost the growth of the market during the forecast period. Furthermore, depression and anxiety-related symptoms among the young population are anticipated to drive the growth of the market over the years. Besides, the growing number of new companies in the market and technological advancements in the development of new drugs for the treatment of sleep disorder and growing approval of new drugs and their successful commercialization in the market is further expected to create lucrative opportunities for market growth,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Narcolepsy Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Type 1, Type 2, Others), By Diagnosis (Polysomnogram, Multiple Sleep Latency Test, Others), By Treatment (Stimulants, Antidepressants, Sodium Oxybate, Others), By End User (Hospitals, Clinics, Retail Pharmacies, Others) and By Region”, has evaluated the future growth potential of global narcolepsy market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Global Narcolepsy Market.
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TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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