Narcolepsy Therapeutics Market to Grow with a CAGR of 6.87% through 2028
Growing demand for timely and accurate diagnostic
solutions is expected to drive the Global Narcolepsy Therapeutics Market growth
in the forecast period, 2024-2028.
According to TechSci Research report, “Narcolepsy
Therapeutics Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Narcolepsy Therapeutics
Market stood at USD 2.81 billion in 2022 and is anticipated to grow with a CAGR
of 6.87% in the forecast period, 2024-2028. One of the primary drivers of the
global narcolepsy therapeutics market is the increasing awareness of narcolepsy
among healthcare professionals and the general population. As awareness grows,
more individuals with narcolepsy are being properly diagnosed, which, in turn,
drives the demand for therapeutics. Healthcare providers are better equipped to
identify the symptoms of narcolepsy, leading to earlier intervention and
treatment.
The prevalence of narcolepsy is higher than previously
believed, with many cases going undiagnosed for years. As diagnostic techniques
improve and awareness spreads, more people are seeking medical attention for
symptoms such as excessive daytime sleepiness and cataplexy. This expansion of
the patient pool is a significant driver of the market, creating a growing
demand for narcolepsy therapeutics.
The development of more accurate and accessible
diagnostic tools is another crucial driver for the narcolepsy therapeutics
market. Polysomnography and multiple sleep latency tests have become more
refined, allowing for the early and precise diagnosis of narcolepsy.
Additionally, advancements in genetic testing and biomarkers are aiding in the
identification of specific subtypes of narcolepsy, leading to tailored
treatment strategies.
Pharmaceutical companies are investing heavily in
research and development to introduce innovative drug therapies for narcolepsy.
Existing medications, such as stimulants and sodium oxybate, have been
effective in managing symptoms, but there is a growing demand for more targeted
and efficient treatments. Orexin receptor agonists, which work on the
neurotransmitter orexin (a deficiency of which is linked to narcolepsy), have
shown great promise in clinical trials. These novel drug therapies are expected
to drive market growth by providing patients with improved treatment options.
The global healthcare industry is experiencing
significant growth, with governments and private sector entities increasing
their investments in healthcare infrastructure. This heightened spending is
beneficial for the narcolepsy therapeutics market as it allows for better
access to diagnostics and treatment. The expansion of healthcare facilities and
services across the globe ensures that narcolepsy patients have improved access
to care and medications.
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The Global Narcolepsy Therapeutics Market is segmented
into Treatment, Product, Regional Distribution, And Company.
Based on the Treatment, Narcolepsy with Cataplexy
emerged as the dominant segment in the global market for Global Narcolepsy
Therapeutics Market in 2022. Healthcare providers often prioritize treatment
for patients with Narcolepsy with Cataplexy due to the added complexities and
safety concerns associated with cataplexy. Managing cataplexy is crucial to
ensuring the well-being of these patients, and it can be a primary focus of
therapy, thus driving the demand for narcolepsy therapeutics. Cataplexy is a
hallmark symptom of Narcolepsy with Cataplexy. It often presents a significant
challenge to patients as it can interfere with daily activities and increase
the risk of accidents. Patients with cataplexy typically seek treatment to
manage or alleviate these sudden muscle weakness episodes, which can be
embarrassing and potentially dangerous. As a result, there is a strong demand
for therapeutics that can effectively control cataplexy in this subtype. Much
of the research and drug development in the narcolepsy field has been focused
on addressing cataplexy and excessive daytime sleepiness. Several medications,
such as sodium oxybate, are approved specifically for the treatment of
cataplexy in narcolepsy patients. The emphasis on developing effective
treatments for cataplexy further contributes to the high demand for narcolepsy
therapeutics in this subtype.
Based on the Product, Central Nervous System (CNS)
Stimulants emerged as the dominant segment in the global market for Global
Narcolepsy Therapeutics Market in 2022. Several CNS stimulants have received
approval from the U.S. Food and Drug Administration (FDA) for the treatment of
narcolepsy. This regulatory approval lends credibility and trustworthiness to
these medications, making them a go-to option for both healthcare providers and
patients. CNS stimulants have been used in the treatment of narcolepsy for many
years. This long history of use has contributed to the familiarity of
healthcare providers with these medications, making them a more comfortable
choice for both prescribing and administering treatment. CNS stimulants are
applicable to various subtypes of narcolepsy, including Narcolepsy with
Cataplexy (Type 1) and Narcolepsy without Cataplexy (Type 2). This versatility
makes them a preferred choice, as they can serve a larger population of
narcolepsy patients, contributing to their high demand. CNS stimulants have
been used in the treatment of narcolepsy for many years. This long history of
use has contributed to the familiarity of healthcare providers with these
medications, making them a more comfortable choice for both prescribing and
administering treatment.
North America emerged as the dominant player in the
Global Narcolepsy Therapeutics Market
in 2022, holding the largest market share. North America,
particularly the United States and Canada, has made significant strides in
raising awareness about narcolepsy. Public education campaigns, advocacy
organizations, and healthcare initiatives have all played a role in increasing
awareness of the condition. As a result, more individuals are seeking diagnosis
and treatment, which has driven the demand for narcolepsy therapeutics. North America is
a hub for pharmaceutical research and development. Many pharmaceutical
companies in the region are actively engaged in developing innovative
narcolepsy therapeutics. The emphasis on drug discovery and clinical trials in
North America has resulted in the introduction of novel treatment options that
are driving market growth. The United States Food and Drug Administration (FDA)
and Health Canada have approved various narcolepsy medications, which has
bolstered the confidence of healthcare providers and patients in the safety and
efficacy of these treatments. These approvals have contributed to the strong
market position of North America.
Major companies operating in Global Narcolepsy
Therapeutics Market are:
- Teva Pharmaceutical Industries Ltd.
- Jazz Pharmaceuticals, Inc.
- Harmony Biosciences
- Novartis AG
- Rhodes Pharmaceuticals L.P.
- Janssen Global Services, LLC
- Eli Lilly and Company
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“The Global Narcolepsy
Therapeutics Market is poised for significant growth in the coming years. Rising
awareness about narcolepsy, both among healthcare professionals and the public,
is leading to earlier diagnosis and increased demand for effective treatments.
The development of innovative narcolepsy therapeutics, including emerging
orexin receptor agonists and advancements in drug therapies, offers promising
solutions for symptom management and enhances the market's attractiveness.
Furthermore, the increasing geriatric population, which is more susceptible to
narcolepsy, is creating a growing patient base. This demographic shift is
expected to drive the demand for narcolepsy treatments. Additionally, the
ongoing efforts to personalize treatment plans, coupled with the integration of
telehealth services, are making healthcare more accessible and tailored to
individual patient needs.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Narcolepsy Therapeutics Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By
Treatment (Narcolepsy with Cataplexy, Narcolepsy Without Cataplexy, Secondary
Narcolepsy), By Product (Central Nervous System Stimulants, Sodium Oxybate,
Selective Serotonin Reuptake Inhibitor, Tricyclic Antidepressants, Others),
Region and Competition”, has evaluated the future growth potential of Global
Narcolepsy Therapeutics 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 Global Narcolepsy
Therapeutics Market.
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