Narcolepsy Market to be dominated by Type 2 Narcolepsy through 2028
The
increasing prevalence of narcolepsy is expected to drive the growth of Global Narcolepsy
Market during the forecast period, 2024-2028.
According to TechSci Research report, “Narcolepsy Market - Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028”, the Global Narcolepsy
Market is anticipated to grow at an impressive rate during the forecast period,
2024-2028. This can be ascribed to the increasing obese population and
the growing prevalence of narcolepsy among young populations across the globe. Moreover,
increasing disposable incomes and greater government spending on healthcare
systems in the developing region, especially in North America and Europe are
expected to create lucrative opportunities for narcolepsy market growth in the coming
years. Furthermore, the growing development of new narcolepsy drugs for easy
diagnosis and treatment of sleep disorders and previous brain disorders from
the family is expected to drive the market growth during the forecast period.
Similarly, increasing adoption of newly developed narcolepsy treatments among
the population and research and development that improved the quality of drugs
will help in treatment and is expected to drive the market growth during the
forecast period. Moreover, collaboration with fewer known players could help
prominent players which in expanding their market presence and increasing their
revenue during the forecast period.
However, side
effects associated with narcolepsy drugs and issues concerning around
misdiagnosis slow down the growth of the global narcolepsy market during the forecast
period. Moreover, lack of awareness about new narcolepsy drugs for the
treatment of sleep disorders in emerging countries can further restrict the
growth of the global narcolepsy market. Similarly, the high cost and diagnosis
and treatment for narcolepsy can further restrict the growth of the market
during the forecast period.
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The global narcolepsy market
can be segmented on the basis of type, diagnosis, treatment, end user, and
region.
Based on type, the global narcolepsy market can
be segmented into Type 1, Type 2, and Others. The Type 2 segment dominated the market in
2022 and is expected to continue to maintain its dominance throughout the
forecast period. This can be ascribed to the increasing awareness about using
type 2 narcolepsy due to the increasing
incidence of sleep disorders such as hallucinations where sodium oxybate helps
to improve nighttime sleep. Similarly, increasing stress among individuals
consequently leads to a stressful lifestyle, and a rise in consumption of
alcohol, tobacco, and other harmful addictives is expected to create
significant growth opportunities for the narcolepsy market during the forecast
period.
Based on end users, the market can be segmented
into hospitals, clinics, retail pharmacies, and others. The hospitals segment is expected to dominate
during the forecast period on account of the increase in narcolepsy to diagnose
patients using polysomnography along with multiple sleep latency tests and
other diagnostic tests. Similarly, different local, national and international
institutions and organizations have taken an initiative to provide relevant information
regarding available narcolepsy treatment options which will further boost the
market growth during the forecast period.
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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