USD 2680.06 million
Report ID: SQMIG35I2087 | Region: Global | Published Date: February, 2024 | Pages: 246 | Tables: 90 | Figures: 75
Global Narcolepsy Drugs Market size was valued at USD 2680.06 million in 2021 and is poised to grow from USD 2937.35 million in 2022 to USD 6115.61 million by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).
The market is primarily driven by the aging population, and their vulnerability to various chronic and acute diseases that require medical care.The rise in narcoleptic diseases, changing lifestyles, and the rise in stress levels, which cause narcolepsy disorder are also projected to aid in market expansion during the forecast period. Furthermore, the narcolepsy therapeutics market is projected to witness significant growth in the coming years owing to increase in research efforts, rise in healthcare expenditure,, and the presence of enhanced medical infrastructure.
The symptoms of central hypersomnia can be controlled by circadian delay, more sleep, and teleworking. Due to the low consumption of narcolepsy treatments and the public's desire for better sleep circumstances, the narcolepsy drugs market is projected to witness significant growth in the coming years.
On the other hand, high expenses and a lack of knowledge about the availability of treatment for narcolepsy may limit market expansion in the future. In addition to this, high treatment and diagnostic costs as well as an unfavourable reimbursement environment are the factors that will restrain market expansion. The narcolepsy treatment market would face challenges throughout the forecast period due to decreased operating revenue opportunities for targeted therapy research and development by various pharmaceuticals.
US Narcolepsy Drugs Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2680.06 million
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Global Narcolepsy Drugs Market is segmented based on the narcolepsy type, therapeutics, end user and region. In terms of narcolepsy type, the market is segmented into cataplexy, and daytime extreme sleepiness. With respect to segmentation by therapeutics, the Narcolepsy Drugs Market is categorized into psychostimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitors, and central nervous system stimulants. The End User segment is further classified into hospitals, and diagnostic centres. Region Wise, the Narcolepsy Drugs Market is widespread into North America, Europe, Asia-Pacific, Latin America, and MEA.
Narcolepsy Drugs Market Analysis by Therapeutics:
The market is segmented into central nervous system stimulants, sodium oxybate, tricyclic antidepressants, selective serotonin reuptake inhibitors, and others based on therapeutic kind. Due to its great efficacy in treating cataplexy and excessive daytime drowsiness, the existence of advantageous reimbursement policies, and growing public knowledge of diagnosis and related therapies, sodium oxybate is anticipated to register the highest CAGR throughout the projection period.
Narcolepsy Drugs Market Analysis by End User:
Due to the increased use of polysomnography, numerous sleep latency tests, and other diagnostic tests to diagnose narcolepsy patients, the hospitals segment held the largest share in the market. During a polysomnographic study, the patient's brain waves, blood oxygen levels, heart rate, breathing, and eye and leg movements are all recorded. If a patient has previously been diagnosed with a sleep problem, polysomnography can be utilized to help modify the treatment plan in addition to narcolepsy diagnostics. Additionally, it is typically carried out at sleep centres or hospital units that deal with sleep disorders.
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The market in North America is expected to continue dominating the market and derive benefits from factors such as higher healthcare expenditure, presence of strong global players, and favourable reimbursement policy structure. The high prevalence rate of narcolepsy in the United States and Canada are further expected to help attract significant revenues for this region. A strong clinical pipeline also helps to sustain the local narcolepsy medication industry. A sizable portion of the population still has at least one sleep-related condition, which is expected to maintain the market's potential for growth higher in North America.
Due to the expansion of healthcare infrastructure in nations such as India, the Asia Pacific region is predicted to experience moderate growth in the worldwide market in the future. A further factor that may support market expansion in the Asia Pacific region is the strengthening of healthcare reimbursement regulations in developing nations.
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Narcolepsy Drugs Market Drivers
Increasing Awareness of Narcolepsy Treatment
Rise in The Number of Narcolepsy Patient
Narcolepsy Drugs Market Restraint
Lack of Awareness
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The competitive landscape of the narcolepsy treatment market gives information by competitor. Company overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, global presence, production facilities, company strengths and weaknesses, product launch, clinical trial pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve are among the details provided. The aforementioned data points are limited to the companies' market research focus on narcolepsy treatment.
Narcolepsy Drugs Market Top Player's Company Profiles
Narcolepsy Drugs Market Recent Developments
The market growth driver for the narcolepsy market is the increasing prevalence of narcolepsy among various population segments worldwide. An increase in the number of persons experiencing various sleep disorders and hallucinations would have a positive impact on the global market for narcolepsy drugs. Additionally, the rise in obesity rates worldwide are anticipated to support future growth in the global narcolepsy market. In the coming years, it is anticipated that government initiatives and steps to raise awareness of narcolepsy would increase demand for narcolepsy products. The end-use category for hospitals is anticipated to contribute the most to the overall market because of the rise in narcolepsy patients seeking treatment at these facilities.
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According to SkyQuest, the global market for pharmaceuticals includes the market for narcolepsy medications. The degrees of growth of the narcolepsy medications market over the projected period will be determined by external factors impacting the parent market growth potential in the ensuing years, which have been extensively discussed in our research report.
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|Market size value in 2021
|USD 2680.06 million
|Market size value in 2030
|USD 2937.35 million
|Forecast Unit (Value)
|North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Narcolepsy Drugs Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Narcolepsy Drugs Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Narcolepsy Drugs Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Narcolepsy Drugs Market for additional countries.
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