Narcolepsy Drug Market is valued around USD 2.65 Billionin 2019 and expected to reach USD 6.48 Billion by 2030 with the CAGR of 8.4%over the forecast period.
Narcolepsy drugs are usedfor the treatment of neurological disorder named narcolepsy and also used forthe treatment of sleep apnea. Narcolepsy is a condition which hampers thesleeping patterns and sleep quality of an individual with further advancementincludes lack of muscle strength, hallucination and others. All the symptomscan be fatal in a long term with undiagnosed nature of the disease for a longperiod of time owing to the low prevalence rate and lack of proper knowledgeabout it. Due to the undiagnosed nature of disease it is also classified intoorphan disease.
Global Narcolepsy Drug Marketreport is segmented on the basis of disease type, diagnosis, drug type and byregional. Based upon disease type, the narcolepsy drug market is fragmentedinto narcolepsy type I and narcolepsy type II. On the basis of diagnosis, themarket is categorized into Polysomnogram, and Multiple Sleep Latency Test.Based on drug type, the market is fragmented into Central Nervous SystemStimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin ReuptakeInhibitor, and Others. The regional bifurcation of countries includes NorthAmerica, Europe, Asia-Pacific, and RoW which are further segmented into majorcountries such as U.S., UK, France, and others.
The narcolepsy drugs marketis mainly driven by the changing lifestyle among young individuals withincreased consumption of alcohol, tobacco, smoking and other which disturbs thesleeping patterns. Moreover, rising stress level and amplification in publicawareness about various sleep disorders are also act as the major drivingfactors. Moreover, increase in government initiatives to create awareness aboutorphan disease as well as life threatening symptoms are also likely to promotemarket growth. However, lack of awareness, diagnosis & treatmentamong people are expected to inhibit the market growth. On the other hand,increase in research & development activities along with FDA approvals arelikely to create new avenues in the market.
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The developed regions suchas North America and Europe are expected to hold the major market share owingto the presence of major market players in the region together with increasingFDA approvals to the new & advanced drugs as well as presence of well-establishedhealthcare facilities & infrastructure. Moreover, Asia Pacific is expectedto dominate the narcolepsy drug market in terms of growth rate owing to the developinghealthcare facilities. In addition, improved public awareness about sleepdisorder along with surge in disposable income is also expected to fuel themarket growth.
The major market playersprofiled in the narcolepsy drug market includes Addrenex Pharmaceuticals, ArenaPharmaceuticals, Shire Plc, Teva Pharmaceutical Industries Ltd., Bioprojet,Ligand Pharmaceuticals, Jazz Pharmaceuticals Plc., and Graymark Healthcare, Incamong others.
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