Narcolepsy Treatment Market Poised For High Growth Due To Increasing Disease Prevalence



Narcolepsy treatment aims to manage the symptoms of excessive daytime sleepiness, cataplexy, hallucinations, and sleep paralysis associated with narcolepsy. The commonly prescribed treatment options include stimulants such as sodium oxybate, modafinil, and armodafinil which help promote wakefulness. Sodium oxybate is the gold standard for treating cataplexy associated with narcolepsy type 1. Additionally, antidepressants such as selective serotonin reuptake inhibitors (SSRI) help reduce the symptoms of cataplexy and REM sleep behavioral disorder. Growing awareness about the disease and its treatment options is boosting demand for narcolepsy drugs globally.

The global narcolepsy treatment market is estimated to be valued at US$ 3.52 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024-2031.

Key Takeaways

Key players operating in the narcolepsy market are Jazz Pharmaceuticals plc, Takeda Pharmaceutical Company, Teva Pharmaceuticals USA, Inc., Vanda Pharmaceuticals, and Kyowa Kirin, Inc.

The growing prevalence of narcolepsy, increasing awareness, and new drug approvals present lucrative growth opportunities in the market. Jazz Pharmaceuticals recently received FDA approval for Xywav, a low sodium formulation of sodium oxybate for treating narcolepsy.

Players are focusing on expanding their geographic footprint to tap the potential in emerging markets like Asia Pacific and Latin America. For instance, Takeda Pharmaceuticals recently received approval for Xyrem in China to treat narcolepsy.

Market Drivers

Growing disease prevalence- According to epidemiological studies, the prevalence of narcolepsy is estimated to range between 25-50 per 100,000 people globally. The rising burden of narcolepsy is expected to drive the demand for treatment drugs.

Pipeline strength and new product approvals- A robust pipeline with drugs having novel mechanisms of action can potentially address the unmet needs and drive market revenues. For example, Jazz Pharmaceuticals' Xywav received FDA approval in 2020.

Market Restrain

Underdiagnosis of narcolepsy- Most cases remain undiagnosed for nearly a decade delaying timely intervention. Lack of diagnosis poses a major market restraint.

Patent expiries of branded drugs- With patents of major drugs like sodium oxybate and modafinil set to expire by 2023, market revenues are likely to be impacted by generics launch. This poses a threat to leading brands.

Segment Analysis

The Narcolepsy Market is segmented based on drug type and disease type. Based on drug type, the narcolepsy market is segmented into sodium oxybate, stimulants such as amphetamine, modafinil/armodafinil, and antidepressants. Sodium oxybate segment currently dominates the global market, accounting for over 50% market share. This is because sodium oxybate is considered as the gold standard treatment for cataplexy and excessive daytime sleepiness associated with narcolepsy. Based on disease type, the narcolepsy market is divided into narcolepsy with cataplexy, narcolepsy without cataplexy, and secondary narcolepsy. The narcolepsy with cataplexy segment presently dominates due to high prevalence of narcolepsy with cataplexy disease type.

Global Analysis

In terms of regional analysis, North America is projected to account for the major market share over the forecast period. Presence of well-developed healthcare infrastructure along with higher adoption of advanced treatments for narcolepsy drive the North America narcolepsy market. Asia Pacific is anticipated to witness the highest growth during the forecast period owing to increasing awareness of narcolepsy and availability of generic drugs in countries such as India and China. Moreover, growing healthcare expenditure in countries like India, China, and Japan are further supporting the Asia Pacific market growth. Key players operating in the Narcolepsy Market include Jazz Pharmaceuticals plc, Takeda Pharmaceutical Company, Teva Pharmaceuticals USA, Inc., Vanda Pharmaceuticals, Kyowa Kirin, Inc.

Get more insights on this topic:  https://www.ukwebwire.com/narcolepsy-market-is-estimated-to-witness-high-growth-owing-to-increased-disease-awareness/

 

Author Bio

Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. (LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)

What Are The Key Data Covered In This Narcolepsy Market Report?

:- Market CAGR throughout the predicted period

:- Comprehensive information on the aspects that will drive the Narcolepsy's growth between 2024 and 2031.

:- Accurate calculation of the size of the Narcolepsy and its contribution to the market, with emphasis on the parent market

:- Realistic forecasts of future trends and changes in consumer behaviour

:- Narcolepsy Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa

:- A complete examination of the market's competitive landscape, as well as extensive information on vendors

:- Detailed examination of the factors that will impede the expansion of Narcolepsy vendors

FAQ’s

Q.1 What are the main factors influencing the Narcolepsy?

Q.2 Which companies are the major sources in this industry?

Q.3 What are the market’s opportunities, risks, and general structure?

Q.4 Which of the top Narcolepsy companies compare in terms of sales, revenue, and prices?

Q.5 Which businesses serve as the Narcolepsy’s distributors, traders, and dealers?

Q.6 How are market types and applications and deals, revenue, and value explored?

Q.7 What does a business area’s assessment of agreements, income, and value implicate?

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

Comments

Post a Comment

Popular posts from this blog

Space Economy : Global Space Economy Enters New Phase of Growth and Innovation

Image
The Growing Global Space Economy As these new commercial applications and models emerge in fields like earth observation, communications, infrastructure development and utilization of space resources, the global space economy is expanding rapidly. Reports from leading analyst firms project significant growth rates over the coming decade, with an estimated total global space economy size exceeding a trillion dollars by 2040. Private capital investment in space has also grown 10-fold over the past decade to well over $5 billion in 2021 alone. As more commercial activity accelerates in low-Earth orbit and beyond, global cooperation will play a vital role in management of issues like orbital traffic, spectrum allocation and safety standards. International organizations like the United Nations are developing cooperation frameworks to ensure the responsible governance of these emerging space industries and exploration activities. Overall, the expanding range of commercial uses of space ...
Read more

Luxury Vegan Handbags: The Surge In Popularity Of High-End Vegan Handbags A New Trend In Sustainable Fashion

Image
  As consumer consciousness around sustainability and animal welfare grows, more luxury brands are introducing   vegan handbag   lines that are just as stylish and durable as traditional leather bags but without the environmental or ethical downsides. By using innovative materials derived from plants, these eco-friendly luxury bags allow fashionistas to feel good about what they carry. Pioneering brands like Matt & Nat, Will’s Vegan Store, and Veja are leading the way in offering luxury vegan styles that can rival even the most prestigious designer labels. Materials Of The Future Manufacturers are developing premium vegan materials that are indistinguishable from leather both in look and feel. Pineapple leather and mushroom leather, for example, are made from the waste fiber of pineapples and mycelium cells from mushrooms, respectively. These innovative materials have a luxurious texture, last for years, and biodegrade completely without harming the environment. Addit...
Read more

New Zealand Coconut Milk And Cream Gaining Global Recognition

Image
  As consumers become increasingly aware of potential health benefits and seek out plant-based alternatives to dairy, coconut milk and cream products from New Zealand have seen tremendous growth in popularity both domestically and overseas in recent years. New Zealand Coconut Milk and Cream has emerged as a major economic success story, with exports increasing over 300% in the past decade alone. Several factors have contributed to this surge in demand. Coconut milk and cream are praised for their high nutritional value as a plant milk alternative. They are naturally cholesterol-free, lower in calories than dairy milk, and contain important vitamins, minerals and healthy fats. Coconuts grow abundantly in tropical regions, and New Zealand's warm climate makes it ideal for coconut cultivation and processing. With its clean, green reputation, New Zealand Coconut Milk and Cream is seen as a trusted source for high quality coconut products. Rising Exports And An Expanding Domestic N...
Read more