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  • Narcolepsy Drugs Market Growth Analysis | 2022-2028

    Narcolepsy Drugs Market Growth Analysis | 2022-2028

    Narcolepsy Drugs Market Growth Analysis | 2022-2028
    Report code - SR2288 Delivery - 2 Weeks
    Narcolepsy Drugs Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth Opp See more...

    Market Insights

    The Narcolepsy Drugs Market was estimated at US$ 2.93 billion in 2021 and is expected to grow at a CAGR of 9.3% during 2022-2028 to reach US$ ~4.39 billion in 2028.

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    What is narcolepsy?

    Narcolepsy is a lifelong sleep condition characterized by the occurrence of abrupt uncontrollable sleep attacks, and it hurts many aspects of a patient's life. Sleep is a biological requirement that affects memory, cognitive capacities, and metabolic balance. Poor sleeping patterns have an impact on people's overall health, which can lead to chronic diseases such as diabetes, rheumatoid arthritis, high blood pressure, and stroke. They are aided by pharmaceuticals and medical technology used to treat and diagnose sleep disorders such as insomnia, narcolepsy, sleep apnea, and others. The increased awareness of this ailment and its negative consequences among the world's population is expected to propel market growth.

    According to the Narcolepsy Network, approximately one in every 2,000 people in the United States suffers from this disorder. In North America, the prevalence is roughly 0.07%. The rate of narcoleptic patients without cataplexy is 1.37 per 100,000 persons and 0.74 per 100 people with cataplexy. According to data given by Narcolepsy UK, at least 25,000 people in the UK suffer from this disorder, with around 75% of them going untreated because they are undiagnosed or misdiagnosed. The rise in cases is undoubtedly concerning. According to the Narcolepsy Network, only 25% of those suffering from the disorder get diagnosed globally. Due to a lack of understanding among patients and healthcare providers, this disease is quite difficult to identify. The advantageous reimbursement policies linked with the pharmaceuticals are driving the growth of this vertical even further.

    Market Dynamics

    The rise in patients with sleep disorders caused by an aging and obese population is fueling the market's expansion. The relevance of using sleeping aids and rising non-refundable income are driving the market growth for sleeping aids. The global population's increasing efforts to combat this condition are predicted to increase the demand for sleeping medicines. The increased usage of medicine by persons suffering from sleep disorder breathing is expected to benefit the global market for sleeping aids. Because of the numerous negative disease-related symptoms, this patient is at a high risk of infection.

    Narcolepsy Drugs Market Report Overview

    Market Size in 2028

    US$ ~4.39 billion

    Market Size in 2021

    US$ 2.93 billion

    Market Growth (2022-2028)

    9.3% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

     

    Many organizations worldwide are actively committed to raising awareness and teaching individuals and healthcare professionals about the disorder and its related symptoms, such as cataplexy, sleep paralysis, and EDS. Narcolepsy Network, Inc., European Narcolepsy Network, American Sleep Association, and Wake Up Narcolepsy are some of the active groups.

    Segments Analysis

    Segmentations

    List of Sub-Segments

    Dominant and Fastest-Growing Segments

    Product-Type Analysis

    Central Nervous System Stimulants, Sodium Oxybate, Tricyclic Antidepressants, Others

    Sodium Oxybate dominated the overall market in 2021.

    Type Analysis

    Cataplexy, Without Cataplexy, and Secondary

    The cataplexy segment was selected as the greatest revenue segment in 2021.

    Regional Analysis

    North America, Europe, Asia-Pacific, and Rest of the World

    Europe will continue to lead the global market for narcolepsy drugs in 2021.

     

    By Product Type

    The market is further segmented into central nervous system stimulants, sodium oxybate, tricyclic antidepressants, and others. The market includes a variety of pharmacological types used to treat disease and its effects. In 2021, sodium oxybate dominated the overall market. Furthermore, due to the high cost of this drug, the presence of advantageous reimbursement policies, and increased awareness levels about diagnosis and associated therapies, it is predicted to be the fastest-expanding category during the projection period. Xyrem is an FDA-approved medicine in this category that is specifically advised for the treatment of cataplexy and accompanying EDS, resulting in a high prescription rate. Xyrem has been recognized as a routine treatment option for EDS and cataplexy associated with narcolepsy by the American Academy of Sleep Medicine (ASSM).

    Xyrem is reimbursed by the majority of insurance carriers, including Medicare and Medicaid. Manufacturers also provide financial aid to people who do not have insurance and cannot afford the drug. CNS stimulants, on the other hand, are expected to lose revenue share due to the patent expiration of major medications such as Provigil and Nuvigil.

    EDS is frequently the first clinically noticeable sign. Sleep deprivation is the most prevalent cause of EDS in the United States, according to the National Institute of Neurological Disorders and Stroke. Aside from EDS, other symptoms of this illness include hallucinations, sleep paralysis, interrupted nocturnal sleep, and obesity. Increased knowledge of the disease and accessible treatment choices, which leads to earlier diagnosis, as well as rising healthcare expenditure, are expected to fuel this segment's growth throughout the forecast period.

    By Type

    The market is further segmented into cataplexy, without cataplexy, and secondary. Due to the increasing prevalence of cataplexy as a key symptom in patients, the narcolepsy with cataplexy segment was selected as the greatest revenue segment in 2021. It is projected to hold its position for the duration of the projection period. Furthermore, in some situations, cataplexy is the confirmatory symptom for a convincing diagnosis of narcolepsy. Although it is rarely the first symptom of narcolepsy, it affects about 75% of narcoleptic patients.

    The fastest-growing sector is projected to be narcolepsy without cataplexy. The primary driver of this segment's growth is an increase in public knowledge as a result of awareness initiatives performed by various networks such as the U.S. Narcolepsy Network and the Europe Narcolepsy Network.

    Regional Analysis

    The narcolepsy drugs market is broken down geographically into areas like North America, Europe, Asia-Pacific, and the Rest of the World (RoW).  In terms of revenue, Europe will continue to lead the global market in 2021. The elements that can be attributed to its highest proportion are a huge affected population, well-established healthcare infrastructure, and expanding R&D initiatives for the development of novel medications. 

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    Key Players

    The following are the major players in the narcolepsy drugs market:

    • Arena Pharmaceuticals, Inc.
    • Bioprojet Company
    • Graymark Healthcare, Inc.
    • Hikma Pharmaceuticals PLC
    • Jazz Pharmaceuticals plc
    • Ligand Pharmaceuticals Incorporated
    • Shionogi Inc.
    • Takeda Pharmaceutical Company Limited
    • Novartis International AG
    • Teva Pharmaceutical Industries Limited

    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.  We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Narcolepsy Drugs Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Recent Developments

    Teva Pharmaceutical Industries Ltd., Jazz Pharmaceuticals PLC, Addrenex Pharmaceuticals, Inc., Graymark Healthcare, Inc., and BIOPROJET are some of the prominent market players that control the global market. As part of their strategic expansions, these corporations are collaborating with other players. Furthermore, market participants are focusing on new product development and launches to acquire a significant revenue share in the next years. To enhance market penetration, many businesses are assisting their clients through various techniques such as out-of-pocket co-pays and complimentary items for qualifying patients. Jazz Pharmaceuticals, for example, has launched Patient Assistance Programs for patients who cannot afford insurance coverage for medicines.

    Below are a few recent key developments:

    • Axsome Therapeutics bought Sunosi from Jazz Pharmaceuticals in March 2022, expanding Axsome's leadership in neurology. This acquisition has hastened Axsome's transition into a global commercial concern.
    • Horizon Therapeutics plc acquired Viela Bio, Inc. in May 2021. This acquisition is a big step forward in building an advanced strategy to drive regional market growth.
    • Jazz Pharmaceuticals announced the completion of its acquisition of GW Pharmaceuticals plc in May 2021. Because of the integration, these purchases increased product diversification.

    Frequently Asked Questions (FAQs)

    The narcolepsy drugs market is expected to grow at a CAGR of 9.3% during 2022-2028.

    The narcolepsy drugs market is likely to reach US$ ~4.39 billion in 2028.

    The rise in patients with sleep disorders caused by an aging and obese population is fueling the market's expansion. The relevance of using sleeping aids and rising non-refundable income are driving the market growth for sleeping aids.

    In terms of revenue, Europe will continue to lead the global market in 2021. The elements that can be attributed to its highest proportion are a huge affected population, well-established healthcare infrastructure, and expanding R&D initiatives for the development of novel medications.

    The major players in the narcolepsy drugs market are Arena Pharmaceuticals, Inc., Bioprojet Company, Graymark Healthcare, Inc., Hikma Pharmaceuticals PLC, Jazz Pharmaceuticals plc, Ligand Pharmaceuticals Incorporated, Shionogi Inc., Takeda Pharmaceutical Company Limited, Novartis International AG, Teva Pharmaceutical Industries Limited.

    The market is studied from 2016 - 2028.