The narcolepsy drugs market is expected to grow significantly, reaching $5,360 million by 2026, driven by increased awareness and demand for treatments.
Narcolepsy is a chronic disabling condition with symptoms such as cataplexy, excessive daytime sleepiness (EDS), sleep paralysis, hypnogogic hallucinations, and disrupted nocturnal sleep. Most of the narcolepsy drugs are used to treat symptoms related to cataplexy and excessive daytime sleepiness.
The global narcolepsy drugs market generated $2,429 million in 2018, and is projected to reach $5,360 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The electroencephalography devices segment accounted for more than one-fifth of the total market share in 2017.
Covid-19 Scenario:
1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
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The global narcolepsy drug market size has witnessed significant growth in the past few years, owing to rise in awareness regarding the benefits of early diagnosis of narcolepsy drug and availability of wide variety of narcolepsy drugs contribute toward the market growth. Governments of countries such as India and South Africa are promoting the awareness of importance of narcolepsy, which is further expected to boost the narcolepsy drug market growth during the forecast period. However, stringent government regulations toward the approval for novel narcolepsy drugs is projected to hamper the market growth during the forecast period. Conversely, untapped markets in the developing countries are expected to offer remunerative opportunities for the market players in the near future.
Based on narcolepsy disease type, the narcolepsy drugs market is segmented into daytime extreme sleepiness, cataplexia, and others. Daytime extreme sleepiness segment is the highest revenue generator in the overall narcolepsy drugs market, as large number of people suffering from narcolepsy and other sleep disorders have a higher risk of this symptom, thus increasing the demand for narcolepsy drugs. However, the cataplexia segment is expected to grow at the highest rate, as patients suffering from cataplexia experience loss of muscle control, and almost 70% of narcolepsy patients are found to have this symptom.
Based on therapeutics type, the narcolepsy drugs market is segmented into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitor, and others. The sodium oxybate segment held the highest share global narcolepsy drugs market in the 2018, as these drugs are highly effective to treat daytime extreme sleepiness and cataplexy. However, selective serotonin reuptake inhibitor segment is expected to grow at the highest rate due to increase in R&D activities for the development of these type of drugs by the key players.
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The Major Key Players Are:
Key Findings of the Narcolepsy Drugs Market:
The article discusses the growth and trends of the global narcolepsy drugs market, including key segments and projections.
Increased awareness and availability of narcolepsy treatments are key growth drivers for the market.
The Asia-Pacific region is anticipated to grow at a high CAGR during the forecast period.
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