Narcolepsy Drug Market is expected to demonstrate a CAGR of 7.9% by 2030

The Global Narcolepsy Drug Market size is estimated to be USD 2.62 Billion in 2019 and is predicted to reach USD 6.04 Billion by 2030 with a CAGR of 7.9% from 2020-2030. Narcolepsy is a neurological disorder which affects the normal sleep pattern of an individual and also affects the quality of sleep. The narcolepsy patient sleeps for an average time as normal person but quality of sleep is highly affected. The patient can feel sleepy at any time in the entire day, the patient may hallucinate and in some cases loss of muscle strength also known as cataplexy is observed coupled with change in emotional state.

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Market Dynamics and Trends

Narcolepsy is a chronic under diagnosed medical condition also known as orphan disease and increase in awareness among people about sleep disorders. Furthermore, unhealthy lifestyle, favorable reimbursement policies and high stress level is further augmenting the prevalence of such disorders on a large scale.

The other factors anticipating the growth of narcolepsy drug market include increased consumption of alcohol and tobacco, government and non government bodies are constantly working to create awareness among people. Moreover, increase in healthcare infrastructure and increase in disposable income are expected to fuel the growth of narcolepsy drug market. However, lack of awareness about narcolepsy is expected to the inhibiting factor for the narcolepsy drug market. Increase in research and development activities and FDA approvals to the new treatment options are expected to create ample opportunities for the narcolepsy drug market in the near future.

Market Segmentations and Scope of the Study:

The global narcolepsy drug market share is analyzed on the basis of disease type, diagnosis, drug type, and geography. On the basis of disease type, the market is segmented into narcolepsy type I and narcolepsy type II. On the basis of diagnosis, the market is divided into Polysomnogram, and Multiple Sleep Latency Test. Based on drug type, the market is fragmented into Central Nervous System Stimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin Reuptake Inhibitor, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America represents the high prevalence rate of sleep disorders due to the unhealthy lifestyle and increased consumption of alcohol and tobacco. Furthermore, the increase in research and development activities with the constant increase in FDA approval of drugs coupled with developed healthcare infrastructure and favorable reimbursement policies.

It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to fast developing healthcare facilities in the region and increasing awareness about sleep disorders coupled with government initiatives to increase awareness are further expected to augment the growth of narcolepsy drug market over the forecast period.

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The narcolepsy drug market, is consolidated as it has only few major players as this disease is an orphan disease and people are also not well-aware with this disease. They key players in narcolepsy market include Addrenex Pharmaceuticals, Arena Pharmaceuticals, Shire Plc, Teva Pharmaceutical Industries Ltd., Bioprojet, Ligand Pharmaceuticals, Jazz Pharmaceuticals Plc., and Graymark Healthcare, Inc. among others.

There are various development taken place over the period of time in narcolepsy drug market. For instance, in October 2018, US FDA has approved Xyrem (sodium oxybate) manufactured by Jazz Pharmaceuticals Plc for the treatment of cataplexy and excessive daytime sleepiness (EDS) in pediatric patients with narcolepsy. In early 2018, Harmony, has announced that the US Food and Drug Administration (FDA) has accepted for filing the New Drug Application (NDA) for its investigational product, pitolisant, and has granted Priority Review for this NDA.