Narcolepsy Drugs Market Size, Share, Competitive Landscape and Trend Analysis Report, by Disease and Therapeutic Type : Global Opportunity Analysis and Industry Forecast, 2021-2030

Narcolepsy Drugs Market Research, 2030

The global narcolepsy drugs market size was valued at $2,680.06 million in 2020, and is projected to reach $6,667.80 million by 2030, registering a CAGR of 9.6% from 2021 to 2030. Narcolepsy is a chronic sleep disorder that affects the brain’s ability to control sleep-wake cycles. It is characterized by overwhelming daytime drowsiness and sudden attacks of sleep. People with narcolepsy often find it difficult to stay awake for long periods of time and feel very sleepy throughout much of the day.

 

Many individuals with narcolepsy also experience uneven and interrupted sleep that can involve waking up frequently during the night. Narcolepsy can affect daily life activities of the sufferers. People with narcolepsy may unwillingly fall asleep in the middle of an activity like driving, eating, or talking. It is usually the first symptom to appear and is often the most troublesome, making it difficult to concentrate on certain activities. Other symptoms include sudden muscle weakness while awake that makes a person go limp or unable to move (cataplexy). Narcolepsy is a lifelong problem and cannot get cured completely but symptoms can partially improve over time with proper medications and lifestyle changes. Increasing stress among individuals consequently leads to a stressful lifestyle and increase in consumption of alcohol, tobacco, and other harmful addictive’s is expected to increase the risk of narcolepsy.

Drug development for narcolepsy treatment has gained incredible momentum the past few years. In addition, governments of countries such as India and South Africa are promoting the production of narcolepsy drug considering its health benefits, which is further expected to boost the narcolepsy drug market growth during the forecast period. Moreover, high disposable income and an increase in awareness about the benefits of narcolepsy drugs are anticipated to boost the growth of the market. However, lower stability, poor sustainability of natural colors derived from narcolepsy drug as compared to synthetic colors, and lack of awareness regarding the diagnosis and treatment availability is predicted to hinder the market growth. There is an increase in the number of programs organized by various organizations mainly to increase the awareness, which is anticipated to provide lucrative opportunities for the narcolepsy drugs market growth.

COVID-19 Impact

Coronavirus (COVID-19) was recognized in late December in Hubei province of Wuhan city in China. This highly contagious disease, caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from humans to humans. The COVID-19 pandemic has resulted in nationwide lockdowns, thereby impacting every industry vertical. According to the report of the United Nations Human Rights, the COVID-19 pandemic has threatened all the members of the society. As a result, health care systems are affected, and the effective delivery of medical care and treatment to all patients has become a challenge worldwide. The COVID-19 pandemic is an unprecedented global public health challenge, during the pandemic, global healthcare systems faced many difficult challenges due to severe shortages of hospital beds and medical equipment, patient suffering from COVID-19 having acute respiratory distress syndrome (ARDS) and these patients requires high-level respiratory support to survive.

The social isolation and interruption of daily routines resulting from COVID-19 precautions may impact individuals’ exposure to the light-dark cycle that regulates the circadian system, and thereby exacerbate existing narcolepsy symptoms. Furthermore, the altered bedtime schedules were associated with an increase in excessive daytime sleepiness, which may in turn explain the increase in the use of stimulants. The impact of COVID-19 on narcolepsy drugs was negative during pandemic. The most significant difficulty is that, the patients with narcolepsy may fail to get their prescription due to the restrictions on public transport, home quarantine, and fear of cross-infection in hospitals, resulting in drug discontinuation.

Moreover, due to lack of appropriate treatment available for COVID-19, the manufactures and industries are focusing more on the production of the drugs and equipment’s which are needed for the treatment of COVID-19. Lately, there is not sufficient personal protective equipment (PPE) for hospital workers on the front lines in this terrifying time. All around the world, hospitals are overwhelmed by the volume of patients and the lack of personal protective equipment including face masks, gloves, eye protection and clothing.

Global Narcolepsy Drugs Market Segment Overview

The Narcolepsy Drugs Market is segmented into disease type, therapeutic type, and region.

By Disease Type

By disease type, the narcolepsy drugs market is categorized into excessive day time sleepiness, cataplexy, and other disease type. The excessive day time sleepiness segment dominates the narcolepsy drugs market. Moreover, drug development for narcolepsy treatment has gained incredible momentum the past few years. Governments of countries such as India and South Africa are promoting the production of narcolepsy drug considering its health benefits, which is further expected to boost the narcolepsy drug market growth.

By Therapeutic Type

By therapeutic type, the narcolepsy drugs market is segmented into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitor, and other therapeutic type. The sodium oxybate segment dominated the narcolepsy drugs market in 2020 owing to its widespread use in the treatment of narcolepsy symptoms.

By Region

North America spearheaded the narcolepsy drugs market in 2020 and is expected to continue this dominance throughout the forecast period. This is attributed to increase in R&D activities and numerous collaborations between academic and commercial organizations in this region. Increase in acquisition, product launch, and product approval by key players of this market operate in North America turn, fuels growth of the market.

Competition Analysis

This report provides comprehensive competitive analysis and profiles of prominent market players such as 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, and Teva Pharmaceutical Industries Limited.

Key Benefits For Stakeholders

• This report provides a detailed quantitative analysis of the current narcolepsy drugs market trends and forecast estimations from 2020 to 2030, which assists to identify the prevailing narcolepsy drugs market opportunities.
• An in-depth market analysis includes analysis of various regions, which is anticipated to provide a detailed understanding of the current trends to enable stakeholders formulate region-specific plans.
• A comprehensive analysis of factors that drive and restrain the growth of the global is provided.
• The projections in this report are made by analyzing the current trends and future market potential from 2021 to 2030, in terms of value.
• An extensive analysis of various regions provides insights that are expected to allow companies to strategically plan their business moves.
• Key market players within the Narcolepsy drugs market are profiled in this report and their strategies are analyzed thoroughly, which helps in understanding competitive outlook of the Narcolepsy drugs market.

  Narcolepsy Drugs Market Report Highlights