Narcolepsy Drugs Market Expected to Reach $6.7 Billion by 2030

According to a new report published by Allied Market Research, titled, “Narcolepsy Drugs Market by Disease Type, and Therapeutic Type: Global Opportunity Analysis and Industry Forecast, 2021-2030,” the narcolepsy drugs market 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 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 associated with cataplexy and excessive daytime sleepiness.

The narcolepsy drugs market size has witnessed significant growth in the past few years. The growth in awareness regarding the health benefits of narcolepsy drug superfood among consumers and a wide variety of natural colors produced by narcolepsy drug contribute toward the market growth. 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 drugs market growth during the forecast period. However, lower stability and poor sustainability of natural colors derived from narcolepsy drug as compared to synthetic colors and stringent government regulations are 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.

The narcolepsy drugs market is segmented on the basis of disease type, therapeutic type, and region. By narcolepsy disease type, the market is divided into daytime extreme sleepiness, cataplexia, and other disease type. The daytime extreme sleepiness segment is the highest revenue contributor in the overall narcolepsy drugs market as large number of people suffering from narcolepsy and other sleep disorders tend to suffer from this symptom, increasing the demand for such drugs.

However, cataplexia segment is expected to grow at the highest rate as it is the most dangerous symptom where patients tend to suffer from loss of muscle control and almost 70% of narcolepsy patients are found to have this symptom.

By therapeutic type, sodium oxybate segment holds the highest market share in the narcolepsy drugs market 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 high R&D activities for the development of these type of drugs by the major key players.

Comprehensive competitive analysis and profiles of major 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 have also been provided in this report.

Key Findings Of The Study

• By disease type, the daytime extreme sleepiness segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
• By therapeutic type, the sodium oxybate segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
• By region, Asia-Pacific is expected to experience market growth at the highest rate during the forecast period.