Global narcolepsy therapeutics market valuation is expected to surpass $3263.65 million by 2025, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2025.
Narcolepsy is a sleep disorder which is characterized by extreme daytime sleepiness and unexpected attacks of sleep. In a few instances, this condition can even cause cataplexy, resulting in weakness and loss of muscle control. The usual indications of narcolepsy include daytime sleepiness, sleep paralysis, hallucinations, fragmented sleep & insomnia.
Some of the key insights highlighted in the report are:
- The growing prevalence of narcolepsy and the rising obese population are the factors primarily driving the business spectrum.
- The Asia Pacific region is expected to emerge as a strong contender over the forecast duration.
- The global market is susceptible to some hindrance over the forecast period owing to lack of awareness in middle- and lower-income economies and low per capita healthcare spending.
According to the report, increasing cases of narcolepsy and growing overweight population are key factors projected to drive the global narcolepsy therapeutics market growth. Numbers by the Sleep Science journal 2017 report suggested that around 1 in every 2,000 people globally are affected by narcolepsy disorder. Additionally, the Australian Institute of Health and Welfare states that nearly 63% of Australians over the age of 18 years were expected to be obese or overweight. Additionally, factors like increasing R&D activities and demands for effective narcolepsy treatments are also expected to drive market growth in the coming years.
With regards to the product landscape, the market is segmented into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, and selective serotonin reuptake inhibitor. As per the report, the sodium oxybate segment dominated the market in 2017. This development was observed on account of favorable repayment guidelines, the rising awareness concerning diagnosis and associated treatments of the disorder and the high cost of this drug. Based on the type, the global narcolepsy therapeutics market is bifurcated into narcolepsy without cataplexy, narcolepsy with cataplexy, and secondary narcolepsy. The narcolepsy with cataplexy segment dominated the market in 2017. The dominance was credited to the growing prevalence of cataplexy as a major sign in patients.
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In terms of region, the report divides the market into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. Europe was projected to lead the global market owing to high incidents of narcolepsy, exceptional healthcare organizations and increasing R&D efforts for the development of novel drugs. However, now the Asia Pacific market is anticipated to emerge as a global leader in the narcolepsy therapeutics market. Factors like increasing disposable income within emerging economies, investments in pharmaceutical and biotechnology sectors, economic development, favorable government initiatives, and increasing awareness regarding appropriate treatments are expected to substantially boost the Asia Pacific narcolepsy therapeutics market, cite the report.
The competitive landscape of the global narcolepsy therapeutics market comprises of major industry players like Arena Pharmaceuticals, Inc., Addrenex Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., BIOPROJET, Cephalon, Inc., Graymark Healthcare, Inc., Evotec AG, Hypnion, Inc., Ligand Pharmaceuticals, Inc. and Jazz Pharmaceuticals, Inc. among others. The key growth strategies observed in this business space include launching innovative products and teaming up with other market leaders to design new treatments and meet the rising patient needs and requirements, thereby augmenting global market growth during the predicted timeline.