PUBLISHER: The Business Research Company | PRODUCT CODE: 1532024
PUBLISHER: The Business Research Company | PRODUCT CODE: 1532024
Narcolepsy is a chronic neurological condition that disrupts the brain's ability to regulate sleep-wake cycles. Individuals affected by narcolepsy commonly experience extreme daytime drowsiness and uncontrollable episodes of sleep during daytime activities. These episodes can happen at any time. Cataplexy, characterized by a sudden weakening of muscles triggered by intense emotions, often accompanies narcolepsy.
There are two primary types of narcolepsy, type 1 (NT1) and type 2. Type 1 narcolepsy is distinguished by excessive daytime sleepiness and cataplexy. Treatment typically involves medications such as antidepressants, stimulants, and sodium oxybate. Diagnosis usually involves polysomnography and multiple sleep latency tests. Narcolepsy management involves various healthcare settings, including hospitals and retail pharmacies.
The narcolepsy market research report is one of a series of new reports from The Business Research Company that provides narcolepsy market statistics, including narcolepsy industry global market size, regional shares, competitors with a narcolepsy market share, detailed narcolepsy market segments, market trends and opportunities, and any further data you may need to thrive in the narcolepsy industry. This narcolepsy market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The narcolepsy market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth observed in the historical period can be credited to heightened awareness of narcolepsy, advancements and refinement of diagnostic tools, introduction of new pharmaceutical treatments, increased investments in research and development, and enhanced initiatives for patient education.
The narcolepsy market size is expected to see rapid growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. Anticipated growth in the forecast period is driven by the escalating prevalence of sleep disorders, enhancements in healthcare infrastructure, supportive governmental policies, a growing elderly population, and increasing awareness among consumers regarding health issues. Key trends expected in the forecast period encompass progress in genetic research, technological innovations in diagnostic tools, introduction of innovative drugs and treatment approaches, strategic alliances and partnerships among major market players, and the integration of digital health tools and telemedicine.
The increasing prevalence of obesity is anticipated to drive the growth of the narcolepsy market in the future. Obesity, characterized by an excess accumulation of body fat, poses significant health risks. Sedentary lifestyles, poor dietary habits, and environmental factors promoting calorie-dense food consumption and reduced physical activity contribute to the rising number of obese individuals. This condition can disrupt metabolic and hormonal balances, potentially altering sleep patterns and wakefulness regulation, thus contributing to narcolepsy. For instance, data from March 2022 by the World Health Organization indicated that approximately 1 billion people, including 650 million adults, 340 million teenagers, and 39 million children, were classified as obese, with projections indicating a further increase by 2025, leading to approximately 167 million individuals facing health consequences due to excess weight. Consequently, the growing obesity rates are fueling the expansion of the narcolepsy market.
Key players in the narcolepsy market are intensifying their efforts in developing innovative medications, such as extended-release sodium oxybate, to meet the rising demand for effective therapies. Extended-release sodium oxybate is specifically designed for narcolepsy treatment, offering controlled and sustained release of the medication over an extended period, leading to improved symptom relief and sleep quality for narcolepsy patients. For instance, in June 2023, Avadel Pharmaceuticals plc launched LUMRYZ in the United States, an extended-release sodium oxybate formulation approved by the FDA for cataplexy and excessive daytime sleepiness in adults with narcolepsy. It represents a significant advancement over twice-nightly oxybate products, as it eliminates the need for a second dose during the night, enhancing patient convenience and compliance.
In December 2023, NLS Pharmaceutics AG acquired a dual orexin receptor agonist platform from Aexon Labs Inc., expanding its portfolio for narcolepsy and other neurodegenerative disorders. This strategic move provides NLS Pharmaceutics with the option to license Aexon Labs' assets, including highly selective orexin-1/orexin-2 receptor agonists with global rights. Aexon Labs Inc., a US-based company specializing in narcolepsy and neurodegenerative disease treatments, adds valuable resources and expertise to NLS Pharmaceutics' efforts in addressing these conditions.
Major companies operating in the narcolepsy market are Pfizer Inc., Merck & Co. Inc, Novartis AG, Takeda Pharmaceutical Company Limited, Viatris Inc, Teva Pharmaceutical Industries, Otsuka Pharmaceutical, Sumitomo Pharma Company Limited, Jazz Pharmaceuticals, Ono Pharmaceutical Co. Ltd, Lupin Pharmaceuticals, Alkermes, Harmony Biosciences, Arena Pharmaceuticals, Cerevel Therapeutics, Axsome Therapeutics Inc., Avadel Pharmaceuticals, NLS Pharmaceutics AG, KemPharm, Suven Life Sciences Ltd
North America was the largest region in the narcolepsy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the narcolepsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the narcolepsy market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The narcolepsy market consists of revenues earned by entities by providing services such as cognitive behavioral therapy, telemedicine consultations, lifestyle management programs, and patient education programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The narcolepsy market also includes sales of dietary supplements, Pitolisant, Modafinil, and Armodafinil. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Narcolepsy Drugs Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on narcolepsy drugs market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for narcolepsy drugs ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The narcolepsy drugs market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.