February 28, 2022 05:28 ET | Source: Research and Markets Research and Markets
Dublin, Feb. 28, 2022 (GLOBE NEWSWIRE) — The “Global Narcolepsy Drugs Market, Size, Forecast 2022-2027, Industry Trends, Growth, Impact of COVID-19, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Narcolepsy Drugs Market will reach US$ 5.63 billion by 2027. According to Narcolepsy Statistics and Facts, in 2021, narcolepsy has affected 1 out of 2,000 Americans and 3 million people worldwide. Thus the demand for narcolepsy drugs will be driven up because of the improving diagnostics around the condition, which renders the excessively sleepy during the day.
Global Narcolepsy Drugs Industry will grow with a CAGR of 10.4% from 2021-2027
An increasing stress level among individuals leads to a stressful lifestyle, and an expansion in consumption of tobacco, alcohol, and other toxic additives raises narcolepsy risk. In current years, drug development for narcolepsy treatment has gained immense momentum. Additionally, governments in the regions such as North America, Europe, and Asia-Pacific boost narcolepsy drug products based on the health benefits, which will compel the narcolepsy drug market growth during the forecast period. An upsurge in disposable income and awareness about the benefits of narcolepsy drugs will propel market growth.
Further, the narcolepsy drug pipeline has been dotted with drugs that can target several symptoms of a neurological sleep disorder. These symptoms are indicated notably under narcolepsy type 1 and narcolepsy type 2. An array of psychostimulants has gained vogue among clinicians as third-line therapy.
Worldwide Narcolepsy Drugs Market Size was US$ 3.11 Billion in 2021
By therapeutic type, the narcolepsy drugs market is segmented into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitor, and another therapeutic type. The sodium oxybate segment towered the narcolepsy drugs market, owing to its widespread usage in treating narcolepsy symptoms. Its dual-pronged approach in treating Daytime Extreme Sleepless and cataplexy is driving this drug segment’s development.
COVID-19 Impacts on Narcolepsy Drugs Industry
The COVID-19 pandemic brought a range of sleep disorders, emphasizing the need to treat them to better daytime sleeplessness and productivity. Narcolepsy with type 1 or cataplexy narcolepsy is to maintain a market share in 2021. As the variety of two ensures a conclusive diagnosis, the segment is to lead the global narcolepsy drugs industry. The report indicates that despite receiving medicine for narcolepsy, patients can develop cataplexy at later stages. As per the National Sleep Foundation, more than 60% of narcoleptic patients suffer from type 1 narcolepsy.
North America Represents the Largest Market
Geographically, North America has conquered the narcolepsy drugs market, and it is expected to resume its stronghold in the forecast period. The growing demand for sleep disease medicine in the US and Canada, coupled with the increasing prevalence of narcoleptic diseases, raised awareness, and high healthcare spending, is anticipated to propel the market. Furthermore, favourable refund policies for therapeutic products, a vital clinical pipeline, and increasing stress levels are the other factors that promote revenue growth.
Meanwhile, Asia Pacific will demonstrate lucrative for the narcolepsy drugs market. Increasing stress levels, sleep disorders due to shift-based work timings, and a more heightened reach of medical attention have prompted an interest in Daytime Extreme Sleepless and cataplexy disease. As the younger demographic is battling sleep issues, it is anticipated to emphasize the often missed out narcolepsy in youthful patients. Populous economies such as China, India, and Japan will be prospering markets for narcolepsy.
Key companies operating in the global narcolepsy drugs market are Teva Pharmaceutical Industries, Jazz Pharmaceuticals plc, Ligand Pharmaceuticals Inc., Hikma Pharmaceuticals plc, Takeda Pharmaceutical Company Limited, Harmony Biosciences, Johnson & Johnson, and Arena Pharmaceuticals Inc.
This report provides a complete analysis of Global Narcolepsy Drugs Industry.
Therapeutic Analysis – Market has been covered from 4 viewpoints:
1. Central Nervous System Stimulants Tricyclic Antidepressants
2. Sodium Oxybat
3. Selective Serotonin Reuptake Inhibitor
4. Other Therapeutic Type
Disease – Market has been covered from 3 viewpoints:
1. Daytime Extreme Sleepless
3. Other Disease
Region – Market has been covered from 5 viewpoints:
1. North America
3. Asia Pacific
4. Latin America
5. Middle East & Africa (MEA)
1. Teva Pharmaceutical Industries
2. Jazz Pharmaceuticals plc
3. Ligand Pharmaceuticals Inc.
4. Hikma Pharmaceuticals plc
5. Takeda Pharmaceutical Company Limited
6. Harmony Biosciences
7. Johnson & Johnson
8. Arena Pharmaceuticals Inc.
All major players have been covered 3 viewpoints:
For more information about this report visit https://www.researchandmarkets.com/r/d0xgiy