Narcolepsy Drugs Market to Hit Revenue Worth over US$6.5 Bn – GlobeNewswire

| Source: Fairfield Consultancy Services OPC Pvt Ltd Fairfield Consultancy Services OPC Pvt Ltd
Pune, INDIA
London, Nov. 01, 2022 (GLOBE NEWSWIRE) — Constant rise in need for effective therapeutics for narcolepsy is primarily expected to drive the growth of narcolepsy drugs market. Moreover, the consistent rise in awareness levels about the narcolepsy diagnosis, and treatment will further contribute toward the growth of narcolepsy drugs market. A new Fairfield Market Research report projects an excellent growth prospect for narcolepsy drugs market during 2021 – 2026. Global narcolepsy drugs market size is expected to see healthy expansion at around 11.2% CAGR over the period of forecast. Up from the revenue of US$3.8 Bn attained in 2021, the market valuation is likely to reach over US$6.5 Bn by 2026 end. Growing role of healthcare providers, governments, patient advocacy groups, and public welfare association groups will continue to be pivotal in strengthening narcolepsy drugs market, says the report. Rapidly building awareness around the symptoms and early diagnosis of narcolepsy is likely to accelerate the growth of narcolepsy drugs market. Moreover, extensive research around narcolepsy, several other sleep disorders, and all the associated environmental and genetic factors will further boost drug supply in long term.
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Key Research Insights
Insights into Segmental Analysis
The selective serotonin Sodium Oxybate remains the most sought-after prescription drug, whereas Nuvigil, and Provigil are due for patent expiry. The report however anticipates the stimulants to lose their market value share in the near future. Xyrem that has been considered as the gold standard (recommended by the American Academy of Sleep Medicine (ASSM)) is a popular FDA-approved drug against the most commong symptoms like cataplexy with associated excessive daytime sleepiness (EDS). Xyrem is expected to enjoy noteworthy commercial success, which will further be favoured by the supportive reimbursement coverage for Xyrem under both the Medicaid, and Medicare.
Key Report Highlights
Insights into Regional Analysis
Regional analysis that has been presented in the narcolepsy drugs market report reveals that North America, and Europe will continue to be at the forefront in terms of sales. While North America is expected to reap the benefit from the highest narcolepsy prevalence, the market here will continue to largely benefit from the key supporting factors, i.e., greater healthcare spending, strong presence of globally leading players, and favourable reimbursement policy structure. A robust clinical pipeline further keeps the narcolepsy drugs market here, afloat. A sizeably large population continues to live with at least one sleep-related condition, which is projected to keep the scope of growth higher for North American market. Europe also will remain a key market according to the report in light of the H1N1 influenza pandemic that had caused an upsurge in prevalence of sleep disorders. On the other hand, Asia Pacific will also develop a strong potential market for narcolepsy drugs, led by India, China, and Japan.
Key Players
Novartis AG, Teva Pharmaceutical Industries Ltd., GrayMark Healtcare Inc., Addrenex Pharmaceuticals, BIOPROJET, Arena Pharmaceuticals, Inc., Graymark Healthcare, Inc., Shionogi Inc., Mylan N.V., Ligand Pharmaceuticals, Inc., Shire
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REPORT SCOPE
Market Segmentation
Therapeutics
Narcolepsy Type
Geographical Coverage
Leading Companies
Report Inclusions
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