by The narcolepsy market comprises drugs that help reduce the symptoms associated with narcolepsy such as excessive daytime sleepiness, sleep paralysis, and cataplexy. These drugs aim to improve the quality of life of people suffering from this chronic neurological sleep disorder. Some key product segments include sodium oxybate, central nervous system stimulants, and antidepressants. The increasing awareness about the availability of treatment options and benefits of early diagnosis are fueling the demand for narcolepsy drugs globally.
The Narcolepsy Market is estimated to be valued at US$ 3.52 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the narcolepsy market are Jazz Pharmaceuticals plc, Takeda Pharmaceutical Company, Teva Pharmaceuticals USA, Inc., Vanda Pharmaceuticals, Kyowa Kirin, Inc. Key players like Jazz Pharmaceuticals dominate the market with its sodium oxybate treatment product Xyrem.
The growing prevalence of narcolepsy worldwide coupled with rising diagnostic rates is driving the demand for narcolepsy drugs. It is estimated that 1 in every 2,000 people suffer from narcolepsy. Moreover, the availability of new treatment advances is also fueling the market growth.
Geographically, North America holds the largest share in the global narcolepsy drug market owing to extensive research and availability of reimbursement for narcolepsy treatment. However, the Asia Pacific region is expected to grow at a high CAGR during the forecast period due to the increasing awareness and demand.
Market Key Trends
One of the key trends witnessed in the global narcolepsy drugs market is the emergence of approval of new drug formulations. Drug makers are focusing on developing newer formulations and products with improved safety profiles and convenient mode of administration to increase patient compliance. For instance, in 2019, Jazz Pharmaceuticals received FDA approval for Xywav (calcium, magnesium, potassium, and sodium oxybates) oral solution to treat narcolepsy.
Porter’s Analysis
Threat of new entrants: High due to significant investments required for R&D.
Bargaining power of buyers: Moderate as buyers have options of treatment but limited substitutes.
Bargaining power of suppliers: Low as market is dominated by few players who have established distribution and production systems.
Threat of new substitutes: Low as there are limited treatment options for narcolepsy currently.
Competitive rivalry: Intense due to many competitors with wide range of treatment options trying to increase their market share.
Geographical Regions:
North America dominates the narcolepsy market currently accounting for over 40% of global market share in terms of value, due to higher disease diagnosis rates and availability of advanced treatment options. However Asia Pacific region is anticipated to exhibit fastest growth over the forecast period attributable to growing awareness, increasing healthcare expenditure and expanding pharmaceutical industry in emerging economies like China and India.
What Are The Key Data Covered In This Narcolepsy Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Narcolepsy’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Narcolepsy and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Narcolepsy Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Narcolepsy vendors
FAQ’s
Q.1 What are the main factors influencing the Narcolepsy?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Narcolepsy companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Narcolepsy’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Vaagisha Singh
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups. LinkedIn
