Narcolepsy Drugs Market to Worth USD 6115.61 Million by 2030 | Skyquest Technology
Narcolepsy drugs market is segmented based on the narcolepsy type, therapeutics and end user. Regarding narcolepsy type, the market is segmented into cataplexy and extreme daytime sleepiness. On the basis of therapeutics, the narcolepsy drugs market is categorized into psychostimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitors, and central nervous system stimulants. The end user segment is further classified into hospitals and diagnostic centres- Industry Forecast 2023-2030
Westford, USA, July 07, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the narcolepsy drugs market is primarily driven by the ageing population worldwide, as they are more vulnerable to chronic and acute diseases requiring ongoing medical care. The increasing prevalence of chronic conditions such as diabetes, cardiovascular diseases, and cancer among the elderly contributes to the demand for healthcare data archiving solutions.
Browse in-depth TOC on the “Narcolepsy Drugs Market”
- Pages – 246
- Tables – 90
- Figures – 75
The global narcolepsy drugs market is driven by the increasing prevalence of narcolepsy and the growing population of individuals suffering from obesity. According to the Narcolepsy Network, approximately three million people worldwide are affected by narcolepsy, with a significant proportion of cases reported in the United States, where two in every 1500 people are involved. Narcolepsy is a debilitating disorder that significantly impacts a person’s quality of life.
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Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 2937.35 Million |
| 2030 Value Projection | USD 6115.61 Million |
| CAGR | 9.6% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in the Narcolepsy Drugs Market
- Jazz Pharmaceuticals
- Teva Pharmaceutical Industries
- Novartis
- Mylan N.V.
- Shire Pharmaceuticals (acquired by Takeda Pharmaceutical Company Limited)
- Ligand Pharmaceuticals
- Bioprojet SCR
- Arena Pharmaceuticals
- Avadel Pharmaceuticals
- Graymark Healthcare
- Balance Pharmaceuticals
- Theravance Biopharma
- Biocodex
- Flamel Technologies
- Otsuka Pharmaceutical
- Biogen
- Aurobindo Pharma
- Glenmark Pharmaceuticals
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Cataplexia Segment is Expected to Grow in the Market Due to Rising Research and Development Activities
The cataplexia segment is anticipated to exhibit the highest growth rate in the narcolepsy drugs market. Cataplexy is one of the most dangerous symptoms associated with narcolepsy, characterized by a sudden loss of muscle control often triggered by emotional experiences. It can range from mild muscle weakness to complete paralysis, greatly impacting affected individuals’ quality of life and safety.
The markets in North America have held a prominent position in the global narcolepsy drugs market in recent years. This can be attributed to various factors, including the significant research and development activities undertaken in the region to advance the understanding of narcolepsy and develop improved therapeutic medications.
Sodium Oxybate Segment is Expected to Dominate the Market Due to its High Effectiveness in Treating Excessive Daytime Sleepiness
The sodium oxybate segment holds the highest market share in the narcolepsy drugs market. These drugs have shown high effectiveness in treating excessive daytime sleepiness and cataplexy, two common and debilitating symptoms of narcolepsy. Sodium oxybate medications, such as Xyrem, have been widely prescribed and have demonstrated significant efficacy in managing these symptoms, leading to their dominant market position.
Regional markets in the Asia Pacific is expected to witness profitable growth in the narcolepsy drugs market during the forecast period. Several factors contribute to this positive outlook. Economic development across the region has improved living standards and increased healthcare spending. As a result, there is greater public awareness of narcolepsy and its associated symptoms, leading to a higher demand for effective treatment options.
A comprehensive analysis of the major players in the narcolepsy drugs market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in the Narcolepsy Drugs Market
- Avadel Pharmaceuticals recently received FDA approval for its new drug application (NDA) for the investigational medication FT218. The drug is specifically designed to treat excessive daytime sleepiness and cataplexy in adults with narcolepsy. This approval marks an important milestone in narcolepsy treatment, as FT218 offers a promising therapeutic option for individuals with this neurological disorder. FT218 has the potential to significantly improve the quality of life for narcoleptic patients by addressing the debilitating symptoms of narcolepsy, including excessive daytime sleepiness and muscle weakness.
- A phase 3 study conducted by a Stanford researcher in 2022 demonstrated the effectiveness of sodium oxybate extended release in helping patients with narcolepsy. The study showed that this medication successfully reduced daytime sleepiness and improved muscle weakness, both of which are common symptoms experienced by narcolepsy patients.
Key Questions Answered in Narcolepsy Drugs Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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