The narcolepsy therapeutics market is anticipated to witness a CAGR of nearly 10.1% during the forecast period. The increasing prevalence of narcoleptic disorders across the world, rising stress levels, growing geriatric population, and increasing awareness about various treatment options for this condition are some of the factors expected to propel the market. As per the Narcolepsy Network, around 1 in every 2,000 people in the United States are affected by this condition.
The increase in awareness about the target disease among the general population and governments is expected to propel the narcolepsy therapeutics market. The rising number of people suffering from a host of narcoleptic disorders, including hallucinations, sleep paralysis, disrupted nocturnal sleep, and obesity, has caught the attention of governments around the world, forcing them to take necessary steps to address this condition. For instance, awareness campaigns are conducted by various networks, such as the National Center on Sleep Disorders Research, to address the needs of individuals with serious or mild narcoleptic conditions.
The approval and commercialization of new drugs by market players may also play a crucial role in driving the market growth over the coming years. For instance, in March 2019, Jazz Pharmaceuticals received the US FDA approval for Sunosi (solriamfetol), for the treatment of narcoleptic patients. However, delayed diagnosis or misdiagnosis may hamper the demand in the narcolepsy therapeutics market.
Key Market Trends
Narcolepsy with Cataplexy Dominates the Market
- Narcolepsy with cataplexy is expected to dominate the global narcolepsy therapeutics market through the forecast period. This can be attributed to the rising prevalence of narcolepsy with cataplexy, which causes severe, irresistible daytime sleepiness and a sudden loss of muscle tone. As per the study of the National Sleep Foundation, almost 60-70% of narcoleptic patients suffer from narcolepsy with cataplexy.
- The increasing awareness about the disease and the available treatment options leading to early diagnosis, as well as increasing healthcare expenditure, are the factors anticipated to drive this segment’s growth over the forecast period.
North America Represents the Largest Market and Asia-Pacific is Expected to Register the Fastest Growth
Currently, North America dominates the market studied, and it is expected to continue its stronghold for a few more years. The growing demand for sleep disorder treatment in the US and Canada, coupled with the increasing prevalence of narcoleptic disorders, increase in awareness, and high healthcare spending, is anticipated to drive the market. In addition, favorable reimbursement policies for therapeutic products, strong clinical pipeline, and rising stress levels are the other factors anticipated to promote revenue growth.
Asia-Pacific is anticipated to witness lucrative growth over the forecast period. Shift-work sleep disorder and increased stress levels are expected to expand the patient base in Asia-Pacific. These factors may contribute to the growing demand for drugs in these economies. Constantly improving healthcare reimbursement policies are expected to boost demand over the forecast period. In addition, increasing living standards have spurred regional demand. All these factors are anticipated to bode well for the regional market's growth in the forthcoming years.
The major players include companies, such as Arena Pharmaceuticals Inc., BIOPROJET, Jazz Pharmaceuticals PLC, Ligand Pharmaceuticals Incorporated, Novartis, Shionogi Inc., Takeda Pharmaceutical Company Limited, and Teva Pharmaceuticals USA Inc.
Collaborations and acquisitions to share technology and costs for innovation in the field are expected to be observed. For instance, Takeda completed the acquisition of Shire in January 2019, overtaking the PROVIGIL product, which is a popular selling narcolepsy drug.
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
This product will be delivered within 2 business days.
1.2 Scope of the Study
4.2 Market Drivers
4.2.1 Increasing Global Prevalence of Narcolepsy
4.2.2 Narcolepsy Awareness Programs and Services
4.2.3 Presence of Reimbursement Policies Regarding Narcolepsy
4.3 Market Restraints
4.3.1 Adverse Effects and Risks Related to Narcolepsy Drugs
4.3.2 Delayed Diagnosis or Misdiagnosis
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Narcolepsy with Cataplexy
5.1.2 Narcolepsy without Cataplexy
5.1.3 Secondary Narcolepsy
5.2.1 Central Nervous System Stimulants
5.2.2 Sodium Oxybate
5.2.3 Selective Serotonin Reuptake Inhibitors
5.2.4 Tricyclic Antidepressants
5.2.5 Other Products
5.3.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle-East and Africa
5.3.5 South America
220.127.116.11 Rest of South America
6.1.1 Arena Pharmaceuticals Inc.
6.1.3 Jazz Pharmaceuticals PLC
6.1.4 Ligand Pharmaceuticals Incorporated
6.1.5 Novartis AG
6.1.6 Shionogi Inc.
6.1.7 Takeda Pharmaceutical Company
6.1.8 Teva Pharmaceuticals Industries Ltd
A selection of companies mentioned in this report includes:
- Arena Pharmaceuticals Inc.
- Jazz Pharmaceuticals PLC
- Ligand Pharmaceuticals Incorporated
- Novartis AG
- Shionogi Inc.
- Takeda Pharmaceutical Company
- Teva Pharmaceuticals Industries Ltd