The Market Gorwth Can be Ascribed to the Rising Number and Size of Investments in the Healthcare Sector for the Treatment of Sleep Disorders Across the Region.
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Growing Prevalence of Narcolepsy
The growing severity of the disease and the growing number of people affected by narcolepsy due to stressful lifestyles, an inherited genetic fault, hormonal changes that take place during puberty or menopause, and a sudden change in sleep patterns are the main factors driving the growth of the market during the forecast period. Moreover, narcolepsy medications can also be used to treat sleep apnea, insomnia, and restless legs syndrome, which will further drive the growth of the market. The major drivers of the narcolepsy market growth throughout the forecast period are rising narcolepsy prevalence and a growing obese population. In addition, because it has fewer adverse effects than other stimulants, the use of modafinil to treat patients is adding to its market expansion. So, proper treatment can aid in the prevention of such ailments, which is expected to drive the global narcolepsy market. It's estimated that 1 to 4% of children suffer from sleep apnea, many of them being between 2 and 8 years old.Growing Initiatives by Government Organizations
Growing awareness about narcolepsy treatment among the population is expected to create significant growth during the forecast period. Moreover, the use of modafinil to treat patients because it has fewer side effects, and it can help to prevent such disorders, thereby driving the narcolepsy market during the forecast period. Government organizations from different countries, such as India and South Africa, have taken initiatives for campaigns to educate people and health workers about the narcolepsy drug’s advantages and narcolepsy treatment in developing as well as rural areas, which is expected to boost market growth during the forecast period. According to the National Institute of Neurological Disorders and Stroke fact sheet updated in November 2021, narcolepsy affects anywhere between 135,000 and 200,000 people in the United States. The rise in donations for the development of narcolepsy treatments in the United States is further anticipated to drive the growth of the market over the years. Moreover, the rapid adoption of a new therapy for the treatment of narcolepsy drugs is anticipated to drive market growth over the forecast period. Furthermore, Project Sleep, a non-profit organization based in the United States, launched a program called "Rising Voices of Narcolepsy" to educate people about narcolepsy to share their stories through writing and verbally addressing local communities to raise awareness and reduce social stigma among others suffering from the disease.Market Segmentation
The global narcolepsy market can be segmented on the basis of type, diagnosis, treatment, end user, and by region. Based on the type, the market can be segmented into Type 1, Type 2, and Others. Based on the diagnosis, the market can be further divided into polysomnograms, multiple sleep latency tests, and others. On the basis of the treatment, the market can be further split into stimulants, antidepressants, sodium oxybate, and others. Based on end users, the market can be split into hospitals, clinics, retail pharmacies, and others. On the basis of region, North America dominated the market among Asia Pacific, Europe, Middle East & Africa, and South America. Among the different countries, the United States dominated the global narcolepsy market on account of the increasing incidence of sleep disorders in the country.Recent Development
- In December 2021, Ligand Pharmaceuticals, Inc. announced the expansion of its existing collaboration and license agreement between its subsidiary, Icagen, and GSK. This expansion will leverage Icagen’s ion-channel-based discovery technology and unique expertise in small molecule therapeutics targeting transmembrane proteins. This new agreement builds upon the initial December 2020 agreement to identify and develop inhibitors of a specific genetically-validated molecular target relevant to neurological diseases.
- In January 2020, Adare Pharmaceuticals, Inc. and NLS Pharmaceutics Ltd. collaborated to develop mazindol CR product candidates for the treatment of narcolepsy and Attention Deficit Hyperactivity Disorder (ADHD).
Market Players
Jazz Pharmaceuticals Plc., BIOPROJET., Arena Pharmaceuticals, Inc., Graymark Healthcare, Inc., Mylan N.V., Teva Pharmaceutical Industries Ltd., Novartis AG., Shire., Shionogi Inc., Ligand Pharmaceuticals, Inc are some of the leading players operating in the Global Narcolepsy Market.Report Scope:
In this report, the global narcolepsy market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:Narcolepsy Market, By Type:
- Type 1
- Type 2
- Others
Narcolepsy Market, By Diagnosis:
- Polysomnogram
- Multiple Sleep Latency Test
- Others
Narcolepsy Market, By Treatment:
- Stimulants
- Antidepressants
- Sodium Oxybate
- Others
Narcolepsy Market, By Route of End User:
- Hospitals
- Clinics
- Retail Pharmacies
- Others
Narcolepsy Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- France
- Germany
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the Global Narcolepsy Market.Available Customizations:
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Jazz Pharmaceuticals Plc.
- BIOPROJET.
- Arena Pharmaceuticals, Inc.
- Graymark Healthcare, Inc.
- Mylan N.V.
- Teva Pharmaceutical Industries Ltd.
- Novartis AG.
- Shire.
- Shionogi Inc.
- Ligand Pharmaceuticals, Inc.