Narcolepsy Drugs Market to Hit Over $6.5 Billion in Revenue

London, Nov 01, 2022 (GLOBE NEWSWIRE) — The steady rise in the need for effective narcolepsy treatments is expected to primarily drive the growth of narcolepsy drugs market. Additionally, the steady rise in the awareness levels about narcolepsy diagnosis and treatment will further contribute to the growth of the narcolepsy drugs market. A new Fairfield Market Research report forecasts an excellent growth prospect for the Narcolepsy Drugs Market over the period 2021-2026. The global narcolepsy drugs market size is expected to witness a healthy expansion at around 11.2% CAGR over the forecast period. Up from revenues of US$3.8 billion achieved in 2021, the market valuation is expected to reach over US$6.5 billion by the end of 2026. The growing role of healthcare providers, governments, patient advocacy groups and public welfare groups will continue to be critical in strengthening the market for narcolepsy drugs, the report states. Rapid awareness of the symptoms and early diagnosis of narcolepsy is likely to accelerate the growth of the narcolepsy drugs market. Additionally, extensive research into narcolepsy, several other sleep disorders, and all associated environmental and genetic factors will further boost the long-term drug supply.

Get the sample copy of the report at: https://www.fairfieldmarketresearch.com/report/narcolepsy-drugs-market/request-sample

Key Research Insights

  • Global Narcolepsy Drugs Market Size to Grow at Over 11% CAGR, Showing an Expansion of Approximately 1.7x Between 2021 and 2026
  • Sodium oxybate remains dominant with nearly 52% market share
  • Narcolepsy type 1 (with cataplexy) continues to represent a market share of over 68% in 2021

Overview of segmental analysis

Selective serotonin-based sodium oxybate remains the most researched prescription drug, while Nuvigil and Provigil are set to expire on patent. The report, however, predicts that stimulants will lose market share in the near future. Xyrem which has been considered the gold standard (recommended by the American Academy of Sleep Medicine (ASSM)) is a popular FDA approved medication for the most common symptoms like cataplexy associated with excessive daytime sleepiness (EDS ). Xyrem is expected to achieve remarkable commercial success, which will be further aided by Xyrem’s favorable reimbursement coverage under Medicaid and Medicare.

Key Report Strong points

  • New Drug Approvals Provide Strong Tailwinds for Narcolepsy Drugs Market
  • The prevalence of type 2 narcolepsy is increasing rapidly despite the continued prevalence of type 1 narcolepsy
  • Due to the lack of FDA-approved drugs, pediatric narcolepsy treatment continues to be a long-term concern

Regional Analysis Overview

The regional analysis that has been presented in the Narcolepsy Drugs Market report reveals that North America and Europe will continue to lead in terms of sales. While North America is expected to enjoy the highest prevalence of Narcolepsy, the market here will continue to largely benefit from major supporting factors i.e. rising healthcare expenditures, strong presence of leading global players and a favorable refund policy structure. A robust clinical pipeline additionally keeps the narcolepsy drugs market here afloat. A sizable population continues to live with at least one sleep-related condition, which is expected to maintain the higher growth scope for the North American market. Europe will also remain a key market according to the report in light of the H1N1 flu pandemic which has caused an upsurge in the 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 Healthcare Inc., Addrenex Pharmaceuticals, BIOPROJET, Arena Pharmaceuticals, Inc., Graymark Healthcare, Inc., Shionogi Inc., Mylan NV, Ligand Pharmaceuticals, Inc., Shire

Do you have a specific question or requirement? Custom search request: https://www.fairfieldmarketresearch.com/report/narcolepsy-drugs-market/request-customization

REPORT SCOPE

Report attributes Details
base year 2020
forecast year 2021 – 2026
Market size in 2021 $3.8 billion
Estimated market size in 2026 US$6.5 billion
CAGR 11.2%
Key players Novartis AG, Teva Pharmaceutical Industries Ltd., GrayMark Healthcare Inc., Addrenex Pharmaceuticals, BIOPROJET, Arena Pharmaceuticals, Inc., Graymark Healthcare, Inc., Shionogi Inc., Mylan NV, Ligand Pharmaceuticals, Inc., Shire

Market segmentation

Therapeutic

  • Psychostimulants
  • Tricyclic antidepressants
  • Sodium Oxybate
  • Selective serotonin reuptake inhibitor
  • Others

Type of Narcolepsy

  • Cataplexy
  • Without cataplexy

Geographic coverage

  • North America
  • Europe
  • Latin America
  • Middle East and Africa

Leading companies

  • Jazz Pharmaceuticals, Inc.
  • Harmony Biosciences
  • Avadel Pharmaceuticals plc
  • Axsome Therapeutics, Inc.
  • Arena Pharmaceuticals, Inc.
  • Graymark Healthcare, Inc.
  • Teva Pharmaceutical Industries Ltd.
  • Shionogi Inc.
  • Ligand Pharmaceuticals, Inc.

Report inclusions

  • Market estimates and forecasts
  • Market dynamics
  • Industry trends
  • Competition landscape
  • Therapeutic analysis
  • Analysis by type of narcolepsy
  • Regional analysis
  • Analysis by country
  • Analysis of key trends
  • COVID-19 Impact Analysis

About Us

Fairfield Market Research is a UK based market research provider. Fairfield offers a wide range of services, from custom reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps companies navigate through economic cycles, with rapid responses and multi-pronged approaches. The company enjoys a keen eye on global issues, ably supported by a team of exceptionally experienced researchers. With a solid repository of syndicated market research reports that are published and continuously updated to ensure that ever-changing client needs are met with absolute speed.

Contact

Fairfield Market Research
London, United Kingdom
United Kingdom +44 (0)20 30025888
USA (toll-free) +1 (844) 3829746
The Web: https://www.fairfieldmarketresearch.com/
E-mail: [email protected]

Comments are closed.