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.
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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.
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
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|forecast year||2021 – 2026|
|Market size in 2021||$3.8 billion|
|Estimated market size in 2026||US$6.5 billion|
|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|
- Tricyclic antidepressants
- Sodium Oxybate
- Selective serotonin reuptake inhibitor
Type of Narcolepsy
- Without cataplexy
- North America
- Latin America
- Middle East and Africa
- 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.
- 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
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