“Narcolepsy Market Growth Potentially Worth USD 4,537.9 Million by 2027”

According to a new market research study titled Narcolepsy Market – Global Analysis and Forecasts by Type, Product and Distribution Channel. The global narcolepsy market is expected to reach US$ 4,537.9 Mn in 2027 from US$ 2,026.8 Mn in 2018. The market is estimated to grow with a CAGR of 9.5% from 2019-2027. The report highlights the trends prevalent in the global narcolepsy market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to due to increasing healthcare expenditures, increasing prevalence of sleep related neurological disorders and emerging local pharmaceutical and biopharmaceutical companies.

This report studies the Narcolepsy Market status and outlook of Global and major regions from insights of players, countries, product types and end industries. The report provides detailed analyses of the driving forces and opportunities, major market segments, top investment industry trends, key player positioning, and competitive landscape. This report analyzes the top players in global market and splits the market by product type and applications/end user industries.

Some of the prominent players operating in narcolepsy market are Bioprojet, Teva Pharmaceutical Industries Ltd., Jazz Pharmaceuticals, Inc., Graymark Healthcare, Inc., Arena Pharmaceuticals, Inc., Shire (Acquired by Takeda), Ligand Pharmaceuticals, Inc., Novartis AG, Mylan N.V., and Shionogi Inc. The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in October, 2018, Officials with the FDA have approved Jazz Pharmaceuticals’ Xyrem (sodium oxybate) for the treatment of cataplexy and excessive daytime sleepiness in pediatric patients aged 7 to 17 years with narcolepsy. The drug had previously been approved for use in adult patients. The developments performed by the companies are helping the market to grow in the coming years.

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Sodium Oxybate segment is expected to drive the growth of the global narcolepsy market by application. The relationship between public health and neurology was not been adequately explored until recent years. The burden of neurological disorders have increased significantly across the world. These disorders are estimated to affect over a billion population worldwide, according to the World Health Organization by 2016. Neurological disorders are commonly found among all the age groups, in all geographic populations.  Similarly, sleep related neurological disorders that comprise a large group of diseases also affect a substantial population worldwide. These diseases majorly includes insomnia, sleep apnea, narcolepsy and others. However, in the recent years, several measures have been undertaken so as to generate awareness and educate the population regarding these diseases, which is likely to propagate patients from accessing the available medications and treatments for these conditions. According to National Center for Biotechnology Information 2017, clinician and public awareness of various sleep disorders with the intent of increasing rates of recognition and treatment.

In case of narcolepsy, the understanding of the neurobiology of sleep has progressed substantially over the last several decades, due largely in part to animal models that allow deeper understanding of the brain’s complexities in relationship to sleep. Several local, national and international institutes, organizations and councils are undertaking measures to promote awareness regarding the disorders and availability of treatments associated with it. For instance, “Wake Up Narcolepsy” is one of the non-profit organization that seeks to raise awareness and bring direction to the search of cure for the diseases so as to support the community. The increasing awareness in patients and initiatives undertaken by non-profit parties is expected to outreach a large patient population regarding the medications available for the disease, thereby favoring the market growth.

In 2018, the narcolepsy with cataplexy segment held a largest market share of 65.1% of the narcolepsy market, by type. This segment is also expected to dominate the market in 2027 owing to its significant prevalence among patients suffering with narcolepsy. Episodes of cataplexy are reported to be encountered among 55-60% of patients suffering with narcolepsy. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 9.7% during the forecast period, 2019 to 2027 owing to the increasing demand for drugs to treat the disease.

Global narcolepsy market, based on product was segmented into sodium oxybate, CNS stimulants and antidepressants. Sodium oxybate segment is anticipated to grow at a CAGR of 9.8% during the forecast period. Sodium oxybate is the one of the primary medication recommended by specialists to patients suffering with narcolepsy. The high cost of the branded counterparts, availability of reimbursement with certain regions as well as approval of the drug in majority of the top markets is likely to contribute to the growth and dominance of the segment. Sodium is oxybate is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.

Some of the major primary and secondary sources for narcolepsy included in the report are World Health Organization (WHO), European Medical Agency (EMA), National Health Commission (NHC), China National Drug Administration (CNDA), Food & Drug Administration (FDA), National Institute of Neurological Disorders and Strokes, International Federation of Pharmaceutical Manufacturers & Associations and others.

Global narcolepsy market, based on the product was segmented into sodium oxybate, central nervous system (CNS) stimulants, and antidepressants. Sodium oxybate segment is anticipated to grow at a CAGR of 9.8% during the forecast period. Sodium oxybate is the one of the primary medication recommended by specialists to patients suffering with narcolepsy. The high cost of the branded counterparts, availability of reimbursement with certain regions as well as approval of the drug in majority of the top markets is likely to contribute to the growth and dominance of the segment. Sodium is oxybate is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.

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Jazz Pharmaceuticals, Inc., Novartis AG and TEVA Pharmaceuticals Industries – Notable Market Participants in Narcolepsy Industry

The narcolepsy market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the narcolepsy market are present globally and have wide distribution and sales network through partnerships or authorized dealers.

The most notable market participants are Bioprojet, Teva Pharmaceutical Industries Ltd., Jazz Pharmaceuticals, Inc., Graymark Healthcare, Inc., Arena Pharmaceuticals, Inc., Shire (Acquired by Takeda), Ligand Pharmaceuticals, Inc., Novartis AG, Mylan N.V., and Shionogi Inc. occupying a considerable share of the market owing to their offerings to the market.

Market leaders are involved in extensive research for the development of new drugs and therapeutics with better efficiency and treatment outcomes. For instance, in October 2018, Jazz Pharmaceuticals announced FDA approval of Xyrem (sodium oxybate) for the treatment of cataplexy or excessive daytime sleepiness in pediatric narcolepsy patients.

Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:

The report segments the global narcolepsy market as follows:

• Global Narcolepsy Market – By Type
°    Narcolepsy with Cataplexy
°    Narcolepsy without Cataplexy
°    Secondary Cataplexy

• Global Narcolepsy Market – By Product
°    Sodium Oxybate
°    Central Nervous System (CNS) Stimulants
°    Antidepressants

• Global Narcolepsy Market – By Distribution Channel
°    Hospital Pharmacies
°    Retail Pharmacies

• Global Narcolepsy Market – By Geography

•    North America
°    U.S.
°    Canada
°    Mexico

•    Europe
°    U.K.
°    Germany
°    France
°    Italy
°    Spain

•    Asia Pacific (APAC)
°    Japan
°    China
°    India
°    Australia
°    South Korea

•    Middle East & Africa (MEA)
°    South Africa
°    UAE
°    Saudi Arabia

•    South & Central America (SCAM)
°    Brazil
°    Argentina
 

Key Benefits of Buying this Research Study:

1. Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Narcolepsy market
2. Highlights key business priorities in order to assist companies to realign their business strategies
3. The key findings and recommendations highlight crucial progressive industry trends in the Narcolepsy market, thereby allowing players across the value chain to develop effective long term strategies
4. Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
5. Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
6. Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
7. Examine the political, economic, social and technology impact of the five regions namely: North America, Europe, Asia Pacific, Middle East & Africa and South America.

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