Global Narcolepsy Drugs Market

Narcolepsy Drugs Market Size, Share, Growth Analysis, By Disease Type(Daytime Extreme Sleepiness, Cataplexia, and Other Disease Type), By Therapeutics Type(Central Nervous System Stimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin Reuptake Inhibitor), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35I2087 | Region: Global | Published Date: October, 2024
Pages: 219 | Tables: 90 | Figures: 75

Narcolepsy Drugs Market Dynamics

Narcolepsy Drugs Market Drivers

Growing Mental Health Awareness 

  • Mental health awareness has increased rapidly in recent years as the incidence of stress, anxiety, and other mental health disorders such as narcolepsy has also risen. Launch of new efforts and initiatives to solve these mental health issues and help patients affected from the same are expected to bolster the global narcolepsy drugs market outlook in the future.   

Emphasis on Lifestyle Improvement 

  • People affected by narcolepsy have significantly reduced quality of life as they experience extreme daytime sleepiness and sudden muscle weaknesses. Efforts to promote healthy lifestyles and reduce the sedentary nature of people’s life are expected to promote the sales of narcolepsy drugs over the coming years.  

Narcolepsy Drugs Market Restraints 

Limited Awareness in Developing Regions 

  • Awareness regarding symptoms and effects of narcolepsy is quite limited in most parts of the world, especially in developing and underdeveloped regions.  This lack of awareness causes most narcoleptic patients going undetected and void of treatment thereby hurting the demand for narcolepsy drugs as well. Awareness programs and campaigns can easily help in overcoming this restraint.  

Side Effects of Narcolepsy Treatment 

  • Extensive use of narcolepsy drugs has been linked to cardiovascular issues, nervous system disturbances, and also the risk of dependence leading to substance abuse as well. Increasing awareness regarding these ill effects associated with the use of narcolepsy drugs is projected to slow down the overall narcolepsy drugs market forecast in the long run.
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FAQs

Global Narcolepsy Drugs Market size was valued at around USD 3.4 billion in 2022 and is expected to rise from USD 3.7 billion in 2023 to reach a value of USD 7 billion by 2031, at a CAGR of 9.5% over the forecast period (2024–2031).

Narcolepsy drug providers are projected to focus on reducing their time-to-market by fast-tracking their approval process. Investing in R&D of novel narcolepsy drugs is also expected to be a key strategy for all narcolepsy drug companies in the future. Raising awareness regarding narcolepsy is expected to be crucial for narcolepsy drug providers looking to expand their business scope on a global level.  'Jazz Pharmaceuticals plc ', 'Teva Pharmaceutical Industries Ltd. ', 'Bioprojet Pharma SARL ', 'Novartis International AG ', 'Takeda Pharmaceutical Company ', 'Avadel Pharmaceuticals ', 'Mylan N.V. (now part of Viatris) ', 'Aurobindo Pharma ', 'Glenmark Pharmaceuticals ', 'Lupin Pharmaceuticals ', 'Otsuka Pharmaceutical ', 'Biogen ', 'Theravance Biopharma ', 'Ligand Pharmaceuticals ', 'Flamel Technologies (now Avadel Pharmaceuticals) ', 'Biocodex ', 'Sun Pharmaceutical Industries ', 'Cipla Limited ', 'Dr. Reddy’s Laboratories ', 'Pfizer Inc. '

Mental health awareness has increased rapidly in recent years as the incidence of stress, anxiety, and other mental health disorders such as narcolepsy has also risen. Launch of new efforts and initiatives to solve these mental health issues and help patients affected from the same are expected to bolster the global narcolepsy drugs market outlook in the future.   

Orexin-based Therapies: Narcolepsy drug providers are projected to focus on the development of orexin-based therapies and treatments going forward. Orexin receptor agonists have shown promise in treating narcolepsy by targeting the underlying causes with fewer side effects as compared to traditional narcolepsy drugs available in the market. Investing in the R&D of orexin-based therapies is slated to be a top narcolepsy drugs market trend for the future.  

North America is estimated to emerge as the leader in terms of narcolepsy drug demand owing to high awareness regarding mental health and growing prevalence of narcolepsy. Growing investments in the research and development of novel narcolepsy drugs and surging incidence of sleep disorders are also aiding the dominance of North America. The United States and Canada are estimated to be the top markets for narcolepsy drug providers operating in this region. High availability of favorable reimbursement policies for narcolepsy treatment in North America is also anticipated to bolster the sales of narcolepsy drugs going forward.  

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Global Narcolepsy Drugs Market

Report ID: SQMIG35I2087

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