What is the global market size of Narcolepsy Drugs Market?

Global Narcolepsy Drugs Market size was valued at USD 2680.06 million in 2021 and is poised to grow from USD 2937.35 million in 2022 to USD 6115.61 million by 2030, growing at a CAGR of 9.6% in the forecast period (2023-2030).

What is the key market trend for Global Narcolepsy Drugs Market?

The market growth driver for the narcolepsy market is the increasing prevalence of narcolepsy among various population segments worldwide. An increase in the number of persons experiencing various sleep disorders and hallucinations would have a positive impact on the global market for narcolepsy drugs. Additionally, the rise in obesity rates worldwide are anticipated to support future growth in the global narcolepsy market. In the coming years, it is anticipated that government initiatives and steps to raise awareness of narcolepsy would increase demand for narcolepsy products. The end-use category for hospitals is anticipated to contribute the most to the overall market because of the rise in narcolepsy patients seeking treatment at these facilities.

Narcolepsy Drugs Market Size, Share, Growth Analysis, By Narcolepsy Type(Cataplexy, and Daytime Extreme Sleepiness.), By Therapeutics(Psychostimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin Reuptake Inhibitors), By End User(Hospitals, and Diagnostic Centres. ), By Region - Industry Forecast 2024-2031

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

Narcolepsy Drugs Market News

In March 2024, Avadel Pharmaceuticals announced in its fourth-quarter and full-year 2023 update that Lumryz, its novel narcolepsy medication designed for once-at-bedtime use, has been initiated by more than 1,200 patients since its launch in June. The company also disclosed that its RYZUP patient support services have garnered over 2,200 enrollments, with the majority being patients who transitioned from first-generation oxybates. Additionally, the enrollment includes patients who previously experimented with and ceased first-generation oxybate treatment, as well as newcomers to oxybate therapy.
In January 2024, UCB (Euronext Brussels: UCB) and Jazz Pharmaceuticals, Inc. announced the signing of an expanded product license agreement for Xyrem® (sodium oxybate). As part of the agreement, UCB gains the right to commercialize Xyrem® for the treatment of fibromyalgia syndrome, pending approval for this indication. Jazz Pharmaceuticals initiated its Phase III clinical development program for the use of Xyrem® in treating fibromyalgia syndrome on September 7th, 2006.
In October 2023, two companies, EnsoData and React Health, teamed up to help people with sleep apnea stick to their treatment plans. EnsoData uses artificial intelligence to predict if patients will follow their treatment. React Health makes devices for sleep problems. They're joining forces to put EnsoData's prediction AI into React Health's platform called React Health Connect. This partnership will give doctors and equipment suppliers better information to help patients who are having trouble sticking to their treatment plans.

Narcolepsy Drugs Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Narcolepsy Drugs Market is expected to rise from USD 3.21 billion in 2022 and rise from USD 3.52 billion in 2023 to reach USD 7.32 billion by 2031, by rising at a CAGR of 9.60% during the forecast period (2024- 2031).

The competitive landscape of the narcolepsy treatment market gives information by competitor. Company overview, financials, revenue generated, market potential, investments in R&D, new market initiatives, presence, production facilities, company strengths and weaknesses, product launch, clinical trial pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve are among the details provided. The aforementioned data points are limited to the companies' market research focus on narcolepsy treatment. 'Jazz Pharmaceuticals', 'Teva Pharmaceutical Industries', 'Novartis', 'Mylan N.V.', 'Shire Pharmaceuticals (acquired by Takeda Pharmaceutical Company Limited)', 'Ligand Pharmaceuticals', 'Bioprojet SCR', 'Arena Pharmaceuticals', 'Avadel Pharmaceuticals', 'Graymark Healthcare', 'Balance Pharmaceuticals', 'Theravance Biopharma', 'Biocodex', 'Flamel Technologies', 'Otsuka Pharmaceutical', 'Biogen', 'Aurobindo Pharma', 'Glenmark Pharmaceuticals', 'Lupin Pharmaceuticals'

Growing awareness of narcolepsy treatment is a significant driver propelling the narcolepsy market from 2023 to 2030. Additionally, since modafinil has fewer adverse effects than other stimulants, using it to treat patients is boosting the demand for it. Therefore, the adoption of suitable therapy can aid in the prevention of such diseases, propelling the narcolepsy market from 2022 to 2026.

The market growth driver for the narcolepsy market is the increasing prevalence of narcolepsy among various population segments worldwide. An increase in the number of persons experiencing various sleep disorders and hallucinations would have a positive impact on the market for narcolepsy drugs. Additionally, the rise in obesity rates worldwide are anticipated to support future growth in the narcolepsy market. In the coming years, it is anticipated that government initiatives and steps to raise awareness of narcolepsy would increase demand for narcolepsy products. The end-use category for hospitals is anticipated to contribute the most to the overall market because of the rise in narcolepsy patients seeking treatment at these facilities.

The market in North America is expected to continue dominating the market and derive benefits from factors such as higher healthcare expenditure, presence of strong players, and favourable reimbursement policy structure. The high prevalence rate of narcolepsy in the United States and Canada are further expected to help attract significant revenues for this region. A strong clinical pipeline also helps to sustain the local narcolepsy medication industry. A sizable portion of the population still has at least one sleep-related condition, which is expected to maintain the market's potential for growth higher in North America.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Narcolepsy Drugs Market News

Narcolepsy Drugs Market Report Snapshots

Want to customize this report?

FAQs

What is the market size of Narcolepsy Drugs Market?

Who are the key vendors in the Narcolepsy Drugs Market?

What is the key driver of Narcolepsy Drugs Market?

What is the key market trend for Narcolepsy Drugs Market?

Which region accounted for the largest share in Narcolepsy Drugs Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300