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).

Who are the key vendors in the Global Narcolepsy Drugs Market?

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, global 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'.

What is the key driver of Global Narcolepsy Drugs Market?

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.

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.

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

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 global 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.

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 News

In June 2024, Harmony Biosciences, a company focused on developed treatments for rare diseases announced that it got an approval for supplemental New Drug Application (sNDA) for WAKIX® (pitolisant) tablets by the FDA. The treatment is designed for pediatric patients of age 6 or older.
In June 2024, Taked Pharmaceuticals, a renowned pharmaceutical company from Japan revealed its Phase 2 clinical trial findings for a novel narcolepsy treatment. TAK-861 drug candidate was planned for a Phase 3 clinical trial in the end of 2024.
In May 2023, Avadel Pharmaceuticals, a leading pharmaceutical company headquartered in Ireland announced that it had won the approval for its new treatment for narcolepsy and cataplexy. The United States Food and Drug Administration (FDA) approved Lumryz as a once-at-bedtime treatment for patients of age 7 or older.

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

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.

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 global 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