Increase in prevalence of narcolepsy across the globe, surge in narcolepsy awareness programs, and presence of reimbursement policies regarding narcolepsy are expected to propel the growth of the global narcolepsy drugs market
PORTLAND, Oregon, July 16, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Narcolepsy Drugs Market by Disease Type (Daytime Extreme Sleepiness, Cataplexia, and Others) and Therapeutics Type (Central Nervous System Stimulants, Tricyclic Antidepressants, Sodium Oxybate, Selective Serotonin Reuptake Inhibitor, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026". According to the report, the global narcolepsy drugs market was pegged at $2.43 billion in 2018 and is projected to reach $5.36 billion by 2026, registering a CAGR of 10.3% from 2019 to 2026.
Rise in the global prevalence of narcolepsy, presence of reimbursement policies regarding narcolepsy, and narcolepsy awareness programs and services have boosted the growth of the narcolepsy drugs market. However, adverse effects and risks related to narcolepsy drugs and delayed diagnosis or misdiagnosis hamper the market growth. On the contrary, untapped markets in developing countries are expected to create lucrative opportunities in the near future.
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Daytime extreme sleepiness segment dominated the market
The daytime extreme sleepiness segment held the largest share in 2018, contributing nearly half of the market, owing to rise in prevalence of narcolepsy and other sleep disorders. However, the cataplexia segment is estimated to 10.7% during the forecast period, as patients suffering from cataplexia tend to lose muscle control and around 70% of narcolepsy patients have this symptom.
Selective serotonin reuptake inhibitor segment to manifest fastest growth
The selective serotonin reuptake inhibitor segment is estimated to portray the fastest CAGR of 11.3% during the forecast period, owing to increase in R&D activities for the development of these type of drugs by the key players. However, the sodium oxybate segment dominated the market in 2018, accounting for more than half of the market, as these drugs are highly effective to treat daytime extreme sleepiness and cataplexy.
Asia-Pacific region to portray fastest growth through 2026
The market across the Asia-Pacific region is expected to register the fastest CAGR of 11.4% during the forecast period, owing to increase in prevalence of narcolepsy and surge in adoption rate of narcolepsy drugs. However, the market across North America held the lion's share in 2018, contributing more than two-fifths of the market, owing to rise in number of narcolepsy and other sleep disorders in North America.
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Major market players
The report provides an in-depth analysis of the key market players such as Addrenex Pharmaceuticals, Ligand Pharmaceuticals, Teva Pharmaceutical Industries Ltd., Shire Plc, Jazz Pharmaceuticals Plc., Arena Pharmaceuticals, Graymark Healthcare, Inc., and Bioprojet.
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