Narcolepsy Drugs Market Size Prognosticated to Perceive a Thriving Growth by 2030

The increase in number of patients suffering from sleep disorders further fuels the growth of the global narcolepsy drugs market

Narcolepsy is a chronic disabling condition with symptoms such as cataplexy, excessive daytime sleepiness (EDS), sleep paralysis, hypnogogic hallucinations, and disrupted nocturnal sleep. Most of the narcolepsy drugs are used to treat symptoms related to cataplexy and excessive daytime sleepiness.

The narcolepsy drugs market was valued at $2,680.06 million in 2020, and is projected to reach $6,667.80 million by 2030, registering a CAGR of 9.6% from 2021 to 2030.

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The narcolepsy drugs market size has witnessed significant growth in the past few years. The growth in awareness regarding the health benefits of narcolepsy drug superfood among consumers and a wide variety of natural colors produced by narcolepsy drug contribute toward the market growth. Drug development for narcolepsy treatment has gained incredible momentum the past few years. In addition, governments of countries such as India and South Africa are promoting the production of narcolepsy drug considering its health benefits, which is further expected to boost the narcolepsy drugs market growth during the forecast period. However, lower stability and poor sustainability of natural colors derived from narcolepsy drug as compared to synthetic colors and stringent government regulations are projected to hamper the market growth during the forecast period. Conversely, untapped markets in the developing countries are expected to offer remunerative opportunities for the market players in the near future.

Based on narcolepsy disease type, the narcolepsy drugs market is segmented into daytime extreme sleepiness, cataplexia, and others. Daytime extreme sleepiness segment is the highest revenue generator in the overall narcolepsy drugs market, as large number of people suffering from narcolepsy and other sleep disorders have a higher risk of this symptom, thus increasing the demand for narcolepsy drugs. However, the cataplexia segment is expected to grow at the highest rate, as patients suffering from cataplexia experience loss of muscle control, and almost 70% of narcolepsy patients are found to have this symptom.

Based on therapeutics type, the narcolepsy drugs market is segmented into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitor, and others. The sodium oxybate segment held the highest share global narcolepsy drugs market in the 2018, as these drugs are highly effective to treat daytime extreme sleepiness and cataplexy. However, selective serotonin reuptake inhibitor segment is expected to grow at the highest rate due to increase in R&D activities for the development of these type of drugs by the key players.

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The Major Key Players Are:

Arena Pharmaceuticals, Inc., Bioprojet Company, Graymark Healthcare, Inc., Hikma Pharmaceuticals PLC, Jazz Pharmaceuticals plc., Ligand Pharmaceuticals Incorporated, Shionogi Inc., Takeda Pharmaceutical Company Limited, Novartis International AG, and Teva Pharmaceutical Industries

Key Findings of the Narcolepsy Drugs Market:

  • By disease type, the daytime extreme sleepiness segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
  • By therapeutic type, the sodium oxybate segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
  • By region, Asia-Pacific is expected to experience market growth at the highest rate during the forecast period.

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