Increase in prevalence of narcolepsy globally and rise in awareness regarding the importance of early diagnosis of narcolepsy play a major role in the market.
PORTLAND, OR, UNITED STATES, August 13, 2021 /EINPresswire.com/ — UPDATE AVAILABLE ON-DEMAND
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 global narcolepsy drugs market generated $2,429 million in 2018, and is projected to reach $5,360 million by 2026, growing at a CAGR of 10.3% from 2019 to 2026. The electroencephalography devices segment accounted for more than one-fifth of the total market share in 2017.
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1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.
2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.
3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.
The worldwide narcolepsy drug market size has seen huge development in the previous few years, attributable to ascend in mindfulness in regards to the advantages of early conclusion of narcolepsy medication and accessibility of wide assortment of narcolepsy drugs contribute toward the market development. Legislatures of nations, for example, India and South Africa are advancing the consciousness of significance of narcolepsy, which is additionally expected to help the narcolepsy drug market development during the figure time frame. Be that as it may, tough unofficial laws toward the endorsement for novel narcolepsy drugs is projected to hamper the market development during the gauge time frame. Alternately, undiscovered business sectors in the agricultural nations are relied upon to offer gainful freedoms for the market major parts sooner rather than later.
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.
The Major Key Players Are:
• Ligand Pharmaceuticals
• Addrenex Pharmaceuticals
• Shire Plc
• Teva Pharmaceutical Industries Ltd.
• Arena Pharmaceuticals
• Jazz Pharmaceuticals Plc
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Key Findings of the Narcolepsy Drugs Market:
• Based on disease type, the cataplexia segment is expected to experience rapid growth in the market, and is projected to grow at a highest CAGR from 2019 to 2026.
• Depending on disease type, the daytime extreme sleepiness segment holds the highest share in 2018, and is anticipated to continue this trend during the forecast period.
• By therapeutics type, the sodium oxybate segment was the major revenue contributor in 2018, and is anticipated to continue this trend during the forecast period.
• Asia-Pacific region is anticipated to grow at high CAGR during the forecast period.
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