Global Narcolepsy Market to 2028: Growing Initiatives by Government Organizations Fuels the Sector

DUBLIN, April 25, 2023 /PRNewswire/ -- The "Narcolepsy Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented by Type (Type 1, Type 2, Others), By Diagnosis (Polysomnogram, Multiple Sleep Latency Test, Others), By Treatment, By End User, By Region and Competition" report has been added to  ResearchAndMarkets.com's offering.

The global narcolepsy market is anticipated to register an impressive growth rate during the forecast period.

Companies Mentioned

• Jazz Pharmaceuticals Plc.
• BIOPROJET.
• Arena Pharmaceuticals, Inc.
• Graymark Healthcare, Inc.
• Mylan N.V.
• Teva Pharmaceutical Industries Ltd.
• Novartis AG.
• Shire.
• Shionogi Inc.
• Ligand Pharmaceuticals, Inc.

This can be ascribed to the rising number and size of investments in the healthcare sector for the treatment of sleep disorders across the region.

Additionally, the growing prevalence of neurological disorders such as sleep apnea and insomnia due to stressful lifestyles is expected to drive the growth of the market over the years. Similarly, the major players are investing in the development of narcolepsy drugs at low cost, which is expected to further drive the growth of the market over the forecast period, according to Clinical trials. Gov,131 studies have been found for narcolepsy drugs.

Among them, narcolepsy cataplexy-type drugs can be taken by both males and females between 18-55 years of age. Moreover, significant improvements in the diagnostic technologies for narcolepsy and pharmaceutical companies are developing variants with long-term benefits and reduced side which are further expected to increase the demand for narcolepsy, thereby fuelling the market growth through 2028.

Furthermore, an increasing number of major players in the market focusing on developing new drugs and therapies for the benefit of users is further expected to increase the demand for narcolepsy, thereby supporting the market growth. According to CDC, in 2020, 34.8 % of people were affected with narcolepsy or sleep disorder among the U.S population.

Growing Prevalence of Narcolepsy

The growing severity of the disease and the growing number of people affected by narcolepsy due to stressful lifestyles, an inherited genetic fault, hormonal changes that take place during puberty or menopause, and a sudden change in sleep patterns are the main factors driving the growth of the market during the forecast period.

Moreover, narcolepsy medications can also be used to treat sleep apnea, insomnia, and restless legs syndrome, which will further drive the growth of the market. The major drivers of the narcolepsy market growth throughout the forecast period are rising narcolepsy prevalence and a growing obese population.

In addition, because it has fewer adverse effects than other stimulants, the use of modafinil to treat patients is adding to its market expansion. So, proper treatment can aid in the prevention of such ailments, which is expected to drive the global narcolepsy market. It's estimated that 1 to 4% of children suffer from sleep apnea, many of them being between 2 and 8 years old.

Growing Initiatives by Government Organizations

Growing awareness about narcolepsy treatment among the population is expected to create significant growth during the forecast period. Moreover, the use of modafinil to treat patients because it has fewer side effects, and it can help to prevent such disorders, thereby driving the narcolepsy market during the forecast period.

Government organizations from different countries, such as India and South Africa, have taken initiatives for campaigns to educate people and health workers about the narcolepsy drug's advantages and narcolepsy treatment in developing as well as rural areas, which is expected to boost market growth during the forecast period. According to the National Institute of Neurological Disorders and Stroke fact sheet updated in November 2021, narcolepsy affects anywhere between 135,000 and 200,000 people in the United States.

The rise in donations for the development of narcolepsy treatments in the United States is further anticipated to drive the growth of the market over the years. Moreover, the rapid adoption of a new therapy for the treatment of narcolepsy drugs is anticipated to drive market growth over the forecast period.

Furthermore, Project Sleep, a non-profit organization based in the United States, launched a program called "Rising Voices of Narcolepsy" to educate people about narcolepsy to share their stories through writing and verbally addressing local communities to raise awareness and reduce social stigma among others suffering from the disease.

Report Scope:

In this report, the global narcolepsy market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Narcolepsy Market, By Type:

• Type 1
• Type 2
• Others

Narcolepsy Market, By Diagnosis:

• Polysomnogram
• Multiple Sleep Latency Test
• Others

Narcolepsy Market, By Treatment:

• Stimulants
• Antidepressants
• Sodium Oxybate
• Others

Narcolepsy Market, By Route of End User:

• Hospitals
• Clinics
• Retail Pharmacies
• Others

For more information about this report visit https://www.researchandmarkets.com/r/g3twnv

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