Global Narcolepsy Therapeutics Market Envisaged to Reach USD 7.75 Billion By 2032, at 9.5% CAGR Growth: Polaris Market Research

NEW YORK, April 21, 2023 /PRNewswire/ -- A latest research report [115+] pages with 360-Degree visibility, titled "Narcolepsy Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Type (Cataplexy, Narcolepsy without Cataplexy, Secondary Narcolepsy); By Product; By Region; Segment Forecast, 2023 - 2032" published by Polaris Market Research in its research repository.

"According to research report, the global narcolepsy therapeutics market size/share was valued at USD 3.14 Billion in 2022 and is expected to reach USD 7.75 Billion By 2032, growing at a CAGR of 9.5% during the forecast period."

What is Narcolepsy Therapeutics? How Big is Narcolepsy Therapeutics Market Size & Share?

• Overview

Narcolepsy is sleep disarray that renders people drowsy in the course of the day. People with narcolepsy find it difficult to stay wakeful for a longer duration of time. The rapidly rising demand for the narcolepsy therapeutics market can be attributed to it causing unforeseen loss of muscle tone, known as cataplexy. This can be activated by robust emotion, particularly laughter.

The market is anticipated to grow significantly due to growing cases worldwide. The pervasiveness in North America is approximately 0.07%. The cases of narcoleptic patients without cataplexy is 1.37 per 100,000 people, and with cataplexy is 0.7 per 100 people. As per the data produced by Narcolepsy UK, a minimum of 25,000 people in the UK are agonized by this condition. Approximately 75% of them are unprocessed as they stay concealed or are misdiagnosed.

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Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Addrenex Pharmaceuticals Inc.
• Arena Pharmaceuticals Inc.
• BIOPROJET
• Cephalon Inc.
• Evotec AG
• Graymark Healthcare Inc.
• Hypnion Inc.
• Jazz Pharmaceuticals Inc.
• Ligand Pharmaceuticals Inc.
• Teva Pharmaceutical Industries Ltd

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Market Dynamics/Drivers & Opportunities:

• Insufficient awareness amongst people and healthcare providers: As per the narcolepsy network, only 25% of people developing the environment are expected as diagnosed worldwide. The Narcolepsy therapeutics market size is expanding as the illness is proportionately tough to diagnose because of insufficient awareness among people and healthcare providers.
• Emerging geriatric population: The market is predominantly driven by the emerging geriatric population with the requirement for medical awareness, growing instances of narcoleptic illnesses, altering lifestyles, and the increase in the stress proportion that causes narcolepsy disorder.
• Growth in healthcare disbursement: Narcolepsy therapeutics market sales are soaring due to escalated research ventures. An increase in healthcare disbursement and the existence of superlative medical configurations are anticipated to drive the industry in the near future.
• Insufficient brain chemicals: Narcolepsy usually triggers due to inadequate brain chemicals known as hypocretin, inherited circumstances, mental disorders, hormonal alterations, immune system ailment, stress, trauma, and infections. Roughly 10% of people of having narcolepsy with cataplexy take part in a genetic propensity.

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Top Trends Influencing the Market

Commodification of new medicines: In the impending years, market advancement will also be notably impacted by market contenders' approval and commodification of new medicines. For instance, in March 2021, Avadel's New Drug Application (NDA) for FT218 sanctioned by the Food and Drug Administration (FDA) and exploratory, once-daily formulation of sodium oxybate utilized to cure immoderate daytime sleepiness and cataplexy in people with narcolepsy.

Approval of Modafinil: In April 2021, research was executed by neurotherapeutics and was labeled "A practical guide to the pharmacological and behavioral therapy of Narcolepsy" A CNS inducer modafinil has got sanctioned by the European Medicine Agencies (EMA) and FDA for grown-up narcolepsy patients, and it portrays probable impact and have a restricted side effect.

The connection between stress and narcolepsy circumstances: The market is predominantly pushed by the elderly population's need for therapies, a growth in narcoleptic illnesses, altering lives, and the connection between stress and narcolepsy circumstances. The market is anticipated to be future-driven by escalated research endeavors, an increase in healthcare disbursement, and the prevalence of superlative medical frameworks.

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Segmental Analysis

• The cataplexy segment is anticipated to dominate the market

Based on type, the cataplexy segment is anticipated to dominate the market. Narcolepsy therapeutics market demand is on the rise due to the advancement of nonpharmacological interference for cataplexy in narcolepsy involving lifestyle alterations such as circumventing set-offs that can persuade cataplexy bombardments, refining stress curtailment procedures, such as meditation and yoga.

• The sodium oxybate segment has the largest market share

Based on product, the sodium oxybate segment have the largest market. Narcolepsy therapeutics market trends include the prescription of this medicine as it is a central nervous system depressant consumed at sleep time and is expected to assist in enhancing nighttime sleep and lessen the incidence of cataplexy attacks.

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Narcolepsy Therapeutics Market: Report Scope & Coverage

Geographic Overview

• North America: The region held the largest narcolepsy therapeutics market share as this region is dominated by which have the highest cases of narcolepsy. The US Food and Drug Administration (FDA) has sanctioned many medications for narcolepsy, including sodium oxybate, modafinil, and so on. These medicines are broadly specified and anticipated to keep propelling growth in the North American market.
• Asia Pacific: The region is also anticipated to dominate the global industry due to growing disposable income, increasing funding in biotechnology and pharmaceutical quarters, economic advancements, nurturing government resourcefulness, and emerging consciousness amongst people in context to the accurate therapies are the elements anticipated to notably push the market in Asia Pacific.

Browse the Detail Report "Narcolepsy Therapeutics Market Share, Size, Trends, Industry Analysis Report, By Type (Cataplexy, Narcolepsy without Cataplexy, Secondary Narcolepsy); By Product; By Region; Segment Forecast, 2023 - 2032" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/global-narcolepsy-therapeutics-market    

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Recent Developments

• In March 2022, Axsome Therapeutics Inc. and Jazz Pharmaceuticals signed the legal contract for Axsome Therapeutics Inc. to acquire Sunosi (solriamfetol), is a medication indicated to improve wakefulness in adult patients with excessive daytime sleepiness due to narcolepsy or obstructive sleep apnea.
• In January 2021, Harmony Biosciences announced the submission of a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for pitolisant, a medication indicated for the treatment of cataplexy and excessive daytime sleepiness in patients with narcolepsy.

Frequently Asked Questions

• What is the anticipated industry size of the market?
• Who are the top market players?
• Which region contributes notably towards the market?
• What will be the expected CAGR of the market during the forecast period?
• What are the key segments in the market?
• What growth strategies are the players considering to stay in the market?

Polaris Market Research has segmented the Narcolepsy Therapeutics market report based on type, product, and region:

By Type Outlook

• Cataplexy
• Narcolepsy without Cataplexy
• Secondary Narcolepsy

By Product Outlook

• Sodium Oxybate
• Central Nervous System Stimulants
• Selective Serotonin Reuptake Inhibitor
• Tricyclic Antidepressants

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research