The global narcolepsy market is expected to reach US$ 4,537.9 Mn in 2027 from US$ 2,026.8 Mn in 2018
LONDON, March 11, 2019 /PRNewswire/ --
The global narcolepsy market is expected to reach US$ 4,537.9 Mn in 2027 from US$ 2,026.8 Mn in 2018. The market is estimated to grow with a CAGR of 9.5% from 2019-2027.
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The growth of the narcolepsy market is primarily attributed to the rising prevalence of sleep related neurological disorders, emerging local pharmaceutical and biopharmaceutical companies, and increasing awareness regarding neurological disorders.However, side effects and risks associated with the narcolepsy medications and delayed diagnosis and misdiagnosis of the disease are likely to pose a negative impact on the market growth.
On the other hand, robust pipeline of drugs intended for the treatment of narcolepsy is likely to have a positive impact on the growth of the global narcolepsy market in the coming years.The range of sleep disorders that are treated by neurologists is wide and includes conditions such as insomnia, sleep apnea, restless legs syndrome, and narcolepsy.
These disorders cause disruptions in the normal sleep-wake mechanisms causing endogenous abnormalities.Neurological sleep related disorders is an emerging problem as the population is ageing at a rapid rate.
According to the National Institute of Health (NIH), approximately 40 million Americans suffer from neurological diseases in the US, whereas additional 20 million people experience occasional sleeping problems. Sleep attacks are not limited to periods of dull or low engagement activities, but can happen during school or work hours, in the middle of a conversation, while eating, while exercising or playing sports, or even while driving. The increasing prevalence of neurological sleep disorders and narcolepsy is likely to foster the growth of market in the coming years.
In 2018, the narcolepsy with cataplexy segment held a largest market share of 65.1% of the narcolepsy market, by type. This segment is also expected to dominate the market in 2027 owing to its significant prevalence among patients suffering with narcolepsy. Episodes of cataplexy are reported to be encountered among 55-60% of patients suffering with narcolepsy. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 9.7% during the forecast period, 2019 to 2027 owing to the increasing demand for drugs to treat the disease.
Global narcolepsy market, based on product was segmented into sodium oxybate, CNS stimulants and antidepressants. Sodium oxybate segment is anticipated to grow at a CAGR of 9.8% during the forecast period. Sodium oxybate is the one of the primary medication recommended by specialists to patients suffering with narcolepsy. The high cost of the branded counterparts, availability of reimbursement with certain regions as well as approval of the drug in majority of the top markets is likely to contribute to the growth and dominance of the segment. Sodium is oxybate is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.
Some of the major primary and secondary sources for narcolepsy included in the report are World Health Organization (WHO), European Medical Agency (EMA), National Health Commission (NHC), China National Drug Administration (CNDA), Food & Drug Administration (FDA), National Institute of Neurological Disorders and Strokes, International Federation of Pharmaceutical Manufacturers & Associations and others.
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