The Global Narcolepsy Therapeutics Market was estimated at USD 1348.15 Million in 2017 and is anticipated to gain significant traction over coming years.
Narcolepsy is a chronic nerve disease which is associated with sleep paralysis, hypnagogic hallucinations, Excessive Daytime Sleepiness (EDS), fragmented night sleep, and cataplexy. Narcolepsy is the brain incapability to control sleep-wake phases. The sleep attack can befall during any activity such as while eating, playing, during the conversation or driving. Individuals with such disorder have robust impulse to sleep and have a lack of energy. Narcolepsy generally triggers owing to lack of brain chemical known as hypocretin, inherited conditions, mental illness, hormonal changes, immune-system dysfunction, infections, trauma or stress. Approximately 10% of people having narcolepsy with cataplexy partake a genetic tendency. Narcolepsy can arise in both women or men at any age. Such disorders typically occur in the early twenties and last all throughout the entire life. Narcolepsy syndrome is generally confused with insomnia. Nevertheless, people with narcolepsy experience normal life, yet through the appropriate diagnosis and therapies, the narcolepsy can be controlled.
The global Narcolepsy Therapeutics Market is majorly driven by an incidence of several sleep syndromes. According to the Narcolepsy Networks, Narcolepsy affects an estimated 1 in every 2,000 people in the U.S. That is 200,000 Americans, and around 3 million of a global population. In addition, increasing consciousness regarding the disease and growing demand for advanced therapeutics and diagnostics are another factors expected to boost the market growth. Furthermore, growing demands for appropriate treatment of the disorder followed by growing R&D activities are anticipated to boost the narcolepsy therapeutics market growth.
However, lack of consciousness and lower healthcare spending within the middle and low-income economies are the anticipated to hinder the global narcolepsy market during the forecast period.
The global Narcolepsy Therapeutics Market is segmented on the basis of product, type, and geography.
On the basis of product, the global Narcolepsy Therapeutics Market is segmented into Sodium Oxybate, Central Nervous System Stimulants, Selective Serotonin Reuptake Inhibitor, and Tricyclic Antidepressants. In 2017, Sodium oxybate was estimated to dominate the market segment. The dominance is due to the presence of favorable reimbursement guidelines, the high cost of this drug, and the increasing awareness levels relating to diagnosis & associated treatments of the disease.
On the basis of type, the global Narcolepsy Therapeutics Market is segmented into Narcolepsy with Cataplexy, Narcolepsy without Cataplexy, and Secondary Narcolepsy. In 2017, the Narcolepsy with cataplexy segment was estimated to dominate the market growth. The dominance is attributed to the growing incidence of cataplexy as a major indication in patients.
In terms of geography, Europe was estimated to dominate the global Narcolepsy Therapeutics Market. The dominance is majorly attributed to the well-established healthcare organizations, rising R&D initiatives for the expansion of novel drugs, and high incidence of people suffering from such disorder. However, Asia Pacific is expected to dominate the global Narcolepsy Therapeutics Market during the forecast. Rising disposable income, increasing investments in biotechnology and pharmaceutical sectors, economic development, supportive government initiatives, and rising awareness among people regarding the appropriate therapies are the factors expected to significantly boost the Narcolepsy Therapeutics Market in the Asia Pacific.
Major firms are focusing on small firms with a working methodology of securing the end goal to manage position in the market and are associated with mergers and acquisitions, key joint efforts, and novel item advancement to pick up profit share in the business. Some major key players in global Narcolepsy Therapeutics Market includes Addrenex Pharmaceuticals, Inc., Arena Pharmaceuticals, Inc., BIOPROJET, Cephalon, Inc., Evotec AG, Graymark Healthcare, Inc., Hypnion, Inc., Jazz Pharmaceuticals, Inc., Ligand Pharmaceuticals, Inc., and Teva Pharmaceutical Industries Ltd. among others.