The global Narcolepsy Treatment Market is estimated at USD 4.77 billion in 2022 and is projected to reach USD 6.67 billion by 2028, growing at a CAGR of 5.7% during the forecast period (2022 to 2028).
| Data Points | Market Insights |
|---|---|
| Market Value 2021 | USD 4.50 billion |
| Market Value 2022 | USD 4.77 billion |
| Market Value 2028 | USD 6.67 billion |
| CAGR 2022 to 2028 | 5.7% |
| Market Share of Top 5 Countries | 54.4% |
| Key Industry Players | ResMed Inc.; Koninklijke Philips N.V.; Merck & Co. Inc.; Drive DeVilbiss Healthcare LLC; GlaxoSmithKline Plc.; Fisher & Paykel Healthcare Limited; Pfizer Inc. |
Over the past few decades, the neurobiology of sleep has witnessed a substantial progress owing to the increasing development of animal models for understanding neurological functions of the brain and the complexities that may exist. This also includes the brain’s function in terms of sleep.
With the recent advent of the COVID-19 pandemic, there is a significant burden of respiratory distress caused by novel coronavirus, leading to respiratory failure and deaths associated with it, all across the globe. The burden has also led to a rise in sleep related disorders such as narcolepsy and cataplexy.
To promote awareness regarding sleep disorders and the availability of treatments associated with narcolepsy, various local, national and international institutes, councils and organizations have taken initiative approaches to raise informative facts on available options of narcolepsy treatment.
The rising awareness among patients due to the initiatives undertaken by such organizations are expected to prompt the understanding among people with regard to medications and treatment options available for narcolepsy.
Thus, the narcolepsy treatment market growth is provoked by the rising prevalence of sleep-related neurological disorders, increasing awareness regarding neurological disorders and the emergence of local pharmaceutical players.
The leading manufacturers operating in the global narcolepsy treatment market are focusing on launching new products and promoting their brands in order to gain maximum market share.
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| Particulars | Details |
|---|---|
| H1, 2021 | 5.74% |
| H1, 2022 Projected | 5.75% |
| H1, 2022 Outlook | 5.65% |
| BPS Change - H1, 2022 (O) - H1, 2022 (P) | (-) 10 ↓ |
| BPS Change - H1, 2022 (O) - H1, 2021 | (-) 9 ↓ |
FMI presents a comparative analysis about the market growth rates and development prospects in the global narcolepsy treatment market. The market is subject to influence by rise in patient base, high product adoption rate in accordance with impact of macro and industry factors.
Key developments in this market include development of novel therapeutics, favourable government policies for start-ups and attractive reimbursement opportunities for patients.
According to FMI, the narcolepsy treatment market is expected to decrease by 09 Basis Point Share (BPS) in H1-2022 when compared with H1-2021. When comparing H1-2022 outlook and H1-2022 Projected growth, the difference of 10 BPS was observed.
Key factors involved in the decrease of BPS is attributed to the disruption caused by the advent of the COVID-19 pandemic, leading to delays by manufacturers or their partners in the initiation or enrolment of patients in clinical trials, difficulties launching or commercialising products, patient discontinuations in clinical trials, and other related activities.
which could cause ongoing clinical trials to be delayed, reduce royalty revenues, increase development costs, and have a material adverse effect on manufacturers' financial condition, business, and operational results.
There are some plus points that stay ahead for the industry which include development of primary healthcare facilities and need for development of personalised medicine for orphan drugs.
The market value for narcolepsy treatment holds nearly 5.6% of the overall USD 80.0 Billion sleep aids market in 2021.
The prevalence of disorders such as cataplexy, sleep paralysis and excessive daytime sleepiness (EDS) is increasing over the globe. There is an active association by many organizations worldwide for an intent to increase awareness regarding such neurological disorders which associate with sleep disturbances and respiratory distress.
Some active organizations include the Narcolepsy Network Inc., Wake up Narcolepsy, the American Sleep Association and the European Narcolepsy Network.
Furthermore, the use of modafinil for treatment of patients with narcolepsy has shown lesser side-effects, and has enhanced the growth of the narcolepsy treatment market. The growth of the narcolepsy treatment market is associated with the higher efficacy of modafinil than traditional stimulants for prevention of sleep disorders.
There have been major advances in the field of neurobiology on the basis of narcolepsy, but the management of narcolepsy disorder remains symptomatic in the current scenario. The management of excessive daytime sleepiness is done with psychostimulants such as armodafinil and amphetamines as a form of third-line therapy.
Narcolepsy treatment market has thus been an active area for drug development and advancement of wake-promoting agents over the past few years.
The global narcolepsy treatment market expanded at 5.1% CAGR over the past 8 years from 2013 to 2021. The market is expected to expand at a considerable growth rate over the next six years at a CAGR of close to 5.7%.
Principal Consultant
High disease burden of sleep related disorders over the globe, such as obstructive sleep apnea is continuously providing an opportunity for key players in the sleep aids market to explore novel product concentrations for the management of sleep associated disorders. Sleep apnea is transforming into an important cause of medical morbidity and mortality.
Increasing prevalence of sleep apnea and other sleep related disorders increases the demand for drugs and devices used for treating them. This is set to increase the global narcolepsy treatment market growth over the forecast period.
Moreover, there is a limited presence of manufacturers within the narcolepsy market. In countries, such as China and India, the primary healthcare facilities have a limited capacity due to a large population base.
However, prevalence of sleep disorders, such as insomnia, narcolepsy and sleep apnea, is high and majority of the patients remain untreated due to limited resources.
Advanced healthcare technologies, such as sleep disorder diagnostic and therapeutic devices, will widen the scope for improvements in healthcare facilities in developing nations.
Additionally, narcolepsy treatment market also presents a lucrative stance in the development of personalized medicine for orphan diseases owing to the existing clinical, biological and genetic profiles of the disorder. This factor will aid in research and development processes for new drug development, and thus propel the growth of narcolepsy treatment market during the forecast period.
Lack of early diagnosis of sleep related problems can result into development of chronic conditions such as the risk of heart failure, high blood pressure, stroke, diabetes and obesity.
Sleep disorders such as Obstructive Sleep Apnea (OSA) have a high global prevalence, however, there is lack of awareness regarding OSA and the symptoms are deemed inconsequential by many people suffering from it, thus impacting the quality of life of an individual, as well as their productivity.
The availability of drugs for the treatment of narcolepsy and insomnia is apparent in the market for use, however, side effects associated with the uptake of such stimulants has proven to be risk inducing, and is thus responsible for the hampered growth of narcolepsy treatment market.
Furthermore, the addictive nature of sleep inducing drugs prescribed for individuals with sleep disorders has raised concern regarding the administration of these drugs for a longer term. The side effects and the addictive nature of treatment drugs for narcolepsy pose as great threat to the growth of narcolepsy treatment market.
Dearth of skilled medical personnel for operating sleep devices, especially in developing economies has acted as a hindrance in the growth of narcolepsy treatment market across the globe.
The lack of accurate documentation for usage and licensing of sleeping pills, and improper standardization of equipment related with sleep devices such as CPAP and BiPAP are some additional factors responsible for slow growth of sleep aids market and thus narcolepsy treatment market worldwide.
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The USA dominates the North American region with a total market share of nearly 91.4% in 2021, and is projected to continue experiencing high growth throughout the forecast period.
The growth of this market is driven by advanced healthcare systems in the region and rising efforts by various organizations to spread awareness among the general population on the prevalence of narcolepsy and sleep associated disorders. One such example is the establishment of the American Sleep Association in the country.
Germany exhibited a market value share growth of nearly 22.4% in the Europe narcolepsy treatment market in 2021 and is expected to hold a market value share of 24.6% by the end of 2028.
The growth is associated with the framework associated with new guidelines framed by the combined efforts of European Sleep Research Society (ESRS), European Academy of Neurology (EAN) and European Narcolepsy Network (EU-NN) for treatment of narcolepsy and associated sleep disorders in adults and children in the region.
In addition, favourable reimbursement policies for therapeutic products, strong clinical pipeline, and rising stress levels are the other factors anticipated to promote revenue growth.
China holds 28.2% share in the APAC narcolepsy treatment market in 2021, and is projected to grow at a lucrative rate of CAGR 9.8% during the forecast period.
The growth of the narcolepsy treatment market in the country is attributed to the high prevalence of the disorder in the country and relatively less awareness among the general population in terms of the symptoms associated with narcolepsy.
The generative efforts to increase public awareness regarding sleep disorders including narcolepsy have led to the country being a lucrative segment for the growth of narcolepsy treatment market, given that there is an emergence of local pharmaceutical players in China.
Devices in narcolepsy treatment project a lucrative growth at a CAGR of 5.9% till the end of the forecast period, with the current market share of around 63.2% in 2021.
This dominant market value is associated with the efficacy of devices such as CPAP and BiPAP machines in assistive breathing, thus providing relief from respiratory distress, and resulting in subsequent improvement in sleep and enhanced quality of life.
E-commerce holds current global narcolepsy treatment market value share of 19.6% in 2021, and is projected to achieve an estimated growth CAGR of 8.0% by the end of the forecast period.
This growth is linked with the availability of devices for sleep apnea over electronic media, thus proving to be accessible within areas of low resource availability along with the lack of presence of local distributors.
Key players in the narcolepsy treatment market focus on the acquisition of biopharmaceutical companies and possess a large pipeline for new molecular entities. Key players also collaborate and form alliance for product development and commercialization. Furthermore, major players focus on geographic expansion through inorganic growth strategy.
Similarly, recent developments related to companies manufacturing narcolepsy treatment market services and technologies have been tracked by the team at Future Market Insights, which are available in the full report.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2028 |
| Historical Data Available for | 2013 to 2021 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Latin America; Europe; APAC; Middle East & Africa (MEA) |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, Japan, India, ASEAN, Australia, New Zealand, South Africa and GCC Countries |
| Key Market Segments Covered | Product, Distribution Channel and Region |
| Key Companies Profiled | ResMed Inc.; Koninklijke Philips N.V.; Merck & Co. Inc.; Drive DeVilbiss Healthcare LLC; GlaxoSmithKline Plc.; Fisher & Paykel Healthcare Limited; Pfizer Inc. |
| Pricing | Available upon Request |
Narcolepsy Treatment Drugs
The global narcolepsy treatment market is worth USD 4.50 Billion in 2021.
The narcolepsy treatment market is expected to reach USD 6.67 Billion by the end of 2028, with sales revenue expected to register 5.7% CAGR growth.
From 2013 to 2021, the market for narcolepsy treatment expanded at the rate of 5.1%.
The USA, Germany, China, UK and Brazil are expected to drive demand for narcolepsy treatment market.
North America is one of the key segments for narcolepsy treatment market, with the USA expected to account over 89.9% of the North American market during the forecast period.
Demand for narcolepsy treatment in Europe is expected to register growth of 4.6% over the forecast period.
The USA, China and Germany are key producers of narcolepsy treatment services.
China narcolepsy treatment market appears to uphold a revenue share of 28.2% in the APAC narcolepsy treatment market in 2021. Japan holds a revenue share of 20.7% in the APAC region in 2021, and is expected to grow at a CAGR of nearly 6.9%.
1. Executive Summary 2. Market Introduction 3. Market Opportunity Analysis 4. Market Background 5. Global Economic Outlook 6. North America Market Analysis 2013 to 2021 and Forecast 2022 to 2028 7. Latin America Market Analysis 2013 to 2021 and Forecast 2022 to 2028 8. Europe Market Analysis 2013 to 2021 and Forecast 2022 to 2028 9. Asia Pacific Market Analysis 2013 to 2021 and Forecast 2022 to 2028 10. Middle East and Africa Market Analysis 2013 to 2021 and Forecast 2022 to 2028 11. Forecast Factors: Relevance and Impact 12. Forecast Assumptions 13. Competition Analysis 13.1. Merck & Co. Inc. 13.2. Pfizer Inc. 13.3. ResMed Inc. 13.4. GlaxoSmithKline Plc. 13.5. Fisher & Paykel Healthcare Limited 13.6. Drive DeVilbiss Healthcare LLC 13.7. Koninklijke Philips N.V. 14. Global Market Analysis 2013 to 2021 and Forecast 2022 to 2028 by Region 14.1. North America 14.2. Latin America 14.3. Europe 14.4. Asia Pacific 14.5. Middle East and Africa 15. Global Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Product 15.1. Drugs 15.1.1. Modafinil 15.1.2. Sodium Oxybate 15.1.3. Armodafinil 15.1.4. Others 15.2. Devices 15.2.1. CPAP Devices 15.2.2. BiPAP Devices 15.2.3. APAP Devices 15.3. Market Size (USD Million) Forecast By Product, 2022 to 2028 16. Global Market Analysis 2013 to 2021 and Forecast 2022 to 2028, By Distribution Channel 16.1. Hospital Pharmacies 16.2. Retail Pharmacies 16.3. e-commerce 16.4. Drug Stores 16.5. Others 17. Global Market Analysis 2013 to 2021 and Forecast 2022 to 2028 18. Assumptions and Acronyms Used 19. Research Methodology
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Narcolepsy Treatment Market
