Burlingame, Oct. 15, 2024 (GLOBE NEWSWIRE) -- CoherentMI published a report, titled, Narcolepsy Market is estimated to value at US$ 2.53 Billion in the year 2024, and is anticipated to reach US$ 4.68 Billion by 2031, with growing at a CAGR of 9.3% during forecast period 2024-2031. There has been a significant increase in the awareness regarding narcolepsy as a medical condition over the past decade. Various non-profit organizations and advocacy groups are actively working towards educating people about the signs, symptoms and available treatment options for narcolepsy. They conduct various awareness campaigns and educational programs to reach out to mass population as well as healthcare professionals. This has promoted early diagnosis and treatment seeking behavior for narcolepsy among people experiencing related symptoms. The high awareness levels have also boosted the acceptance and adoption of prescription drugs and restorative treatments for managing the condition.
Market Dynamics:
The growth of the global narcolepsy market is attributed to the increasing global prevalence of narcolepsy and rising demand for better treatment options. According to a report published by the National Institute of Neurological Disorders and Stroke, narcolepsy affects approximately 1 in 2,000 people. Furthermore, increased investment in research and development to develop advanced therapeutics is also expected to support market growth over the forecast period.
Request a Sample Copy of our Comprehensive Report: https://www.coherentmi.com/industry-reports/narcolepsy-market/request-sample
Report Coverage & Scope:
| Report Coverage | Details |
| Market Revenue in 2024: | US$ 2.53 Billion |
| Estimated Value by 2031: | US$ 4.68 Billion |
| Growth Rate: | Poised to grow at a CAGR of 9.3% |
| Historical Data: | 2019–2023 |
| Forecast Period: | 2024–2031 |
| Forecast Units: | Value (USD Million/Billion) |
| Report Coverage: | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered: | By Diagnosis Type, By Treatment Type, By Scale of Operation, By Age Group, By Distribution Channel, By Geography |
| Geographies Covered: | Global |
| Major Players: | Jazz Pharmaceuticals plc, Takeda Pharmaceutical Company, Teva Pharmaceuticals USA, Inc., Vanda Pharmaceuticals, Kyowa Kirin, Inc. and Among Others. |
| Growth Drivers: | • Increasing prevalence of narcolepsy worldwide due to rising stress levels and lifestyle changes |
| • Advancements in Research and Development | |
| Restraints & Challenges: | • High costs associated with narcolepsy treatment, limiting access for many patients |
Key Market Takeaways:
- The global narcolepsy market size is anticipated to witness a CAGR of 9.3% during the forecast period 2024-2031, owing to the growing diagnosis and treatment-seeking rates for this previously under-recognized sleep disorder.
- On the basis of diagnosis type, polysomnography segment is expected to hold a dominant position, accounting for around 30% of the market owing to its role as a gold standard test.
- On the treatment type basis, stimulants segment holds nearly half of the market share currently due to their long term use, however, Sodium oxybate segment is expected to witness higher growth during the forecast period due to its effectiveness.
- Based on scale of operations, large scale manufacturing segment holds majority of share and is expected to continue dominating over the forecast period owing to their ability to produce drugs in large volumes.
- By age group, pediatric segment dominating currently and is anticipated to retain leading position during forecast period attributed to rising diagnosis rates in children.
- Hospital pharmacies distribution channel holds over two-fifth market share currently and is expected to maintain lead owing to reliable procurement of drugs.
- Regionally, North America is dominating currently and anticipated to maintain leading position during forecast period due to growing awareness and supportive regulatory environment.
- Key players operating in the narcolepsy market include Arena Pharmaceuticals, CogState Ltd., Bioprojet, Graymark Healthcare and Axsome Therapeutics along with others. Collaborations between players are expected to help foster innovations to address unmet needs.
Market Trends:
Cataplexy, one of the defining symptoms of narcolepsy type 1, is a sudden and transient episode of muscle weakness triggered by emotions such as laughing, crying, or anger. There is a high demand for effective drugs that can treat cataplexy attacks. Key market players are focusing on developing new drugs for the treatment of cataplexy.
Various non-profit organizations conduct various awareness programs online through social media platforms in order to spread awareness about symptoms, diagnosis and treatment of narcolepsy. They focus on educating people about timely diagnosis and management of narcolepsy. Such initiatives are aiding the early identification of narcolepsy cases globally.
Recent Development:
- On February 2024, Takeda announced plans to launch global Phase III trials of its oral ORX2 agonist TAK-861 for narcolepsy type 1 in the first half of fiscal year 2024, while discontinuing its development for narcolepsy type 2. The decision follows positive Phase IIb trial results, where TAK-861 showed significant improvements in wakefulness and other key metrics compared to placebo in patients with narcolepsy type 1.
- In May 2022, Axsome Therapeutics has completed its U.S. acquisition of Sunosi (solriamfetol) from Jazz Pharmaceuticals. Sunosi is a dual-acting dopamine and norepinephrine reuptake inhibitor (DNRI) used to improve wakefulness in adults with excessive daytime sleepiness caused by narcolepsy or obstructive sleep apnea. The ex-U.S. transaction is expected to close within 60 days.
For more information about this report visit: https://www.coherentmi.com/industry-reports/narcolepsy-market
Narcolepsy Market Segmentation:
- By Diagnosis Type
- Polysomnography
- Multiple Sleep Latency Test (MSLT)
- Hypocretin/Orexin Level Test
- By Treatment Type
- Stimulants
- Wakefulness-Promoting Agents
- Antidepressants
- Sodium Oxybate
- Others
- By Scale of Operation
- Large-scale Manufacturing
- Small-scale/Specialty Manufacturing
- By Age Group
- Pediatric (0-17 years)
- Adult (18-64 years)
- Geriatric (65 years and above)
- Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Market Opportunities:
The diagnosis of narcolepsy is growing significantly which is creating a major market opportunity. Narcolepsy often goes undiagnosed for around 15 years on average due to lack of awareness and complex symptoms. However, diagnosis rates have improved significantly in recent years due to increased awareness among doctors and patients. Between 2000 and 2005, diagnosis rates increased by 50% according to the Mayo Clinic. This is expected to further accelerate given ongoing education and diagnostic improvements.
There have been important advances in treatment options for narcolepsy which is driving the market. Traditionally, stimulants were the main treatment method but newer drug classes like sodium oxybate and novel mechanisms are becoming available. Sodium oxybate received FDA approval in 2002 and has become a standard treatment, though expensive. Other newer options like Pitolisant and solriamfetol are offering alternatives. Investments in the development of alternative treatments like gene therapy also promise hope for improved outcomes over the long run.
Purchase Latest Edition of this Research Report @ https://www.coherentmi.com/industry-reports/narcolepsy-market/buynow
Narcolepsy Market Report - Table of Contents
- Research Objectives And Assumptions
- Market Purview
- Market Dynamics, Regulations, And Trends Analysis
- Narcolepsy Market, By Diagnosis Type, 2024-2031, (USD Bn)
- Polysomnography
- Multiple Sleep Latency Test (MSLT)
- Hypocretin/Orexin Level Test
- Narcolepsy Market, By Treatment Type, 2024-2031, (USD Bn)
- Wakefulness-Promoting Agents
- Antidepressants
- Sodium Oxybate
- Others
- Narcolepsy Market, By Scale of Operation, 2024-2031, (USD Bn)
- Large-scale Manufacturing
- Small-scale/Specialty Manufacturing
- Narcolepsy Market, By Age Group, 2024-2031, (USD Bn)
- Pediatric (0-17 years)
- Adult (18-64 years)
- Geriatric (65 years and above)
- Narcolepsy Market, Distribution Channel, 2024-2031, (USD Bn)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Narcolepsy Market, By Region, 2019-2031, Value (USD Bn)
- Latin America
- Europe
- Asia Pacific
- Middle East
- Africa
- Competitive Landscape
- Analyst Recommendations
- References and Research Methodology
Have a Look at Trending Research Reports:
Advanced Cancer Pain Management Market: The Global Advanced Cancer Pain Management Market is estimated to be valued at USD 8.1 Bn in 2024 and is expected to reach USD 12.9 billion by 2031, growing at a compound annual growth rate (CAGR) of 5.6% from 2024 to 2031.
Acute Radiation Syndrome Market: The Global Acute Radiation Syndrome Market is estimated to be valued at USD 5.2 Bn in 2024 and is expected to reach USD 7.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5% from 2024 to 2031.
Acute On Chronic Liver Failure (ACLF) Market: The Global Acute On Chronic Liver Failure (ACLF) Market is estimated to be valued at USD 4.2 Bn in 2024 and is expected to reach USD 6.1 Bn by 2031, growing at a compound annual growth rate (CAGR) of 5.3% from 2024 to 2031.
Medulloblastoma Drug Market: The Global Medulloblastoma Drug Market is estimated to be valued at USD 4.1 Bn in 2024 and is expected to reach USD 7.3 Bn by 2031, growing at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Author of this marketing PR:
Money Singh is a seasoned PR writer with over four years of experience in the market research sector. Known for her strong SEO background, she skillfully blends SEO strategies with insightful content. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
About Us:
At CoherentMI, we are a leading global market intelligence company dedicated to providing comprehensive insights, analysis, and strategic solutions to empower businesses and organizations worldwide. Moreover, CoherentMI is a subsidiary of Coherent Market Insights Pvt Ltd., which is a market intelligence and consulting organization that helps businesses in critical business decisions. With our cutting-edge technology and experienced team of industry experts, we deliver actionable intelligence that helps our clients make informed decisions and stay ahead in today's rapidly changing business landscape.
