Narcolepsy Market Eyeing Admirable Growth due to Favorable Reimbursement Policies
Global Narcolepsy Market Research Report, By Type (Type 1, Type 2 Narcolepsy) Diagnosis (Poysomnogram, Multiple Sleep Latency Test) Treatment (Stimulants, Antidepressants, Sodium Oxybate) End Users (Hospitals, Retail Pharmacies) – Global Forecast Till 2027
The global narcolepsy market is likely to grow at an 8.2% CAGR between 2017- 2023, according to the recent Market Research Future (MRFR) report. Narcolepsy is a rare condition that is oftentimes under-diagnosed. It is characterized by automatic behaviors, cataplexy, excessive day time sleepiness, sleep paralysis, hallucination, and excessive sleepiness. This disorder is caused by the lack of orexin, a brain chemical that regulates sleep. Puberty and menopause are other factors that can trigger narcolepsy.
Various factors are adding to the global narcolepsy market share. These factors, as per the new MRFR report, include favorable reimbursement policies, increase in healthcare expenditure, increase in research and development activities for finding a cure for narcolepsy, extensive efforts undertaken by non-government and government organizations to spread awareness about narcolepsy, and growing demand for advanced therapies for sleeping disorders. Additional factors adding market growth include an increase in stress levels, rising cases of narcolepsy for an unhealthy lifestyle, and increasing awareness about sleep disorders.
On the contrary, low per capita healthcare expenditure in middle & low-income countries and lack of awareness are factors that may impede the global narcolepsy market growth over the forecast period.
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The MRFR report provides an inclusive segmental analysis of the global narcolepsy market based on end user, treatment, type, and diagnosis.
By type, the global narcolepsy market is segmented into type 2 narcolepsy, type 1 narcolepsy, and others.
By diagnosis, the global narcolepsy market is segmented into multiple sleep latency test, polysomnogram, and others.
By treatment, the global narcolepsy market is segmented into sodium oxybate, antidepressants, stimulants, and others. The stimulants segment is again segmented into armodafinil, modafinil, and others. The antidepressants segment is again segmented into noradrenergic reuptake inhibitors, selective serotonin, tricyclics, and others. The tricyclics segment is again segmented into clomipramine, desipramine, imipramine, and others. The selective serotonin & noradrenergic segment is again segmented into fluoxetine, venlafaxine, and others.
By end users, the global narcolepsy market is segmented into retail pharmacies, clinics, hospitals, and others.
Based on the region, the global narcolepsy market covers the recent trends and growth opportunities across Europe, the Americas, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, the Americas will have the lions share in the market over the forecast period for a huge patient population, high healthcare expenditure, the presence of key industry players, and a well-developed healthcare sector. Canada and the US are the chief contributors in the region.
The global narcolepsy market in Europe is predicted to have the second-largest share over the forecast period for the presence of developed economies such as Germany, Italy, and France, increasing cases of obesity, huge patient population, and availability of funds for research and development.
The global narcolepsy market in the APAC region is predicted to grow at a quick pace over the forecast period for favorable government policies, developing healthcare sector, and the presence of developing economies such as China & India.
The global narcolepsy market in the MEA is predicted to have the smallest share in the market over the forecast period for stringent government policies in the African region and weak economies. The market in the Middle East will have a favorable growth for the huge healthcare expenditure due to the presence of several developed economies such as Qatar, Kuwait, and Saudi Arabia.
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Notable players profiled in the global narcolepsy market report include Ligand Pharmaceuticals, Inc. (U.S.), Shionogi Inc. (U.S.), Shire (Republic of Ireland), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Mylan N.V. (US), Graymark Healthcare, Inc. (US), Arena Pharmaceuticals, Inc. (US), BIOPROJET (Paris), and Jazz Pharmaceuticals Plc (Republic of Ireland).
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