The global narcolepsy therapeutics market is in the rapidly evolving and dynamic stage, which opens ample opportunities for life science companies. Also, companies that are already in the development phase for narcolepsy therapies are trying to bring advanced treatment options to the market to improve the quality of life of people with narcolepsy. The companies operating in the global narcolepsy therapeutics market are now focusing more on disease-specific and personalized treatment options. Also, major players such as Jazz Pharmaceuticals PLC, Takeda Pharmaceuticals Co. Ltd, and Bioproject Pharma are investing heavily in research and development for their respective therapeutic products.
The global narcolepsy therapeutics market is projected to reach $4,912.3 million by 2032 from $915.2 million in 2021 at a CAGR of 15.93% during the forecast period 2022-2032. This The market is driven by certain factors, such as low satisfaction with available therapies, robust pipeline products, rising uptake of narcolepsy awareness programs, and improving diagnosis.
Impact
Albeit narcolepsy is an orphan disorder with only about 3 million people globally, the existing management of narcolepsy propounds the area as investigational for drug research and development. Currently, all available therapies are symptom-centric and do not cure the condition. In about 50% of people, disorder onset often occurs prior to age 25 with a delayed diagnosis, especially in adolescents. Insubstantial abilities of existing therapies to cover a complete range of symptoms and insignificant improvement in the quality of life of people with narcolepsy have led to the emergence of several innovative therapies in recent years. The market witnessed approximately 39 regulatory and legal developments during the time period between January 2019 and May 2022.
In addition, the disorder profoundly increases the psychosocial burden on people with narcolepsy. Associated high treatment costs and dwindled work productivity with reduced income levels are some of the key factors adding to the psychosocial burden for people living with narcolepsy. Most companies are focusing on expanding their product portfolio with the launch of best-in-class distinctive novel therapeutics and trying to address the limitations and challenges with available therapies in an effort to increase their global footprint alongside.
Market Segmentation
Segmentation 1: by Indication
• Type 1 Narcolepsy
• Type 2 Narcolepsy
• Secondary Narcolepsy
Due to recent research and development in type 1 narcolepsy, significant therapies with novel mechanisms of action, reduced dosing, and better efficacy are emerging. Therefore, the segment is dominated by type 1 narcolepsy, which held a share of 69.60% in 2021.
Segmentation 2: by Product
• Commercialized Products
• Pipeline Products
In 2021, the global narcolepsy therapeutics market (by product) is dominated by commercialized products with 100% market share.
Segmentation 3: by Therapeutic Type
• Central Nervous System Stimulant
• Norepinephrine Reuptake Inhibitor
• Histamine-3 (H3) Receptor Antagonist/Inverse Agonist
The global narcolepsy therapeutics market (by therapeutics) is presently dominated by central nervous system stimulant, with a value of $535.3 million, as of 2021.
Segmentation 4: by Country
• U.S.
• Germany
• Italy
• France
• U.K.
• Spain
• Japan
In 2021, the U.S. accounted for a share of 93.48% of the global narcolepsy therapeutics market. The segment is expected to reach $4,327.7 million in 2032 from $855.5 million in 2021 at a CAGR of 15.24% during the forecast period 2022-2032.
Recent Developments in the Global Narcolepsy Therapeutics Market
• On March 28, 2022, Jazz Pharmaceuticals PLC divested Sunosi. Axsome Therapeutics, Inc. will expand its presence in neuroscience by acquiring Sunosi (solriamfetol) from Jazz Pharmaceuticals PLC.
• On August 31, 2021, Health Canada approved Jazz Pharmaceutical's Sunosi (solriamfetol) for excessive daytime sleepiness associated with narcolepsy.
• On August 10, 2021, Harmony Biosciences LLC's successful track record of Wakix motivated Blackstone to enter a strategic financing collaboration, where the company agreed to invest up to $330.0 million of financing and growth capital in Harmony Biosciences LLC.
• On September 16, 2021, Axsome Therapeutics, Inc. announced the enrolment of the first patient in the new phase 3 clinical trial SYMPHONY (a study evaluating a mechanistic approach to treating narcolepsy) of AXS-12 in narcoleptic patients.
Demand - Drivers and Limitations
Following are the demand drivers for the global narcolepsy therapeutics market:
• Large Population of Undiagnosed and Untreated Narcolepsy Population
• Increasing Research Funding for Neuroscience
• Approval of Advanced Therapies with Novel Mechanism of Action (MoA)
• Existing Unmet Needs of Patients and Healthcare Professionals (HCPs)
The market is expected to face some limitations due to the following challenges:
• Delayed Diagnosis
• Lack of Awareness
Analyst’s Perspective
According to Sara Virmani, Senior Research Analyst, BIS Research, “The global narcolepsy therapeutics market is in a dynamic stage. Low satisfaction with available therapies, improved recently marketed therapies, robust pipeline products, rising uptake of narcolepsy awareness programs, and improving diagnosis are contributing to significant growth of the market during the forecast period.. The continued substantial investments by healthcare companies and government authorities to meet industry demand and the growing adoption of emerging therapies are the major factors propelling the growth of the global narcolepsy therapeutics market.”
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Some of the prominent names established in this market are:
• Jazz Pharmaceuticals PLC
• Harmony Bioscience, LLC
• Axsome Therapeutics, Inc.
• Avadel Pharmaceuticals PLC
• Takeda Pharmaceutical Co Ltd
• Sumitomo Pharma Co Ltd
• Suven Life Sciences Limited
• NLS Pharmaceutics AG
• Balance Therapeutics
Key Questions Answered in the Report
- What are the major market drivers, challenges, and opportunities in the global narcolepsy therapeutics market?
- What are the key development strategies being implemented by the major players to sustain in the competitive market?
- Which is the dominant therapeutic type developed by the leading and emerging players for narcolepsy?
- What are the key class of drugs that have been considered by leading players in the global narcolepsy therapeutics market?
- What are the most promising emerging and investigational therapies in narcolepsy?
- How is each segment of the market expected to grow during the forecast period from 2022 to 2032? Following are the segments:
- Indication (type 1 narcolepsy, type 2 narcolepsy, and secondary narcolepsy)
- Product (Commercialized and pipeline products)
- Therapeutic type (central nervous system stimulant, norepinephrine reuptake inhibitor, and histamine-3 (H3) receptor antagonist/inverse agonist)
- Country (U.S., U.K., Germany, France, Italy, Spain, and Japan)
- Which companies are anticipated to be highly disruptive in the future, and why?
- What are the reimbursement scenario and the regulations for narcolepsy in seven major markets?
- What are your treatment guidelines for narcolepsy in seven major markets?
View the report on the Global Narcolepsy Therapeutics Market
