Narcolepsy is a rare condition, which is often under diagnosed. The condition is characterized by excessive sleepiness, hallucination, sleep paralysis, excessive day time sleepiness, cataplexy, and automatic behaviors.
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Narcolepsy is caused due to lack of brain chemical known as orexin which regulates sleep. Several other factors can trigger narcolepsy such as menopause and puberty. The condition is rare and is estimated to affect more than 1 in 2000 people in the U.S. The condition does not have any cure, but drugs can improve the symptoms and bring about changes in lifestyle.
The global narcolepsy treatment market is expect to expand at a moderate CAGR during the forecast period. Increase in awareness about sleep disorders, rise in prevalence of these disorders due to unhealthy lifestyle, and surge in stress levels are the major factors anticipated to drive the global narcolepsy treatment market during the forecast period.
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Increase in demand for advanced therapies for sleeping disorders, extensive efforts of government and non-governmental organizations for spreading awareness about the disease, rise in R&D activities to find a cure for narcolepsy are the other factors expected to propel the global market. Moreover, rise in health care expenditure and reimbursement policies fuel the growth of the global narcolepsy treatment market during the forecast period. However, lack of awareness among patients and health care providers about the disease in developing countries are likely to restrain the global narcolepsy market during the forecast period.
The global narcolepsy treatment market can be segmented based on drug class, narcolepsy type, end-user, and region. In terms of drug class, the market can be classified into vasopressors, CNS stimulants, decongestants, serotonin reuptake inhibitors, and miscellaneous. Sodium Oxybate in the miscellaneous segment is expected to account for a significant share of the global market during the forecast period due to favorable reimbursement policies. Based on narcolepsy type, the global narcolepsy treatment market can be bifurcated into narcolepsy type 1 and 2. In terms of end-user, the market can be divided into drug stores, retail pharmacies, and e-commerce.
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The global narcolepsy treatment market is expected to grow at a significant pace across all regions. Geographically, the global market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2016 and is expected to continue its dominance during the forecast period. Increase in awareness towards narcolepsy treatment, prevalence of unhealthy lifestyle etc. are few of the major factor driving the growth of market in the region. Furthermore, advanced technology, rise in awareness among people about diagnosis of the disease, and high health care expenditure boost the growth of the narcolepsy treatment market in North America. Europe is also anticipated to account for a significant share of the global market due to increase in R&D activities and well-established health care infrastructure. The market in Asia Pacific is anticipated to expand at a faster growth rate during the forecast period. Asia Pacific is the most lucrative market due to rise in disposable income, adoption of health care solutions for better standard of life, rise in awareness about health, prevalence of lifestyle related diseases, surge in investment in pharmaceuticals and biotechnology sectors, and high prevalence of narcolepsy in countries such as Japan.
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Key players have adopted strategies such as extensive R&D, mergers, cost-effective drugs, collaborative partnerships, and approval from regulatory authorities to capture leadership position in the global narcolepsy treatment market. For instance, Jazz Pharmaceuticals’ Xyrem is the only U.S. FDA-approved drug used for cataplexy. Prominent players operating in the global narcolepsy treatment market are Jazz Pharmaceuticals plc, Bioprojet, Arena Pharmaceuticals, Inc., and Graymark Healthcare, Inc., among others.
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