Narcolepsy Market Highlights
Rising narcolepsy prevalence and increasing obese population are the key drivers of growth in the narcolepsy market during the forecast period. Growing demands for efficient clinical care accompanied by rising research and development are also driving the growth of the narcolepsy industry.
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However, it is projected that a lack of understanding and low per capita healthcare spending across middle and low-income countries’ geographical borders restrict the global demand for narcolepsy during the forecast period. Moreover, lack of knowledge and low healthcare expenditure per capita in middle and low-income countries may limit the growth of the global narcolepsy market during the forecast period.
Narcolepsy Market Segmentation
On the basis of the type, the narcolepsy market is segmented into type 1 narcolepsy, type 2 narcolepsy, and others.
On the basis of the diagnosis, the narcolepsy market is categorized into polysomnogram, multiple sleep latency tests, others.
On the basis of the treatment, the market is segmented into stimulants, antidepressants, sodium oxybate, and others.
Narcolepsy Market Regional Analysis
America leads the global market for narcolepsy due to a well-developed healthcare system, enormous healthcare spending, and a massive patient population. According to the 2018 National Institution of Neurological Diseases and Stroke, about 135,000 to 200,000 individuals in the United States are estimated to be dealing with narcolepsy. In addition, the presence of developing economies such as the U.S. and Canada, and foreign competitors such as Mylan N.V., Ligand Pharmaceuticals, Inc., and others across America’s geographic borders drives demand growth in narcolepsy.
Europe is the second-largest narcolepsy market and is led by the Asia Pacific due to the availability of research funding, a large patient demographic, a rising number of obese, and the involvement of developing economies such as France, Italy, and Germany in the region. For the past few years, Europe has led the regional industry in terms of sales. The reasons that can be attributed to its largest share are the large affected population, well-established healthcare system, and increasing R&D initiatives for the production of novel drugs. In Europe, the H1N1 influenza pandemic led in 2009 to a spike in sleep-related disorders.
It is projected that the Asia Pacific is the fastest developing region in the global narcolepsy market. On the other hand, Asia Pacific is expected to experience lucrative growth over the projected period due to economic progress, increasing recognition among people, high disposable income, rising investment in the pharmaceutical & biotechnology industries, and supporting government initiatives. The existence within the area of emerging economies such as India and China, and the expansion of the healthcare sector, promote regional market growth. Additionally, supportive government policies are stimulating growth in the narcolepsy industry. Japan is classified as one of the highly prevalent regions of the Asia Pacific narcolepsy market. In addition, The booming generics sector and the upgrade of healthcare services are likely to drive more demand growth in the immediate future. However, a large number of undiagnosed cases in this area continue to be a significant concern for this market’s growth.
The Middle East & Africa has the least share of the international market for narcolepsy. Factors such as the prevalence of depressed economies and strict government policies in the African region, in particular, make the demand lagging within the region. The Middle East holds a large market share in the Middle & Africa region. The involvement of developing economies such as Saudi Arabia, Kuwait may attribute this to a massive healthcare expense within the region.
Narcolepsy Market Competitive Dashboard
BIOPROJET (Paris), Arena Pharmaceuticals, Inc. (U.S.), Teva Pharmaceutical Industries Ltd. (Israel), Shionogi Inc. (U.S.), Novartis AG (Switzerland), Shire (Republic of Ireland), Mylan N.V. (U.S.), Ligand Pharmaceuticals, Inc. (U.S.), Graymark Healthcare, Inc. (U.S.), Jazz Pharmaceuticals plc (Republic of Ireland), and others.
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