Narcolepsy Therapeutics Market To Reach $6.01 Billion By 2030

Narcolepsy Therapeutics Market Growth & Trends

The global narcolepsy therapeutics market size is expected to reach USD 6.01 billion by 2030, growing at a CAGR of 7.85% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing awareness about this sleep disorder among the public and healthcare providers is a key factor contributing to the market growth. Government and non-government bodies are conducting awareness programs and campaigns to educate people and healthcare professionals to manage the disease globally.

High unmet requirement for disease treatment is encouraging market players to develop and introduce novel therapeutic products in the market. Market players have invested significantly in understanding narcolepsy in recent years. Therefore, the approval of new effective drugs such as Wakix and Lumryz is expected to drive market growth. Moreover, special designations grants for pipeline drugs are further motivating pharmaceutical companies to invest in the development of novel drugs. For instance, Axsome Therapeutics, Inc. has AXS-12 in a phase-3 clinical study. It is being investigated for sleep disorders, both cataplexy and EDS. Moreover, AXS-12 received the U.S. FDA Orphan Drug designation for the treatment.

The landscape of treatment for the disease is expected to evolve rapidly. According to the American Journal of Managed Care, technological advancements in drug development processes are making neurological diseases an attractive therapeutic area for drug manufacturers. Hence, an increase in R&D activities related to the disease is anticipated over the forecast period. For instance, in April 2023, Zevra Therapeutics, Inc. submitted an Investigational New Drug (IND) application to the U.S. FDA to initiate a phase-1 clinical trial of KP1077 in narcolepsy.

The Narcolepsy Network has estimated that 1 out of every 2,000 people is afflicted by this condition. Moreover, Narcolepsy UK states that approximately 25% of patients are identified and the remaining 75% are untreated as they remain undiagnosed or are misdiagnosed, which is alarming. Some organizations and networks are constantly working to spread awareness about this condition among patients and physicians.

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Narcolepsy Therapeutics Market Report Highlights

• The narcolepsy therapeutics industry is anticipated to grow substantially owing to the worldwide increasing incidence of this disorder and increasing awareness among people

• Based on treatment, the narcolepsy with cataplexy segment held the largest revenue share of 54.28% in 2022. It is expected to dominate the market throughout the forecast period owing to the rising cases of cataplexy in patients suffering from narcolepsy

• Based on product, sodium oxybate dominated the product segment in terms of revenue share of 46.70% in the year 2022. Drugs belonging to this class have higher costs and favorable coverage policies

• In terms of region, North America dominated the market with a revenue share of 38.03% in 2022 because of increased R&D programs, improved healthcare infrastructure, and better reimbursement policies

• The Asia Pacific region is anticipated to exhibit the fastest CAGR of 10.37% during the forecast period owing to the rising healthcare expenditure in this region, rising awareness among people, increasing prevalence of disease, and presence of emerging economies such as China & India

• New product launches and mergers & acquisitions are strategic initiatives undertaken by key players in the market in an attempt to remain competitive. In addition, companies are expanding their geographical presence to untapped markets

Narcolepsy Therapeutics Market Segmentation

Grand View Research has segmented the global narcolepsy therapeutics market based on treatment, product, and region:

Narcolepsy Therapeutics Treatment Outlook (Revenue, USD Billion, 2018 - 2030)

• Narcolepsy With Cataplexy

• Narcolepsy Without Cataplexy

• Secondary Narcolepsy

Narcolepsy Therapeutics Product Outlook (Revenue, USD Billion, 2018 - 2030)

• Central Nervous System Stimulants

• Sodium Oxybate

• Selective Serotonin Reuptake Inhibitor

• Tricyclic Antidepressants

• Others

Narcolepsy Therapeutics Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players in the Narcolepsy Therapeutics Market

• Teva Pharmaceutical Industries Ltd.

• Jazz Pharmaceuticals, Inc.

• Harmony Biosciences

• Novartis AG

• Rhodes Pharmaceuticals L.P.

• Janssen Global Services, LLC

• Eli Lilly and Company