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Narcolepsy Market comprehensive Analysis 2019On Key Companies: Bioprojet, Teva Pharmaceutical Industries Ltd, Jazz Pharmaceuticals, Graymark Healthcare, Arena Pharmaceuticals, Shire

09-11-2019 09:02 AM CET | Health & Medicine

Press release from: Theinsightpartners.com

Narcolepsy Market

Narcolepsy Market

Market Growth Analysis:-

The global narcolepsy market accounted to US$ 2,026.8 Mn in 2018 and is expected to grow at a CAGR of 9.5% during the forecast period 2019 – 2027, to account to US$ 4,537.9 Mn by 2027.

The Asia Pacific narcolepsy market is expected to grow at highest rate during the forecast period owing higher number of research & development and increasing investments on sleep related neurological disorders. In addition, emergence of new local players with competitive drug portfolio are expected to fuel the market growth in Asia Pacific region.

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Major Companies In Narcolepsy Market:

• Bioprojet
• Teva Pharmaceutical Industries Ltd.
• Jazz Pharmaceuticals, Inc.
• Graymark Healthcare, Inc.
• Arena Pharmaceuticals, Inc.
• Shire (Acquired by Takeda)
• Ligand Pharmaceuticals, Inc.
• Novartis AG, Mylan N.V.
• Shionogi Inc.

Strategic Insights:

Strategic acquisition and product launches were observed as the most adopted strategy in global narcolepsy industry. Few of the recent product launch and acquisitions are listed below:

2018: Jazz Pharmaceuticals announced FDA approval of Xyrem (sodium oxybate) for the treatment of cataplexy or excessive daytime sleepiness in pediatric narcolepsy patients

2019: Takeda Pharmaceutical Company Limited acquired Shire plc to expand its geographic footprint and leading position in Japan and the U.S.

2018: Jazz Pharmaceuticals announced FDA acceptance of supplemental new drug application for Xyrem (sodium oxybate) to treat cataplexy and excessive daytime sleepiness in pediatric narcolepsy patients

Market Insights

Rising prevalence of sleep related neurological disorders is expected to boost the market growth over the years

The range of sleep disorders that are treated by neurologists is wide and includes conditions such as insomnia, sleep apnea, restless legs syndrome, and narcolepsy. These disorders cause disruptions in the normal sleep-wake mechanisms causing endogenous abnormalities. Neurological sleep related disorders is an emerging problem as the population is ageing at a rapid rate. According to the National Institute of Health (NIH), approximately 40 million Americans suffer from neurological diseases in the US, whereas additional 20 million people experience occasional sleeping problems. Over the last decades, much has been learnt about the pathophysiology of narcolepsy. According to the National Center for Biotechnology Information, the prevalence of narcolepsy with cataplexy has been examined in many studies and falls between 25 and 50 per 100,000 people.

Moreover, according to the Narcolepsy Network 2017, the condition affects 1 in every 2,000 people in the United States. That’s 200,000 Americans and approximately 3 million worldwide. Moreover, the American Sleep Apnea Association reports that sleep-related problems affect 50 to 70 million Americans of all ages and socioeconomic classes. Sleep disorders are common in both men and women; however, important disparities in prevalence and severity of certain sleep disorders have been identified in minorities and underserved populations. More than 50 million Americans already suffer from over 80 different sleep disorders and another 20 to 30 million suffer intermittent sleep problems each year. The increasing prevalence of neurological sleep disorders and narcolepsy is likely to foster the growth of market in the coming years.

Increasing Awareness Regarding Neurological Disorders

The relationship between public health and neurology was not been adequately explored until recent years. The burden of neurological disorders have increased significantly across the world. These disorders are estimated to affect over a billion population worldwide, according to the World Health Organization by 2016. Neurological disorders are commonly found among all the age groups, in all geographic populations. Similarly, sleep related neurological disorders that comprise a large group of diseases also affect a substantial population worldwide. These diseases majorly includes insomnia, sleep apnea, narcolepsy and others.

However, in the recent years, several measures have been undertaken so as to generate awareness and educate the population regarding these diseases, which is likely to propagate patients from accessing the available medications and treatments for these conditions. According to National Center for Biotechnology Information 2017, clinician and public awareness of various sleep disorders with the intent of increasing rates of recognition and treatment. The increasing awareness in patients and initiatives undertaken by non-profit parties is expected to outreach a large patient population regarding the medications available for the disease, thereby favoring the market growth.

Type Insights:

The narcolepsy market by type is segmented into narcolepsy with cataplexy, narcolepsy without cataplexy, and secondary cataplexy. In 2018, the narcolepsy with cataplexy segment held a largest market share of 65.1% of the narcolepsy market, by type. This segment is also expected to dominate the market in 2027 owing to its significant prevalence among patients suffering with narcolepsy. Episodes of cataplexy are reported to be encountered among 55-60% of patients suffering with narcolepsy. Moreover, the similar segment is anticipated to also witness the fastest growth rate of 9.7% during the forecast period, 2019 to 2027 owing to the increasing demand for drugs to treat the disease.

Product Insights:

The global narcolepsy market on the basis of product is segmented into sodium oxybate, central nervous system (CNS) stimulants, and antidepressants. Sodium oxybate segment is anticipated to grow at a CAGR of 9.8% during the forecast period. Sodium oxybate is the one of the primary medication recommended by specialists to patients suffering with narcolepsy. The high cost of the branded counterparts, availability of reimbursement with certain regions as well as approval of the drug in majority of the top markets is likely to contribute to the growth and dominance of the segment. Sodium is oxybate is also expected to exhibit highest growth witnessing a robust CAGR over the forecast years.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.

We are committed to providing highest quality research and consulting services to our customers. We help our clients understand key market trends, identify opportunities, and make informed decisions by providing market research solutions at an affordable cost.

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