Narcolepsy Market Size Analysis with USD 4.53 Billion by 2027

Narcolepsy is known to occur equally among men and women, and the global incidence of narcolepsy is estimated to be roughly 1 in 2,000 people. People with narcolepsy feel very sleepy during the day and may involuntarily fall asleep during normal activities. Narcolepsy is a rare long-term brain disorder characterized by excessive sleepiness, sleep paralysis, hallucinations, and episodes of cataplexy among certain patients. Furthermore, narcolepsy is characterized by excessive drowsiness and sleep episodes. Narcolepsy makes it difficult for people to stay awake for lengthy periods of time and makes them sleepy for most of the day.

The narcolepsy market size is estimated to reach US$ 4,537.9 million by 2027 from US$ 2,026.8 million in 2018; it is estimated to grow at a CAGR of 9.5% during 2019-2027.

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Strategic Insights:

Product launches and approvals are commonly adopted strategies by companies to expand their global footprints and product portfolios. Moreover, the players focus on the partnership strategy to enlarge their clientele, which, in turn, permits them to maintain their brand name across the world. The market share is anticipated to flourish with the development of new innovative products by market players. Some of the market participants offering products are Teva Pharmaceutical Industries Ltd; Jazz Pharmaceuticals plc; Arena Pharmaceuticals, Inc; Graymark Healthcare, Inc; Novartis AG; Takeda Pharmaceutical Company Limited; Mylan N.V.; BIOPROJET; Shionogi & Co., Ltd; and Ligand Pharmaceuticals, Inc.

Rising Prevalence of Sleep-Related Neurological Disorders Drives Narcolepsy Market

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 are expected to increase in the coming years, as a large portion of the population will enter old age. According to the National Institute of Health (NIH), approximately 40 million Americans suffer from neurological diseases in the US and 20 million people experience occasional sleeping problems.

Over the last decades, much has been learned 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 US, i.e., 200,000 Americans and approximately 3 million worldwide. Moreover, the American Sleep Apnea Association reports that sleep-related problems affect 50-70 million Americans of all ages and socioeconomic classes. However, important disparities in the 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 20-30 million suffer from intermittent sleep problems each year.

People with narcolepsy suffer from chronic daytime sleepiness and episodes in which they fall asleep unexpectedly during the day. These "sleep attacks" can occur at any time, during any activity. Sleep attacks are not limited to periods of dull or low engagement activities, but can happen during school or work hours, in the middle of a conversation, while eating, while exercising or playing sports, or even while driving. Thus, the surge in the prevalence of sleep-related neurological disorders is likely to propel the narcolepsy market's trends forward during the forecast period.

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