U.S (New York) – Report Ocean has recently published a comprehensive research report titled “Narcolepsy Drugs Market ” Research Report 2023-2031. This report delves deep into the market and offers valuable insights into (Key Market Trends, Emerging Technologies, Market Drivers and Challenges of the Industry, Regulatory Policies), company profiles of key players, and their strategies. With over 100+ market data tables, pie charts, graphs, and figures, this global market study is now available. The report provides a thorough evaluation of the market, (Encompassing Future Trends, Current Growth Factors, Expert Opinions, Factual Information), and industry-validated market data, with a forecast extending until 2031.
The global narcolepsy drugs market accounted for around $2,429 million in 2018, and is expected to reach $5,360 million by 2026, registering a CAGR of 10.3% from 2019 to 2026. Narcolepsy is characterized by several symptoms that include cataplexy, excessive daytime sleepiness, hallucinations, and sleep paralysis. In addition, patients suffering from narcolepsy experience automatic behaviors such as eating, walking, or driving, in a dazed manner. Symptoms differ from patient to patient, and are diagnosed between the ages of 7 and 25.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
Although narcolepsy is a rare and underdiagnosed chronic condition, many cases have been reported of the people affected by this disease. It was estimated that more than 1 in 2,000 people in the U.S. were affected by narcolepsy in 2012. Increase in severity of the disease and rise in the number of people being affected by narcolepsy are some of the key driving factors of the market. Furthermore, the availability of reimbursement for FDA-approved prescription medicines is expected to fuel the demand for these drugs. However, lack of awareness regarding the diagnosis and treatment availability hinders the market growth. Conversely, increase in the number of programs by various organizations to spread awareness regarding the importance of early narcolepsy diagnosis is anticipated to offer lucrative opportunities for market expansion.
The global narcolepsy drugs market is segmented based on disease type, therapeutics type, and geography. Depending on disease type, the market is categorized into daytime extreme sleepiness, cataplexia, and others. By therapeutics type, it is segregated into central nervous system stimulants, tricyclic antidepressants, sodium oxybate, selective serotonin reuptake inhibitor, and others. Region wise, the market is examined across North America, Europe, Asia-Pacific, and LAMEA.
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KEY BENEFITS FOR STAKEHOLDERS
? This report highlights the market dynamics to understand the global narcolepsy drugs market and capitalize on the prevailing opportunities.
? Quantitative analysis of the current market and forecasts assists stakeholders to design business strategies accordingly.
? Porter’s five forces analysis examines the competitive market structure and provides a deeper understanding of the influencing factors for entry and expansion.
? Pin-point analysis of geographical segments offers identification of most profitable segments to capitalize on.
KEY MARKET PLAYERS
> Ligand Pharmaceuticals
> Addrenex Pharmaceuticals
> Shire Plc.
> Teva Pharmaceutical Industries Ltd.
> Arena Pharmaceuticals
> Jazz Pharmaceuticals Plc.
> Bioprojet
> Graymark Healthcare, Inc.
KEY MARKET SEGMENTS
> By Disease Type
o Daytime Extreme Sleepiness
o Cataplexia
o Others
> By Therapeutics Type
o Central Nervous System Stimulants
o Tricyclic Antidepressants
o Sodium Oxybate
o Selective Serotonin Reuptake Inhibitor
o Others
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> By Region
o North America
> U.S.
> Canada
> Mexico
o Europe
> Germany
> France
> Spain
> Italy
> UK
> Rest of Europe
o Asia-Pacific
> Australia
> Japan
> India
> China
> Rest of Asia-Pacific
o LAMEA
> Brazil
> Saudi Arabia
> South Africa
> Rest of LAMEA
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