Global Narcolepsy Therapeutics Market - 2023-2030

Market Overview

The Global Narcolepsy Therapeutics Market reached US$ 2.8 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 5.9 billion by 2030. The narcolepsy therapeutics market is expected to exhibit a CAGR of 9.7% during the forecast period (2023-2030).

The narcolepsy therapeutics market is a specialized segment within the broader pharmaceutical industry that focuses on treating narcolepsy, a chronic neurological disorder characterized by excessive daytime sleepiness and other related symptoms. Key market players are investing in research and development activities to develop novel therapies.

The narcolepsy therapeutics market is driven by factors such as the increasing prevalence of narcolepsy, increasing research and development activities on narcolepsy therapeutics, increasing awareness about various treatment options, rising stress levels, technological advancements in therapeutics, and advancements in diagnostic techniques.

Market Dynamics

Increasing Research and Development Activities

The increasing research and development activities on narcolepsy therapeutics are the major factor expected to drive the market. Research and development efforts focus on identifying and exploring novel therapeutic targets in the treatment of narcolepsy. This includes studying the disorder's underlying mechanisms and identifying new intervention pathways.

For instance, in May 2023, Avadel Pharmaceuticals plc, a biopharmaceutical company announced the final FDA approval and receipt of Orphan Drug Exclusivity for LUMRYZ, the first and only once-at-bedtime oxybate therapy for the treatment of cataplexy or EDS in adults with narcolepsy. The receipt of Orphan Drug Exclusivity recognizes the clinically superior benefit of a once-at-bedtime treatment option over existing twice nightly oxybates, said Greg Divis, Chief Executive Officer of Avadel Pharmaceuticals.

Increasing Awareness About Various Treatment Options

The increasing awareness about various treatment options is also a major factor expected to drive the market. Awareness programs educate patients about the importance of adhering to prescribed treatments. Patients who are aware of the potential benefits and risks of treatment are more likely to comply with therapy, leading to better symptom control and improved overall response.

Awareness initiatives are not only targeted at patients but also aim to educate healthcare professionals. By improving their knowledge about the latest treatment options and guidelines, healthcare providers can offer more accurate diagnoses, tailored treatment plans, and enhanced support to patients.

For instance, in March 2023, A Sudbury teen is drawing attention to her recent diagnosis of narcolepsy as a way to raise awareness about the disorder. Mia Grisco, 16, and her parents hosted a fundraiser at their Sudbury to spotlight narcolepsy.

Limited Treatment Options

Limited treatment options for narcolepsy is a major factor expected to hamper the market growth. Currently, the available treatment options for narcolepsy are limited and mainly focus on managing symptoms rather than providing a cure. The primary treatment approach involves the use of central nervous system stimulants, such as modafinil and armodafinil, to alleviate excessive daytime sleepiness.

While therapeutic options exist for managing excessive daytime sleepiness and cataplexy, there is a need for more targeted treatments addressing other narcolepsy symptoms such as hallucinations and sleep paralysis. Limited treatment options for specific symptoms can restrict the market growth.

COVID-19 Impact Analysis

The COVID-19 pandemic has had a profound impact on the healthcare industry, including the narcolepsy therapeutics market. The pandemic caused disruptions in global supply chains, including the pharmaceutical industry. Manufacturing and distribution of narcolepsy medications may have been impacted, leading to potential shortages or delays in availability.

To reduce the spread of the virus, healthcare services underwent significant changes. Telemedicine and remote consultations became more prevalent, which may have affected the way narcolepsy patients received care, including prescription refills and monitoring. Healthcare systems and resources were redirected towards managing the immediate crisis of COVID-19. This shift in priorities may have impacted the allocation of resources and investments in narcolepsy research and development.

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict has had a significant impact on the narcolepsy therapeutics market. Clinical trials for narcolepsy therapeutics that involve sites or participants in Russia or Ukraine may face disruptions due to the conflict. Delays or interruptions in clinical trials could impact the timeline for the development and availability of new treatment options globally.

Changes in regulations or uncertainties in either Russia or Ukraine due to the conflict could impact the approval processes and market access for narcolepsy therapeutics. Regulatory harmonization and alignment may be affected, potentially impacting the introduction of new therapies or generic alternatives.

Segment Analysis

The global narcolepsy therapeutics market is segmented based on disease type, therapeutic type, and region.

Based On Therapeutic Type, the Central Nervous System Stimulants Segment is Expected to Dominate the Market Share

The market for CNS stimulants holds 29.1% of the global narcolepsy therapeutics market share in 2022. CNS stimulants have been widely used for the management of narcolepsy for many years. They have a well-established track record and are considered the first-line treatment option for excessive daytime sleepiness in narcolepsy patients.

Many patients with narcolepsy report positive experiences with CNS stimulants, noting improved wakefulness and enhanced cognitive function. Their effectiveness in combating sleepiness contributes to their popularity and patient preference. ome CNS stimulants have generic versions available in the market. Generic alternatives offer cost-saving opportunities for patients and healthcare systems, making them a favorable choice for treatment.

Geographical Analysis

North America Holds the Largest Market Share Due to the Increased Awareness and Favorable Reimbursement Policies

North America holds the 38.7% market share for the narcolepsy therapeutics market in 2022 due to increased awareness and favorable reimbursement policies. North America has well-established healthcare systems with favorable reimbursement policies for narcolepsy treatment. Insurance coverage and reimbursement options make it easier for patients to access and afford medications and other therapies, thereby boosting market growth.

North America has a strong focus on research and development in the healthcare sector, including narcolepsy therapeutics. Ongoing R&D efforts lead to the introduction of new treatment options and drive market growth. The increased awareness about narcolepsy in the region is also a major factor

Competitive Landscape

The major global players in the market include: Jazz Pharmaceuticals, Takeda Pharmaceutical Company, Teva Pharmaceutical Industries Ltd., Avadel Pharmaceuticals Inc., Bioprojet, Graymark Healthcare, Ligand Pharmaceuticals Inc., Novartis AG, XWPharma Ltd., and Shionogi Inc.

Why Purchase the Report?

• To visualize the global narcolepsy therapeutics market segmentation based on disease type, therapeutic type, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of narcolepsy therapeutics market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global narcolepsy therapeutics market report would provide approximately 54 tables, 46 figures, and 195 pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies