Global Narcolepsy Drugs Market Research Report 2024: Pipeline Analysis, Key Company Profiles and Recent Developments 2023-2030 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Narcolepsy Drugs Market (By Therapeutic Type, Disease Type, End User, Regional Analysis), Pipeline Analysis, Key Company Profiles and Recent Developments – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global narcolepsy drugs market was valued at US$ 3,596 Million in 2023 and is projected to reach US$ 6,138 Million by 2030.

According to the National Institute of Neurological Disorders and Stroke (NINDS) estimates, narcolepsy affects over 3 million people globally and about 135,000 to 200,000 people in the United States. The growing stress levels among individuals, and an upsurge in intake of alcohol, tobacco, and other dangerous addictive substances are likely to raise the number of patients with narcolepsy disorders.

Narcolepsy is a lifelong condition that cannot be cured, but medicines and lifestyle changes can help in managing the symptoms. Narcolepsy is currently treated with sodium oxybate, central nervous system stimulants, selective serotonin reuptake inhibitors (SSRIs), and other antidepressants, but these therapeutics only provide symptomatic treatment.

The global narcolepsy drugs market has witnessed significant growth in recent years owing to the rising prevalence of narcolepsy and increased awareness about the condition. The market is driven by the increasing demand for effective treatment options that can alleviate narcolepsy symptoms and improve the quality of life for affected individuals.

Pharmaceutical companies such as Jazz Pharmaceuticals, Takeda Pharmaceuticals, Teva Pharmaceuticals, Axsome Therapeutics Inc., NLS Pharmaceutics, and other companies are actively involved in research and development activities to introduce novel and more efficient drugs in the market. Moreover, governments in countries such as India, China, and South Africa are promoting the manufacturing of narcolepsy drugs due to the associated health benefits, which are projected to fuel the narcolepsy drugs market over the forecast period.

The increasing awareness programs conducted by various organizations such as Wake Up Narcolepsy, the American Academy of Sleep Medicine, Narcolepsy UK, Narcolepsy Australia, and many others are increasing awareness levels about the disease and guiding people and healthcare professionals to improve the quality of life of patients with narcolepsy.

Recent Developments

• In July 2023, the U.S. FDA conducted a comprehensive review of NLS Pharmaceutics’ research protocol, particularly focusing on the potential of Mazindol ER as a therapeutic solution for narcolepsy. This review is a part of the ongoing AMAZE program, highlighting the commitment to finding effective treatments for this condition.
• In May 2023, Avadel Pharmaceuticals received final U.S. FDA approval for its drug Lumryz, an extended-release formulation of sodium oxybate indicated to be taken once at bedtime for the treatment of cataplexy or excessive daytime sleepiness (EDS) in adults with narcolepsy.
• In March 2023, the European Medicines Agency granted an extension of the indication for the marketing authorization for WAKIX (pitolisant), which is now indicated for the treatment of narcolepsy in children from the age of 6 years, with or without cataplexy.
• In January 2023, Hikma Pharmaceuticals PLC announced that it has launched an authorized generic version of Jazz Pharmaceuticals’ Xyrem (sodium oxybate) oral solution CIII in the U.S.

By Therapeutic Type: Global Narcolepsy Drugs Market and Forecast – Key Takeaways

• Sodium oxybate segment dominates the global narcolepsy drugs market owing to its widespread usage in treating narcolepsy symptoms such as excessive daytime sleepiness and cataplexy. Sodium oxybate medications, such as Xyrem, have been widely prescribed and have demonstrated significant efficacy in managing these symptoms, leading to their dominant market position.
• Central nervous system stimulants held the second-largest share of the market in 2023. The increasing R&D activities related to CNS stimulants for patients with rare neurological diseases are expected to fuel segment growth.
• The tricyclic antidepressants segment is anticipated to demonstrate the highest growth over the forecast period.

By Disease Type: Global Narcolepsy Drugs Market and Forecast – Key Takeaways

• The excessive daytime sleepiness (EDS) segment dominates the global market for narcolepsy drugs in 2023. The demand for drugs that effectively manage excessive daytime sleepiness remains high, prompting ongoing research into improved treatment options.
• The cataplexia segment is projected to register the highest growth over the forecast period, owing to the increasing adoption of novel drugs such as WAKIX and Xywav for disease treatment. Cataplexy is one of the most dangerous symptoms associated with narcolepsy, characterized by a sudden loss of muscle tone often triggered by sudden, strong emotional experiences. Innovative treatment options targeting cataplexy are being developed to address this challenging symptom, fueling the segment’s growth.

By End User: Global Narcolepsy Drugs Market and Forecast – Key Takeaways

• The hospital segment dominates the global market for narcolepsy drugs, owing to the growing demand for specialized diagnostic services, sleep studies, and comprehensive care provided by hospital-based sleep centers.
• The diagnostics centers segment is projected to register the highest growth over the forecast period owing to increased adoption of advanced technology, improved infrastructure, and substantial funding for these centers’ expansion.

By Region: Global Narcolepsy Drugs Market and Forecast – Key Takeaways

• North America dominated the global narcolepsy drugs market in 2023 and will continue to maintain its dominance over the forecast period, owing to the increasing prevalence of narcoleptic disorders, advanced healthcare system, growing investments in research and development, rising awareness levels pertaining to diagnosis & associated treatments, and the introduction of novel therapeutic products.
• Europe is the second largest market for narcolepsy drugs, driven by the high discretionary income and growing consciousness regarding the advantages of narcolepsy drugs in European countries.
• Asia Pacific is likely to witness the fastest growth over the forecast period, owing to the presence of a large patient pool suffering from narcolepsy diseases, rising awareness among people, growing investments in pharmaceutical & biotechnology sectors, and supportive government initiatives.
• Latin America and Middle East & Africa are competing closely to grab the maximum share of the global narcolepsy drugs market.

Global Narcolepsy Drugs Market – Key Company Profiles, Recent Developments, Financial Insights

• Avadel Pharmaceuticals plc
• Axsome Therapeutics Inc.
• Harmony Biosciences Holdings Inc.
• Hikma Pharmaceuticals Plc
• Jazz Pharmaceuticals Plc
• Johnson & Johnson
• Ligand Pharmaceuticals Inc.
• Novartis AG
• Takeda Pharmaceutical Company Limited
• Teva Pharmaceutical Industries Limited

For more information about this report visit https://www.researchandmarkets.com/r/neflaw

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