Narcolepsy Market Industry Trends And Emerging Opportunities Till 2033
Global narcolepsy market size is expected to reach $5.57 Bn by 2028 at a rate of 11.8%, segmented as by type, type 1, type 2
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Overview and Scope
The narcolepsy market consists of revenues earned by entities by providing services such as cognitive behavioral therapy, telemedicine consultations, lifestyle management programs, and patient education programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The narcolepsy market also includes sales of dietary supplements, Pitolisant, Modafinil, and Armodafinil. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The narcolepsy market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.56 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to increased awareness of narcolepsy, the development, and improvement of diagnostic tools, the introduction of new pharmacological treatments, research and development investments, and enhanced patient education initiatives.
The narcolepsy market size is expected to see rapid growth in the next few years. It will grow to $5.57 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to the rising prevalence of sleep disorders, improved healthcare infrastructure, supportive government policies, an increasing geriatric population, and rising consumer health awareness. Major trends in the forecast period include advancements in genetic research, technological innovations in diagnostics, the introduction of novel drugs and treatment modalities, strategic collaborations and partnerships between key market players, and digital health tools and telemedicine.
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Segmentation & Regional Insights
The narcolepsy market covered in this report is segmented –
1) By Type: Type 1, Type 2
2) By Treatment: Antidepressants, Stimulants, Sodium Oxybate, Other Treatments
3) By Diagnosis: Poysomnogram, Multiple Sleep Latency Test
4) By End Users: Hospitals, Retail Pharmacies, Other End Users
North America was the largest region in the narcolepsy market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the narcolepsy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing number of obese people is expected to propel the growth of the narcolepsy market going forward. Obesity is a medical condition characterized by an excessive accumulation of body fat, which poses a health risk. The number of obese people is rising due to increasingly sedentary lifestyles, poor dietary habits, and environmental factors that promote calorie-dense food consumption and reduce physical activity. Obesity can contribute to narcolepsy by disrupting metabolic and hormonal balances, potentially leading to changes in sleep patterns and the regulation of wakefulness. For instance, in March 2022, according to the World Health Organization, a Switzerland-based specialized United Nations agency responsible for worldwide public health, around 1 billion individuals, comprising 650 million adults, 340 million teenagers, and 39 million children, were classified as obese, with this figure continuing to rise. Projections indicate that by 2025, approximately 167 million adults and children will suffer health consequences due to excess weight. Therefore, the growing number of obese people is driving the growth of the narcolepsy market.
Key Industry Players
Major companies operating in the narcolepsy market are Pfizer Inc., Merck & Co. Inc, Novartis AG, Takeda Pharmaceutical Company Limited, Viatris Inc, Teva Pharmaceutical Industries, Otsuka Pharmaceutical, Sumitomo Pharma Company Limited, Jazz Pharmaceuticals, Ono Pharmaceutical Co. Ltd, Lupin Pharmaceuticals, Alkermes, Harmony Biosciences, Arena Pharmaceuticals, Cerevel Therapeutics, Axsome Therapeutics Inc., Avadel Pharmaceuticals, NLS Pharmaceutics AG, KemPharm, Suven Life Sciences Ltd
The narcolepsy market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
……..
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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