The new report by Expert Market Research titled, ‘Global Narcolepsy Drugs Market Share, Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global narcolepsy drugs market, assessing the market based on its segments like diseases type, therapeutic type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2020): USD 2.7 Billion
• Forecast CAGR (2023-2028): 10.4%
• Forecast Market Size (2026): USD 5.9 Billion
The rising prevalence of narcoleptic diseases around the world, rising stress levels, a growing geriatric population, and increased understanding about the many treatment choices for this illness are all likely to drive the market forward.
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The increased number of persons suffering from a variety of narcoleptic illnesses, such as hallucinations, sleep paralysis, interrupted nocturnal sleep, and obesity, has drew the attention of governments all over the world, prompting them to act. Various networks, including as the National Center for Sleep Disorders Research, organise awareness campaigns to address the needs of people with serious or mild narcoleptic diseases. Market approvals and commercialisation of new pharmaceuticals may also play a key role in driving market expansion in the next years. The growing presence of reimbursement policies is the major factor that is accelerating the growth of the global narcolepsy drugs industry.
Narcolepsy Drugs Industry Definition and Major Segments
Narcolepsy is a sleep disorder in which the brain’s capacity to govern sleep-wake cycles is impaired. It is characterised by extreme tiredness during the day and sleep crises that come on suddenly. Narcolepsy makes it difficult for people to stay awake for lengthy periods of time and makes them sleepy for most of the day.
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By diseases type, the market includes:
Daytime Extreme Sleepiness
The industry is broadly categorised based on its therapeutic types into:
Central Nervous System Stimulants
Selective Serotonin Reuptake Inhibitor
On the basis of region, the industry is divided into:
Middle East and Africa
Narcolepsy Drugs Market Trends
The narcolepsy drugs market is projected to be propelled by increased awareness of the number of chronic conditions among the public and the government. The narcolepsy drugs industry is being driven by the rapidly advancing technology, increasing investment in the research and development sector by leading pharmaceutical companies, and the rising awareness regarding narcolepsy and its treatment among people. The rising disposable incomes, growing investments in the pharmaceutical and biotechnology sectors, and increased health care spending by governments, particularly in developing countries, is expected to aid the narcolepsy drugs market over the forecast period. This is attributed to an increase in research and development activities and numerous collaborations between academic and commercial organisations in this region. An increase in the acquisition, product launch, and product approval by key players of this market fuels the growth of the market.
Key Market Players
The major players in the market areHaworth Inc., Herman Miller Inc., Kinnarps Ab, Knoll Inc., Steelcase Inc., and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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