Narcolepsy is a rare condition, which is often under diagnosed.
The condition is characterized by excessive sleepiness, hallucination, sleep
paralysis, excessive day time sleepiness, cataplexy, and automatic behaviors.
Narcolepsy is caused due to lack of brain chemical known as orexin which
regulates sleep. Several other factors can trigger narcolepsy such as menopause
and puberty. The condition is rare and is estimated to affect more than 1 in
2000 people in the U.S. The condition does not have any cure, but drugs can
improve the symptoms and bring about changes in lifestyle.
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The global
narcolepsy treatment market is expect to expand at a moderate CAGR during
the forecast period. Increase in awareness about sleep disorders, rise in
prevalence of these disorders due to unhealthy lifestyle, and surge in stress
levels are the major factors anticipated to drive the global narcolepsy treatment
market during the forecast period. Increase in demand for advanced therapies
for sleeping disorders, extensive efforts of government and non-governmental
organizations for spreading awareness about the disease, rise in R&D
activities to find a cure for narcolepsy are the other factors expected to
propel the global market. Moreover, rise in health care expenditure and
reimbursement policies fuel the growth of the global narcolepsy treatment
market during the forecast period. However, lack of awareness among patients
and health care providers about the disease in developing countries are likely
to restrain the global narcolepsy market during the forecast period.
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The global narcolepsy treatment market can be segmented based on
drug class, narcolepsy type, end-user, and region. In terms of drug class, the
market can be classified into vasopressors, CNS stimulants, decongestants,
serotonin reuptake inhibitors, and miscellaneous. Sodium Oxybate in the
miscellaneous segment is expected to account for a significant share of the
global market during the forecast period due to favorable reimbursement
policies. Based on narcolepsy type, the global narcolepsy treatment market can
be bifurcated into narcolepsy type 1 and 2. In terms of end-user, the market
can be divided into drug stores, retail pharmacies, and e-commerce.
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The global narcolepsy treatment market is expected to grow at a
significant pace across all regions. Geographically, the global market can be
segmented into North America, Latin America, Europe, Asia Pacific, and Middle
East & Africa. North America dominated the global market in 2016 and is
expected to continue its dominance during the forecast period. Increase in
awareness towards narcolepsy treatment, prevalence of unhealthy lifestyle etc.
are few of the major factor driving the growth of market in the region.
Furthermore, advanced technology, rise in awareness among people about
diagnosis of the disease, and high health care expenditure boost the growth of
the narcolepsy treatment market in North America. Europe is also anticipated to
account for a significant share of the global market due to increase in R&D
activities and well-established health care infrastructure. The market in Asia
Pacific is anticipated to expand at a faster growth rate during the forecast
period. Asia Pacific is the most lucrative market due to rise in disposable
income, adoption of health care solutions for better standard of life, rise in
awareness about health, prevalence of lifestyle related diseases, surge in
investment in pharmaceuticals and biotechnology sectors, and high prevalence of
narcolepsy in countries such as Japan.
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Key players have adopted strategies such as extensive R&D,
mergers, cost-effective drugs, collaborative partnerships, and approval from
regulatory authorities to capture leadership position in the global narcolepsy
treatment market. For instance, Jazz Pharmaceuticals’ Xyrem is the only U.S.
FDA-approved drug used for cataplexy. Prominent players operating in the global
narcolepsy treatment market are Jazz Pharmaceuticals plc, Bioprojet, Arena
Pharmaceuticals, Inc., and Graymark Healthcare, Inc., among others.
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