Number of pages: 100 | Report Format: PDF | Published date: June 20, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 2.04 billion |
Revenue Forecast in 2031 |
US$ 4.73 billion |
CAGR |
9.79% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Type, Drug Class, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global narcolepsy drugs market was valued at US$ 2.04 billion in 2022 and is expected to register a revenue CAGR of 9.79% to reach US$ 4.73 billion by 2031.
Narcolepsy Drugs Market Fundamentals
Narcolepsy is a chronic neurological disorder characterized by excessive daytime sleepiness, sudden loss of muscle tone (cataplexy), sleep paralysis, and hallucinations. While there is no cure for narcolepsy, several drugs are used to manage its symptoms. Some of the most used drugs for narcolepsy are stimulants, selective serotonin reuptake inhibitors (SSRIs), sodium oxybate, tricyclic antidepressants (TCAs), and antidepressant & stimulant combinations.
Narcolepsy Drugs Market Dynamics
Growing awareness about narcolepsy among healthcare professionals and the public has led to improved diagnosis rates. As more individuals are diagnosed with narcolepsy, there is a greater demand for effective drugs to manage the symptoms, thereby driving market growth. Pharmaceutical companies continue to invest in research and development efforts to discover and develop new drugs for narcolepsy treatment. This includes exploring novel therapeutic targets and formulations to enhance efficacy and minimize side effects. Ongoing research activities contribute to the expansion of the narcolepsy drugs market. The development of innovative drug delivery systems, such as extended-release formulations and transdermal patches, has improved the convenience and effectiveness of narcolepsy medications. These advancements enhance patient compliance and contribute to market growth. Rising healthcare expenditure in many countries has led to improved access to healthcare services, including narcolepsy diagnosis and treatment. As healthcare systems allocate more resources to neurological disorders, the demand for narcolepsy drugs is expected to increase. Technological advancements in sleep monitoring devices and techniques have facilitated a better understanding and diagnosis of sleep disorders, including narcolepsy. This has resulted in increased detection and treatment of narcolepsy cases, leading to a higher demand for narcolepsy drugs. The prevalence of narcolepsy is increasing worldwide, contributing to a larger patient pool. According to the research "Prevalence, incidence, and health care utilization of patients with narcolepsy: a population-representative study," released in January 2022, the early incidence of narcolepsy in Europe is 0.64-1.37 per 100,000. Because of the disorder's high prevalence, there is an increased acceptance of narcolepsy medicines, which is likely to fuel market expansion throughout the projection period. Factors such as genetic predisposition, environmental factors, and improved diagnostic capabilities have led to a greater number of diagnosed cases. This expanding patient population is a significant driver for the narcolepsy drugs market. Favorable regulatory frameworks and guidelines for the development and approval of narcolepsy drugs have encouraged pharmaceutical companies to invest in this therapeutic area. Regulatory support facilitates the introduction of new medications into the market, driving growth and innovation. Healthcare providers and pharmaceutical companies are increasingly adopting a patient-centric approach to narcolepsy management. This includes personalized treatment plans, patient education, and support programs. Such initiatives improve patient outcomes and drive the demand for narcolepsy drugs.
While there are several drugs available for narcolepsy treatment, the options are still relatively limited compared to other therapeutic areas. The effectiveness of existing medications varies among patients, and some individuals may not respond well to the available treatments. This limitation creates a need for more diverse and targeted drug options. Some narcolepsy drugs can have side effects that range from mild to severe. Common side effects include nausea, headache, insomnia, and increased blood pressure. More serious side effects, such as cardiac issues and psychiatric symptoms, can also occur. Safety concerns associated with these medications can affect patient compliance and limit their usage. Adherence to treatment regimens can be challenging for individuals with narcolepsy, particularly for those taking multiple medications or experiencing side effects. Non-adherence or inconsistent compliance with medication can impact the effectiveness of treatment and limit the market growth. The development of new drugs for narcolepsy requires substantial investment in research and clinical trials. The high costs associated with drug development and the uncertainty of success can be deterrents for pharmaceutical companies to invest in this niche market. Additionally, in many developing countries, there may be limited awareness about narcolepsy and inadequate resources for diagnosis and treatment. Lack of access to healthcare services, including specialized sleep clinics and trained healthcare professionals, can pose challenges in managing narcolepsy effectively.
Narcolepsy Drugs Market Ecosystem
The global narcolepsy drugs market has been analyzed from the following perspectives: type, drug class, and region.
Narcolepsy Drugs Market by Type
Based on the type, the global narcolepsy drugs market is segmented into narcolepsy with cataplexy (type 1), narcolepsy without cataplexy (type 2), and secondary narcolepsy.
Narcolepsy without cataplexy (type 2) dominated the global market with the largest revenue share of ~75% in 2022. Narcolepsy without cataplexy, also known as Type 2 narcolepsy, is more prevalent than narcolepsy with cataplexy (Type 1 narcolepsy). Type 2 narcolepsy accounts for a larger portion of the overall narcolepsy patient population. The higher prevalence of Type 2 narcolepsy translates into a larger market size for drugs targeting this specific subtype. Type 2 narcolepsy shares many of the same symptoms as Type 1 narcolepsy, including excessive daytime sleepiness, sleep attacks, and disrupted nighttime sleep. While cataplexy is absent in Type 2 narcolepsy, individuals with this subtype still experience significant impairment and require treatment to manage their symptoms effectively. Therefore, the market for drugs targeting Type 2 narcolepsy remains substantial. The development and availability of narcolepsy drugs have historically focused on managing excessive daytime sleepiness, which is a common symptom in both Type 1 and Type 2 narcolepsy. As a result, pharmaceutical companies have predominantly targeted the broader narcolepsy population, including individuals with Type 2 narcolepsy, with their drug offerings. This treatment focus has fueled the dominance of the Type 2 narcolepsy segment in the narcolepsy drugs market.
Narcolepsy Drugs Market by Drug Class
Based on the drug class, the global narcolepsy drugs market is segmented into tricyclic antidepressants, central nervous system stimulants, selective serotonin reuptake inhibitors, and others.
The central nervous system (CNS) stimulants segment dominated the global market in 2022. CNS stimulants have shown high efficacy in reducing excessive daytime sleepiness, which is one of the primary symptoms of narcolepsy. These drugs help promote wakefulness and increase alertness, allowing individuals with narcolepsy to stay awake and function more effectively during the day. CNS stimulants, such as Modafinil and Armodafinil, have been widely used in the treatment of narcolepsy for many years. They have a well-established track record of safety and efficacy, with a substantial body of clinical evidence supporting their use. This long-standing clinical experience contributes to the dominance of CNS stimulants in the market. CNS stimulants are available in various brands and formulations, providing options for physicians and patients to choose the most suitable medication. Different formulations, such as immediate-release and extended-release formulations, offer flexibility in dosing and treatment regimens, accommodating individual needs and preferences. CNS stimulants are often considered the first-line treatment choice for excessive daytime sleepiness in narcolepsy. They are typically prescribed as the initial pharmacological intervention due to their efficacy and well-established safety profiles. This preference for CNS stimulants as the primary treatment option contributes to their dominance in the market. CNS stimulants are not only used in narcolepsy but also prescribed for other sleep disorders, such as sleep apnea and shift work sleep disorder. This broader application expands the potential patient base for CNS stimulants, driving their dominance in the narcolepsy drugs market.
Narcolepsy Drugs Market by Region
Based on the region, the global narcolepsy drugs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America accounts for a significant revenue share in the global market. North America has a relatively higher prevalence of narcolepsy compared to other regions. According to a data sheet presented in November 2021 by the National Institute of Neurological Disorders and Stroke, narcolepsy affects between 135,000 and 200,000 people in the United States. The exact reasons for the higher prevalence are not fully understood but could be attributed to genetic factors, environmental influences, and variations in diagnostic practices. The larger patient population in North America contributes to the dominance of the region in the narcolepsy drugs market. North America has a well-developed healthcare infrastructure with advanced diagnostic facilities, sleep disorder centers, and access to specialized healthcare professionals. This infrastructure facilitates the accurate diagnosis and treatment of narcolepsy, leading to a higher demand for narcolepsy drugs. There has been significant awareness and understanding of narcolepsy in North America, both among healthcare professionals and the public. This awareness has led to improved diagnostic rates and earlier identification of narcolepsy cases. With more individuals being diagnosed, there is a greater need for effective drugs to manage the condition, contributing to the dominance of the narcolepsy drugs market in North America. North America is a hub for pharmaceutical research and development. Many pharmaceutical companies based in North America are actively engaged in developing and commercializing narcolepsy drugs. The presence of these companies and their research efforts contribute to the dominance of the narcolepsy drugs market in the region.
Competitive Landscape
The prominent players operating in the global narcolepsy drugs market are:
Strategic Developments
Narcolepsy is a chronic neurological disorder characterized by excessive daytime sleepiness, sudden loss of muscle tone (cataplexy), sleep paralysis, and hallucinations.
Novartis AG, Takeda Pharmaceutical Company, Axsome Therapeutics Inc., and Jazz Pharmaceuticals Plc. are some of the major market players in the global narcolepsy drugs market.
Limited treatment options and concerns about the side effects are some of the restraints obstructing the growth of the global market.
The central nervous system stimulants segment dominated the global narcolepsy drugs market in 2022.
The high prevalence of infectious diseases and technological advancements and drug innovation are some of the major factors driving the global market.
*Insights on financial performance are subject to the availability of information in the public domain