Global Narcolepsy Drugs Market Size to Hit $6.66 Billion by 2030: Allied Market Research

Rise in stress among individuals and surge in consumption of alcohol, tobacco, and other harmful substances is anticipated to boost the risk of narcolepsy. Medicine development useful in narcolepsy treatment has earned incredible pace in the past few years. COVID-19 negatively impacted the global narcolepsy drugs market. Patients with narcolepsy find it hard to get the prescription due to the restrictions and lockdown. There is also a risk of cross-infection in medical centers and hospitals.

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Portland, OR, Oct. 05, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Narcolepsy Drugs Market was worth $2.68 billion in 2020, and is projected to reach $6.66 billion by 2030, registering a CAGR of 9.6% from 2021 to 2030. The report offers an in-depth analysis of the emerging and current trends, market size, future estimations, and key players.

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Factors such as surge in worldwide prevalence of narcolepsy, increase in the number of narcolepsy awareness services and programs, and presence of reimbursement policies regarding narcolepsy propel the global narcolepsy drugs market. On the other hand, factors including hazardous effects and risks associated with narcolepsy drugs and delayed diagnosis or wrong diagnosis are expected to hinder the market growth. Untapped markets in developing countries are the best opportunity for the market players.

Covid-19 impact on global narcolepsy drugs market:

  • Covid-19 is a lethal pandemic on which there is a lack of appropriate treatment available. Hence the focus on drugs and medical equipment manufacturers is on developing solutions needed for the treatment of Covid-19. This is keeping the narcolepsy drugs market on the back burner.
  • The pandemic has affected the supply chain network across the globe and research activities are also affected due to the lack of a workforce.

The report segments the global narcolepsy drugs market on the basis of disease type, therapeutic type, and region.

Based on disease type, the daytime extreme sleepiness segment accounted for the largest market share in 2020, contributing to nearly half of the total share, and is expected to maintain the lead throughout the forecast period. On the other hand, the cataplexia segment is estimated to witness the fastest CAGR of 10.0% from 2021 to 2030.

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Based on the therapeutic type, the sodium oxybate segment contributed to the largest share in 2020, accounting for more than three-fifths of the global narcolepsy drugs market. The same segment is expected to lead throughout the forecast period. However, the selective serotonin reuptake inhibitor segment is expected to manifest the highest CAGR of 10.9% from 2021 to 2030. 

Based on region, North America contributed to the highest share in 2020, holding more than two-thirds of the total share, and is expected to maintain dominance throughout the forecast period. On the other hand, Asia-Pacific is expected to portray the fastest CAGR of 11.6% during the forecast period. 

Leading players of the global narcolepsy drugs market analyzed in the research include Bioprojet Company, Ligand Pharmaceuticals Incorporated, Graymark Healthcare, Inc., Arena Pharmaceuticals, Inc., Hikma Pharmaceuticals PLC, Jazz Pharmaceuticals plc, Takeda Pharmaceutical Company Limited, Shionogi Inc., Novartis International AG, and Teva Pharmaceutical Industries Limited.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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