Global narcolepsy drug market size to reach $ 6.66 billion by
Portland, OR, October 05, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the Narcolepsy Drugs Market was worth $ 2.68 billion in 2020 and is expected to grow to $ 6.66 billion by 2030, registering a CAGR of 9.6% from 2021 to 2030. The report offers an in-depth analysis of emerging and current trends, market size, future estimates and key players.
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Factors such as increasing global prevalence of narcolepsy, increasing number of narcolepsy awareness services and programs, and presence of reimbursement policies regarding narcolepsy are propelling the global narcolepsy drugs market. On the other hand, factors such as dangerous effects and risks associated with narcolepsy drugs and delayed diagnosis or misdiagnosis are expected to hamper the market growth. The untapped markets of developing countries are the best opportunity for market players.
Impact of Covid-19 on the Global Narcolepsy Drugs Market:
- Covid-19 is a deadly pandemic for which there is a lack of appropriate treatment available. Therefore, manufacturers of drugs and medical equipment are focusing on developing solutions necessary for the treatment of Covid-19. This keeps the narcolepsy drug market on the back burner.
- The pandemic has affected the supply chain network across the world and research activities are also affected due to the lack of manpower.
The report segments the global narcolepsy drugs market on the basis of disease type, therapeutic type, and region.
On the basis of disease type, extreme daytime sleepiness segment accounted for the largest market share in 2020, contributing nearly half of the total share, and is expected to maintain its lead throughout the forecast period. On the other hand, the cataplexy segment is estimated to experience the fastest CAGR of 10.0% from 2021 to 2030.
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On the basis of therapeutic type, sodium oxybate segment contributed the largest share in 2020, accounting for more than three-fifths of the global narcolepsy drug market. The same segment is expected to lead throughout the forecast period. However, the selective serotonin reuptake inhibitor segment is expected to exhibit the Highest CAGR of 10.9% from 2021 to 2030.
Based on region, North America contributed the highest share in 2020, holding over two-thirds of the total share, and is expected to maintain its dominance throughout the forecast period. On the other hand, Asia-Pacific is expected to exhibit the fastest CAGR of 11.6% during the forecast period.
The major 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 some syndicated market research in the same area that may be of interest to you. Below is the report title for your reference, given the impact of Covid-19 on this market which will help you assess the aftermath of the pandemic on the short 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 division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
Pawan Kumar, CEO of Allied Market Research, leads the organization towards providing high quality data and information. We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecasts. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.