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The global narcolepsy therapeutics market is projected to reach $4,912.3 million by 2032 from $915.2 million in 2021 at a CAGR of 15.93% during the forecast period 2022-2032

·5-min read
ReportLinker
ReportLinker

This The market is driven by certain factors, such as low satisfaction with available therapies, robust pipeline products, rising uptake of narcolepsy awareness programs, and improving diagnosis.

New York, July 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Narcolepsy Therapeutics Market - A Global and Country Level Analysis: Focus on Therapeutics, Indication, Product, and Country - Analysis and Forecast, 2022-2032" - https://www.reportlinker.com/p06293668/?utm_source=GNW

Market Lifecycle Stage

The global narcolepsy therapeutics market is in the rapidly evolving and dynamic stage, which opens ample opportunities for life science companies.Also, companies that are already in the development phase for narcolepsy therapies are trying to bring advanced treatment options to the market to improve the quality of life of people with narcolepsy.

The companies operating in the global narcolepsy therapeutics market are now focusing more on disease-specific and personalized treatment options.Also, major players such as Jazz Pharmaceuticals PLC, Takeda Pharmaceuticals Co.

Ltd, and Bioproject Pharma are investing heavily in research and development for their respective therapeutic products.

Impact

Albeit narcolepsy is an orphan disorder with only about 3 million people globally, the existing management of narcolepsy propounds the area as investigational for drug research and development.Currently, all available therapies are symptom-centric and do not cure the condition.

In about 50% of people, disorder onset often occurs prior to age 25 with a delayed diagnosis, especially in adolescents.Insubstantial abilities of existing therapies to cover a complete range of symptoms and insignificant improvement in the quality of life of people with narcolepsy have led to the emergence of several innovative therapies in recent years.

The market witnessed approximately 39 regulatory and legal developments during the time period between January 2019 and May 2022.

In addition, the disorder profoundly increases the psychosocial burden on people with narcolepsy.Associated high treatment costs and dwindled work productivity with reduced income levels are some of the key factors adding to the psychosocial burden for people living with narcolepsy.

Most companies are focusing on expanding their product portfolio with the launch of best-in-class distinctive novel therapeutics and trying to address the limitations and challenges with available therapies in an effort to increase their global footprint alongside.

Market Segmentation

Segmentation 1: by Indication
• Type 1 Narcolepsy
• Type 2 Narcolepsy
• Secondary Narcolepsy

Due to recent research and development in type 1 narcolepsy, significant therapies with novel mechanisms of action, reduced dosing, and better efficacy are emerging. Therefore, the segment is dominated by type 1 narcolepsy, which held a share of 69.60% in 2021.

Segmentation 2: by Product
• Commercialized Products
• Pipeline Products

In 2021, the global narcolepsy therapeutics market (by product) is dominated by commercialized products with 100% market share.

Segmentation 3: by Therapeutic Type
• Central Nervous System Stimulant
• Norepinephrine Reuptake Inhibitor
• Histamine-3 (H3) Receptor Antagonist/Inverse Agonist

The global narcolepsy therapeutics market (by therapeutics) is presently dominated by central nervous system stimulant, with a value of $535.3 million, as of 2021.

Segmentation 4: by Country
• U.S.
• Germany
• Italy
• France
• U.K.
• Spain
• Japan

In 2021, the U.S. accounted for a share of 93.48% of the global narcolepsy therapeutics market. The segment is expected to reach $4,327.7 million in 2032 from $855.5 million in 2021 at a CAGR of 15.24% during the forecast period 2022-2032.

Recent Developments in the Global Narcolepsy Therapeutics Market

• On March 28, 2022, Jazz Pharmaceuticals PLC divested Sunosi. Axsome Therapeutics, Inc. will expand its presence in neuroscience by acquiring Sunosi (solriamfetol) from Jazz Pharmaceuticals PLC.
• On August 31, 2021, Health Canada approved Jazz Pharmaceutical’s Sunosi (solriamfetol) for excessive daytime sleepiness associated with narcolepsy.
• On August 10, 2021, Harmony Biosciences LLC’s successful track record of Wakix motivated Blackstone to enter a strategic financing collaboration, where the company agreed to invest up to $330.0 million of financing and growth capital in Harmony Biosciences LLC.
• On September 16, 2021, Axsome Therapeutics, Inc. announced the enrolment of the first patient in the new phase 3 clinical trial SYMPHONY (a study evaluating a mechanistic approach to treating narcolepsy) of AXS-12 in narcoleptic patients.

Demand - Drivers and Limitations

Following are the demand drivers for the global narcolepsy therapeutics market:
• Large Population of Undiagnosed and Untreated Narcolepsy Population
• Increasing Research Funding for Neuroscience
• Approval of Advanced Therapies with Novel Mechanism of Action (MoA)
• Existing Unmet Needs of Patients and Healthcare Professionals (HCPs)

The market is expected to face some limitations due to the following challenges:
• Delayed Diagnosis
• Lack of Awareness

How can this report add value to an organization?

Innovation Strategy: The therapeutic segment helps the reader understand the different drug classes being targeted to develop novel and advanced therapies for narcolepsy in the market.

Growth/Marketing Strategy: The global narcolepsy therapeutics market has seen major development by key players operating in the market, such as regulatory and legal developments, clinical developments, synergistic activities, product approvals, product launches and updates, mergers and acquisitions, business expansion and funding, and other developments. The favored strategy for the companies has been regulatory and legal activities along with product approvals to strengthen their position in the market.

Competitive Strategy: Key players in the global narcolepsy therapeutics market have been analyzed and profiled in the study.Moreover, a detailed competitive benchmarking of players operating in the global narcolepsy therapeutics market has been done to help the reader understand how players stack against each other, presenting a clear market landscape.

Additionally, comprehensive competitive strategies such as partnerships, agreements, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.

Key Market Players and Competition Synopsis

The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.

Some of the prominent names established in this market are:
• Jazz Pharmaceuticals PLC
• Harmony Bioscience, LLC
• Axsome Therapeutics, Inc.
• Avadel Pharmaceuticals PLC
• Takeda Pharmaceutical Co Ltd
• Sumitomo Pharma Co Ltd
• Suven Life Sciences Limited
• NLS Pharmaceutics AG
• Balance Therapeutics

Countries Covered
• U.S.
• U.K.
• Germany
• France
• Italy
• Spain
• Japan
Read the full report: https://www.reportlinker.com/p06293668/?utm_source=GNW

About Reportlinker
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