The global narcolepsy drugs market size was more than USD 1,680.06 million in 2020. The global narcolepsy drugs market is forecast to grow at a compound annual growth rate (CAGR) of more than 8.6% during the forecast period from 2021 to 2027.
An individual with narcolepsy has difficulty controlling their sleep-wake cycle because it is a chronic sleeping disorder. This condition causes drowsiness during the day and sudden sleep attacks during the night. The majority of narcoleptics find it difficult to stay awake for long periods of time and feel very sleepy most of the time.
Many people with narcolepsy also experience irregular and interrupted sleep, leading to frequent waking up during the night. Such conditions can affect their daily lives. Narcoleptics may unwittingly fall asleep in the middle of activities like driving, eating, or talking. The first and most concerning symptom makes some tasks difficult to perform. An individual may also go limp or be unable to move due to sudden muscle weakness. There is no cure for narcolepsy, but the symptoms decrease with proper medications and lifestyle changes over time.
Factors Affecting
An increasing stress level among individuals leads to a stressful lifestyle, and an increase in consumption of alcohol, tobacco, and other harmful additives increases narcolepsy risk. In recent years, drug development for narcolepsy treatment has gained tremendous momentum. In addition, governments in countries such as India and South Africa promote narcolepsy drug products based on the health benefits, which will drive the narcolepsy drug market growth during the forecast period.
An increase in disposable income and awareness about the benefits of narcolepsy drugs will drive market growth.
The market growth predicts to be hindered by lower stability, poor sustainability, and lack of awareness regarding narcolepsy diagnosis and treatment available due to the natural colors derived from narcolepsy drugs.
Narcolepsy drugs market prospects are expanding thanks to various organizations' efforts to raise awareness.
Impact Analysis of COVID-19
Healthcare systems worldwide are experiencing many challenges due to the COVID-19 pandemic, including severe shortages of hospital beds for patients with ARDS who require high-level respiratory support. The social isolation and disruption of daily routines caused by COVID-19 precautions may impact individuals' exposure to the light-dark cycle that regulates their circadian rhythms, thus causing narcolepsy symptoms to worsen. In addition, the altered bedtime schedules contributed to excessive daytime sleepiness, which may explain the increase in stimulant usage. COVID-19 had a negative impact on narcolepsy drugs during a pandemic. Patients with narcolepsy may have difficulty getting their prescriptions due to restrictions on public transportation, home quarantine, and fear of cross-infection in hospitals, which results in drug discontinuation. Also, because there is no appropriate treatment for COVID-19, manufacturers are focusing their effort on developing drugs and equipment in order to treat it. There is not enough personal protective equipment (PPE) for hospital workers on the front lines in this frightening time. There is a lack of personal protective equipment like masks, gloves, eye protection, and clothing in hospitals worldwide.
Regional Overview
During the forecast period, North America will continue to remain the leader of the narcolepsy drugs market. Collaboration between academic and commercial institutions is increasing, as is research and development. Increasing acquisitions, product launches, and approvals of products by key players of this market operate in North America, which fuels the market's growth.
Key Players
The leading prominent competitors in the global narcolepsy drugs market are:
Scope of the Report
The global narcolepsy drugs market segmentation focuses on Disease Type, Therapeutics Type, and Region.
Segmentation based on Disease Type
Segmentation based on Therapeutics Type
Segmentation based on Region
