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Narcolepsy Therapeutics Market Size
Narcolepsy Therapeutics Market was valued at around USD 3.6 billion in 2023 and is estimated to grow at 8.2% CAGR from 2024 to 2032. The increasing prevalence of narcolepsy is a major factor driving the growth of the market. Narcolepsy, a chronic sleep disorder characterized by excessive daytime sleepiness and sudden muscle weakness (cataplexy), affects approximately 1 in 2,000 individuals in the U.S.
Narcolepsy therapeutics refer to the treatments and medications used to manage narcolepsy, a chronic sleep disorder characterized by excessive daytime sleepiness, sudden loss of muscle tone (cataplexy), sleep paralysis, and hallucinations. The goal of these therapies is to alleviate the symptoms, improve wakefulness, and enhance the quality of life for individuals with narcolepsy.
Why is the demand for narcolepsy therapeutics rising in retail pharmacies?
The retail pharmacies segment in the narcolepsy therapeutics market held 48.6% revenue share in 2023 driven by their widespread accessibility and recommended over-the-counter products for narcolepsy management.
How big is the North America narcolepsy therapeutics industry?
North America market size accounted for USD 1.6 billion in 2023, owing to the increased awareness among the public and healthcare professionals from campaigns and educational initiatives.
What is the size of the narcolepsy therapeutics market?
Global industry size for narcolepsy therapeutics was valued at USD 3.6 billion in 2023 and is anticipated to register 8.2% CAGR between 2024 and 2032 due to the introduction of novel therapeutic products and advancements in R&D activities
Who are the leading narcolepsy therapeutics industry players?
Avadel Pharmaceuticals, Axsome Therapeutics Inc., Harmony Biosciences, Jazz Pharmaceuticals PLC, Mylan N.V., Novartis AG, Rhodes Pharmaceuticals L.P., Shionogi Inc., and Takeda Pharmaceutical Company, among others.