Narcolepsy is a rare condition, which is often under diagnosed. The condition is characterized by excessive sleepiness, hallucination, sleep paralysis, excessive day time sleepiness, cataplexy, and automatic behaviors. Narcolepsy is caused due to lack of brain chemical known as orexin which regulates sleep. Several other factors can trigger narcolepsy such as menopause and puberty. The condition is rare and is estimated to affect more than 1 in 2000 people in the U.S. The condition does not have any cure, but drugs can improve the symptoms and bring about changes in lifestyle.
The global narcolepsy treatment market is expect to expand at a moderate CAGR during the forecast period. Increase in awareness about sleep disorders, rise in prevalence of these disorders due to unhealthy lifestyle, and surge in stress levels are the major factors anticipated to drive the global narcolepsy treatment market during the forecast period. Increase in demand for advanced therapies for sleeping disorders, extensive efforts of government and non-governmental organizations for spreading awareness about the disease, rise in R&D activities to find a cure for narcolepsy are the other factors expected to propel the global market. Moreover, rise in health care expenditure and reimbursement policies fuel the growth of the global narcolepsy treatment market during the forecast period. However, lack of awareness among patients and health care providers about the disease in developing countries are likely to restrain the global narcolepsy market during the forecast period.
The global narcolepsy treatment market can be segmented based on drug class, narcolepsy type, end-user, and region. In terms of drug class, the market can be classified into vasopressors, CNS stimulants, decongestants, serotonin reuptake inhibitors, and miscellaneous. Sodium Oxybate in the miscellaneous segment is expected to account for a significant share of the global market during the forecast period due to favorable reimbursement policies. Based on narcolepsy type, the global narcolepsy treatment market can be bifurcated into narcolepsy type 1 and 2. In terms of end-user, the market can be divided into drug stores, retail pharmacies, and e-commerce.
The global narcolepsy treatment market is expected to grow at a significant pace across all regions. Geographically, the global market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominated the global market in 2016 and is expected to continue its dominance during the forecast period. Increase in awareness towards narcolepsy treatment, prevalence of unhealthy lifestyle etc. are few of the major factor driving the growth of market in the region. Furthermore, advanced technology, rise in awareness among people about diagnosis of the disease, and high health care expenditure boost the growth of the narcolepsy treatment market in North America. Europe is also anticipated to account for a significant share of the global market due to increase in R&D activities and well-established health care infrastructure. The market in Asia Pacific is anticipated to expand at a faster growth rate during the forecast period. Asia Pacific is the most lucrative market due to rise in disposable income, adoption of health care solutions for better standard of life, rise in awareness about health, prevalence of lifestyle related diseases, surge in investment in pharmaceuticals and biotechnology sectors, and high prevalence of narcolepsy in countries such as Japan.
Key players have adopted strategies such as extensive R&D, mergers, cost-effective drugs, collaborative partnerships, and approval from regulatory authorities to capture leadership position in the global narcolepsy treatment market. For instance, Jazz Pharmaceuticals’ Xyrem is the only U.S. FDA-approved drug used for cataplexy. Prominent players operating in the global narcolepsy treatment market are Jazz Pharmaceuticals plc, Bioprojet, Arena Pharmaceuticals, Inc., and Graymark Healthcare, Inc., among others.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.