In a recent published report, Kenneth Research has updated the market report for Narcolepsy Therapeutics Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Narcolepsy Therapeutics Market products.
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Kenneth Research has recently added a report titled Narcolepsy Therapeutics Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The Narcolepsy Therapeutics Market report provides an in-depth analysis of the Healthcare & Pharmaceuticals during the forecast period 2017-2025 which consists of the industry overview including the market size, volume, growth rate and recent trends and developments in the market based on historical and current data. The report covers detailed information about the key players, market segments, growth drivers and restraints in the industry. The report delivers an insight into the Narcolepsy Therapeutics Market which allows our clients to make informed decisions regarding the growth of their businesses.
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The Global Narcolepsy Therapeutics Market is anticipated to reach over USD 3263.65 Million by 2025 according to a new research published by Polaris Market Research.Narcolepsy is a therapeutic disorder which is categorized by prodigious daytime sleepiness as well as sudden attacks of sleep. In some cases, this chronic sleep disease can lead to an abrupt loss of muscle tone (cataplexy), leading to loss and weakness of muscle control. Some of the most common indications of narcolepsy are daytime sleepiness, hallucinations, fragmented sleep & insomnia, and sleep paralysis.
Growing incidence of narcolepsy and increasing overweight populace are the major factors estimated to drive the global narcolepsy therapeutics market growth. For instance, according to the Sleep Science journal 2017 report, it was estimated that around 1 in every 2,000 people across the globe are suffering from narcolepsy disorder. Moreover, according to the Australian Institute of Health and Welfare, around 63% of the Australian individuals who are aged over 18 years were estimated to be obese or overweight. Additionally, growing research and development activities and growing demands for effective treatment of the disease are another factors expected to boost the market growth. However, low per capita healthcare spending and lack of awareness majorly in middle income and lower-income economies is estimated to hinder the global narcolepsy therapeutics market during the forecast period.
The global Narcolepsy Therapeutics Market is segmented on the basis of product, type, and geography. On the basis of product, the global Narcolepsy Therapeutics Market is segmented into Sodium Oxybate, Central Nervous System Stimulants, Selective Serotonin Reuptake Inhibitor, and Tricyclic Antidepressants. In 2017, Sodium oxybate was estimated to domkiat5e the market segment.
The dominance is due to the presence of favorable reimbursement guidelines, the high cost of this drug, and the increasing awareness levels relating to diagnosis & associated treatments of the disease. On the basis of type, the global Narcolepsy Therapeutics Market is segmented into Narcolepsy with Cataplexy, Narcolepsy without Cataplexy, and Secondary Narcolepsy. In 2017, the Narcolepsy with cataplexy segment was estimated to dominate the market growth. The dominance is attributed to the growing incidence of cataplexy as a major indication in patients.
On the basis of region, the global Narcolepsy Therapeutics Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe was estimated to dominate the global Narcolepsy Therapeutics Market. The dominance is majorly attributed to the well-established healthcare organizations, rising R&D initiatives for the expansion of novel drugs, and high incidence of people suffering from such disorder. However, Asia Pacific is expected to dominate the global Narcolepsy Therapeutics Market during the forecast. Rising disposable income, increasing investments in biotechnology and pharmaceutical sectors, economic development, supportive government initiatives, and rising awareness among people regarding the appropriate therapies are the factors expected to significantly boost the Narcolepsy Therapeutics Market in the Asia Pacific.
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Some major key players in global Narcolepsy Therapeutics Market include Addrenex Pharmaceuticals, Inc., Arena Pharmaceuticals, Inc., BIOPROJET, Cephalon, Inc., Evotec AG, Graymark Healthcare, Inc., Hypnion, Inc., Jazz Pharmaceuticals, Inc., Ligand Pharmaceuticals, Inc., and Teva Pharmaceutical Industries Ltd. among others.
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