Narcolepsy Drugs Market Share

North American Market Forecast

The market in North America is anticipated to dominate the market owing to the rising prevalence of unhealthy lifestyles along with the technological advancements for the diagnosis of disease. Further, an increase in the number of narcolepsy cases leading to the rising awareness for the treatment along with rising healthcare expenditure is driving the growth of the market. Narcolepsy impacts between 135,000 and 200,000 individuals across the United States, in accordance to a data sheet published in November 2021 by the National Institute of Neurological Disorders and Stroke. However, owing to this condition is often incorrectly diagnosed, the number could be substantially higher. As a result of the elevated incidence of narcolepsy in advanced nations such as the United States, the growing use of narcolepsy treatment is expected to drive market expansion in this area.

APAC Market Statistics

The Asia Pacific region is estimated to witness the fastest growth rate on the back of economic development in major nations and rising investments in biotechnology sectors. In addition, the adoption of better standards of life and rising cases of sleep disorders is fostering the growth of the market. Japan has been identified as exhibiting a high frequency of narcolepsy among Asia Pacific countries. Governments in nations such as India are raising knowledge about the relevance of narcolepsy, which is projected to drive development in the narcolepsy drugs market over the forecast time frame. Moreover, the presence of established economic economies such as China and India is assisting in the development of healthcare facilities throughout the Asia-Pacific area. Furthermore, favorable government strategies in the Asia-Pacific region are encouraging the development of the narcolepsy drugs market. Other notable factors for expansion in this region's narcolepsy drugs market include multiple agreements between business entities and academic institutions in the region, along with an increase in the number of new products introduced, acquisitions, and product authorizations.

Europe Market Forecast

The Europe region is estimated to foresee lucrative growth on the account of rising research & development initiatives for the progress in narcolepsy novel drugs. In 2022, Europe held the second-largest market share. The key reasons for this are improved medical services and the region's growing population. This sector is also being boosted by government activities about depressive illness and its consequences. Other positive contributing elements include having finances accessible for research and operations, the expansion of the large patient population, and the increase in the number of obese people. Furthermore, the presence of established economic nations in European regions including Italy, Germany, and France. According to Eurostat, more than half of people in Europe are obese.