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increasing awareness of Narcolepsy Treatment is a major factor driving Narcolepsy Market

HYDERABAD, TELANGANA, INDIA, February 6, 2023 /EINPresswire.com/ -- The Narcolepsy Market size is estimated to be $2.68 billion in 2019, growing at a CAGR of 10.4% during the forecast period 2020-2025. Increasing obese population and rising prevalence of narcolepsy are major factors driving the narcolepsy market during the forecast period 2020-2025. Furthermore, narcolepsy is a lifelong nervous system disorder that affects a person's quality of life. Moreover, according to the Narcolepsy Network narcolepsy affected an estimated 1 in every 2000 people in the U.S. That’s 2000,000 Americans and approximately 3 million worldwide. Furthermore, people suffering from narcolepsy frequently enter into cataplexy and REM sleep within every 15 minutes of falling asleep, thereby driving the demand of proper narcolepsy treatment which in turn is boosting the narcolepsy market. In addition sleep apnea symptoms are similar to narcolepsy and patients go through excessive daytime sleepiness (EDS) thereby raising the demand for narcolepsy treatment.

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Key Takeaways

1. Hospitals held the largest market share in 2019 owing to the increase in narcolepsy to diagnose patients using polysomnography, multiple sleep latency tests, and another diagnostic tests.

2. North America dominated the Narcolepsy Market owing to its better healthcare infrastructure and the presence of major players in that region.

3. The rise in the Number of Narcolepsy Patients is a significant factor driving Narcolepsy Market during the forecast period 2020-2025.

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Segmental Analysis:

1. By Medication the Narcolepsy Market is segmented into Modafinil, Amphetamine-like Stimulants, Antidepressants, and Sodium Oxybate. Among these Modnafil is projected to be the fastest growing with a CAGR of 6.8% during the forecast period 2020-2025. This is owing to its less adverse effect than those in traditional psychostimulants such as amphetamine, methylphenidate, or cocaine. Moreover, modafinil is a smart drug also known as a nootropic enhances cognitive function in a variety of ways.

2. Hospitals held the largest market share in 2019 owing to the increase in narcolepsy to diagnose patients using polysomnography, multiple sleep latency tests, and other diagnostic tests. Polysomnography records the patient's brain waves, the oxygen level in the blood, heart rate, and breathing as well as eye and leg movements during the study. In addition to helping diagnose narcolepsy polysomnography can also be used to help adjust the treatment plan if the patient has already been diagnosed with a sleep disorder.

3. North America dominated the Narcolepsy Market with a region share of 39% in 2019 followed by Europe and APAC. Increasing adoption of products along with government initiatives to reduce narcolepsy, better healthcare infrastructure, and the presence of major players is a significant factors driving its market growth in that region.

Competitive Landscape:

The top 5 players in the Narcolepsy Industry are -

1. Addrenex Pharmaceuticals
2. Teva Pharmaceutical Industries Ltd
3. Shire Plc
4. GrayMark Healtcare Inc
5. Bioproject

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