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Narcolepsy Treatment Markett Revenue, Future Growth, Trends, Top Key Players, Business Opportunities, Industry Share, Size Analysis by Forecast 2028
Revenue from narcolepsy treatment, globally is projected to stand at a valuation of US$ 6.67 Bn, registering an annual growth rate of 5.7 percent, from 2022-2028. Future Market Insights (FMI), in its newly published market intelligence outlook, highlights substantial demand for narcolepsy treatment in North America. Narcolepsy treatment landscape in Europe, will witness significant revenue growth given the rising affinity toward adoption of prescription treatments and adherence to the same on a long term basis.
Asia Pacific among other emerging economies including MEA and Latin America, on the other hand, are expected to showcase positive trends towards the adoption of narcolepsy treatment, due to:
In term of key forward market strategies, the primary objective manufacturers in the narcolepsy treatment market is to expand their footprint in the various regional markets, in order to solidify their market position.
Key Findings from the Regional and Competitive Landscape Analysis of Narcolepsy Treatment Market
There is a conscious shift from OTC medication to devices treating narcolepsy, driving significant revenue growth for the devices segment compared to drugs. Growing incidences of inappropriate medication and addiction, translating into severe side effects including headache, prolonged drowsiness, daytime memory and performance problems, allergic reactions, and death in some cases, is the key driving factor. These side effects are associated with OTC as well as prescription-based sleep aids.
Growing demand to treat narcolepsy with BiPAP is expected to push this segment of devices—predicted to expand at the highest CAGR. Moreover, devices in portable and available-for-rent formats, will translate into higher adoption rates, throughout the forecast period. Portable Continuous positive airway pressure (CPAP) devices are lighter and smaller and can also be used as a home based unit, further reducing the dependency on OTC pills and prescription drugs.
Critical Market Restrainers
Although the narcolepsy market is expanding at a robust CAGR, long waiting time for sleep services, lack of awareness and delayed diagnosis, severe side effects of sleep aids medication, lack of proper documentation for the usage and licensing of sleeping pills, and improper equipment regulations are some critical factors projected to restrain the growth of narcolepsy treatment market.
For More Information: https://www.futuremarketinsights.com/reports/narcolepsy-treatment-market