Narcolepsy Treatment Market Worth US$ 3,818 Mn By 2028, With a CAGR of 5.7 % During 2018-2028

Narcolepsy Treatment Market Worth US$ 3,818 Mn By 2028, With a CAGR of 5.7 % During 2018-2028

PR Newswire

VALLEY COTTAGE, New York, November 27, 2018

VALLEY COTTAGE, New York, November 27, 2018 /PRNewswire/ --

Revenue from narcolepsy treatment, globally is projected to stand at a valuation of US$ 3,818 Mn, registering an annual growth rate of 5.7 percent, from 2018-2028. 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.

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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.

A sample of this report is available upon request @ https://www.futuremarketinsights.com/reports/sample/rep-gb-7641

Key Findings from the Regional and Competitive Landscape Analysis of Narcolepsy Treatment Market 

Preview Analysis On Narcolepsy Treatment Market Segmentation By Product Type - Narcolepsy treatment drugs and devices; Distribution Channel - Hospital pharmacies, retail pharmacies, e-commerce, drug stores: https://www.futuremarketinsights.com/reports/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.

While explaining the growth trajectory of narcolepsy treatment market, a senior analyst from the healthcare domain underscores growing healthcare expenditure and rising incidence cases of fracture fixation and orthopedic disorders as key factors contributing to the demand of narcolepsy treatment though 2028. "Regulatory impositions by various global authorities including the FDA and European Commission along with currency fluctuations, regulations and changing taxation policies are some high-impact factors pushing the global demand for narcolepsy treatment", the analyst further explains.

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.

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