Narcolepsy Drugs Market Size

Narcolepsy Drugs Market anticipated to reach USD 11.6 Billion by the end of 2035, growing at a CAGR of 10% during the forecast period i.e., 2023-2035. In the year 2022, the industry size of narcolepsy drugs was over USD 3.3 Billion. The rising prevalence of narcolepsy globally owing to the stressful lifestyle along with the surge in consumption of alcohol and tobacco is one of the major factors estimated to drive the growth of the narcolepsy drugs. As per the report, approximately 20% of American adults smoke, while 64% use alcoholic beverages regularly.

The market growth is also attributed to the increasing demand for the latest therapies to cure the disorder and rising healthcare expenditure in various emerging economies. Further, there is a significant rise in the activities of research & development for the development of highly effective drugs on the back of unhealthy lifestyles of people. Between 2000 and 2018, global health expenditure increased steadily, reaching US$ 8.3 trillion, or 10% of the global GDP.

The creation of drugs for narcolepsy treatment has accelerated dramatically in recent years. Furthermore, administrations in nations including India and South Africa are encouraging the manufacturing of narcolepsy drugs due to the health benefits, which are projected to enhance the narcolepsy drugs industry growth throughout the forecast period.