Narcolepsy Drugs Market Trends

• Rising Understanding Regarding Narcolepsy Disorders- The active involvement of various organizations globally to spread awareness related to the disorder and its symptoms is propelling the growth of the market. In addition, the rising knowledge regarding the treatment of narcolepsy and sleep disorders is leading to the rise in narcolepsy awareness programs. Further, increased concerns regarding the advantages of early diagnosis of narcolepsy drugs along with the promotions by governments to educate people & trained professionals regarding the disorder are accelerating the growth of the market. Therefore, these factors are estimated to drive the demand for the narcolepsy drugs market during the forecast period. Based on the study "Narcolepsy Presentation in Diverse Populations: an Update" released in November 2020, narcolepsy influences 0.87-1.21% of the worldwide population.
• Market participants' approval and introduction of new pharmaceuticals- Approval and launch of novel medications by market players are expected to play an important role in propelling market expansion in the next years. For instance, the FDA approved Avadel's New Drug Application (NDA) for FT218, an experimental, once-nightly composition of sodium oxybate employed for the treatment of high levels of drowsiness and cataplexy in people with narcolepsy, in March 2021.
• The growing incidence of narcolepsy around the world is projected to drive the industry- A report released in January 2022 titled "Prevalence, incidence, and health care utilization of patients with narcolepsy: a population-representative study" revealed that the early prevalence of narcolepsy in Europe is 0.64-1.37 per 100,000. 
• Geriatric population growth worldwide- By 2030, one in every six persons on the globe is estimated to be 60 or older. The global population of individuals aged 60 and up will double (2.1 billion) by 2050.
• Extreme Psychological Stress- As of 2022, 19.86% of adults are suffering from a mental illness. The equivalent of roughly 50 million Americans. 4.91% have a severe mental disorder in America.

Challenges

• Stringent Government Regulations- Stringent government regulations regarding the agreement for narcolepsy drugs are identified as one of the factors expected to hamper the growth of the market over the forecast period.
• Risks Related to Narcolepsy Drugs- The ill effects of narcolepsy drugs along with the possibility of delay in diagnosis & treatment are anticipated to hinder the growth of the market. Further, a lack of acknowledgment among patients and medical care providers in developed & developing nations is restraining the market growth of narcolepsy drugs.
• Misdiagnosis or Postponed diagnosis