Officials at Future Market Insights (FMI) predict the worldwide market for narcolepsy treatment is anticipated to account for $3.8 billion in revenue over the next decade. FMI attributes significant demand for narcolepsy treatment in North America and Europe, particularly given the increasing affinity toward prescription treatments on a long haul basis. FMI concludes that there is a cognizant transfer from OTC medication to devices handling narcolepsy, fueling revenue expansion for the devices category in contrast to drugs.
Key Takeaways from Narcolepsy Treatment Market Study
- Foremost narcolepsy treatment makers are prioritizing area-specific product expansion. The product portfolio growth is majorly targeted in the APAC region.
- Apart from novel product expansion—majorly increasing from the existence of low price generic interpretations of patented drugs, strategic acquisitions, and partnerships will pave way for additional business growths.
- Makers in the worldwide narcolepsy treatment market are additionally concentrated toward presenting novel R&D units in several geographic regions.
- Industry leaders are centering on keeping up long-term partnerships with pharmacies—in retail and hospital, e-commerce, and drug stores. Sales via e-commerce distribution channels are likely to add a remarkable revenue share in the worldwide narcolepsy treatment market.
- FMI has additionally noted a rising center on the preparation of well-known combinations and products, by makers in North America to accomplish wide penetration and higher sales.
Devices in portable, in addition to available-for-rent formats, would translate into high implementation rates, all over the assessment period. Portable CPAP devices are smaller and lighter and could also be utilized as a home-based unit, bringing down the reliance on prescription drugs and OTC pills.
