by The North American Idiopathic Hypersomnia Treatment Market is estimated to be valued at US$ 242.4 Million in 2020 and is expected to exhibit a CAGR Of 8.7% over the forecast period 2020-2027, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Idiopathic hypersomnia is a neurological disorder characterized by excessive daytime sleepiness that is not caused by other conditions such as insufficient or interrupted sleep. Currently, there are no approved drugs for idiopathic hypersomnia treatment and off-label usage of stimulants and sodium oxybate is common. Stimulants such as modafinil and armodafinil are among the widely prescribed drugs to manage excessive daytime sleepiness.
Market Dynamics:
Rising prevalence of idiopathic hypersomnia in North America is a key factor fueling the market growth. For instance, according to a 2018 study published in the Journal of Clinical Sleep Medicine, the prevalence of idiopathic hypersomnia in the U.S. ranges between 0.02% to 0.16% of the population.
Additionally, increasing research activities related to new treatment developments is also contributing to the market growth. Major companies such as Jazz Pharmaceuticals and Avadel Pharmaceuticals are conducting clinical trials for new drug formulations. For instance, in May 2019, Avadel Pharmaceuticals initiated a Phase 3 clinical trial of FT218, a once-nightly formulation of sodium oxybate for the treatment of excessive daytime sleepiness and cataplexy in patients with narcolepsy. The drug is also being evaluated for the treatment of idiopathic hypersomnia. If approved, it could provide an effective treatment option for people living with
Segment Analysis
The idiopathic hypersomnia treatment market is segmented based on drug type, distribution channels, and geography. By drug type, the market is categorized into stimulants, antidepressants, and sodium oxybate. Sodium oxybate is the dominating sub-segment as it is the only FDA-approved drug to treat idiopathic hypersomnia.
PEST Analysis
Political: Regulations related to approval process and marketing of drugs impact the market. Stringent approval norms by FDA hamper rapid market growth.
Economic: High healthcare expenditure and increasing geriatric population contributing to market growth. However, high drug costs pose a challenge.
Social: Growing awareness about hypersomnia disorders and their treatment options is a key driver. Social stigma related to sleep disorders gets reduced with education programs.
Technological: Advancements in drug delivery systems help improve treatment efficacy and compliance. Targeted drug development helps address unmet needs.
Key Takeaways
The global idiopathic hypersomnia treatment market is expected to witness high growth, exhibiting CAGR of 8.7% over the forecast period, due to increasing awareness about hypersomnia disorders and ongoing R&D efforts.
Regional analysis: North America holds the dominant share in idiopathic hypersomnia treatment market due to presence of key players, higher diagnosis rates, and drug reimbursement policies. However, Asia Pacific is projected to grow at the fastest pace during the forecast period owing to improving healthcare infrastructure and increasing healthcare spending.
Key players operating in the idiopathic hypersomnia treatment market are Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Jazz Pharmaceuticals, Inc., BIOPROJET, Avadel Pharmaceuticals, Plc. GlaxoSmithKline plc, Pfizer Inc., Theranexus, Fisher & Paykel Healthcare Limited, Drive DeVilbiss Healthcare LLC, and Merck & Co. Inc. Companies are engaging in new product launches and geographical expansion to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
