by Idiopathic hypersomnia is a rare neurological sleep disorder characterized by excessive daytime sleepiness. Symptoms include prolonged sleep episodes, episodes of daytime napping or sleepiness, and insomnia-like symptoms. The idiopathic hypersomnia treatment market mainly includes central nervous system stimulants, wakefulness promoting agents, and others. Growing awareness regarding idiopathic hypersomnia and increasing diagnosis rates are driving the demand for effective treatment options. Active involvement of various organizations in research and clinical trials to develop novel treatment therapies is further fueling the market growth.
The global idiopathic hypersomnia treatment market is estimated to be valued at US$ 338.42 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Rising research activities and drug development initiatives undertaken by market players in collaboration with research organizations are expected to propel the idiopathic hypersomnia treatment market growth over the forecast period. For instance, in December 2021, Avadel Pharmaceuticals Plc announced positive top-line results from a Phase 3 REST-ON study evaluating investigational FT218 for the treatment of excessive daytime sleepiness and cataplexy in patients with narcolepsy. If approved, FT218 has the potential to be a novel treatment for idiopathic hypersomnia patients. Further, increasing awareness campaigns conducted by non-profit and advocacy organizations are educating people regarding symptoms and available treatment options. This is also positively impacting the market by encouraging more patients to seek proper diagnosis and treatment. However, low disease prevalence and under diagnosis of idiopathic hypersomnia limit the market growth.
Segment Analysis
The global Idiopathic Hypersomnia Treatment market is segmented on the basis of drug class, indication, distribution channel, and geography. Based on drug class, the market is segmented into CNS stimulants, awakeness promoting agents, sodium oxybate, selective serotonin reuptake inhibitors, and others. Among these, the CNS stimulants segment dominates the market owing to the wide availability and acceptance of several stimulant drugs for the treatment of idiopathic hypersomnia.
Based on indication, the market is divided into excessive daytime sleepiness and cataplexy. The excessive daytime sleepiness segment accounts for the largest share as it is the most common symptom of idiopathic hypersomnia.
On the basis of distribution channel, the market is classified as hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment captures a major share as patients hospitalized for idiopathic hypersomnia are majorly treated through this channel.
PEST Analysis
Political: The regulation authorities like FDA are approving new drugs and treatments for idiopathic hypersomnia positively impacting the market growth. However, stringent regulations for drug approval can hinder the market.
Economic: Rising awareness about idiopathic hypersomnia and increasing healthcare spending are the key factors boosting the economic growth of this market. On the other hand, high treatment cost can restrain the market expansion.
Social: Growing hyposomnia patient population and improving diagnosis rates are the major social factors supporting the market. However, low disease awareness in developing nations poses challenges.
Technological: Advancements in drug delivery systems and diagnosis techniques are allowing development of more effective treatment options. Companies focusing on R&D of novel drugs will offer new opportunities.
Key Takeaways
The Global Idiopathic Hypersomnia Treatment Market Size is expected to witness high growth owing to rising disease prevalence globally. The global idiopathic hypersomnia treatment market is estimated to be valued at US$ 338.42 Mn in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2023 to 2030.
North America is expected to dominate the market during the forecast period due to growing awareness about idiopathic hypersomnia and presence of key pharmaceutical players in the region.
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. Key players are focused on developing more effective drugs through extensive R&D activities. Approval and launch of innovative drug formulations is anticipated to boost the market growth over the coming years.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
