The global 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.
Idiopathic hypersomnia is a neurological sleep disorder characterized by excessive daytime sleepiness that is not caused by other medical conditions or situations. The treatment for idiopathic hypersomnia aims to improve sleep quality and reduce excessive daytime sleepiness through the use of central nervous system stimulants and wakefulness-promoting agents. Emerging novel therapies are providing effective treatment options for patients suffering from idiopathic hypersomnia.
Market key trends:
One of the major trends witnessed in the global idiopathic hypersomnia treatment market is increasing research and development activities for developing novel therapeutic drugs for the treatment of idiopathic hypersomnia. For instance, in December 2019, Jazz Pharmaceuticals reported positive top-line results from the phase III clinical trial (WAKEUP) evaluating Xywav (calcium, magnesium, potassium, and sodium oxybates) oral solution for the treatment of idiopathic hypersomnia in adults. The trial met its primary endpoint demonstrating statistically significant and clinically meaningful reductions in excessive daytime sleepiness. The U.S. FDA approved Xywav in July 2020 for treatment of idiopathic hypersomnia in adult patients, providing an effective treatment option to patients.
Threat of new entrants: The threat of new entrants is low in this market as it requires huge R&D investments and clinical trials to develop new treatment options.
Bargaining power of buyers: The bargaining power of buyers is high due to presence of many existing treatment options available.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as demand of raw materials depends on the demand of final treatment products.
Threat of new substitutes: The threat of new substitutes is moderate as scope of development of new alternative treatment options exists.
Competitive rivalry: High due to presence of many large and small players competing on basis of product differentiation and pricing.
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 availability of treatment options and growing geriatric population susceptible to the disorder.
The North America region currently dominates the market owing to developed healthcare infrastructure and growing awareness. Asia Pacific is expected to witness fastest growth due to increasing healthcare expenditure and growing patient pool in major countries like China and India.
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. Major players are focusing on new product launches and acquisitions to strengthen their market position.
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it