The Idiopathic Hypersomnia Treatment Market is estimated to be valued at US$ 242.4 Million in 2022 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 chronic neurological disorder characterized by excessive daytime sleepiness that is not caused by other medical conditions or substances. The main symptoms include prolonged sleep episodes, difficulty waking up, and unintended sleep during normal wakefulness. Treatment options available include prescription stimulants, sodium oxybate, and lifestyle modifications.
Market Dynamics:
Rising awareness about idiopathic hypersomnia as a distinct sleep disorder and availability of improved diagnostic methods are driving the growth of this market. According to the WakeUp IH foundation, only around 40% of patients are able to get an accurate diagnosis primarily due to lack of awareness among physicians. However, inclusion of hypersomnia associated with psychiatric disorders in the latest edition of the International Classification of Sleep Disorders is expected to boost accurate diagnoses. Moreover, sodium oxybate received FDA approval for treatment of idiopathic hypersomnia in 2021 and is anticipated to aid the market growth owing to its effectiveness.
SWOT Analysis
Strength: Idiopathic hypersomnia treatment market has several treatment options available such as pharmaceutical drugs, CPAP devices, oxygen concentrators. Stimulant drugs are effective in treating excessive daytime sleepiness though these have side effects. Stimulants like modafinil are the first line of treatment for idiopathic hypersomnia.
Weakness: High cost of CPAP devices and pharmaceutical drugs makes long term treatment expensive. Lack of awareness about idiopathic hypersomnia condition leads to underdiagnosis. Differentiating idiopathic hypersomnia from other sleep disorders like narcolepsy is difficult.
Opportunity: Rising awareness through online health portals and social media help people recognize the symptoms. Partnerships between hospitals and community initiatives spread knowledge. Growing geriatric population susceptible to sleep disorders expands the patient pool.
Threats: Presence of alternative treatment therapies like lifestyle changes, yoga, and supplements. Strict regulations for approval of new drugs raise compliance cost. Reimbursement issues and lack of insurance coverage in developing regions restrict market growth.
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 symptoms of idiopathic hypersomnia and availability of effective pharmaceutical drugs. Regional analysis
North America dominates the global idiopathic hypersomnia treatment market owing to advancements in pharmaceutical drugs and technological devices. Support from patient advocacy groups and established healthcare infrastructure boost market growth in this region. Asia Pacific will exhibit fastest growth on back of rising geriatric population, rapid adoption of technology, and healthcare reforms in many countries.
Key players
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.
