The epilepsy drugs market comprises anti-epileptic drugs that are primarily used to treat epilepsy and seizures. Epilepsy is a neurological disorder characterized by recurrent and unprovoked seizures. Major anti-epileptic drugs in the market are first, second and third generation drugs that include sodium channel blockers, GABAergics, and combination therapeutics.
First generation drugs include phenobarbital, phenytoin and carbamazepine. Second generation drugs comprise valproate, lamotrigine, levetiracetam and topiramate. The third generation consists of perampanel, brivaracetam, lacosamide and eslicarbazepine. These Epilepsy Drugs Market Forecast alleviate symptoms, reduce seizure frequency and improve quality of life for patients suffering from epilepsy. The need for improved therapeutics is ever-growing as close to 50 million people suffer from epilepsy worldwide. Moreover, about 30% of epilepsy patients do not respond to initial treatment regimens, representing a huge unmet need.
The Global epilepsy drugs market is estimated to be valued at US$ 10.31 Bn in 2024 and is expected to exhibit a CAGR of 5.3% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the epilepsy drugs market are Pfizer Inc., Sumitomo Pharma Co., Ltd., Novartis AG, Abbott, GSK plc., Teva Pharmaceutical Industries Ltd., Sanofi, Takeda Pharmaceutical Company Limited, Marinus Pharmaceuticals, Inc, Eisai Co., Ltd, DAIICHI SANKYO COMPANY, LIMITED, Mylan N.V., Dr. Reddy’s Laboratories Ltd, Sun Pharmaceutical Industries Ltd., Neurelis, Inc., and Supernus Pharmaceuticals, Inc.
Growing incidences of epilepsy across both developed and developing regions is further driving the demand for anti-epileptic drugs. According to World Health Organization, close to 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally.
Technological advancements including development of novel drug delivery systems and third-generation anti-epileptic drugs with improved efficacy and safety profiles are also boosting the epilepsy drugs market growth.
Market Trends
– Epilepsy Drugs Market Size and Trends is increasing focus on developing novel drug formulations that ensure improved adherence is a key trend. Ongoing research in developing once-daily oral, transdermal and injectable long-acting formulations will support improved patient compliance.
– Growing preference for generics and biosimilars due to their cost-effectiveness is another notable trend in the epilepsy drugs market. Several patent expiries of blockbuster anti-epileptic drugs in the coming years will promote generics uptake.
Market Opportunities
– Unmet needs in pediatric epilepsy and refractory epilepsy present major opportunities. Only a few treatment options are currently approved for use in pediatric epilepsy presenting scope for novel therapies.
– Emerging economies will offer high growth potential during the forecast period driven by improving access to healthcare and diagnosis. Improving reimbursement policies will further support epilepsy drugs market expansion in developing Asian and Latin American countries.
Impact of COVID-19 on Epilepsy Drugs Market Growth
The COVID-19 pandemic has significantly impacted the epilepsy drugs market. The lockdowns and restrictions imposed during the initial outbreak disrupted manufacturing and supply chains globally. However, epilepsy being a chronic neurological condition, the demand for drugs remained stable. But access to healthcare facilities was limited due to fear of coronavirus infection. This led many patients to delay or postpone doctor consultations and regular treatment/checkups. The pandemic also hampered ongoing clinical trials of new drug candidates. However, with remote consultations and telehealth gaining prominence, healthcare services were made available virtually to manage epilepsy care without exposure risk. Moving forward, companies are re-strategizing manufacturing and ensuring uninterrupted supply to meet patient needs. The long term growth prospects of the market remain positive as emphasis is placed on enhanced compliance through remote monitoring technologies.
Geographical Regions with Concentrated Epilepsy Drugs Market Value
North America accounts for the largest share of the global epilepsy drugs market in terms of value. This is attributed to factors such as the high incidence of epilepsy, growing awareness about the condition, well-developed healthcare infrastructure and availability of advanced treatment options. The United States represents the major market within the region due to supportive reimbursement policies and presence of leading pharmaceutical manufacturers. Additionally, continuous investment in R&D of novel targeted therapies supports market growth.
Fastest Growing Region for Epilepsy Drugs Market
Asia Pacific is slated to be the fastest growing region for the global epilepsy drugs market during the forecast period. This is driven by large patient pools, rising healthcare expenditure, increasing government initiatives to spread epilepsy awareness and improvements in healthcare access in developing countries. Moreover, growing geriatric population susceptible to epilepsy and expanding medical tourism industry supplement regional market growth. The market is further fueled by continued economic development, availability of low-cost generics and establishment of major industry players targeting untapped opportunities.
Get more insights on, Epilepsy Drugs Market
Explore More Related Article On- Gastroesophageal Reflux Disease Treatment Devices Market
For Deeper Insights, Find the Report in the Language that You want.
About Author:
Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)