Global Antiepileptic Drug Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Himanshu Patni
- November 19, 2022
- HEALTHCARE, NEWS
- Antiepileptic Drug Market, Antiepileptic Drug Market Analysis, Antiepileptic Drug Market Growth, Antiepileptic Drug Market Share, Antiepileptic Drug Market Size, Antiepileptic Drug Market Trends
- 0 Comments
Epilepsy is a neurological disorder in which brain activity becomes abnormal, causing seizures or periods of unusual behavior, sensations, and sometimes loss of awareness. Anti-epileptic drugs (AEDs) work by changing the levels of chemicals in your brain. They do not cure epilepsy but can stop seizures from happening. Thus, the growing development of new drugs coupled with the increasing efforts in the research and development of more specific and effective drugs is driving the global antiepileptic drug market. Furthermore, as per the World Health Organization (WHO), around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. Additionally, increasing incidences of other neurological disorder and prenatal injuries are the factors that contribute to the surging epileptic cases and induces the demand for better antiepileptic treatments.
Thus, the Global Antiepileptic Drug Market is projected to expand significantly with a CAGR of around 2% from 2021 to 2027.
However, the coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors which has been majorly impacted by the COVID-19 pandemic. Many research centers have decided to freeze new trials and have stopped inpatient studies. Different pharmaceutical companies have also decided to delay the start of new clinical trials, suspended enrollment in some trials, and postponed the initiation of new sites in the case of trials continuing enrollment. This impacted the market negatively.
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Based on drug class, the market is segmented into the first generation, second generation, and third generation. Amongst them, second-generation drugs held a significant share in the antiepileptic drug market in 2020. This is due to their effectiveness in dealing with the slowing brain impulse and controlling the seizures.
Based on the distribution channel, the market is segmented into retail pharmacies, hospital pharmacies, and online pharmacies. The online pharmacy segment is expected to witness significant CAGR owing to the growing penetration of e-pharmacy platforms across the world coupled with increasing awareness regarding services offered by e-pharmacy. Furthermore, the growing focus on digitization and rising internet penetration in developing are some other key factors driving the market.
For a better understanding of the market adoption of the antiepileptic drug market, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America constitutes a major market for the antiepileptic drug industry owing to the increasing prevalence of epilepsy. It’s estimated that about 1.2 percent of U.S. people have active epilepsy. Furthermore, the presence of well-established market players and a developed healthcare ecosystem is expected to contribute significantly region’s steady growth during the forecast period.
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Some of the major players operating in the market are Novartis AG, GlaxoSmithKline Plc, Johnson & Johnson Service, Inc., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Zogenix, and Dr. Reddy’s Laboratories Ltd., Alkem Labs, SK Biopharmaceuticals, and Eisai Co., among others. Several M&As along with partnerships have been undertaken by these players to develop new and advanced antiepileptic drugs.
Global Antiepileptic Drug Market Segmentation
Market Insight, by Drug Class
• First Generation
• Second Generation
• Third Generation
Market Insight, by Distribution Channel
• Retail Pharmacies
• Hospitals pharmacies
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Novartis AG
- GlaxoSmithKline Plc
- Johnson & Johnson Service Inc
- Teva Pharmaceutical Industries Ltd.
- Pfizer Inc.
- Dr. Reddy’s Laboratories Ltd.
- Alkem Labs
- SK Biopharmaceuticals
- Eisai Co.