Epilepsy Drugs Market Size Worth $10.70 Billion, Globally, by 2030 – Exclusive Report by The Insight Partners
The global epilepsy drugs market is growing at a CAGR of 4.1% from 2022 to 2030.
Pune, India, Nov. 08, 2023 (GLOBE NEWSWIRE) — Epilepsy is a neurological condition that can cause seizures and affects millions of people globally. Epilepsy drugs are also known as anti-epileptic drugs (AEDs), which are commonly used for the treatment of epilepsy as it helps in the better management of seizures among epilepsy patients. Some of the patients with drugs resistance epilepsy opt for other treatment methods such as surgery and devices that are implanted in the brain to helps in seizure management.
According to our new research study on “Epilepsy Drugs Market Size and Forecasts (2020 – 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Treatment (First Generation Anti-Epileptics, Second Generation Anti-Epileptics, and Third Generation Anti-Epileptics), Distribution Channel (Hospital Pharmacy, Retail Pharmacy Stores, and Others), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America),” the epilepsy drugs market share to grow from $10.70 billion by 2030 from $7.76 billion in 2022. The market is estimated to grow at a CAGR of 4.1% from 2022 to 2030.
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Global Epilepsy Drugs Market: Competitive Landscape and Key Developments
UCB SA, Novartis AG, Pfizer Inc, GSK Plc, Abbott Laboratories, Sanofi SA, Sumitomo Pharma company, Teva Pharmaceutical Industries Ltd, Catalyst Pharmaceuticals Inc, and Alkem Laboratories Ltd are among the leading companies operating in the epilepsy drugs market. These players focus on diversifying and expanding their market presence alongside acquiring a novel customer base, thereby tapping prevailing business opportunities in the epilepsy drugs market. Market players are launching new products into the market. A few examples of such new launches are mentioned below:
In October 2023, Novartis completed Sandoz’s spin-off through a dividend-in-kind distribution to holders of Novartis shares and American Depositary Receipts. Each holder received one Sandoz share for every five Novartis shares held at the close of business on October 3, 2023. The separation of Sandoz has led Novartis to complete its transformation, allowing it to focus as a medicines company.
In September 2023, Sanofi sold Pharmanovia, a firm established in the UK, 11 brands from its portfolio related to the central nervous system, including the epilepsy medications Gardenal and Frisium. Along with Tercian, which treats anxiety and psychotic problems in patients who have already failed other medications, Sanofi is also getting rid of the epilepsy medication Gardenal and the nausea and vertigo medication Stemetil.
In March 2022, The US Food and Drug Administration (FDA) approved UCB SA drug to treat seizures associated with Lennox-Gastaut Syndrome (LGS), a rare form of childhood epilepsy. The drug, branded as Fintepla, already has US approval to treat another form of childhood-onset epilepsy, Davet Syndrome (DS), in patients aged two years and older.
Increasing Product Approvals Would Lead to Future Trends in Global Epilepsy Drugs Market:
In recent years, there has been a notable increase in the approval of drugs to treat epilepsy, marking a significant step forward in addressing the challenges posed by severe seizures. Growing awareness of the need for effective therapeutic options and the dedicated efforts of researchers and pharmaceutical companies to develop innovative treatments are leading to the development and approval of these drugs.
Drug approvals and the diversity of new molecular entities (NMEs) upon which new drugs are based have been consistently growing over time. A notable growth in the number of drug approvals annually was also observed in the recent past. Thus, the acceptance of new drugs is rising and resulting in increasing approvals for the products. A few recent approvals are mentioned below –
In June 2023, the Drug Controller General of India (DCGI) approved Akums perampanel oral suspension for the treatment of epilepsy.
In December 2022, Zydus Lifesciences received approval from the US health regulator to market Topiramate extended-release capsules, used to control and prevent seizures in people with epilepsy, in the American market. The US FDA approved multiple strengths of the product to market.
In March 2022, Marinus Pharmaceuticals, Inc. announced that the US FDA approved ZTALMY (ganaxolone) oral suspension to treat seizures associated with cyclin-dependent kinase-like five deficiency disorder (CDD), a rare type of genetic epilepsy, in patients aged 2 years and above.
In August 2021, GW Pharmaceuticals approved cannabis-based medicines and is now part of Jazz Pharmaceuticals plc. It announced that the Healthcare Products Regulatory Agency (MHRA) and UK Medicines have approved a new indication for GW’s cannabidiol as an adjunctive treatment of seizures associated with tuberous sclerosis complex (TSC) in individuals aged 2 years and above.
Thus, the increasing number of regulatory approvals is becoming a trend in the epilepsy drug market worldwide.
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Global Epilepsy Drugs Market: Segmental Overview
The “Epilepsy Drugs Market” is segmented on the basis of treatment, distribution channel, and geography.
The epilepsy drugs market, by treatment, is segmented into first generation anti-epileptics, second generation anti-epileptics, and third generation anti-epileptics. In 2022, the second generation anti-epileptics segment held the largest market share; third generation anti-epileptics segment is estimated to register the fastest CAGR during 2022–2030. The third-generation AEDs mainly include eslicarbazepine acetate, lacosamide, and Cannabidiol. The drugs are claimed to be superior to previously known first- and second-generation AEDs in terms of safety and efficacy. The majority of new AEDs are used to control focal seizures, as well as in specific epileptic syndromes (Lennox–Gastaut syndrome and Dravet syndrome) and tuberous sclerosis. Third-generation AEDs have fewer adverse side effects, resulting in increased patient treatment adherence. The majority of new AEDs are used to control focal seizures, as well as in specific epileptic syndromes. Most of these third-generation drugs are effective, safe, and generally well-tolerated in children. Third-generation drugs are gaining importance but are not prescribed as frequently as second-generation anti-epileptic drugs.
Based on distribution channel, the Epilepsy Drugs market is segmented into hospital pharmacy, retail pharmacy stores, and others. In 2022, the hospital pharmacies segment held the largest market share; the retail pharmacy segment is anticipated to register the fastest CAGR during 2022–2030. Retail pharmacy stores sell prescription drugs, over-the-counter (OTC) drugs, and some fast-moving consumer goods, along with providing related services. Epilepsy needs medication on an ongoing basis, making prescription-based medicines mandatory, which helps in the expansion of retail pharmacies. Modern retail pharmacy chains are digitized, organized, and tech-enabled, which allows them to track medication inventories and sell 100% reliable goods. In addition, retail pharmacy chains provide value-added services for consumers having medical claims or insurance filing to be done. They can also be requested to refurbish previous bills or memos.
Go through further research published by The Insight Partners:
Anti Epilepsy Drugs Market – Global Analysis and Forecast to 2030
Antiepileptic Drugs Market – Global Analysis and Forecast to 2030
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