Epilepsy Drugs Market to Capture a CAGR of 4% Between 2023 and 2032, While Touching Approximately USD 14.80 Billion by 2032 – The Brainy Insights
The global epilepsy drugs market size is anticipated to grow from USD 10 billion to USD 14.80 billion in 10 years. The Market will experience rapid growth due to the increasing research and development during the forecast period.
Newark, Jan. 31, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 10 billion in 2022 global epilepsy drugs market will reach USD 14.80 billion in 2032. medications for epilepsy are commonly referred to as antiepileptic medications (AEDs). Seizure prevention and control are essential in the management of epilepsy. These drugs work by modulating different brain systems that cause aberrant electrical activity. Among the medications for epilepsy include ethosuximide, levetiracetam, valproic acid, clonazepam, phenytoin and carbamazepine. Epilepsy medications lessen the frequency and severity of seizures, which stabilizes electrical activity in the brain. Beyond just helping people control their seizures, these drugs also help people with epilepsy live better lives. Medication for epilepsy also enhances psychosocial well-being. Furthermore, these medications are essential in avoiding consequences related to uncontrolled epilepsy, like accidents and injuries. Personalized medication selection is made according to each patient’s kind of seizures and unique features.
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Key Insight of the Global Epilepsy Drugs Market
North America will dominate the Market during the forecast period.
The advanced research and development landscape in North America is a major factor in the success of the epilepsy medicine business. Prominent pharmaceutical businesses and research institutes are also based there, advancing the development of novel treatments for epilepsy. Strong regulations enhance medication compliance, effectiveness, and accountability. The Market is expanding as a result of high healthcare spending.
In 2022, the second-generation drugs segment dominated the Market with the largest market share of 44% and market revenue of 4.40 billion.
The drug class segment is divided into first-generation drugs, second-generation drugs, and third-generation drugs. In 2022, the second-generation drugs segment dominated the Market with the largest market share of 44% and market revenue of 4.40 billion.
In 2022, the retail pharmacies segment dominated the Market with the largest market share of 45% and revenue of 4.50 billion.
The distribution channel segment is divided into hospital pharmacies, retail pharmacies and online pharmacies. In 2022, the retail pharmacies segment dominated the Market with the largest market share of 45% and revenue of 4.50 billion.
Advancement in Market
Research has demonstrated that protein, or epilepsy drugs, can assist in enhancing insulin sensitivity and reduce blood sugar levels, which suggests that protein aids in the management of diabetes. According to the Dietary Guidelines for Americans, adults over 19 should consume 46–56 grams (g) of protein daily, depending on their age and gender. Adults should get 10–35% of their daily calories from protein, and protein beverages are a smart way to supplement to meet the daily RDA requirements, say medical professionals.
Report coverage & details:
|Market Size in 2032
|USD 14.80 Billion
|No. of Pages in Report
|Drug Class and Distribution Channel
|The increasing prevalence of epilepsy due to accidents and injuries
|Increasing research and development infrastructure
|The side effects associated with epilepsy drugs
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Driver: Epilepsy prevalence is rising as a result of injuries and accidents.
Epilepsy is becoming more common as a result of an increase in accidents, sports injuries, and other trauma-related violence. Another possible risk factor for epilepsy is an increase in viral infections, especially those that impact the central nervous system (CNS). Epilepsy risk is increased by CNS infection outbreaks such as meningitis or encephalitis, which can cause brain inflammation and scarring. The risk of epilepsy will rise due to the global increase in infectious disease cases and the frequency of accidents, which will propel the expansion of the epilepsy medications market.
Restraints: The adverse consequences of medications for epilepsy.
Common side effects of epilepsy medications include cognitive impacts such as mood swings, gastrointestinal distress, memory problems, and dizziness. Changes in weight and skin responses are also likely. Many people may decide to stop taking their medication as a result of these adverse effects, which can negatively affect everyday functioning and quality of life. Thus, the adverse effects of epilepsy medications may prevent their widespread use, which would restrict the Market’s expansion.
Opportunities: research and development are expanding.
Recent developments in the treatment of epilepsy are evidenced by the creation and approval of novel antiepileptic medications (AEDs). By increasing therapy alternatives, reducing side effects, and enhancing efficacy, these technologies seek to improve treatment outcomes. These developments show encouraging progress in creating epilepsy medications and will support the future expansion and growth of the global epilepsy drug market.
Challenges: Stringent government regulation.
The stringent scrutiny and regulatory processes in approving epilepsy drugs pose significant challenges for market players. Extensive preclinical and clinical testing demands substantial financial investments and resources. Delays in approval timelines can extend the period before a drug reaches the Market, impacting potential revenue streams. Post-approval surveillance necessitates active monitoring and reporting, adding costs and resources for market players and regulatory authorities. Therefore, the stringent government regulation will challenge the Market’s growth.
Some of the major players operating in the global epilepsy drugs market are:
• Abbott Laboratories
• Bausch Health Companies, Inc.
• GlaxoSmithKline plc
• H. Lundbeck A/S
• Johnson & Johnson
• Novartis AG
• Sumitomo Pharma Co., Ltd.
• UCB S.A.
• Viatris Inc.
Key Segments covered in the Market:
By Drug Class
• First Generation Drugs
• Second Generation Drugs
• Third Generation Drugs
By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
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About the report:
The Market is analyzed based on value (USD Billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirement whether they are looking to expand or planning to launch a new product in the global market.
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