The global Antiepileptic Drugs Market is estimated to be valued at US$ 7.01 Bn or billion in 2023 and is expected to exhibit a CAGR of 3.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview
Antiepileptic drugs, also known as anticonvulsants or anti-seizure medications, help control seizures in epilepsy patients and prevent them from occurring. These drugs include gabapentin, lamotrigine, carbamazepine, levetiracetam, phenytoin, and valproate.
Market key trends:
One of the key trends in the antiepileptic drugs market is the shift from the first generation anti-seizure drugs to new generation drugs. The older first generation drugs including phenytoin, carbamazepine, and valproate are associated with more side effects as compared to the new drugs. Hence, the preference of physicians and patients is shifting towards new generation drugs such as levetiracetam, perampanel, and brivaracetam which have a better safety and tolerability profile. These new drugs also help achieve better seizure control and are available in different dosage forms including oral solutions and injections for easier administration. This shift towards safer and effective new generation anti-seizure medications is expected to drive the growth of antiepileptic drugs market during the forecast period.
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Market key trends:
The antiepileptic drugs market is witnessing rising adoption of newer drug formulations. Newer generation drugs are being increasingly preferred over conventional first-generation drugs due to their improved efficacy and safety profiles. Moreover, focus on development of novel drug delivery methods like controlled release formulations is also driving the market.
SWOT Analysis
Strength: Wide range of treatment options available with drugs having different mechanisms of action. Weakness: Stringent regulatory approvals and high costs associated with drug development. Opportunity: High unmet needs in developing countries and pediatric population. Threats: Patent expiries of blockbuster drugs and introduction of generic versions.
Key Takeaways
The global antiepileptic drugs market size was valued at US$ 7.01 Bn in 2023 and expanding at a CAGR of 3.3% during the forecast period. The growing prevalence of epilepsy coupled with increasing patient awareness levels is driving the market growth.
Regional analysis: North America dominated the market in 2023 and is expected to retain its leading position during the forecast period. This can be attributed to growing aging population, favorable reimbursement policies, and strong presence of key industry players in the region. Asia Pacific is anticipated to witness fastest growth over 2023-2030, owing to rising healthcare expenditure, large patient pool, and increasing focus of key players on expanding in emerging countries.
Key players analysis:
The antiepileptic drugs market is consolidated in nature with top players accounting for majority market share in 2021. Some of the prominent players operating in the antiepileptic drugs market are Novartis AG, GlaxoSmithKline Plc, Johnson & Johnson Service, Inc., Teva Pharmaceutical Industries Ltd., Pfizer, Inc., Zogenix, Dr. Reddy’s Laboratories Ltd., Shanghai Zhimeng Biopharma, Inc., Alkem Labs, SK Biopharmaceuticals, Eisai Co., Ltd., IAMA Therapeutics, Angelini S.p.a, Sun Pharmaceutical Industries Ltd., UCB S.A, Marinus Pharmaceuticals, Inc., Sanofi S.A., Sumitomo Dainippon Pharma Co., Ltd., and Bausch Health Companies Inc.
