The global Epilepsy Therapeutics market was worth around USD 13 billion in 2021 and is estimated to grow to about USD 18.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.5 percent over the forecast period
Epilepsy Therapeutics Market
The global Epilepsy Therapeutics market was worth around USD 13 billion in 2021 and is estimated to grow to about USD 18.1 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.5 percent over the forecast period The report analyzes the Epilepsy Therapeutics market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Epilepsy Therapeutics market.
Epilepsy Therapeutics refers to chronic neurological disorder which causes constant and unfounded seizures. An individual suffering from Epilepsy Therapeutics tends to have seizures with no explanation. In Epilepsy Therapeutics, the brain activity becomes abnormal, resulting in recurrent seizures that are short episodes of involuntary movement, which may involve a part of the body or the entire body. The increase in the number of accidents and brain injuries and the high rate of post-traumatic Epilepsy Therapeutics (PTE) and post-traumatic seizure (PTS) occurrence in patients with brain injuries are the major factors driving the Epilepsy Therapeutics treatment market.
Furthermore, innovation of new treatment products with better efficiency is expected to further drive this market. Rising number of mergers and acquisitions, new product launches, and increasing number of collaborations and partnerships are some of the latest trends that have been observed in the global Epilepsy Therapeutics market. Besides development of new drugs and treatment options, approval and launch of new products extend profitable opportunities to the Epilepsy Therapeutics treatment market players in the forecast period.
In Addition, development of highly efficacious products, having less side-effects, and better outcomes are likely to propel the Epilepsy Therapeutics market Neurological disorders have become a matter of concern for medical researchers who are looking at optimizing medical treatments. Furthermore, the adoption of anti-epileptics due to increasing seizures and Epilepsy Therapeutics cases, and a rise in research and development is driving the growth of Epilepsy Therapeutics market. .However, factors such as lack of awareness about the condition some developing regions and reluctance to adopt Epilepsy Therapeutics medications in some regions are restraining the growth of the Epilepsy Therapeutics market over the upcoming years.
The new coronavirus has spread worldwide in a relatively short period and has become a pandemic. Many affected patients have symptoms such as dry cough, tiredness, dyspnea, and fever. However, the infection with Covid-19 disrupts multiple tissues, including the kidney, liver, and nervous system. Common neurological symptoms of Covid-19 infection include delirium, depression, fever, and loss of smell and taste. It can cause stroke and epilepsy in rare cases. Furthermore, due to concerns about patient-to-patient transmission, standby admissions in hospitals with COVID-19 inpatients or in areas with widespread COVID-19 infection have been severely limited.
According to an article published in March 2020 titled "Epilepsy and COVID-19: Updated Evidence and Narrative Review," a survey of 212 pediatric neurologists from 49 countries found that in-person outpatient visits have decreased, and telemedicine use has increased during the pandemic. This has risen the demand for efficient epilepsy cures and medications.
Moreover, the growing R&D investments towards COVID 19 treatments may also contribute towards the epilepsy market growth.
Governmental initiatives to improve the healthcare sectors and higher investments in R&D is anticipated to expand at a notable growth of Epilepsy Therapeutics market during the forecast period. Rise in the number of approvals by government bodies is providing beneficial for the patients in controlling the seizures. This is projected to fuel the adoption of anticonvulsant and boost the market growth over the upcoming years.
One of the major factors restraining the growth of Epilepsy Therapeutics market during the forecast period is steep rise in medicine shortage. Patients are stockpiling these medicines as there is a shortage of drugs in pharmacies which has raised an alarm in investigating the medicine supply chain globally. This is ultimately affecting the global Epilepsy Therapeutics market as the market becomes less desirable for Epilepsy Therapeutics medications.
The global Epilepsy Therapeutics market is segregated based on Product, distribution channel, end-user, and region.
Based on distributional channel, the global Epilepsy Therapeutics market can be segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment is projected to dominate the global market. growing number of hospitals, along with adequate reimbursement policies provided by these settings, are some of the major factors responsible for higher growth of hospital pharmacy over the upcoming years. This is eventually responsible for the adoption of antiepileptic drugs by the hospital pharmacies globally.
Based on product market has been classified into first generation Epilepsy Therapeutic second-generation Epilepsy Therapeutics and third generation Epilepsy Therapeutics. The second-generation epilepsy therapeutics segment is expected to hold a significant share of the global epilepsy therapeutics. This is due to increased penetration in the market and better effectiveness as compared to first generation Epilepsy Therapeutics
|Historic Years||2018 - 2022|
|Forecast Years||2023 - 2030|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2023 to 2030|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
North America dominates the global market for Epilepsy Therapeutics during the forecast period. This is majorly due to higher investments in R&D, increasing awareness and availability of advanced Epilepsy Therapeutics drugs in this region. Moreover, improved healthcare facilities are driving the market for Epilepsy Therapeutics in North America during the forecast period.
Asia Pacific is witnessing a significant growth in the global Epilepsy Therapeutics market over the upcoming years. Due government initiatives in the field, Increased awareness and technological advancement in field is fueling the growth of global Epilepsy Therapeutics market.
Some of the main competitors dominating key players functioning in the global Epilepsy Therapeutics market include. BIAL - PORTELA & CA SA, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc., SanofiSA, Sunovion Pharmaceuticals Inc., UCB SA and Zogenix Inc.
Innovation of new treatment products with better efficiency is expected to drive the market growth. Rising number of mergers and acquisitions, new product launches, and increasing number of collaborations and partnerships are some of the latest trends that have been observed in the global epilepsy therapeutics market.
According to the Zion Market Research report, the global Epilepsy Therapeutics market was worth around USD 10.10 billion in 2021 and is estimated to grow to about USD 12.13 billion by 2028, with a compound annual growth rate (CAGR) of approximately 3.10 percent over the forecast period.
North America is expected to dominate and account for a prominent share of the global epilepsy market during the forecast period due to. High awareness among patient population towards new treatment and higher availability of R & D. During the forecast period, the global market is predicted to rise at a rapid pace, with Asia leading the way, followed by Europe. India and China are predicted to be the Asia Pacific region's fastest-expanding epilepsy therapeutics markets.
Some of the main competitors dominating key players functioning in the global Epilepsy Therapeutics market include BIAL - PORTELA & CA SA, GlaxoSmithKline Plc, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc., Sanofi SA, Sunovion Pharmaceuticals Inc., UCB SA and Zogenix Inc.