Continuous R&D in second- and third-generation anti-epileptic drugs (AEDs) is anticipated to pave the way to new opportunities for pharmaceutical companies in the market
Wilmington, Delaware, United States, Oct. 31, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global epilepsy therapeutics market is projected to surpass US$ 14.9 Bn by 2031, expanding at a CAGR of 3.5% from 2022 to 2031.
Considerable adoption of anti-epileptic drugs (AEDs) in the treatment of different types of seizures in patients is a key factor that is expected to fuel the epilepsy therapeutics market. Need for unconventional/novel therapeutic approaches for drug-resistant epilepsy is likely to increase considerably in the next few years. The trend is ascribed to significant patient population who do not get relief from seizures from current medications. Increase in incidence of new-onset epilepsy in the geriatric population is expected to broaden market size.
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Key Findings of Study
High Rate of Adoption of Second-generation Anti-Epileptic Drugs
Significant adoption of anti-seizure medications among the patient population is bolstering market growth. Rise in patient populations who are at significant risk of pre premature deaths and injuries even after taking AEDs is a key factor that is likely to offer lucrative business opportunities to companies in the near future. Increase in usage of anti-seizure medications for the treatment of focal-onset seizures in adults with epilepsy is likely to boost the market. Based on route of administration, the oral segment accounted for the leading market share in 2021. Oral therapeutics are widely preferred among patients, due to convenience of intake for a long period.
Rise in Demand for Novel Drug-resistant Epilepsy Therapeutics
Based on product, the second-generation epilepsy therapeutics segment is anticipated to account for the dominant market share during the forecast period. High rate of adoption of these therapeutics is ascribed to their safety and tolerability. Second-generation AEDs are widely utilized treatment for epilepsy. These are effective in controlling seizures and subsequently enhance QoL in the patients.
Key Growth Drivers of Epilepsy Therapeutics Market
- Epilepsy, along with recurrent seizures characterizing the disease, contributes to a significant proportion of the of the world’s burden of non-communicable neurological disorders. The WHO recent published factsheet (February, 2023) estimated that 5 million people are diagnosed with epilepsy each year, and it is one of the most common chronic neurological diseases. Pressing need to reduce the disease prevalence is expected to drive the epilepsy therapeutics market.
- Increase in research in development of innovative therapeutic strategies for the treatment of epilepsy, including both pharmacological and non-pharmacological approaches, is anticipated to bolster the epilepsy therapeutics market.
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Regional Landscape
Rise in Development of Novel Anti-Epileptic Drugs in North America
North America constituted 50.0% share of the global market in 2021. The U.S. is the leading market in the region. Increase in prevalence of epilepsy in the adult population in the U.S. is anticipated to create significant demand for novel therapeutic approaches. According to most recent data from the National Health Interview Survey (NHIS), the prevalence of active epilepsy was high in the nation‒1.1% of U.S. adults reported active epilepsy‒in 2021. Introduction of third-generation anti-epileptic drugs in North America is likely broaden market outlook in the region. Increase in demand for third-generation antiseizure medications in the region is anticipated to offer rapid growth opportunities for market players. An instance is approval of brivaracetam, cenobamate, eslicarbazepine acetate, lacosamide, and perampanel for adjunctive treatment of focal-onset seizures in adults.
Asia Pacific is Witnessing Untapped Demand
The market in Asia Pacific is projected to grow at a rapid pace in the next few years. Increase in adoption of anti–seizure medications by patient population in Asia Pacific is anticipated to propel the market in the region. Demand for common anti-seizure medications is high in Asia, due to considerable prevalence of the disease in low- and middle-income countries. Companies in the market are likely to tap into unmet need (unmet need because of stigma and discrimination faced by patients and their caregivers) for these therapeutics in these countries in Asia Pacific.
Competition Landscape
A few companies hold majority stake in the global epilepsy therapeutics market. Leading players are focusing on research and development in novel therapeutic approaches for the disease. Key strategies include AMPA receptors (AMPAR), inflammatory pathways, and the mammalian target of rapamycin (mTOR) pathway. Alliances is a notable competitive strategy adopted by most prominent companies in order to augment their market share.
Key players in the epilepsy therapeutics market are
- Pfizer Inc.
- UCB S.A.
- Bausch Health Companies Inc.
- Novartis AG
- GlaxoSmithKline plc.
- Eisai Co
- Teva Pharmaceutical Industries Ltd.
Segmentation
The global epilepsy therapeutics market has been segmented based on
Product
- First Generation Epilepsy Therapeutics
- Second Generation Epilepsy Therapeutics
- Third Generation Epilepsy Therapeutics
Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
- Europe
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