The global Antiepileptic Drugs Market is estimated to be valued at US$7.01 Bn 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 are used to manage seizures associated with epilepsy. They help balance brain and nerve cell activity. Some of the commonly prescribed AEDs include valproic acid, clobazam, levetiracetam, carbamazepine, lamotrigine, and phenytoin. The market has witnessed significant growth due to increasing prevalence of epilepsy, improved access to healthcare facilities, and new drug approvals. Major drugs available in the market are gabapentin, lacosamide, pregabalin, and perampanel. These drugs have advanced features such as fewer drug interactions, once-daily dosing, and rapid absorption.
Market key trends:
One of the key trends in the antiepileptic drugs market is growing pipeline of novel drugs. Several pharmaceutical companies are focusing on development of drugs with novel mechanisms of action and improved safety profiles. For instance, Marinus Pharmaceuticals is developing ganaxolone, a positive allosteric modulator of GABA receptors, for treatment-resistant seizures in tuberous sclerosis complex, CDKL5 deficiency disorder, Lennox-Gastaut syndrome and Postpartum depression. Another key trend is increasing generic drug approvals. Approval of low-cost generic versions is expected to boost market growth by improving access and affordability of treatment.
Read More Insights @ https://www.coherentmarketinsights.com/market-insight/antiepileptic-drugs-market-1701
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the development of antiepileptic drugs requiring huge RD investments and lengthy clinical trials. Bargaining power of buyers: The bargaining power of buyers is moderate due to the presence of a large number of established players and availability of generics. Bargaining power of suppliers: The bargaining power of suppliers is low as the raw materials used in manufacturing antiepileptic drugs are commodity products. Threat of new substitutes: The threat of new substitutes is low as there are limited treatment alternatives for epilepsy other than antiepileptic drugs. Competitive rivalry: Competition is high among the key players to gain higher market share.
Key Takeaways
The global Antiepileptic Drugs Market is expected to witness high growth, exhibiting CAGR of 3.3% over the forecast period, due to increasing prevalence of epilepsy globally.
Regional analysis
North America dominates the global antiepileptic drugs market, owing to the presence of major market players and high healthcare expenditure. Asia Pacific is expected to grow at a high CAGR during the forecast period due to the large patient pool and growing awareness regarding epilepsy treatment.
Key players
Key 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.
