The global epilepsy therapeutics market was valued at US$
12.9 Bn in 2018. It is projected to expand at a compound annual growth rate
(CAGR) of 3.4% from 2019 to 2027 according to a new report published by
Transparency Market Research (TMR) titled “Epilepsy Therapeutics Market
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027”
the report suggests that increase in the geriatric population and number of
epilepsy cases is expected to propel the epilepsy therapeutics market in the near future.
North America is expected to dominate the global market, owing to the rise in
patient population, high geriatric population, and availability of advanced
drugs. The market in Asia Pacific is expected to expand at a CAGR of 4.4%
during the forecast period, due to the increasing geriatric population, rising
awareness, and growing patient population in the region. Moreover, research and
development activities and initiatives by governments in the healthcare sector
are anticipated to further boost the market in Asia Pacific.
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Value added features in
epilepsy therapeutics to fuel global market
The global epilepsy therapeutics market is expected to be
driven by the advanced and high efficacy epilepsy therapeutics to provide
appropriate treatment, generating positive outcomes by preventing rapid,
repetitive, stimulation of the brain that causes seizures. According to WHO,
globally, around 2.4 million people are anticipated to be diagnosed with
epilepsy every year. Worldwide, approximately, more than 50 million people have
epilepsy, thereby making epilepsy a highly common neurological disease,
globally. It is anticipated that 70% people suffering with epilepsy could live
seizure-free if appropriately diagnosed and effectively treated. Key players
offering epilepsy therapeutics in the market are thriving for approvals for new
epilepsy therapeutics from government bodies, launching more advanced epilepsy
therapeutics, providing effective treatment with fewer side-effects, thus
providing an ameliorate product than the existing products in the market.
Third generation epilepsy
therapeutics is projected to be highly lucrative product segment
According to Epilepsy Society, anti-epileptic drugs
(AEDs) are the main type of treatment for most people with epilepsy. Up to 70%
of people could get rid of seizures with accurate medication. Anti-epileptic
drugs (AEDs) are a type of medication that aims to prevent seizures from
occurring. Third generation epilepsy therapeutics have been introduced in the
last few years, thereby possessing enhanced pharmacokinetics and
pharmacodynamics. Third generation epilepsy therapeutics have multiple diverse
molecular mechanisms of action, thereby offering a novel and advantageous
approach to treat epilepsy, specifically in patient population undergoing
refractory seizures. Furthermore, third generation epilepsy therapeutics are
considered to offer milder adverse effects, better tolerability, less hormonal
or drug interactions, and enhanced pharmacokinetic characteristics as compared
to that of first generation therapeutics and second generation
therapeutics.
Hospital pharmacy segment is estimated to dominate the
epilepsy therapeutics market
In terms of distribution channel, the hospital pharmacy
segment held a leading share of the global epilepsy therapeutics market in
2018. It is anticipated to gain market share by the end of 2027 and expand at a
CAGR of 4.1% during the forecast period. Surge in incidence of epilepsy,
improving epilepsy diagnosis rate, increasing hospitalization and emergency
department visits for epilepsy, rising number of brain injuries, increasing
genetic disorders, congenital defects, and surging number of neurologists and
epileptologists drive the hospital pharmacy segment of the global epilepsy
therapeutics market. Furthermore, rising number of hospitals and increasing
network of key players with hospitals and medical professionals & related
care have led to the dominant share held by the hospital pharmacy segment of
the global epilepsy market.
North America dominates
the global epilepsy therapeutics market, while Asia Pacific offers significant
opportunities.
North America accounts for key share of the global
epilepsy therapeutics market. The market in the region is likely to expand
during the forecast period, due to the rapid rise in geriatric population,
increase in pool of patients, and surge in research and development to provide
more efficient and advanced products. Moreover, growing numbers of players and
their increasing mergers and acquisitions, rising government approvals for the new
products, along with the growing adoption of advanced products are driving the
epilepsy therapeutics market in North America. The market in Asia Pacific is
anticipated to expand at a rapid pace during the forecast period. Growing
geriatric population, rising prevalence of neurological disorders, increasing
research and development, extensive government initiatives in the healthcare
sector, and growing presence and investments by global key players in Asia
pacific are boosting the epilepsy therapeutics market in the region.
Development of advanced
and efficient drugs and rising product approvals are key strategies adopted by
leading players
The report also provide profiles of leading players
functioning in global epilepsy therapeutics market. UCB S.A., Teva
Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc., and Eisai Co.,
are leading players operating in the global epilepsy therapeutics market, which
account for a significant share. Companies functioning in the epilepsy
therapeutics market are focused on strengthening their geographic presence
through product approvals by government bodies, collaborations, strategic
acquisitions, and mergers with other market players in respective domains and
geographies. Strong progressive research and development activities and product
pipelines and increasing product approvals are key strategies adopted by these
players in order to consolidate their position in the global epilepsy
therapeutics market.
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