MARKET OVERVIEW- GLOBAL ANTIEPILEPTIC DRUGS MARKET
Epilepsy is a neurological disorder of the central nervous system in which abnormal brain activity results in seizures or periods of unusual behaviour, sensations, and sometimes loss of consciousness. Epilepsy is the most common brain disorder that affects people of all ages. Epilepsy has no known cause, but major risk factors include substance use disorders, brain injury, brain tumours, and stroke. Antiepileptic drugs (AEDs) are prescribed to treat epilepsy. The choice of drug depends on the patient's age, the type of seizures to be treated, and the severity of the seizures.
Antiepileptic drugs (AEDs) are also known as anticonvulsants or antiseizure drugs and are used in the symptomatic treatment of epileptic seizures. An antiepileptic is a type of drug that is used to prevent or treat seizures or convulsions by controlling abnormal electrical activity in the brain. Epilepsy and other seizure disorders are treated with antiepileptics. They are also used to treat medical conditions like bipolar disorder, nerve pain, fibromyalgia, restless leg syndrome, and migraine headaches. Anti-epileptic drug therapy is the main treatment for this disorder, which is characterized by recurrent seizures.
MARKET DRIVERS
Factors that drive the market's growth include the emergence of novel, efficacious anti-epileptic drugs and the growing prevalence of epilepsy and seizure disorders. According to the World Health Organization's update of February 2022, approximately 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. In high-income countries, there are an estimated 49 out of every 100,000 patients that are diagnosed with epilepsy each year. This is due to the increased risk of endemic conditions such as malaria and neurocysticercosis; the higher incidence of road traffic injuries; birth-related injuries; and variations in medical infrastructure, the availability of preventive health programs, and accessible care. Such a high burden of epilepsy creates the requirement for treatment and thus drives the growth of the antiepileptic drug market during the forecast period.
MARKET OPPORTUNITY
In order to improve patients symptoms and their quality of life, as well as that of the caregivers, there is a great deal of responsibility placed on the R&D of novel pharmacological and non-pharmacological therapies with a focused approach. Substantial clinical pipeline and investigational studies for the development of novel antiepileptic drugs for paediatric and geriatric patients increase the market opportunities over the forecast period. Antiepileptic drugs reduce the risk of seizures in people with epilepsy and are sometimes used as part of the management of people with mood disorders, neuropathic pain, or migraine. Increasing consumption of alcohol, stress, and depression bound with desires for a successful life and proliferating incidences of serious injuries while impaired with alcohol and drugs are factors that increase the market's growth opportunity in future.
MARKET RESTRAINTS
The cognitive adverse effects of medication, disease, pharmacokinetics, and pharmacodynamics of antiepileptic drugs all increase the likelihood of drug therapy complications in epileptic patients, making their management difficult. The antiepileptic drug market is growing despite the rising prevalence of epilepsy, seizures, and other chronic conditions in developing nations. The severe increase in medicine shortages is one of the primary factors hampering market growth. Patients are storing these medications as there is a deficiency of medications in the drug stores. This has raised an alarm in investigating the medicine supply chain worldwide.
Although AED treatment is beneficial for the majority of patients, even when administered early, AEDs do not prevent epilepsy in people at risk of drug-resistant epilepsy. Aggravation of mostly myoclonic or absence seizures by a drug for partial seizures is another problem. Unpredictability of effect and loss of effect during prolonged treatment are another issue with drug treatment. These are the factors that affect the market growth over the forecast period.
MARKET GROWTH CHALLENGES
A key challenge that may affect the growth of the market is the number of health problems associated with the drugs. There are several drawbacks to antiepileptic drugs that deter people from using them. The potential side effects of these drugs include hepatotoxicity, nephrolithiasis, obesity, mental sluggishness, skin issues, and numerous other conditions that are expected to impede the market for antiepileptic medications. Additionally, the prevalence of epilepsy-resistant medications is a major concern for a number of public health authorities. Around one million people worldwide have demonstrated resistance to these medications, which would force the development of newer lines of medications. In some parts of the world, talking about such neurological abnormalities is still considered taboo. Therefore, rather than revealing them and receiving a treatment, people try to hide such complications, which can strangle the growth in the respective market.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of antiepileptic drugs market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for antiepileptic drugs in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
GLOBAL ANTIEPILEPTIC DRUGS MARKET SEGMENTAL OVERVIEW
The global antiepileptic drugs market comprises of different market segments like, drug type, form, administered route, distribution channel and geography.
GLOBAL ANTIEPILEPTIC DRUGS MARKET BY SIZE
By drug type, the global antiepileptic drugs market includes key segments like
- First Generation
- Second Generation
- Third Generation
On the basis of drugs type the global antiepileptic drugs market includes key segments like first generation, second generation, and third generation. The second-generation segment is anticipated to dominate the market over the projected time period. The second-generation medication includes vimpat, lyrica, keppra aptiom, banzelfycompa. These drugs work by either controlling the impulse or increasing inhibition. In addition, they are capable of altering the electrical activity of neurons and influencing the pore-forming membrane proteins, also known as ion channels. The first-generation segment includes mysoline, zarontin, carbatrol, topamax, luminal.
GLOBAL ANTIEPILEPTIC DRUGS MARKET BY FORM
By form, the global antiepileptic drugs market includes key segments like
On the basis of form the global antiepileptic drugs market includes key segments like dry and liquid. Antiepileptic drugs (AEDs) are usually the first choice of treatment. About 70% of people with epilepsy have their seizures controlled with AEDs when they are taking the prescribed drugs regularly. Patients treated with liquid formulations maintained optimum therapeutic drug concentrations, and more than eighty percent of patients' plasma drug concentrations were within the optimal therapeutic window.
GLOBAL ANTIEPILEPTIC DRUGS MARKET BY ADMINISTERED ROUTE
By administered route, the global antiepileptic drugs market includes key segments like
- Oral
- Vein Injections/Intravenous
On the basis of administered route, the global antiepileptic drugs market includes key segments such as oral, and vein injections/intravenous.
The oral segment is expected to hold the major shares of the antiepileptic market over the forecast period. For the chronic treatment of epilepsy, the medications are frequently administered orally. Oral administered route has advantages include safety, good patient compliance, ease of ingestion, pain avoidance, and versatility to accommodate various types of drugs. IV therapy is an excellent delivery method because it bypasses the digestive system and delivers the substance right into the bloodstream. This is a straightforward delivery method that is much faster, gets faster relief, and produces better results where the patients are taking medication for chronic illnesses.
GLOBAL ANTIEPILEPTIC DRUGS MARKET BY DISTRIBUTION CHANNEL
By distribution channel, the global antiepileptic drugs market includes key segments like
- Offline Channels
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Platforms
On the basis of distribution channel, the global antiepileptic drugs market includes key segments like offline channels, hospital pharmacies, retail pharmacies, drug stores, online platforms. The offline segment is expected to hold the major shares of the antiepileptic market over the forecast period. This is due to the full-fledged and all-encompassing nature of offline facilities as compared to online. Offline platforms like pharmacies and hospitals are present in pastoral areas as well; they serve as the first point of contact.
GLOBAL ANTIEPILEPTIC DRUGS MARKET BY COUNTRY
The global antiepileptic drugs market is studied for the following countries
- North America
- Asia Pacific
- Europe
- RoW
The North America is projected to lead the market during the forecast period. This is due to the rising burden of epilepsy coupled with the strategic initiatives, awareness campaigns, and launches of new products by the market players. In addition, factors such as the high quality of healthcare infrastructure, which is promoting better treatment and diagnosis rates, high living standards due to affluent economies, people living in these countries being considered to be more health-conscious and financially capable of undergoing curing treatments, extensive research and development activities in the neurology field, and the presence of pharmaceutical industries in this region. These are the factors that propel the market growth over the forecast period. However, Asia-Pacific is expected to experience significant growth over the forecast period owing to an escalation in the prevalence of neurological disorders.
COVID-19 IMPACT ANALYSIS ON GLOBAL ANTIEPILEPTIC DRUGS MARKET
The COVID-19 pandemic has adversely affected almost all the sectors. The movement restrictions of workers, a decline in demand from consumers, and the closure of production facilities has negatively impacted the growth of the market. In addition, the COVID-19 outbreak has had a significant impact on the market's growth as several neurology activities, such as medical training and research, were disrupted due to the pandemic. The outbreak had a negative impact not only on epilepsy patients but also on treatment centres. Due to the possibility of SARS-CoV-2 transmission from a healthcare provider to a patient, access to healthcare facilities was severely restricted.
Additionally, many companies skipped the follow-up for patients who were already in the trials. Product development has learned to adapt to remote work environments, and lab capacity is being redistributed. Additionally, disruptions in the enrolment of new patients and the continuation of therapy for existing patients have a negative impact on clinical trials. A few kinds of epilepsy may be caused by a change in the body's immune function, called autoimmune epilepsy, and might be treated with immunotherapy. An individual taking any of these drugs might be at higher risk of developing a serious form of COVID-19. However, this is expected to resume the antiepileptic drugs market's growth during the forecast period. Additionally, the region's market is anticipated to expand during the forecast period as a result of the growing prevalence of epilepsy and seizure disorders.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of antiepileptic drugs market is primarily focused on expanding the global growth of antiepileptic drugs industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in antiepileptic drugs sector has led the growing demand for the market. Besides, the market offers range of products in different application to fulfil the required demand of consumer which is further contributing healthy growth in the market.
The key players studied in market are
- Abbott Laboratories (US)
- Johnson & Johnson (US)
- Sanofi S.A. (France)
- Valeant Pharmaceuticals International (Canada)
- UCB Pharma (Belgium)
- GlaxoSmithKline (UK)
- Pfizer Inc (US)
- Novartis International AG (SW)
- Sunovion Pharmaceuticals (US)
- Cephalon Inc (US)
RECENT DEVELOPMENT:
January 2020: Eisai Co., Ltd. announced the launch of FYCOMPA in China for the treatment of partial-onset seizures in patients over the age of 12 and older. It is a first-in-class AED and a once-daily tablet discovered at Eisai's Tsukuba Research Laboratories, indicated for monotherapy and adjunctive therapy.
