MARKET OVERVIEW- NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET
The tendency to have recurrent seizures that are unrelated to systemic or acute neurologic insults is known as epilepsy. It has no known cause, but major risk factors include substance use disorders, brain injury, brain tumours, and stroke. Antiepileptic drugs, also known as anticonvulsants or antiseizure drugs, are a diverse group of pharmacological agents used in the treatment of epileptic seizures. Antiepileptics are also increasingly being used in the treatment of bipolar disorder, borderline personality disorder, and neuropathic pain, because many of them appear to act as mood stabilizers. Generalized seizures (absence, atonic, tonic-clonic, and myoclonic) and partial seizures (simple and complex) are the two main types of epileptic seizures.
Antiepileptic drugs are generally used to treat illnesses such as migraine, epilepsy, neuropathic pain, and bipolar disorders. The choice of the antiepileptic drug depends on the patient's age, the type of seizures to be treated, and the severity of the seizures. The growth of the North American antiepileptic market is driven by the increasing awareness of neurological disorders, and a high adaptation of antiepileptic drugs in the region is anticipated to positively contribute to the growth of the market.
MARKET DRIVERS
The emergence of novel, efficacious anti-epileptic drugs and the growing prevalence of epilepsy and seizure disorders in North America are the major factors driving market growth over the foreseen period. In addition, the growing prevalence of epilepsy is also contributing to a positive impact on the growth of the North American antiepileptic market over the foreseen period. Additionally, strategic alliances and rising awareness of epilepsy are anticipated to increase market expansion in North America over the forecast period.
MARKET OPPORTUNITY
The market is expected to have new opportunities with advancements and ongoing R&D activities to develop quality antiepileptic drug products. This is expected to provide ample new growth opportunities in the market during the forecast period.
There are a number of factors that will increase the market's growth opportunity in the future, including an increase in the incidence of serious injuries while impaired by alcohol or drugs, an increase in stress and depression, and the desire for a successful life. In addition, increasing epilepsy incidences, neurological disorders, birth-related injuries, and new drug approvals also contribute to increasing opportunities in the future.
MARKET RESTRAINTS
Hepatotoxicity, nephrolithiasis, obesity, mental sluggishness, skin problems, and a wide range of other conditions are among the potential side effects of these medications that are anticipated to hinder the market for antiepileptic drugs market growth in North America 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. That include hepatotoxicity, nephrolithiasis, obesity, mental sluggishness, skin issues, and numerous other conditions. In addition, the high cost of patent drugs and low accessibility to epileptic drugs are the major challenges for antiepileptic market growth in North America. Furthermore, the lack of knowledge and adverse reactions caused due to drugs, drug-induced seizures are also responsible to hindered the market growth over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of North America 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.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET SEGMENTAL OVERVIEW
The North America antiepileptic drugs market comprises of different market segments like, drug type, form, administered route, distribution channel and country.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET BY SIZE
By drug type, the North America antiepileptic drugs market includes key segments like
- First Generation
- Second Generation
- Third Generation
On the basis of drugs type the North America 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. When compared to other drugs, second-generation AEDs have a more favourable side effect profile and a lower risk of teratogenesis. It decreases drug-drug interactions, has a less negative effect on cognitive function, and causes fewer life-threatening adverse events. In addition, it is used in an acute setting due to its high efficacy and fast onset of action.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET BY FORM
By form, the North America antiepileptic drugs market includes key segments like
On the basis of form the North America antiepileptic drugs market includes key segments like dry and liquid. Antiepileptic drugs (AEDs) are usually the first choice of treatment. Liquid dosage forms are useful for people who find it trouble to swallow solid forms of medication. In dry form, the tablets are most likely to be used due to their convenience and ease of use.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET BY ADMINISTERED ROUTE
By administered route, the North America antiepileptic drugs market includes key segments like
- Oral
- Vein Injections/Intravenous
On the basis of administered route, the North America 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. However, vein injections/intravenous segment is projected to significant growth rate over the foreseen period. This is due to its great way to get the drug into the bloodstream because it bypasses the digestive system and delivers the substance right into the bloodstream.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET BY DISTRIBUTION CHANNEL
By distribution channel, the North America antiepileptic drugs market includes key segments like
- Offline Channels
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Platforms
By distribution channel, the North America 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 North America antiepileptic market over the forecast period. The retail pharmacies are expected to witness high growth over the projected time period. The growth of the segment is to be attributed to the availability of drugs and increasing physical visits.
NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET BY COUNTRY
The North America antiepileptic drugs market is studied for the following countries
- US
- Canada
- Mexico
- Rest of North America
On the basis on country, the North America antiepileptic drugs market is studied in the US, Canada, Mexico. The US is expected to hold the major shares of the antiepileptic market over the forecast period. This is due to the government efforts to raise awareness of the condition, the available treatments, as well as favourable reimbursement scenarios. In addition, expanding the market in North America will be sped up by the development of products with better outcomes, greater efficacy, and fewer side effects.
COVID-19 IMPACT ANALYSIS ON NORTH AMERICA ANTIEPILEPTIC DRUGS MARKET
The coronavirus (COVID-19) pandemic and lockdowns in various countries have impacted the financial status of organizations across all sectors. The outbreak had a negative impact not only on epilepsy patients but also on treatment centres. This is due to the disruption caused by the COVID-19 pandemic to a number of neurology-related activities, such as medical training and research. According to an article titled "Epilepsy and COVID-19: Updated Evidence and Narrative Review," a survey of 212 paediatric neurologists from 49 nations found that telemedicine use increased during the pandemic while in-person outpatient visits decreased. As a result, COVID-19 has had a significant impact on the market's initial expansion. However, the market is expected to expand in the coming years due to the rise in new drug approvals and increasing cases of epilepsy.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of North America antiepileptic drugs market is primarily focused on expanding the growth of North America antiepileptic drugs industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in North America 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
- Valeant Pharmaceuticals International (Canada)
- Pfizer Inc (US)
- Sunovion Pharmaceuticals (US)
- Cephalon Inc (US)
- Cadwell Industries Inc (US)
- Boston Scientific Corporation (US)
- Abbott Laboratories (US)
- Johnson & Johnson Services Inc. (NJ)
- Novartis AG (US)
- Xenon Pharmaceuticals (Canada)
- SK Life Science, Inc. (US)
- Sorrento Therapeutics (US)
RECENT DEVELOPMENT:
June 2021: Glenmark Pharma announced the launch of the anti-epileptic drug Rufinamide tablets in the US market. Rufinamide tablets USP are available in strengths of 200 mg and 400 mg, which are equivalent to Banzel tablets, 200 mg and 400 mg, of Eisai, Inc.
February 2021: Dr Reddy's launches Vigabatrin tablets, an antiepileptic drug, in the US market after receiving approval from the US Food and Drug Administration (USFDA). The FDA has designated this product as a competitive generic therapy (CGT).
