MARKET OVERVIEW- EUROPE 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. Antiepileptic drugs prevent or treat seizures or convulsions by regulating abnormal brain electrical activity. They are also used to treat fibromyalgia, restless leg syndrome, bipolar disorder, nerve pain, and migraine headaches. Antiepileptic drugs come in many different varieties. Antiepileptic drugs also known as an anticonvulsant and an antiseizure medication. Vimpat, lyrica, keppra aptiom, banzelfycompa, mysoline, zarontin, carbatrol, topamax, and luminal are some of the examples of antiepileptic drugs. Leading players in this market are currently concentrating on introducing medications with fewer adverse effects for patients. In addition, they are concentrating on improving the drugs' ability to effectively manage epileptic symptoms. These are the factors that are contributing to a positive impact on the growth of the European antiepileptic market over the foreseen period.
MARKET DRIVERS
Consumer demand is anticipated to rise as a result of the high susceptibility risk associated with epilepsy in seniors. In addition, due to the need for treatment and the prevalence of epilepsy in Europe, the antiepileptic drug market will expand during the forecast period. According to the World Health Organization's update of February 2022, approximately 50 million people worldwide have epilepsy, making it one of the most prevalent neurological conditions globally. An estimated 49 out of every 100,000 people diagnosed with epilepsy each year live in high-income nations. This is because the risk of endemic diseases like malaria and neurocysticercosis is higher, the rate of injuries caused by traffic accidents; injuries caused by birth are more common, and there are variations in the accessibility of medical care, preventative health programs, and the medical infrastructure. These are the major factors that contribute to the market's expansion over the forecast period.
MARKET OPPORTUNITY
The research and development of novel pharmacological and non-pharmacological therapies with a focused approach bears a great deal of responsibility for enhancing patients' symptoms and quality of life, as well as that of caregivers.
In addition, some of the major factors that are anticipated to develop new market growth opportunities for major players operating in the Europe antiepileptic market are focusing on research projects to develop precise treatment options.
MARKET RESTRAINTS
The market's growth has slowed as a result of traditional procedures, which take a long time and cost a lot of money. The European antiepileptic drug market's expansion was also hampered by the adverse effects of antiepileptic medications on liver and skin conditions.
MARKET GROWTH CHALLENGES
A key challenge that may affect the growth of the market includes the high cost, inconsistent or non-regular availability over time, lack of official approval, and lack of reimbursement for AEDs. These are the major challenges for European nations over the forecast period. In certain areas of Europe, neurological abnormalities are still considered taboo. Therefore, rather than revealing them and receiving treatment, people attempt to hide such problems. These are some of the challenges that are facing the market over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of Europe 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.
EUROPE ANTIEPILEPTIC DRUGS MARKET SEGMENTAL OVERVIEW
The Europe antiepileptic drugs market comprises of different market segments like, drug type, form, administered route, distribution channel and country.
EUROPE ANTIEPILEPTIC DRUGS MARKET BY SIZE
By drug type, the Europe antiepileptic drugs market includes key segments like
- First Generation
- Second Generation
- Third Generation
On the basis of drugs type the Europe antiepileptic drugs market includes key segments like first generation, second generation, and third generation. Antiepileptic drugs include those that block ion channels (Na+ and Ca2+) and inhibit GABA reuptake, among other mechanisms of action. The second-generation segment is anticipated to dominate the market over the projected time period. Vimpat, lyrica, keppra aptiom, banzelfycompa are the some of the examples of second-generation antiepileptic drugs.
EUROPE ANTIEPILEPTIC DRUGS MARKET BY FORM
By form, the Europe antiepileptic drugs market includes key segments like
On the basis of form the Europe antiepileptic drugs market includes key segments like dry and liquid. Antiepileptic drugs (AEDs) are usually the first choice of treatment. In the absence of gastrointestinal issues, the tablets are intended to deliver maximum therapeutic response or produce rapid therapeutic effects. The dry form of drugs mostly includes tablets, which allow them to be absorbed into the bloodstream through the intestinal wall and distributed throughout the body (absorption).
EUROPE ANTIEPILEPTIC DRUGS MARKET BY ADMINISTERED ROUTE
By administered route, the Europe antiepileptic drugs market includes key segments like
- Oral
- Vein Injections/Intravenous
On the basis of administered route, the Europe 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. This is due to their convenience, safety and ease of use. The drugs for the long-term treatment of epilepsy are frequently taken orally.
EUROPE ANTIEPILEPTIC DRUGS MARKET BY DISTRIBUTION CHANNEL
By distribution channel, the Europe antiepileptic drugs market includes key segments like
- Offline Channels
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Platforms
On the basis of distribution channel, the Europe 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. Hospital pharmacies provide specifications for the purchase of drugs, clear control of inventory, help in understanding medications, and assist in specialized medical care.
EUROPE ANTIEPILEPTIC DRUGS MARKET BY COUNTRY
The Europe antiepileptic drugs market is studied for the following countries
- UK
- Germany
- France
- Spain
- Italy
- Rest of Europe
On the basis on country, the Europe antiepileptic drugs market is studied in the UK, Germany, France, Spain, Italy, and RoE. The UK is expected to hold the major shares of the Europe antiepileptic market over the forecast period. This is due to extensive research and development and the availability of approved antiepileptics of the second generation. Germany is expected to witness high growth over the projected time period due to its large population and the increasing number of epilepsy cases.
COVID-19 IMPACT ANALYSIS ON EUROPE ANTIEPILEPTIC DRUGS MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Europe antiepileptic market. In addition, complete analysis of changes on the Europe antiepileptic market expenditure, economic and international policies on supply and demand side is provided in this exclusive report. The report also studies the impact of pandemic on global economies, international trade, business investments, and GDP and marketing strategies of key players present in the market. The market has grown in a negative way as a result of worker restrictions on movement, a drop-in consumer demand, and the closure of production facilities. The ongoing COVID-19 pandemic put a strain on the healthcare system and severely affected hospitals that were already overflowing with patients. Common neurological symptoms of COVID-19 infection include delirium, despair, fever, and loss of taste and smell. In rare instances, it may result in stroke and epilepsy. As a result, more effective medications and treatments for epilepsy are required. Additionally, the expansion of the Europe antiepileptic drugs market may be aided by the increased R&D expenditures for COVID-19 medicines.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Europe antiepileptic drugs market is primarily focused on expanding the growth of antiepileptic drugs industry with new product innovation, business expansion, increasing presence of range of manufacturer operating in Europe 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
- Sanofi S.A. (France)
- Novartis International AG (SW)
- Endo Health Solutions, Inc (Ireland)
- GlaxoSmithKline plc (UK)
- Medtronic plc (Ireland)
- Dragerwerk AG & Co Kgaa (Germany)
- UCB SA (Belgium)
- GW Pharmaceuticals plc. (UK)
RECENT DEVELOPMENT:
April 2021: SK Biopharmaceuticals, Co., Ltd., a global innovative pharmaceutical company, announced plans to launch ONTOZRY in Europe. ONTOZRY is for the adjunctive treatment of focal-onset seizures with or without secondary generalization in adult patients who have not been sufficiently controlled by a history of treatment with at least two anti-epileptic medicinal products.
