MARKET OVERVIEW- ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET
Epilepsy is a disorder of the brain characterized by repeated seizures. Typically, a seizure is characterized by a sudden shift in behaviour as a result of a temporary change in the electrical functioning of the brain. Normally, the brain continuously produces orderly patterns of minute activity. During a seizure, a person experiences abnormal behaviour, symptoms, and sensations that may even result in unconsciousness. Antiepileptic drugs (AEDs) are otherwise called anticonvulsants or antiseizure tranquilizers and are utilized in the symptomatic treatment of epileptic seizures. A drug known as an antiepileptic is used to control abnormal electrical activity in the brain to prevent or treat seizures or convulsions. Antiepileptics are used to treat epilepsy and other seizure disorders. They are additionally used to deal with medical conditions like bipolar disorder, nerve pain, fibromyalgia, restless leg syndrome, and migraine headaches. The primary treatment for this disorder, which is characterized by recurrent seizures, is anti-epileptic medication.
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. In addition, the overall growth of the market is being aided by the rising incidence of epilepsy. According to the Japanese Declaration on Epilepsy in 2013, epilepsy is one of the most well-known brain disorders, estimated to affect one million people, and 50 thousand people are diagnosed with epilepsy annually in Japan. In addition, the rising prevalence of other neurological conditions and prenatal injuries contribute to the rising number of epileptic cases and necessitate more effective antiepileptic medications. These are the factors that propel market growth during the foreseen period. The rising prevalence of epilepsy is helping to boost the overall market's growth. The growing public's awareness of various advanced epilepsy drug treatments is also attributed to the market's growth. In addition, the strategic initiatives by key market players are further boosting market growth.
MARKET OPPORTUNITY
Over the foreseen period, a significant clinical pipeline and investigational studies for the development of novel antiepileptic medications for paediatric and geriatric patients will increase market opportunities. Both the incidence and prevalence of epilepsy in Korea may have increased as a result of an increase in the elderly population and the number of people with chronic illnesses of the central nervous system. Epilepsy is a chronic medical condition in which the brain is overactive and sends too many signals. According to the Epidemiology Committee of the Korean Epilepsy Society, between 2009 and 2017, epilepsy incidence and prevalence increased in Korea. The rising number of elderly and symptomatic epileptic patients appears to be the cause of these rising trends. As a result, the rise in the incidence of post-traumatic seizures in brain injury patients and the rising number of accidents resulting in brain injuries are the primary factors that increase the Asia-Pacific antiepileptic drug market opportunity throughout the forecast period.
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. Factors such as the high cost of patented medicine, the time-consuming approval process, and the low availability of these drugs hampered the revenue growth of the Asia-Pacific anti-epileptic market to some extent. The extreme expansion in medication deficiencies is one of the essential variables hampering market development. Patients are storing these medications as there is a deficiency of medications in the drug stores.
MARKET GROWTH CHALLENGES
A key challenge that may affect the growth of the Asia-Pacific market is the lack of neurology specialists. Due to a lack of neurology specialists in many lower-income countries, primary care physicians frequently manage epilepsy in Asia. Epilepsy specialists may only be available in sufficient numbers in Asia's wealthiest countries and are frequently concentrated in urban areas. Prioritization of resources and funding, access to health care facilities, the underlying etiology of epilepsy, the expertise and diagnostic capacity of health care personnel, treatment options, sociocultural attitudes toward epilepsy, stigmatization, and treatment-seeking behaviour are just a few challenges facing the Asia-Pacific anti-epileptic drug market over the forecast period.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of Asia-Pacific 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.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET SEGMENTAL OVERVIEW
The Asia-Pacific antiepileptic drugs market comprises of different market segments like, drug type, form, administered route, distribution channel and country.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET BY SIZE
By drug type, the Asia-Pacific antiepileptic drugs market includes key segments like
- First Generation
- Second Generation
- Third Generation
On the basis of drugs type the Asia-Pacific 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 medications of the second generation include vimpat, lyrica, keppra aptiom, banzelfycompa. These drugs work by either controlling the impulse or increasing inhibition. They can also affect the pore-forming membrane proteins, also known as ion channels, and alter the electrical activity of neurons. The first-generation segment includes mysoline, zarontin, carbatrol, topamax, luminal.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET BY FORM
By form, the Asia-Pacific antiepileptic drugs market includes key segments like
On the basis of form the Asia-Pacific 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.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET BY ADMINISTERED ROUTE
By administered route, the Asia-Pacific antiepileptic drugs market includes key segments like
- Oral
- Vein Injections/Intravenous
On the basis of administered route, the Asia-Pacific 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 Asia-Pacific antiepileptic market over the foreseen period. Oral administration of the medications is frequently used for the long-term treatment of epilepsy. The oral route has advantages such as safety, patient compliance, ease of administration, pain relief, and adaptability to accommodate a variety of medications. IV therapy is an excellent delivery method because sidesteps the stomach related situation and conveys the substance solidly into the circulation system. 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.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET BY DISTRIBUTION CHANNEL
By distribution channel, the Asia-Pacific antiepileptic drugs market includes key segments like
- Offline Channels
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Online Platforms
On the basis of distribution channel, the Asia-Pacific antiepileptic drugs market includes key segments like offline channels, hospital pharmacies, retail pharmacies, drug stores, online platforms. The offline segment will hold the majority of the Asia-Pacific antiepileptic market over the forecast period. This is because offline facilities are more comprehensive and comprehensive than online ones. In pastoral areas, offline platforms like hospitals and pharmacies are also present; they act as the primary resource for antiepileptic drugs.
ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET BY COUNTRY
The Asia-Pacific antiepileptic drugs market is studied for the following countries
- China
- Japan
- India
- Rest of APAC
This is due to the rising investment in R&D of innovative drugs, increasing government support, increasing epilepsy cases, and rapid progress of the biopharmaceutical sector in the region. China is projected to lead the market during the forecast period. This is due to the increase in government funding and support to improve treatment facilities, especially in emerging economies. In addition, Japan also shows a significant growth rate over the foreseen period due to their low-cost national health insurance system, medical services and increase in patient visits to hospitals, clinics, and care facilities.
COVID-19 IMPACT ANALYSIS ON ASIA-PACIFIC ANTIEPILEPTIC DRUGS MARKET
Nearly every industry has been negatively impacted by the COVID-19 pandemic. The market's expansion has been hampered by worker restrictions on movement, a drop-in consumer demand, and the closing of production facilities. As a result of the pandemic's disruption of a number of neurology-related activities, including medical training and research, the COVID-19 outbreak has also had a significant impact on the market's expansion. According to an article published in March 2020 titled "Epilepsy and COVID-19: Updated Evidence and Narrative Review," a survey of 212 paediatric neurologists from 49 nations found that telemedicine use has increased while in-person outpatient visits have decreased. As a result, more people are looking for effective epilepsy treatments and medications. 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 in the region.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Asia-Pacific 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 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.
- Eisai Co., Ltd (Japan)
- Sumitomo Corporation (Japan)
- Shandong Sinder Technology Co., Ltd. (China)
- Sun Pharma (IN)
- Hebei Lingding Biotechnology Co., Ltd. (China)
- Xi`an Disheng Health Biotechnology Co., Ltd. (China)
- Alkem Labs (IN)
- Otsuka Pharmaceutical Co., Ltd. (Japan)
- Daiichi Sankyo (Japan)
- UCB Japan Co., Ltd. (Japan)
RECENT DEVELOPMENT:
March 2021: Alkem Labs has launched a generic anti-epileptic drug called Brivasure in India to make epilepsy treatment more accessible at an affordable cost.
March 2019: UCB Japan Co., Ltd. and Daiichi Sankyo Company, Limited launched the anti-epileptic drug VIMPAT Dry Syrup, 10% (generic name: lacosamide) in Japan. It improves medication adherence in patients who experience difficulty March 2019: swallowing existing VIMPAT tablets, as well as making greater contributions to epilepsy patients and healthcare professionals.
