Epilepsy Therapeutics Market
Epilepsy Therapeutics Market (Product - First Generation Epilepsy Therapeutics, Second Generation Epilepsy Therapeutics, Third Generation Epilepsy Therapeutics; Distribution Channel - Hospital Pharmacy, Retail Pharmacy, Online Pharmacy) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027
Press Release :
The demand within the global epilepsy therapeutics market is slated to increase as new opportunities for medical analysis come to the fore of the medical industry. Neurological disorders have become a matter of concern for medical researchers who are looking at optimizing medical treatments. The stellar relevance of studying the neurological responses of the human body has created new opportunities for market maturity. In addition to this, the high incidence of neurological disorders amongst the geriatric population shall also aid market growth. As a distinct factor, epilepsy can affect the younger population groups as well. Therefore, the high vulnerability of people of all groups to epilepsy has created new avenues for market growth and revenues generation.
- Recurrent seizures can be a major problem for younger people with work and life commitments. Therefore, it is important to administer epilepsy treatments to ensure seamless functions of young individuals. Epilepsy is a severe disorder that can hamper normal functioning of individuals, and can be a means to cause complete seizure of activity in affected individuals. The total volume of revenues within the global epilepsy therapeutics market is projected to touch new heights in the times to follow. The rising cases of head injuries, especially amongst sportspersons and athletes, has given an impetus to market growth and maturity.
- Genetic studies have led to improvements in epilepsy therapeutics, and this is an important dynamic of market growth. As new value propositions for epilepsy therapeutics come to the fore in recent times, the revenue index of the market shall improve. Neurologists are focusing on decoding the core reasons responsible for the occurrence of epilepsy. This factor has led to increased investments in medical research and development in recent times. Rising incidence of brain tumours has also generated a plethora of opportunities for growth within the market.
Epilepsy Therapeutics Market - Snapshot
The global epilepsy therapeutics market is expanding, propelled by an increase in the prevalence of epilepsy across the globe. The global epilepsy therapeutics market was over US$ 12.5 Bn in 2018 and is expected to reach a value of US$ 17.3 Bn by 2027, expanding at a compound annual growth rate (CAGR) of around 3.4% from 2019 to 2027. The global market is expanding at a relatively higher growth rate owing to increasing geriatric population, adoption of anti-epileptics due to increasing seizures and epilepsy cases, and a rise in research and development in both developed and developing markets.
According to World Health Organization (WHO), epilepsy is a chronic non-communicable disease of the central nervous system, affecting more than 50 million people worldwide. In epilepsy, the brain activity becomes abnormal, resulting in recurrent seizures that are short episodes of involuntary movement, which may involve a part of the body or the entire body. These seizures, sometimes, cause loss of consciousness and bladder function or bowel control. Treatment with medication or, sometimes, surgery can control seizures in people with epilepsy. Anti-epileptics are used to control seizures to treat epilepsy, and these medication work by decreasing the irregular impulses in the brain that cause seizures and pain. High prevalence of epilepsy, increase in incidence of brain injuries, and rise in geriatric population are key factors driving this market. Furthermore, increasing efficacy of upcoming epilepsy therapeutics and widespread awareness and acceptance of novel medications among the population are anticipated to boost the global epilepsy therapeutics market in the near future.
The global epilepsy therapeutics market has been segmented based on product, distribution channel, and region. In terms of product, the market has been classified into first generation epilepsy therapeutics, second generation epilepsy therapeutics, and third generation epilepsy therapeutics. The second generation epilepsy therapeutics segment is expected to hold a significant share of the market owing to their increased penetration in the market and better effectiveness as compared to first generation epilepsy therapeutics. Third generation epilepsy therapeutics are considered to be highly efficacious, with comparatively less side-effects; hence, the segment is projected to expand at a prominent CAGR during the forecast period.
In terms of distribution channel, the global epilepsy therapeutics market can be segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The hospital pharmacy segment is projected to dominate the global market. Generally, for diagnosis and treatment of neurological disorders, patients consult a specialist and hence, consider the hospital pharmacy for prescribed medication. This is attributed to the prominent share held by the hospital pharmacy segment in the global market.
In terms of region, the global epilepsy therapeutics market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate and account for a prominent share of the global epilepsy therapeutics market. The market in North America is primarily driven by a rise in patient population, high prevalence of neurological disorders, brain injuries, and increase in incidence of epilepsy. Moreover, development of highly efficacious products, having less side-effects, and better outcomes are likely to propel the epilepsy therapeutics market in North America. The market in Asia Pacific is anticipated to expand at a notable growth rate during the forecast period. This is due to the presence of a large base of geriatric population, governmental initiatives to improve the healthcare sector, rise in research and development activities, and increase in incidence of epilepsy in the region.
Rise in the number of approvals by government bodies, increase in number of technological advancements, strong sales and distribution network, rise in research and development, and surge in acquisitions and mergers are the key trends witnessed in the global market. Key players operating in global epilepsy therapeutics market and profiled in this report include Pfizer, Inc., UCB S.A., Bausch Health Companies Inc., Novartis AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc., Eisai Co., Upsher-Smith Laboratories, LLC., and Amneal Pharmaceuticals LLC.
Global Epilepsy Therapeutics Market: Overview
This report analyzes the global epilepsy therapeutics market in terms of its current and future scenario. Epilepsy is a central nervous system disorder in which the brain activity becomes abnormal, thereby resulting in periods of unusual behavior or seizures, sensations, and sometimes, even loss of awareness. Epilepsy is generally diagnosed after a person has experienced at least two seizures that didn’t occur due to known medical condition; for instance, extremely low blood sugar or alcohol withdrawal. The treatment of epilepsy can be carried out with antiepileptic medications (AEDs), diet therapy, and surgery. Epilepsy therapeutics or medications are the starting treatment choice for almost all patients with multiple seizures. According to American Association of Neurological Surgeons, epilepsy therapeutics are significantly effective and completely control seizures in a majority (approximately 70%) of patients. The drugs prevent seizures by decreasing the tendency of the brain cells to send excessive and confused electrical impulses.
This report on the global epilepsy therapeutics market comprises an elaborate executive summary, including a market snapshot that provides information about different segments of the market. The report also provides information and data analysis of the global market with respect to its segments based on product, distribution channel, and geography. A detailed qualitative analysis of drivers, restraints, and opportunities of the market has been provided in the market overview section. Moreover, the section comprises the company profiles with a business overview to project the competitive landscape of the market. It also provides market attractiveness analysis in terms of geography, and market share analysis by key players, thereby presenting a thorough analysis of the overall competitive scenario prevailing in the epilepsy therapeutics market.
Global Epilepsy Therapeutics Market: Key Segments
Based on product, the global epilepsy therapeutics market has been segmented into first generation epilepsy therapeutics, second generation epilepsy therapeutics, and third generation epilepsy therapeutics. In terms of distribution channel, the global epilepsy therapeutics market has been classified into hospital pharmacy, retail pharmacy, and online pharmacy. The global epilepsy therapeutics market has been analyzed based on approvals and launches of products, research and developmental activities, and presence of key players in the region. Market size and forecast for each of these segments have been provided for the period of 2017 to 2027, along with their respective CAGR for the forecast period from 2019 to 2027, considering 2018 as the base year.
Global Epilepsy Therapeutics Market: Regional Outlook
In terms of region, the global epilepsy therapeutics market has been categorized into five major regions and key countries in these regions: North America (the U.S., Canada), Europe (Germany, the U.K., France, Italy, Russia, Spain, and Rest of Europe), Asia Pacific (China, India, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (GCC countries, South Africa, Israel, and Rest of Middle East & Africa). Market size and forecast for each of these regions and their key countries have been provided for the period from 2017 to 2027, along with their respective CAGR for the forecast period 2019-2027, considering 2018 as the base year. This report also covers the competitive scenario of the market in these regions.
Companies Mentioned in Report
The report profiles major players operating in the global epilepsy therapeutics market in terms of attributes such as company overview, financial overview, product portfolio, and business strategies. Major companies profiled in this report are Pfizer, Inc., UCB S.A., Bausch Health Companies Inc., Novartis AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc., Eisai Co., Upsher-Smith Laboratories, LLC., and Amneal Pharmaceuticals LLC.
The global epilepsy therapeutics market has been segmented as mentioned below: