New York, USA, July 11, 2023 (GLOBE NEWSWIRE) -- Gabapentin Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Gabapentin Market Information By Dosage Form, By Type, By Application, By Distribution Channel, and By Region –Market Forecast Till 2032,” the market Size was valued at USD 2.2 Billion in 2022 and is projected to grow from USD 2.3 Billion in 2023 to USD 3.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.90% during the forecast period (2023 - 2032).
Market Scope:
Gabapentin comes in capsule form, tablet form, and oral solution form, and is used in conjunction with other drugs for the treatment of epilepsy to help control specific types of seizures. Postherpetic neuralgia pain can also be treated with gabapentin in the form of capsules, pills, or oral solution. Anticonvulsants, including gabapentin, are a type of drug used to treat seizures. Gabapentin is used to treat seizures because it lowers the brain's aberrant excitation. The discomfort from PHN can be alleviated with gabapentin because it alters the body's perception of pain. The specific mechanism of action of gabapentin in the treatment of restless legs syndrome is unknown.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2032 | USD 3.7 Billion |
| CAGR | 5.90% |
| Base Year | 2022 |
| Forecast Period | 2023-2032 |
| Historical Data | 2021 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Dosage Form, Type, Application, Distribution Channel and End User |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Increasing incidence of neuropathic pain and seizures and the rising usage as a pain management drug |
| The rising demand for generic medicine formulations |
Gabapentin Market Competitive Dynamics:
Key Companies in the Gabapentin market include.
- Zydus Pharmaceuticals, Inc
- Glenmark Pharmaceuticals Limited
- Sun Pharmaceutical Industries Ltd.
- Ascend Laboratories, LLC
- Apotex Inc.
- Teva Pharmaceutical Industries Ltd.
- Aurobindo Pharma.
- Amneal Pharmaceuticals LLC.
- Cipla USA, Inc.
- BP Pharmaceuticals Laboratories Company
- Assertio Holdings, Inc.
- Arbor Pharmaceuticals, Inc.
- Pfizer Inc.
- Among others.
Gabapentin Market Trends:
Market Drivers
The rising prevalence of neuropathic pain and seizures, as well as the increasing usage of medications for pain management, are among the most important market drivers fueling market expansion. One of the key causes boosting demand for gabapentin is its increasing usage as a painkiller, particularly for neuropathic pain. This industry is growing because of the rising incidence of chronic pain conditions such as diabetic neuropathy, shingles, and spinal cord injuries, all of which are difficult to treat with conventional opioids.
Some doctors will prescribe it in addition to opioids, while others will do so instead. The industry is being propelled by the growing interest in generic drug formulations because to their lower cost compared to brand-name equivalents. Generic drugs' rising popularity can be attributed to two main factors: their availability and their low cost, both of which are especially important in developing countries with limited healthcare budgets. This tendency is expected to drive the growth of the gabapentin market in regions where there is a great need for affordable healthcare.
Market Restraints
Concerns regarding gabapentin abuse and misuse are another factor hindering the sales. Some countries have restricted the use of gabapentin due to concerns about its potential for abuse and fatal overdose. Because of this pattern, manufacturers may be compelled to invest more research and development resources into creating painkillers that are both safer and more effective.
COVID-19 Analysis:
People with chronic pain were disproportionately hit hard by the societal shifts that resulted from the COVID-19 pandemic. A person's core social needs for autonomy, belonging, and justice are all compromised by a life of chronic pain. Some people's chronic pain persisted through the epidemic because they felt more socially intimidated. Furthermore, supply chain bottlenecks reduced the availability of gabapentin medicines. The demand for gabapentin dropped as a result of the pandemic.
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Gabapentin Market Segmentation:
Dosage Form
Gabapentin capsules were the most popular form of the drug in the market in 2022. The segment has become dominant because to the effectiveness of its faster mode of action and the wider acceptance of its dose type.
Type
In 2022, the generic segment's revenue share was highest because of the generics' popularity among consumers and the market's low barriers to entry. However, it is expected that the product will be manufactured in the company's Indian factory. The primary focus of large generic makers is on the sale of generic copies of the drug.
Application
In 2022, the epilepsy market was the most lucrative, and it is expected to maintain its lead throughout the projection period. The dramatic increase in the number of people with active epilepsy who require constant pharmaceutical help for the treatment of seizures is to blame.
Distribution Channel
In 2022, it was predicted that the hospital pharmacy sector will account for the lion's share of the market. The segment has an edge over the competition because of the convenience of these pharmacies' proximity to drugs and their flexible payment and reimbursement policies.
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Regional Analysis:
In terms of revenue, North America's share of the gabapentin market was the largest in 2022, and it is expected to remain the largest during the forecast period. It's possible that the prevalence of chronic pain conditions and neurological illnesses is to blame for this dominance. The Food and Drug Administration supports new generic drug introductions in the region since it will improve domestic product availability. Canada's Gabapentin market was the fastest growing market in North America, while the U.S. market held the biggest share.
The European market for gabapentin is the second largest in the world. Rising demand for anticonvulsants, government initiatives, and product approvals are all factors that could propel the regional market. Europe is expected to have a sizable market share as a result of developments in point-of-care diagnostics, advances in technology, and unrealized potential in developing countries.
From 2023 to 2032, the market for gabapentin is anticipated to expand at the highest compound annual rate in Asia-Pacific. The Asia-Pacific region is predicted to experience considerable growth over the projection period due to increasing awareness of gabapentin's advantages against opioids and increased healthcare spending in developing nations like India and China. Important generic players' presence in Asian markets fuels growth.
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