Pune, India, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The antiepileptic drugs market size is anticipated to surge from USD 16.50 billion in 2023 to USD 22.37 billion by 2030, exhibiting a CAGR of 4.4% over the study period. The market growth is being driven by the high rate of disease prevalence and the escalating demand for various treatments.
Fortune Business Insights™ provides this information in its research report, titled “Antiepileptic Drugs (AED) Market, 2023-2030”.
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Key Industry Development:
August 2022 – UCB shared plans to partner with Yale University, the Wisconsin Health Information Organization, and Le Bonheur Children’s Hospital. The partnerships would focus on assessing the seizure cluster impact on the quality of life of patients and their caregivers.
Key Takeaways:
- Around 80.0% of individuals with epilepsy reside in low and middle-income countries (LMICs).
- Eisai Co., Ltd. introduced a new fine granule formulation of its internally developed antiepileptic drug (AED) Fycompa (perampanel hydrate) in Japan in July 2020.
- Ztalmy (ganaxolone) received approval from the U.S. FDA in March 2022 for treating seizures associated with cyclin-dependent kinase-like 5 (CDKL5) deficiency disorder (CDD) in patients aged two years and older.
- The market size for antiepileptic drugs in North America was USD 7.52 billion in 2022.
Discover the Leading Players Featured in the Report:
Pfizer Inc. (U.S.), UCB S.A. (Belgium), GSK plc. (U.K.), H. Lundbeck A/S (Denmark), Eisai Co., Ltd. (Japan)
Sanofi (France), Sunovion Pharmaceuticals Inc. (U.S.), Jazz Pharmaceuticals, Inc. (Ireland)
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.4% |
| 2030 Value Projection | USD 22.37 billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 16.50 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 112 |
| Segments covered | By Drug Generation, By Distribution Channel, By Region |
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https://www.fortunebusinessinsights.com/industry-reports/antiepileptic-drug-market-101189
Segmentation:
Second Generation Segment Accounted for Dominant Share Owing to Seizure Control Potential
On the basis of drug generation, the market for antiepileptic drugs is subdivided into first generation, second generation, and third generation. Of these, the second generation segment dominates the market. This is due to the potential and ability of these drugs to control seizures and slow the impulses of the brain.
Hospital Pharmacies Segment Led the Market Due to Availability of Advanced Infrastructure
On the basis of distribution channel, the market for antiepileptic drugs is fragmented into retail pharmacies, hospital pharmacies, and online pharmacies. The hospital pharmacies segment registered the key market share. This was due to the growing patient preference for these settings considering the availability of adequate facilities and the presence of advanced infrastructure.
Based on geography, the market for antiepileptic drugs is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
By Drug Generation
- First Generation
- Second Generation
- Third Generation
By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Driving factor:
Surging Number of Product Approvals to Impel Industry Expansion
The antiepileptic drugs (AED) market growth is being propelled by the rising focus of market players on research and the development of target-specific drugs. Regulatory bodies such as the U.S. FDA are supporting the improvement of R&D efforts among industry players to benefit the patient population.
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Regional insights:
North America Dominates Owing to Higher Diagnosis Rate in the Region
North America antiepileptic drugs (AED) market share holds a dominant position in the global market. The regional market was valued at USD 7.52 billion in 2022. The dominance of the region can be attributed to the higher rate of diagnosis and treatment for neurology conditions.
The drug demand in Europe is set to rise with an increase in regulatory approvals in the region. The regional market is expected to exhibit a comparatively higher CAGR over the forecast period.
Competitive Landscape
Industry Players Invest in R&D Activities to Increase Market Share
Market players are investing in research and development activities for the launch of generic and advanced products. These steps are being undertaken in a bid to acquire more market share. Leading players in the market include GSK plc., Pfizer Inc., and UCB S.A.
FAQs
How big is the Antiepileptic Drugs Market?
Antiepileptic Drugs Market size is USD 16.50 billion in 2023.
How fast is the Antiepileptic Drugs Market growing?
The Antiepileptic Drugs Market will exhibit a CAGR of 4.4% during the forecast period, 2023-2030
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