New York, United States , Jan. 24, 2024 (GLOBE NEWSWIRE) -- The Global Antiepileptic Drugs (AED) Market Size is to Grow from USD 15.45 Billion in 2022 to USD 23.54 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 4.3% during the projected period. The concept of customized medicine, which involves tailoring treatment based on an individual’s genetic profile and response to treatment, holds enormous potential for the antiepileptic drugs (AED) Market.
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Epilepsy is one of the most common neurological diseases in the world. This disease causes abrupt behavioural changes, severe emotional distress, and loss of consciousness in patients. Globally, more than 50 million people suffer from epilepsy. This is a common severe brain disorder caused by several factors, which results in epileptic seizures. Product approvals for epileptic disorders will drive market growth during the forecast period. Despite the availability of AEDs on the market, one-third of the population suffers from drug intolerance. Manufacturers are putting forth numerous efforts to address this issue. R&D personnel are now focusing on developing neurobiology-specific drugs for the disease. The increasing prevalence of epilepsy, which requires the use of therapeutically effective medications, puts market participants under pressure to introduce AEDs. The scarcity of antiepileptic drugs hinders the growth of the antiepileptic drug market. Despite the increasing prevalence of epilepsy, seizures, and other chronic conditions in developing countries, certain factors are impeding the global antiepileptic drug (AED) market growth.
COVID-19 Impact
Limited access to neurological care during the pandemic hampered market growth. The COVID-19 pandemic had a negative impact on the global market size due to a decrease in demand for neurological drugs and services, as well as issues with access to care. The pandemic decreased the number of patient visits in various countries.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on the "Global Antiepileptic Drugs (AED) Market Size, Share, and COVID-19 Impact Analysis, By Drug Generation (First Generation, Second Generation, Third Generation), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Route of Administration (Oral, Intravenous), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The second-generation segment is expected to hold the biggest share of the global antiepileptic drugs (AED) market over the forecast period.
Based on the drug generation, the global antiepileptic drugs (AED) market is classified into first generation, second generation, and third generation. Among these, the operating microscopes segment is expected to hold the largest share of the antiepileptic drugs (AED) market during the forecast period. Lyrica, Keppra, Banzel, and other second-generation drugs are examples. Lyrica is the market leader and has the largest market share in epilepsy treatment. It has been shown to slow brain impulses and control seizures.
The hospital pharmacies segment anticipates significant CAGR growth during the forecast period.
Based on the distribution channel, the antiepileptic drugs (AED) market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the plastic surgery segment holds the significant CAGR growth over the forecast period. The segmental growth can be attributed to the expansion of hospital pharmacies for neurology, as well as patient’s preference for hospitals due to modern infrastructure and adequate facilities. In addition, the growing number of hospitals and adequate reimbursement policies offered by these facilities are significant factors contributing to an increase in the number of epilepsy patients treated in these facilities.
The oral segment will experience significant CAGR growth over the forecast period.
Based on the route of administration, the antiepileptic drugs (AED) market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Among these, the oral segment holds the significant CAGR growth over the forecast period. Antiepileptic drugs are frequently taken orally for the long-term treatment of epilepsy. Epilepsy therapy entails administering medications in a variety of formulations for both acute and chronic conditions.
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North America dominates the market with the largest market share over the forecast period.
North America dominates the market with the largest market share over the forecast period. The North American market is distinguished by higher rates of neurology diagnosis and treatment, as well as adequate epilepsy drug reimbursement policies. These factors, as well as increased patient awareness of new treatment options and the availability of advanced drugs in the region, account for the region's dominant share of the global market.
The Europe and Asia Pacific antiepileptic drugs (AED) market witnessing the fastest CAGR during the forecast period. The rising number of drugs receiving regulatory approval is expected to drive demand for anticonvulsant drugs in Europe during the forecast period. Regulatory approvals in Asia Pacific are expected to drive revenue in the Asia Pacific regional antiepileptic drugs (AED) market during the forecast period, as is the penetration of key regional players.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global Antiepileptic Drugs (AED) market include Pfizer Inc., UCB S.A., Novartis, Dr. Reddy's Laboratories, GSK plc., Mylan NV, Johnson & Johnson, AbbVie, H. Lundbeck A/S, Eisai Co., Ltd., Sanofi, Teva Pharmaceutical Industries, Sun Pharmaceutical, Sunovion Pharmaceuticals Inc., Jazz Pharmaceuticals, Inc., and among others.
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Recent Developments
- In February 2022, Biohaven Pharmaceutical Holding Company Ltd. agreed to buy Channel Biosciences, LLC's Kv7 channel activators for target indications such as epilepsy, pain disorders, and affective disorders.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global antiepileptic drugs (AED) market based on the below-mentioned segments:
Antiepileptic Drugs (AED) Market, Drug Generation Analysis
- First Generation
- Second Generation
- Third Generation
Antiepileptic Drugs (AED) Market, Distribution Channel Analysis
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Antiepileptic Drugs (AED) Market, Route of Administration Analysis
- Oral
- Intravenous
Antiepileptic Drugs (AED) Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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