The major factors for the growth of the epilepsy drugs market include the rise in the new drug approvals over the past few years and increasing cases of epilepsy across the globe.
Epilepsy is a central nervous system (CNS) disorder in which brain activity becomes abnormal, resulting in seizures or periods of unusual behavior, and sensations. It can occur due to a genetic disorder or an acquired brain injury. In addition to the rising cases of epilepsy, there is a rising effort taken to increase awareness about the condition. There is also rising awareness levels about epilepsy coupled with strategic alliances that are anticipated to stimulate the market growth. One of the organization Epilepsy Foundation is promoting public awareness and education by undertaking research and delivering specialist medical care and support services to the people affected by epilepsy.
Key Market Trends
Second Generation Anti-epileptics is the Segment by Drugs Expected to Hold a Large Market Share Over the Forecast Period
The second-generation Anti-epileptics drugs are expected to hold the largest market share owing to the several significant advantages such as reduced drug-drug interactions, less life-threatening adverse events and less negative impact on cognitive functions.
Furthermore, the rising cases of epilepsy will boost the demand for drugs in the market. Also, recently in May 2018, one of the market player UCB announced that the United States Food and Drug Administration (FDA) has approved a supplemental new drug application (sNDA) for its newest anti-epileptic drug (AED) BRIVIACT (brivaracetam) CV oral formulations indicated as monotherapy and adjunctive therapy in the treatment of partial-onset (focal) seizures in patients aged four years and older. Thus, owing to the new product launch and acceptance of second-generation epilepsy drugs the market is expected to witness high growth over the forecast period.
North America is Expected to Hold Largest Market Share over the Forecast Period
The United States is expected to be the largest epilepsy drug market owing to the presence of better healthcare infrastructure and rising cases of epilepsy. As per the Epilepsy Foundation of Michigan, epilepsy is the fourth most common neurological disorder in the United States after migraine, stroke, and Alzheimer’s disease. About one percent of Americans have some form of epilepsy, and nearly four percent (1 in 26) will develop epilepsy at some point in their lives. The number of Americans who have epilepsy is greater than the number who have multiple sclerosis, Parkinson’s disease, and cerebral palsy combined. Thus, there is a rising demand for effective treatment in the region which is expected to boost the growth of the epilepsy drug market.
Furthermore, there are various organizations making awareness about epilepsy in the United States. Thus, owing to the all above-mentioned factors the market is expected to witness high growth.
The market studied is a consolidated market owing to the presence of few major market players. Therefore most of the key players are found focusing on the expansion of their businesses to increase their market share. Also, they are adopting certain strategies, such as new product development, mergers, and acquisitions.
Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support