Epilepsy Therapeutic Market Size, Share, Growth, and Industry Analysis, by Type (First Generation and Second Generation), By Application (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), Regional Insights, and Forecast To 2032

Updated On: 01 April 2024

Epilepsy Therapeutic Market REPORT OVERVIEW

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The global epilepsy therapeutic market size was USD 4076.9 million in 2021 and market is projected to touch USD 5929.2 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.2% during the forecast period.

Epilepsy is a neurological disorder that causes seizures by interfering with brain nerve cell activity. There is no known cause for approximately half of those who suffer from epilepsy. In the other half, the condition is caused by a variety of factors, including: The Influence of Genes Some types of epilepsy run in families and are classified based on the type of seizure or the part of the brain affected. Seizures are uncontrollable electrical bursts that cause changes in sensations, behaviors, awareness, and muscle movement. Although epilepsy cannot be cured, there are many treatment options. Medication can control the disease in up to 70% of epilepsy patients.

Almost every patient with multiple seizures starts on epilepsy medications or therapeutics. These medications prevent seizures by lowering the proclivity of brain cells to direct disorganized and excessive electrical impulses. The majority of epileptics can control their seizures with medication or, in some cases, surgery. Some people require treatment for the rest of their lives to control their seizures, while others' seizures resolve on their own. Some epileptic children may outgrow it. The rise in public awareness about the treatment of neurological disorders, combined with the high adoption of antiepileptic drugs (AEDs), is expected to drive the market growth of epilepsy therapeutics.

COVID-19 Impact: Healthcare Industry's Lack of Management Stifled Market Growth.

The coronavirus's impact on multiple distribution channels, logistic operations, and marketing procedures is explained by epilepsy therapeutic market statistics. The market for epilepsy therapeutics, like any other medical market, has suffered as the number of cases has increased. The demand for epilepsy drugs decreased due to a lack of services as a result of a large number of COVID-19 cases. The unpredictability of the situation resulted in a lack of management within various healthcare services and hospital departments. The recovery from the damage will take several quarters, and the market will return to normalcy during the forecast period.

LATEST TRENDS

"Technological Escalation Leads to Market Growth"

The epilepsy therapeutic market is growing with the help of technological advancements in this day and age. Despite the fact that there is no cure for this disease, scientists around the world are eager to develop solutions to make patients' lives easier. Seizure monitoring devices, such as sleep monitors and smart watches, are available. Sleep monitors are medical devices that have been clinically proven to detect clinically urgent epileptic seizures while sleeping. It can be especially beneficial for children who have seizures while sleeping. There are also smart watches that can detect seizures. Although a monitor cannot always be accurate and cannot guarantee complete safety, it can provide some people with a sense of security.

Epilepsy Therapeutic Market SEGMENTATION

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• By Type

Based on type; the market is divided into First Generation and Second Generation

Second Generation is the leading part of this segment.

• By Application

Based on application; the market is divided into Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies

Hospital Pharmacies is the leading part of the application segment.

DRIVING FACTORS

"Seizure Control Drugs Boost the Market Growth"

Epilepsy is a disorder characterized by excessive electrical discharges in neuronal clusters, resulting in spontaneous and recurrent seizures. Despite being one of the most common neurological disorders, the cellular and molecular basis of epilepsy remains largely unknown. With the increasing success rate of ant epilepsy drugs, the epilepsy therapeutic market is rapidly expanding. It includes categories such as suppressing seizures and curing the underlying causes. The current trend emphasis is on suppressing the seizures. This symptomatic treatment approach has little chance of affecting the disease's underlying causes. In any case, it increases the market growth.

"The Increasing Incidence of Epilepsy Accelerates the Market Growth"

Governments all over the world are launching projects aimed at developing innovative and creative technology. As a result of these technologically advanced devices and successfully tested drugs, the market for epilepsy treatment is expected to grow. As a result, the rising prevalence of epilepsy around the world has created a demand for effective medical solutions, boosting market growth potential. The rising prevalence of epilepsy around the world has created a demand for effective medical solutions, boosting the epilepsy therapeutic market growth potential.

RESTRAINING FACTORS

"High Costs of the Drugs and Supporting Devices Hinder the Market's Growth."

The high cost of epilepsy drugs, monitoring equipment, and operations is a major barrier to market growth, particularly in developing countries with lax reimbursement systems. Furthermore, procedures requiring brain monitoring equipment are frequently expensive, and the devices themselves are extremely complicated. Long-term use of antiepileptic drugs is restricted due to their side effects, withdrawal symptoms, negative interactions with other drugs, and economic burden, particularly in developing countries. Furthermore, some antiepileptic medications may even potentiate certain types of seizures. All of these factors contribute significantly to market growth.

Epilepsy Therapeutic Market REGIONAL INSIGHTS

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"North America to Lead Market Owing to the Increasing Number of Epilepsy Cases"

North America held the largest epilepsy therapeutic market share in 2021 and is expected to grow during the forecast period due to the region's healthcare infrastructure and rise in epilepsy cases.  In this region, epilepsy affects more people than multiple sclerosis, Parkinson's disease, and cerebral palsy combined. As a result, the region's future for epilepsy treatment options is bright. In addition, several organizations are raising awareness about epilepsy. Product development with high efficacy, improved outcomes, and fewer side effects is also expected to accelerate market growth in North America.

KEY INDUSTRY PLAYERS

"Prominent Players in the Market to Boost Market Growth"

The information in this market was gathered from a variety of sources. Trade journals, statistics from professional associations, university studies, and government reports are just a few examples. In addition to these primary sources, information is gathered from producers, distributors, sellers, retailers, micro-experts, and other market participants. The report includes information about industry participants and their local activities. Partnerships, technological advancements, acquisitions, mergers, and industrial facility expansion are a few examples of data collection and reporting methods.

List of Market Players Profiled

• Abbott Laboratories (U.S.)
• GlaxoSmithKline Plc (U.K.)
• UCB (Belgium)
• Cephalon (U.S.)
• Johnson & Johnson (U.S.)
• Pfizer (U.S.)
• Novartis AG (SWitzerland)
• Abbvie (U.S.)
• Janssen Pharmaceuticals (Belgium)
• Sunovion Pharmaceuticals (U.S.)
• Bausch Health (U.S.)
• Sanofi S.A (France)
• Takeda (Japan)
• Eisai (Japan)
• F. Hoffmann-La Roche (Switzerland)

REPORT COVERAGE

The research includes a comprehensive examination of the market's current state, including raw materials, technology, and equipment, as well as supply and demand, production capacity, and industry chain analysis. This study assesses the market potential as well as the market risks associated with the emergence of specific categories. The influence of major market drivers and restraints on market growth is also assessed. The performance of major firms is evaluated over time, and their effects on market dynamics are investigated.