Anti-epilepsy Drugs Market Size | Trends and Share | Forecast To 2022
19 June 2019 – Epilepsy is a chronic disorder that causes unprovoked and recurrent seizures. Epilepsy is the fourth most common neurological disorder and affects people of all ages. The patients are reported to loss or disturbance of consciousness and movements along with sensory or psychiatric disturbances. Increasing prevalence of the epilepsy, rising per capita healthcare expenditure and increasing R&D for the therapeutic procedures of the disease drives the Anti Epilepsy Drugs Market growth during the forecast period, 2017-2022.
According to the World Health Organization in 2017, approximately 50 million people across the globe have epilepsy, making it one of the most common neurological diseases globally. Moreover, it was estimated that nearly 80% of the people with epilepsy live in low- and middle-income countries. Additionally, approval of several late-stage pipeline molecules, advancements in drugs modification and favourable government initiative fuels the market growth. However, side effects related to the therapeutic drugs, increasing generic competition and patent expirations are some of the restrains that for the growth during the forecast period.
The global anti-epilepsy drugs market is growing with the sound pace. According to a recent study report published by the Market Research Future, The global anti-epilepsy drugs market is booming and expected to gain prominence over the forecast period growing rapidly .The market is forecasted to demonstrate a sound growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
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Global Anti-Epilepsy Drugs Market – Competitive Analysis
Characterized by the presence of several well-established and small players, the global anti-epilepsy drugs market appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Pfizer Inc. is one of the major players of the global anti-epilepsy drugs market and is headquartered in the U.S. In 2015, the company’s total revenue was about USD 48,851 million and it reached USD 52,824 million in 2016. Such a significant increase in the global sales, enabled the company to invest a huge percentage of their sales into the research and development. In 2016, the company spent 14.9% of its total revenue into the R&D enabling it to improve its product portfolio and launch new product, strengthening its position in the market.
In October 2016, Abbott has collaborated with Celgene and Agios for diagnostic identification of IDH mutations. Celgene has done an agreement with Abbott to develop and commercialize the diagnostic tests.
In November 2016, Novartis acquired Selexys Pharmaceuticals Corporation, a company specializing in development of therapeutics in certain hematologic and inflammatory disorders.
In August 2017, Sanofi completed the acquisition of Protein Sciences, a vaccines biotechnology company based in Meriden, Connecticut in the United States. This acquisition was followed by the Federal Trade Commission approval, having met all the conditions required for the closing of the transaction.
Pfizer, Inc., Johnson & Johnson, UCB Pharma Ltd., Abbott, GlaxoSmithKline plc, Novartis AG, Sanofi, Shire Pharmaceuticals Limited and Cephalon Inc., are some of the prominent players at the forefront of competition in the Global Anti-epilepsy Drugs Market and are profiled in MRFR Analysis.
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Global Anti-epilepsy Drugs Market – Regional Analysis
On the regional backgrounds the Americas leads the global market for anti-epilepsy drugs owing to a well-developed healthcare sector, increasing prevalence of epilepsy and presence of the developed technologies within the region. According to the Centres for Disease Control and Prevention, in 2015, 1.2% of the total U.S. population had active epilepsy. Moreover, it was estimated that the yearly total direct and indirect cost of epilepsy in the U.S. was about USD 15.5 billion. Europe is second in the market due to rising healthcare expenditures, huge patient population and growing healthcare R&D expenses by the government. The Asia Pacific region is the fastest growing region due to the developing economies like India and China which are increasing their healthcare expenditures and have huge patient population. Moreover, favourable government policies within the region fuels the market growth. Middle East and Africa have the least market share, especially due to the presence of poor economies and stringent government policies within the African region.
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