The global epilepsy drugs market is expected to reach over USD 5,474.14 million by 2024, according to a new report by Grand View Research, Inc. The rising government funding for the development of new and effective drugs for the treatment of seizures is a high impact rendering driver for the epilepsy drugs market growth. The American Epilepsy Society (AES) in alliance with other organizations, such as American Academy of Neurology, the Epilepsy Foundation, and the Grass Foundation, provide funding for R&D activities and offer treatment line awareness trainingto the physicians through different programs.
Furthermore, various awareness programs conducted by organizations, such as the Epilepsy Foundation, the American Epilepsy Society, Epilepsy Association of Central Florida, CURE Epilepsy, and the Anita Kaufmann Foundation, further accelerate the diagnosis and treatment rates. This is expected to propel the market growth over the forecast period.
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Further key findings from the study suggest:
The second generation anti-epileptic drug class is estimated to have over 30% market share in 2015 owing to the high prescription rates, improved tolerability, and increased efficacy due to the novel mechanisms of action of these drugs
The third generation anti-epileptic drug class is expected to witness the fastest growth with a CAGR of over 4% over the forecast period. The major factors responsible for the growth of this segment include the launch of high efficacy drugs with improved mechanism of action and fewer side effects, and the awaited launch of new pipeline drugs.
The growing need to improve the efficacy of the existent drugs and the need to develop new and enhanced anti-epileptic drugs to minimize the associated side-effects, such as dizziness, fatigue, weight gain, and depression are the propelling factors expected to drive the market growth over the forecast period
North America dominated the market in terms of revenue with over USD 2,000 million in 2015 owing to the presence of well-established healthcare infrastructure, favorable government initiatives directed at the betterment of the healthcare system, and the presence of extensive research and development activities
Asia Pacific is expected to witness lucrative growth with a CAGR of around 4.5% over the forecast period owing to the rising disposable income levels and the favorable, healthcare government initiatives in emerging economies, such as India, Japan, and China
Some major players of the epilepsy drugs market include UCB Pharma Ltd., Sanofi S.A, Valeant Pharmaceuticals International, Inc., Pfizer, Inc., Johnson & Johnson, Eisai Co., Ltd., Abbott Laboratories, Inc., Novartis AG, GlaxoSmithKline PLC., Sunovion Pharmaceuticals, Inc., and Cephalon, Inc.
Most of the key players are engaged in strengthening their product portfolio to increase their market share. The introduction of novel drugs is expected to foster the market penetration of anti-epileptic drugs. For instance, in August 2015, the FDA-approved epilepsy tablet, Aptiomby Sunovion Pharmaceuticals, Inc. for people suffering from partial-onset seizures.
Grand View Research has segmented the global epilepsy drugs market on the basis of treatment and region:
Global Epilepsy Drug market (Revenue, USD Million, 2013 - 2024)
First generation anti-epileptic drug
Second generation anti-epileptic drug
Third generation anti-epileptic drug
Epilepsy Drugs Regional Outlook (Revenue, USD Million, 2013 - 2024)
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