The global anticonvulsants market is expected to grow from USD 19.2 billion in 2021 to USD 24.1 billion by 2030, at a CAGR of 2.6% during the forecast period 2022-2030.
The varied class of pharmacological medicines known as anticonvulsants is used to treat epileptic seizures. Bipolar illness and borderline personality disorder are two other conditions that anticonvulsants are used to treat more frequently. Anticonvulsants are also called antiepileptic drugs and are also referred to as antiseizure drugs as they provide relief from the occurring symptoms and do not change the course of epilepsy. Epilepsy is a chronic disease that results in unjustified and repeated seizures. According to the World Health Organization (WHO), around 50 million people are affected by epilepsy worldwide. Moreover, it is estimated that approximately 2.4 million new cases of epilepsy globally are diagnosed every year. According to the Epilepsy Society of the U.K., there are over 20 medications available to treat epilepsy, including barbiturates, carboxamides, carbamates, and GABA analogs. There are also about 25 generic versions of these medications on the market.
To enhance their market position in the global anticonvulsants market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
Market growth and trends:
Increasing government organizations' support for drug approval drives the market's growth. Furthermore, the rising prevalence of epilepsy globally propels the market's growth. The growing approval for anticonvulsant drugs by the U.S. Food and Drug Administration (FDA) contributes highly to the market's growth. The FDA approves around 24 anticonvulsant drugs. However, the unavailability of convenient dosage forms and the high costs of both branded and generic anticonvulsants are restraining the growth of the anticonvulsants market. The increasing R&D activities to help manufacture several anticonvulsant drugs provide an opportunity for the market's growth over the forecast period. Furthermore, the growing incidences of epilepsy increase the demand for therapeutically effective medications creating pressure among market players to create anticonvulsants.
The product type segment is divided into barbiturates, succinimides, AMPA, NMDAR, carbamate anticonvulsants, triazine, hydantoins, benzodiazepines, and others. In 2021, the AMPA segment dominated the market with the largest market share of 11% and revenue of 2.1 billion. Epilepsy patients widely use AMPA anticonvulsants to treat partial onset seizures, driving the segment's growth.
The application segment is divided into migraine, epilepsy, fibromyalgia, anxiety, neuropathic pain, and bipolar disorder. In 2021, the epilepsy segment accounted for the largest share of the market, with 17% and a market revenue of 3.2 billion. The rising awareness about anticonvulsants drug for treating epilepsy also drives the segment's growth.
The end-user segment is divided into hospitals, clinics, and ambulatory surgical clinics. In 2021, the hospital segment accounted for the largest share of the market, with 40.8% and market revenue of 7.8 billion. Hospitals also have better facilities for treating all kinds of diseases, including neurological disorders, which propel the market growth in the hospital segment.
Regional Segment Analysis of the Anticonvulsants Market:
Among all regions, North America emerged as the largest market for the global anticonvulsants market, with a market share of around 34.8% and 6.68 billion of the market revenue in 2021. The increasing incidences of epilepsy in the region raise the demand for anticoagulants. Furthermore, the surge in the number of neurological disorders in the region, coupled with increasing investment in healthcare facilities, propels the market's growth in the region. The rising collaboration between governments and pharmaceutical companies significantly contributes to the region's market growth.
Key players operating in the global anticonvulsants market are:
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Brainy Insights has segmented the global anticonvulsants market based on the below-mentioned segments:
Global Anticonvulsants Market by Product Type:
Global Anticonvulsants Market by Application:
Global Anticonvulsants Market by End-User:
About the report:
The global anticonvulsants market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Buy this Research Report at https://www.thebrainyinsights.com/buy-now/12920/single
This report can be customized to meet the client’s requirements. Please connect with our sales team (firstname.lastname@example.org), who will ensure that you get a report that suits your needs. You can also get in touch with our executives on +1-315-215-1633 to share your research requirements.