Epileptic Seizures Treatment Market: Increasing Focus on Providing Seizure-free Life to Fuel Innovations
Epileptic Seizures Treatment Market: Introduction
According to the report, the global epileptic seizures treatment market was valued at US$ 1.2 Bn in 2019 and is projected to expand at a CAGR of ~4% from 2020 to 2030. In epilepsy, the brain activity becomes abnormal, resulting in recurrent seizures that are short episodes of involuntary movement, which may involve a part of the body or the entire body. These seizures in some cases cause loss of consciousness and bladder function, or bowel control. An epileptic seizure is defined as a period of symptoms due to abnormally excessive or synchronous neuronal activity in the brain. Treatment for epileptic seizures include benzodiazepines, phenytoin, and dosphenytoin. Benzodiazepines are first-line treatment for status epilepticus and repetitive seizures due to better efficacy and quicker action.
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Rise in Prevalence of Epilepsy with Increase in Status Epilepticus & Repetitive Seizures to Drive Global Market
Increase in patient population with status epilepticus and acute repetitive seizures is the major factor fueling the growth of the global epileptic seizures treatment market. According to the World Health Organization (WHO), epilepsy accounts for a considerable proportion of the world’s disease burden; globally, more than 50 million people are affected by this disease. The introduction of novel drug treatments and routes of administration for epileptic seizures and genetic factors associated with brain malformations & epileptic seizures are other factors accelerating the growth of the global epileptic seizures treatment market. Moreover, increase in incidence of cardiovascular diseases, head injuries, brain cancer, infections, and substance abuse drives the global epileptic seizures treatment market.
Diazepam to be Lucrative Segment
In terms of therapeutic, the global epileptic seizures treatment market has been classified into midazolam, alprazolam, diazepam, lorazepam, phenytoin, fosphenytoin, and others. The lorazepam segment dominated the global market in 2019 owing to quick action, long lasting effect, large number of lorazepam prescriptions, and patient preference for oral route. Diazepam is likely to be a promising segment during the forecast period. New route of administration, strategic collaboration between companies for development & commercialization of diazepam, and lower prescription cost for diazepam are the major factors attributed to the higher growth of the diazepam segment.
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Status Epilepticus to Dominate Market
Based on type, the global epileptic seizures treatment market has been categorized into repetitive seizures, status epilepticus, and others. The status epilepticus segment accounted for major market share in 2019, owing to rise in number of patients with status epilepticus, pipeline products, new route of administration with better effective ways for the treatment, and rise in awareness about status epilepticus treatment. The status epilepticus segment has been bifurcated into convulsive status epilepticus and non-convulsive status epilepticus.
Nasal to be Preferred Route of Administration
In terms of route of administration, the global epileptic seizures treatment market has been divided into oral/buccal, rectal, nasal, and parenteral. The oral/buccal segment dominated the global epileptic seizures treatment market in 2019. The trend is expected to continue from 2020 to 2030 owing to patient convenience with oral route, approval & launch of buccal film medications, availability of a large number of products that can be administered through oral route, and new products with better patient compliance. Nasal is likely to be a highly lucrative segment during the forecast period. The segment is projected to expand at a higher CAGR during the forecast period due to new drug approval, better penetration among patients due to convenient route, and better tolerability.
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Retail Pharmacies to Hold Major Market Share
Based on distribution channel, the global epileptic seizures treatment market has been segregated into hospital pharmacies, retail pharmacies, and online pharmacies. The retail pharmacies segment accounted for major share of the global market in 2019 due to easy availability of branded as well as generic drugs, increase in number of pharmacy retail chain stores, and joint ventures & strategic collaboration partnerships between retail pharmacy giants.
North America to Dominate Global Market
The global epileptic seizures treatment market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a major share of the global epileptic seizures treatment market in 2019, owing to rise in prevalence of neurological disorders, increase in brain injuries, recent drug approvals, and well-established healthcare infrastructure. An article published by the National Center for Biotechnology Information, U.S. Library of Medicine in February 2016 stated that every year 50,000 to 150,000 people in the U.S. suffer from status epilepticus, with mortality estimated at less than 3% in children, but up to 30% in adults. The market in Asia Pacific is projected to expand at a higher CAGR during the forecast period, owing to rise in awareness about epileptic seizures, higher epilepsy patient population, increase in focus on improving healthcare sector, surge in geriatric population, and market players strengthening their footprint in the region.
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The global epileptic seizures treatment market is fragmented in terms of number of players, with entry of several new players. Key players in the global market include Bausch Health Companies, Inc., GlaxoSmithKline plc., UCB S.A., Pfizer, Inc., Apotex, Inc., Alexza Pharmaceuticals, Inc., Neurelis, Inc., and Veriton Pharma. New product development with new route of administration, mergers, acquisitions & strategic collaborations, distribution tie-ups, and increased research & development expenditure are the major strategies adopted by leading companies in the global epileptic seizures treatment market.
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