Wilmington, Delaware, United States, Transparency Market Research Inc. – Epilepsy is a chronic neurological disorder that can cause unfounded and ongoing seizures.
Wilmington, Delaware, United States, Transparency Market Research Inc. – Epilepsy is a chronic neurological disorder that can cause unfounded and ongoing seizures. A person suffering from this disease may experience seizures with no explanation. These seizures can be caused by a previous brain injury or any traumatic event; however, the exact cause is still unknown.
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This condition is most common in adults and children, though the elderly population is also susceptible to it. Almost every patient with multiple seizures begins treatment with epilepsy medications or therapeutics. These medications prevent seizures by decreasing the brain cells' proclivity to direct disorganized and excessive electrical impulses.
Epilepsy Therapeutics Market Outlook 2031
- The global epilepsy therapeutics market was valued at US$ 10.6 Bn in 2021
- The global market is projected to grow at a CAGR of 3.5% from 2022 to 2031
- The global epilepsy therapeutics market is anticipated to reach more than US$ 14.9 Bn by the end of 2031
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Most of the people with epilepsy can control their seizures with medication, or in some cases, surgery. Some people need treatment for the rest of their lives to control their seizures, but for others, the seizures eventually go away. Some children with epilepsy may outgrow it. Rise in public awareness about the treatment of neurological disorders combined with high adoption of antiepileptic drugs (AEDs) is expected to drive the epilepsy market size. Decrease in stigma associated with epilepsy is expected to drive the demand for appropriate treatment and care.
According to World Health Organization statistics for 2022, approximately 50 million people worldwide have epilepsy, making it one of the most common neurological diseases worldwide. Epilepsy is estimated to affect 49 people out of every 100,000 in high-income countries each year. This figure can reach 139 per 100 000 in low- and middle-income countries. However, up to 70% of people can live seizure-free lives if epilepsy is properly diagnosed and treated.
Introduction of Novel Drug Treatments for Epilepsy to Drive Global Market
According to a ResearchGate study, anti-epileptic drugs (AEDs) are regarded as the most important types of drug treatment for epilepsy patients. Discovery of these drugs has nearly doubled since the 1980s. If a single AED does not control the occurrence of seizures, a combination of AEDs, known as polytherapy, is usually recommended. According to NCBI, an important trend in current anti-epileptic drug development focuses on approaches containing new pharmacology that can target therapies for specific subpopulations with drug-resistant epilepsy. According to the Journal of Drug Delivery and Therapeutics, new anti-epileptic drugs have been developed with fewer side effects and greater efficacy than those currently available.
According to the FDA, Epidiolex (cannabidiol) [CBD] oral solution was approved in June 2018 for the treatment of seizures associated with two rare and severe forms of epilepsy – Lennox-Gastaut syndrome and Dravet syndrome – in patients two years of age and older. This is the first FDA-approved drug that contains a purified marijuana-derived drug substance. It is also the first FDA approval of a drug for the treatment of Dravet syndrome patients. Three randomized, double-blind, placebo-controlled clinical trials involving 516 patients with either Lennox-Gastaut syndrome or Dravet syndrome were conducted to assess the efficacy of Epidiolex. When used in conjunction with other medications, Epidiolex was shown to be more effective than placebo in reducing the frequency of seizures. Such novel drugs have fewer side effects, greater specificity, and higher efficacy.
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Rise in Head Injuries, Brain Cancer, Infections, and Substance Abuse to Propel Demand for Epilepsy Therapeutics
According to the NCBI, brain tumors are the second most common cause of epilepsy in the geriatric population, accounting for 10% to 30% of all causes of geriatric epilepsy. Epilepsy is a common symptom in patients with brain tumors. Seizures are the onset symptom in 20% to 40% of brain tumor patients; about 20% to 45% of patients are likely to have epileptic seizures during the course of the disease. According to the International League Against Epilepsy (ILAE), infections in the central nervous system, such as meningitis, encephalitis, and neurocysticercosis, can result in both acute symptomatic seizures (which occur in a time frame related to the initial infection) and epilepsy. Alcohol or drug abuse as well as failure to take prescribed anticonvulsant medication are key factors that are likely to increase the risk of seizures in people who are predisposed to seizures, according to the American Association of Neurological Surgeons.
R&D, Product Launches, Acquisitions, and Collaborations Creating Lucrative Opportunities for Epilepsy Therapeutics Companies
Extensive R&D activities form the foundation of new and advanced epilepsy therapeutics, improving their effectiveness, efficacy, and pharmacokinetics vis-à-vis currently available products in the market. Companies developing epilepsy therapeutics are focusing on creating antiepileptic drugs with improved tolerability, efficacy, and fewer side effects.
Several market participants develop novel products, obtain government approvals, launch new products, collaborate and form partnerships, engage in acquisitions and mergers, and create profit-making opportunities to strengthen their position in the epilepsy therapeutics market. Brivasure, a reasonably priced anti-epileptic medication for treating epilepsy in India, was introduced in March 2021 by Mumbai-based Alkem Laboratories. An entire line of Brivaracetam, an anti-epilepsy medicine, would be made available in India at a reasonable price, according to plans revealed by Sun Pharmaceutical Industries in February 2021. In 2019, Teva Pharmaceutical Industries Ltd. announced the U.S. launch of a generic version of Sabril (Vigabatrin). It was the first generic version of Sabril (vigabatrin) tablets to enter the market in the U.S. Furthermore, continuous innovations and developments in the field of epilepsy therapeutics industry are driving the market. For instance, art therapy for epilepsy, which allows people to explore their emotions and feelings through the process of creating, painting, or drawing, is gaining prominence across the globe.
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Decreased Drug-drug Interactions, Fewer Life-threatening Adverse Events, and Less Negative Impact on Cognitive Functions to Drive Second Generation Epilepsy Therapeutics Segment
In terms of product, the global epilepsy therapeutics market has been classified into first generation epilepsy therapeutics, second generation epilepsy therapeutics, and third generation epilepsy therapeutics. The second generation epilepsy therapeutics segment is expected to dominate the global market during the forecast period. Second generation epilepsy therapeutics offer several benefits such as decreased drug-drug interactions, fewer life-threatening adverse events, and less negative impact on cognitive functions. According to the American Academy of Neurology, second generation AEDs have lower risk of teratogenesis and a more favorable side-effect profile as compared to that of first generation epilepsy therapeutics.
Convenient, Cost-effective, and Non-invasive Oral Medications Propelling Oral Segment
Based on route of administration, the global epilepsy therapeutics market has been segregated into oral, intravenous, intramuscular, and others. The oral segment held prominent share of the global market in 2021. Oral administration is the most convenient, safest, and simplest mode of drug administration. It is convenient for prolonged and repeated usage. It can be self-administered and is pain-free. However, the intravenous segment is projected to grow at the fastest CAGR during the forecast period. Major technological innovations in the medical sector and emergence of effective analgesic drugs are expected to augment the segment.
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Increase in Technology Advancements and Awareness to Fuel Online Pharmacies Segment
In terms of distribution channel, the global epilepsy therapeutics market has been divided into hospital pharmacies, retail pharmacies, and online pharmacies. The online pharmacies segment is expected to grow at a rapid pace during the forecast period. Online pharmacies (e-pharmacies) sell drugs to customers via mail or shipping services. The pandemic-induced shutdowns and lockdowns have led to an increase in online drug purchases. Businesses and customers are increasingly preferring contactless delivery. This trend is expected to continue even after the pandemic. However, the hospital pharmacies segment is projected to account for the largest share of the global epilepsy therapeutics market during the forecast period.
Regional Outlook of Global Epilepsy Therapeutics Market
North America accounted for major share of around 50.0% of the global epilepsy therapeutics market in 2021. The U.S. is the largest epilepsy drug market in the region, led by the improved healthcare infrastructure and rise in epilepsy cases in the country. According to the Centers for Disease Control and Prevention, approximately 470,000 children and 3 million adults in the U.S. had active epilepsy in 2020. The number of Americans suffering from epilepsy is higher than those suffering from multiple sclerosis, Parkinson's disease, and cerebral palsy combined. As a result, the future for epilepsy treatment options is high in the region. Furthermore, various organizations in the U.S. are raising awareness about epilepsy. For instance, Epilepsy Awareness Day or Purple Day is observed annually on March 26 to increase public understanding of the brain disorder and eliminate the fear and stigma associated with it. Thus, the market for epilepsy therapeutics is expected to grow rapidly in the near future. Development of products with high efficacy, better outcomes, and fewer side effects is also likely to accelerate market growth in North America.
The market in Asia Pacific is expected to grow at a significant pace during the forecast period. This can be ascribed to the ever-increasing geriatric population base, government initiatives to improve the healthcare industry, increased activities related to research and development, and rise in prevalence of epilepsy in the region.
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Analysis of Key Players in Global Epilepsy Therapeutics Market
The global epilepsy therapeutics market is consolidated, with the presence of small number of leading players. Most of the companies are investing significantly in research & development activities, primarily to introduce advanced epilepsy therapeutics products. Key players are entering into strategic alliances to increase their revenue and market share. Furthermore, diversification of product portfolios and mergers & acquisitions are the prominent strategies adopted by the leading players.
Pfizer, Inc., UCB S.A., Bausch Health Companies Inc., Novartis AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Sunovion Pharmaceuticals Inc., Eisai Co., Upsher-Smith Laboratories, LLC., and Amneal Pharmaceuticals LLC. are the key players operating in the global epilepsy therapeutics market.
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