Global Epilepsy Therapeutics Market: Overview
Epilepsy refers to a chronic disorder in which seizures reoccur unprovoked. The cases of epilepsy exhibit more than one type of seizure and may have other symptoms of neurological problems too. Sometimes family background, clinical history, and EEG testing reflect similar symptoms among a group of people, which is defined as a specific epilepsy syndrome.
Though the symptoms of seizure can affect any part of the body, human brain is the source of epilepsy, and a vast population suffer from this disorder across the world. According to the World Health Organization (WHO), nearly 50 million people have epilepsy globally, which makes it one of the most common neurological diseases worldwide. The demand in the global epilepsy therapeutics market is sustained by this large population, which is projected for a healthy growth rate during the forecast period of 2016 to 2024.
This report on global market for epilepsy therapeutics market is a comprehensive analysis of all the factors that are expected to influence the growth rate and presents a figurative estimation of the opportunities. The report also highlights some of the key trends in the market, which must be utilized by the current players and gain advantage over their competitors. The present a clear picture of the competitive landscape, the report also profiles some of the leading players and gives-out their market share, product portfolio, and strategic developments.
The global epilepsy therapeutics market is categorized into two major categories, namely first generation anti-epileptic drugs (AEDs) and second generation anti-epileptic drugs. Second generation AEDs consist of medicines with different mechanism of action than the first generation drugs. While first generation AEDs such as valproate, carbamazepine, oxycarbazepine, and phenytoin currently dominate the demand in the global epilepsy therapeutics market, second generation AEDs such as zonisamide, levetiracetam, and lacosamide are steadily overtaking the market, gaining favor due to its improved efficacy and tolerability.
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Global Epilepsy Therapeutics Market: Trends and Opportunities
Besides an existing large patient base and the increasing prevalence of neurological disorders, the report observes that timely therapeutics leads to a positive response approximately in 70% of the case. This factor entices physicians to recommend the latest therapeutics and patients actively indulge into the process. The technological advancements in epilepsy therapeutics is another factor favoring the growth rate.
Additionally, the awareness pertaining to the availability of latest diagnostics and treatment methods among the consumers is on the increasing, which will further increment the demand during the forecast period. However, the WHO report observes that nearly 80% of the people with epilepsy live in low-and middle-income countries with poor medical facilities, which is the primary factors expected to hinder the growth rate.
The prescribing pattern of drugs that give preference to first generation AEDs over second generation AEDs is also expected to act as a restraint over the market. However, ongoing research and development in the healthcare literacy rate will open new growth avenues for the market players in the near future. In the US, three new anti-epileptic drugs have been approved since 2012, which are Aptiom, Trobalt, and Fycompa, while brivaracetam is expected also to be launched soon.
Global Epilepsy Therapeutics Market: Region-wise Outlook
Currently, North America serves the maximum demand for epilepsy therapeutics, primarily driven by the country-wide market of the U.S. and Canada, which have robust healthcare infrastructure. However, several emerging economies in the region of Asia Pacific are actively improving their medical facilities and disposable income is increasing in these parts too, which will reflect on extended demand from this regional market.
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Companies mentioned in the research report
Pfizer, Inc., Novartis AG, Abbott Laboratories, GlaxoSmithKline plc, Johnson & Johnson, Cephalon, Inc., Sunovion Pharmaceuticals, Inc., Valeant Pharmaceuticals International, Inc., Sanofi S.A. and Shire.