Antiepileptic Drugs Market Industry Development Scenario and Forecast
Antiepileptic drugs refer to the anti-seizure drugs and are developed as a part of the idiopathic and asymptomatic treatment of problems related to epileptic. The problems of epileptic involves the repeating acts that normally happen because of wrong sign that are directed to the brain by the nerve cells. Such drugs are also used in the treatment of pain associated with neuropathic.
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In addition to this several antiepileptic drugs are also utilized as a part of different signs as neuropathic pain, psychiatry and migraine. There are several antiepileptic drugs currently present on the market, and it has helped to cure several patients. The new treatments that are discovered are usually accepted as adjunct therapies.
The rapid growth in the elderly population in many of the developed countries across the globe is driving the demand for antiepileptic drugs. The aging population is rising in the countries such as Italy, Germany, Greece and also in Japan. For instance Japan recorded elderly population who are aged 65 and above constitute 26% of the total population. However, expiration of the drug patents are likely to be the major restraint to the global antiepileptic drug market.
Pharmaceutical company invests huge amount of money in the development process of the drug but when the patents expire that results to the decrease in the pace of the drug flood in the market. For instance, Sabril which is antiepileptic drug expired in February 2017. The drug is used with combination of other medicines that are used to treat both adults and children.
The market has been segmented into different drug type, therapeutic uses and distribution channel. On the basis of different drug type the market has been segmented into Phenytoin, Oxycarbazepine Carbamazepine, Valproate, Topiramate, Ethosuximide, Primidone, Phenobarbital, Rufinamide, Levetiracetam, Ezogabine/retigabine among others. On the basis of therapeutic uses the market has been segmented into generalized and partial.
Diazem drug is used as a generalized uses and not on partial uses. The market has been further segmented on the basis of distribution channel such as retail pharmacies, hospital pharmacies, drug store and online channel among others. Retail pharmacies dominated the market as grabbed the maximum profit over the years. Revenue in retail pharmacies continues to recover from 2014 and it has been recorded with revenue rising to US$ 16.3 billion in the year to June 2017
In terms of region wise study the global antiepileptic drug market has been segmented into North America, Europe, Asia Pacific, Middle East and Africa and South America. North America dominated the market owing to the rising expenditure on health care service in United States. For instance, epilepsy affected 2.5 million people in United States and that results to approximately US$ 15.5 billion in health care.
In addition to this new introduction of antiepileptic drugs has also boosted the growth of the market inrecent years. For instance, perampanel, ezogabine/retigabine and eslicarbazepine acetate are the new drugs that are introduced. Asia-Pacific witnessed the fastest growth during the forecast period owing to the high occurrence of epilepsy in China and India. In addition to this improved penetration due to better market access options present in China has also resulted to the rise in the growth of the Asia Pacific market.
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The players associated with the antiepileptic drug market is expected to intensify over the years. Companies engage upon new product launch in order to grab a larger part of the market share compared to the competitors. For instance, Mylan launched innovative Version of Antiepileptic Drug Levetiracetam in 2012. Some of the major players of the market are Cephalon, Inc, Abbott Laboratories, Novartis AG, Pfizer, Inc, Sunovion Pharmaceuticals, Inc. GlaxoSmithKline plc, Valeant Pharmaceuticals International, Inc, Johnson & Johnson, among others.
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