Oxcarbazepine Drug Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast - 2022 to 2028

The global oxcarbazepine drug market is anticipated to grow at a CAGR of 3.2% during the forecast period (2022-2028). The increasing cases of epilepsy and seizure are increasing rapidly which has increased the need for advanced treatment globally. Oxcarbazepine drug is used in the treatment of both epilepsy and seizure. In February 2022 According to WHO, epilepsy affects around 50 million people globally, making it one of the most common neurological illnesses. If properly diagnosed and treated, it is believed that up to 70% of persons with epilepsy could live seizure-free.

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According to the Epilepsy Foundation of America, new cases of epilepsy are most common in children, particularly between birth till one year. The rate of new cases of epilepsy generally decreases until around the age of ten, after which it remains rather constant for teens and adults will grow the market of oxcarbazepine drugs. Generally, the course of medicine is longer in epilepsy. The tablet type of oxcarbazepine drug is used more than oral suspension globally. Oral suspensions are generally used in hospitals and clinics.

North America region is anticipated to hold a prominent share in the market during the forecast period due to advance healthcare facilities and research and development in the oxcarbazepine drug. Another factor that influences the oxcarbazepine drug market is the increasing awareness level across the globe regarding drugs, their uses, it empowers people to know more about the disease and its treatment.

Oxcarbazepine (Trileptal) is used alone or in combination with other medications to control certain types of seizures in adults and children. Oxcarbazepine extended-release tablets (Oxtellar XR) are used in combination with other medications to control certain types of seizures in adults and children 6 years of age and older. Oxcarbazepine is in a class of medications called anticonvulsants. It works by decreasing abnormal electrical activity in the brain. For instance, Glenmark Pharmaceutical Inc. offers Trileptal Tablets in 150mg, 300mg, and 600 mg strengths.

Oxcarbazepine is an antiepileptic medication. It controls seizures or fits by decreasing the abnormal and excessive activity of the nerve cells in the brain. For instance, Novartis India Ltd. offers Trioptal 300 Tablet, It is used to treat and prevent epilepsy (seizures). However, it cannot cure epilepsy and will only work to prevent seizures for as long as patient continue to take the medicine. Trioptal 300 Tablet may be used alone or in combination with other medicines.

Some major players in the market include ANI Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., Novartis AG, Supernus Pharmaceuticals, Inc., Taro Pharmaceuticals Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market.

For instance, in June 2016 ANI Pharmaceuticals, Inc. received approval from the U.S. Food and Drug Administration ("FDA") of the Prior Approval Supplement ("PAS") for Oxcarbazepine Tablets, 150mg, 300mg, and 600mg.  The current annual U.S. market for this product, based on trailing twelve months sales, is $145 million according to IMS Health. For instance, in December 2018 The United States Food and Drug Administration (FDA) has approved the Supernus Pharmaceuticals, Inc. supplemental new drug application for Oxtellar XR. The application requested FDA approval to expand the indication for Oxtellar XR beyond the current indication of adjunctive therapy in the treatment of partial-onset seizures in adults and in children 6 to 17 years of age.

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By Application
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- ANI Pharmaceuticals, Inc., Glenmark Pharmaceutical Inc., Novartis AG, Supernus Pharmaceuticals, Inc., Taro Pharmaceuticals Industries Ltd., among others.

Key questions addressed by the report

What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?

Global Oxcarbazepine Drug Market Report by Segment

By Type

Tablet
Oral Suspension

By Application

Adult
Pediatric

 

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This release was published on openPR.