Gabapentin Market Size: Gross Margin, Cost, And Revenue Forecasts For 2023-2031

The Global Gabapentin Market is valued at approximately USD 2.02 billion in 2021 and is expected to grow at a healthy growth rate of over 5.35% during the forecast period of 2022-2029.

Gabapentin is an anti-convulsant drug used to control seizures in people with epilepsy. It is also used in the treatment of Restless Legs Syndrome (RLS) and certain types of nerve pain.

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The market growth is driven by factors such as the increasing demand for generic formulations of gabapentin, the growing use of the drug as a pain reliever, and the rise in the number of elderly people. Government support activities and pharmaceutical companies' investment in research and development are also contributing to the market demand.

The market is further propelled by the rising incidences of neuropathic pain and epilepsy. According to the World Health Organization (WHO), approximately 50 million people worldwide are affected by epilepsy, with nearly 5 million new cases diagnosed each year. Awareness campaigns and prevention programs are being conducted to address these conditions, which contribute to the growing market demand.

However, the market growth faces challenges such as rising product recalls and increasing incidences of gabapentin misuse. These factors may impact the market throughout the forecast period.

In terms of regional analysis, North America dominates the market in revenue due to the increasing prevalence of neurological disorders and chronic pain conditions, as well as the rise in product approvals. On the other hand, the Asia Pacific region is expected to grow at the highest compound annual growth rate (CAGR) during the forecast period. This growth can be attributed to factors such as an increase in point-of-care diagnostics, growing awareness of the benefits of gabapentin compared to opioids, and rising healthcare spending in the region.

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Some of the major players in the Global Gabapentin Market include Zydus Pharmaceuticals, Glenmark Pharmaceuticals, Sun Pharmaceutical Industries, Ascend Laboratories, Apotex, Teva Pharmaceutical Industries, Aurobindo Pharma, Amneal Pharmaceuticals, Cipla USA, and BP Pharmaceuticals Laboratories.

Recent developments in the market include Glenmark Pharmaceuticals receiving approval from the United States Food & Drug Administration (FDA) for its generic version of tablets.

The report provides a comprehensive scope of the market, including historical data from 2019-2021, the base year for estimation in 2021, and a forecast period of 2022-2029. It covers revenue forecasts, company rankings, competitive landscape, growth factors, and trends. The market is segmented based on type, dosage form, application, distribution channel, and region.

Overall, the report aims to provide insights into the market size, growth potential, driving factors, challenges, and opportunities for stakeholders. It incorporates both qualitative and quantitative aspects of the industry and offers detailed analysis of the competitive landscape and product offerings of key players.'

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