Pregabalin Market: A Broad Understanding of Its Whereabouts

In a recently published Allied Market Research report, the global pregabalin market is expected to generate a revenue of $2.2 billion by 2032 with a CAGR of 3% from 2023 to 2032 from its estimated market value of $1.6 billion in 2022. The report offers a detailed study of market dynamics, trends, and updates of the industry, competitive landscape, and performances of key players along with their strategic moves.

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Pregabalin is a medicine used for treating epilepsy seizures, anxiety, and neuropathic pain. It stops seizures in epilepsy by dropping peculiar electrical activity in the brain and relieves a patient from nerve pain by reducing neurotransmitters carrying pain signals from the brain down the spine. The drug is often used for several conditions including anxiety disorder along with its FDA-approved applications. The increasing number of these cases influences the demand for Pregabalin in the market.

Segmentation analysis

The pregabalin market is broadly analyzed under four segments, namely distribution channel, type, application, and region. By distribution channel, it is fragmented into online providers, drug store and retail pharmacies, and hospital pharmacies. According to type, it is bifurcated into tables and capsules, and others. Depending on application, the pregabalin market is divided into epilepsy, neuropathic pain, and others.

Region-wise, the market is studied across four major regions, covering nearly 20 countries and other regions. It includes Europe (the UK, Spain, Germany, Italy, France, and rest of Europe), LAMEA (Argentina, Colombia, Brazil, North Africa, GCC, South Africa, and rest of LAMEA), North America (Mexico, the U.S., and Canada), and Asia-Pacific (China, South Korea, India, Japan, and rest of Asia-Pacific).

A brief note on factors influencing the market

The pregabalin market report probes into the factors influencing the growth of the market and opportunities for its growth. It also mentions the shortcomings that hinder the market expansion. Additionally, it highlights the competitive landscape within the industry by implementing specific and accurate analytical tools like Porter's five forces.

According to WHO (World Health Organization), about 50 million people worldwide are affected by epilepsy in February 2022. This growing number of epilepsy patients and related neuropathic ailments is the primary factor influencing the market. Moreover, there has been a rise in neuropathic pain amongst COVID-19 affected patients post the infection, often causing worsened neurological difficulties. Moreover, an increasing geriatric population with nerve pain is anticipated to boost the growth of the pregabalin market. North America is anticipated to hold the largest market share during the forecast period, owing to the above reasons, and easy availability of the drug due to the strong presence of key players. All these factors are expected to create lucrative opportunities for the pregabalin drug market in the coming years.

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Competitive scenario

The competitive analysis of the market discusses the performances of the leading companies in the industry and the key strategies undertaken by them to strengthen their position in the market. This includes collaborations, partnerships, acquisitions, mergers, and product launches that eventually contribute to the overall growth of the industry.



The key players are:

Cipla

Rising Pharmaceutical

Lupin

Vaitris Inc.

Amneal Pharmaceuticals

Novartis AG

Teva Pharmaceutical

Zydus

Medley Pharmaceuticals

ScieGen Pharmaceuticals, Inc.

Major players among them have embraced product launch as their key strategy to enhance their portfolio.



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Contemporary trends and updates in the industry

Strides Pharma Science shares price increased on January 29, 2024, after receiving approval from USFDA (the United States Food and Drug Administration) for selling a generic medicine for nerve pain. Strides Pharma Global Pte Limited of Singapore received acceptance to sell Pregabalin capsules (300mg, 150mg, 75mg, 200mg, 100mg, 50mg, 225mg, and 25mg) from the U.S. drug controller.

However, The Economic Times article published in November 2023, stated that the Drugs Controller General of India was planning to ban over-the-counter sales of Pregabalin and Tapentadol to restraint misuse across various part of the country.

AGP Limited, a Pakistani pharma firm acquired selected products from an American firm named Viatris Inc in April 2023. This portfolio includes pregabalin with other ophthalmology and anti-hypertensive drugs.

In June, the same year, FDA approved the application of SinoT's ANDA for PREGABALIN EXTENDED-RELEASE TABLETS (330 mg, 82.5 mg, and 165 mg) for the treatment of nerve pain with PHN (Postherapic neuralgia) and DPN (Diabetic peripheral neuropathy).

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