The factors that drive the growth of the global epilepsy drugs market are the rise in the prevalence of epilepsy, the growing awareness about epilepsy and its treatment options among people, an increase in the number of healthcare professionals, the rise in the geriatric population, and the rise in initiatives by non-government and government organizations to increase awareness about epilepsy among patients through different programs and campaigns.
/EIN News/ — Portland, OR, May 05, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global epilepsy drugs market generated $7 billion in 2022, and is estimated to reach $9.8 billion by 2032, witnessing a CAGR of 3.5% from 2023 to 2032. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
|Market Size in 2022||$7 Billion|
|Market Size in 2032||$9.8 Billion|
|No. of Pages in Report||290|
|Segments Covered||Seizure Type, Drugs Generation, Distribution Channel, and Region|
|Drivers||The rise in the prevalence of epilepsy|
|The growing awareness about epilepsy and its treatment options among people and an increase in the number of healthcare professionals|
|Th rise in the geriatric population which is more prone to develop epileptic conditions|
|Opportunities||The rise in initiatives by non-government and government organizations to increase awareness about epilepsy among patients through different programs and campaigns|
|Restraints||Limited access to healthcare services, especially in rural or underserved areas can hinder the diagnosis and treatment of epilepsy, leading to reduced demand for epilepsy drugs|
- The outbreak of the COVID-19 pandemic severely impacted the growth of the epilepsy drugs market. This is because it caused disruption in workflows in the health care sector globally. Many industries were compelled to shut their doors temporarily, including several sub-domains of healthcare.
- The global epilepsy drugs industry faced a decline in 2020 due to pandemic-induced global economic recession.
- Moreover, the pandemic caused interruptions in the supply chain across various end-user industries, such as pharmaceutical and medical devices companies. In addition, a decrease in sales of epilepsy drugs during the pandemic hampered the market growth.
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The report offers a detailed segmentation of the global epilepsy drugs market based on seizure type, drugs generation, distribution channel, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
Based on seizure type, the focal seizures segment captured the largest market share of nearly three-fifths of the global epilepsy drugs market in 2022 and is expected to lead the trail during the forecast period. The generalized seizures segment, however, is estimated to witness the fastest CAGR of 3.8% during the forecast period. The report also discusses the non-epileptic seizures segment.
In terms of drugs generation, the second-generation drugs segment captured the largest market share of nearly three-fifths of the global epilepsy drugs market in 2022 and is expected to lead the market in terms of revenue during the forecast period. However, the third-generation drugs segment is likely to achieve the fastest CAGR of 5.4% through 2032. The report also studies the first-generation drugs segment.
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Based on distribution channel, the drug stores and retail pharmacies segment held the largest share in 2022, accounting for more than half of the global epilepsy drugs market and would dominate the market in terms of revenue through 2032. The online providers segment, however, is estimated to witness the fastest CAGR of 6.2% during the forecast period. The report also analyzes the hospital pharmacies segment.
Based on region, the market in North America was the largest in 2022, accounting for nearly two-fifths of the global epilepsy drugs market and is likely to maintain its dominance during the forecast period. The market in the Asia-Pacific region is expected to manifest the highest CAGR of 4.3% from 2022 to 2032. The other regions analyzed in the study include Europe and LAMEA.
Leading players of the global epilepsy drugs market analyzed in the research include Abbott Laboratories, Bausch Health Companies, Inc., GlaxoSmithKline plc, H. Lundbeck A/S, Johnson & Johnson, Novartis AG, Sanofi, Sumitomo Pharma Co., Ltd., UCB S.A., and Viatris Inc.
The report analyzes these key players of the global epilepsy drugs market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Originally published at https://www.einpresswire.com/article/632013018/epilepsy-drugs-market-is-expected-to-reach-9-8-billion-by-2032-allied-market-research