Global Anticonvulsant Drugs Market Is Estimated To Witness High Growth Owing To Increasing Incidences Of Epilepsy Globally And Rising Healthcare Expenditure

Anticonvulsant Drugs Market
Anticonvulsant Drugs Market

Overview:

Anticonvulsant drugs are drugs that work by affecting the way the brain sends signals to the nervous system. These drugs help prevent seizures in people with epilepsy. They are also used to control mood symptoms in bipolar disorder and to relieve nerve pain from diabetes or other conditions. Some of these drugs can cause side effects that can be serious, especially when they are taken for a long time.

Some anticonvulsants can decrease the amount of platelets in the blood, which are needed for clotting. Some anticonvulsants can also affect the liver and kidneys over the long term. The most widely prescribed antiepileptic medicines are used to treat seizure disorders, as they can also be used for symptom management in some people with bipolar disorder and for neuropathic pain. Sodium valproate is the most effective drug for epilepsy, as it has higher rates of teratogenicity than levetiracetam or lamotrigine.

Market Dynamics:

Rising acquisitions by key players are estimated to augment growth of the global Anticonvulsant Drugs Market during the forecast period. For instance, Belgium-based biopharmaceutical company “Union Chimique Belge”, declared the acquisition of “Handl Therapeutics” in November 2020. Handl is known for their gene therapies that are used for treating neurodegenerative illnesses. Moreover, rising costs of drugs and easy availability of alternative options is anticipated to restrain growth of the global anticonvulsant drugs for market during the forecast period

Impact of COVID-19:

COVID-19 was first identified in 2019 in China. Later on, the virus spread to other countries. The World Health Organization declared the pandemic as a public health emergency in 2020. Many nations imposed strict restriction for protecting their population and preventing the transmission of the virus. The pandemic also affected the global economy as trade activities were affected and businesses were shut down.

There was a lack of resources in many nations, as majority of the resources were being utilized for treating COVID-19 patients. Many pharmaceutical companies and research organizations also started focusing their resources on developing drugs and vaccine for COVID-19. This had a negative impact on the global anticonvulsant drugs for market, as the demand and production of anticonvulsant drugs decreased worldwide.

Key Takeaways:

The global Anticonvulsant Drugs Market is expected to witness robust growth, exhibiting CAGR of 1.4 % over the forecast period, due to rising approvals from regulatory authorities.

For instance, Lupin gained approval from the US FDA for their Vigabatrin, in March 2022. This is an anti-epileptic drug that is available in the form of an oral solution.

North America is anticipated to witness robust growth in the global anticonvulsant drugs for market during the forecast period, due to rising awareness campaigns and increasing launch of new products.

Key players active in the global Anticonvulsant Drugs Market are UCB S.A., Abbott Laboratories, Takeda Pharmaceutical Company Limited, GlaxoSmithKline PLC, Bausch Health Companies Inc., Sunovion Pharmaceuticals Inc., Eisai Co., Ltd, Johnson & Johnson, Sanofi SA, SK BIOPHARMACEUTICALS, Dr. Reddy’s Laboratories Ltd., Sumitomo Pharma Co., Ltd, Alkem Labs, Angelini S.p.a., Novartis AG, Xenon Pharmaceuticals, Inc., and Pfizer, Inc.

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