Wilmington, New Castle, Delaware, March 13, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Pregabalin Market by Type (Tablets & Capsules and Others), Application (Epilepsy, Neuropathic Pain, and Others), and Distribution Channel, (Hospital Pharmacy, Drug Stores & Retail Pharmacies, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global pregabalin industry generated $1.6 billion in 2022 and is anticipated to generate $2.2 billion by 2032, witnessing a CAGR of 3% from 2023 to 2032.
Prime determinants of growth
The factors driving the growth of the global pregabalin market include the increase in the number of people affected with neuropathic pain, epilepsy, and anxiety; the government's rising awareness programs and initiatives for the diagnosis and treatment of epilepsy; and the rise in the number of approved generic products. However, alternative therapies for disease application restrict market growth. Moreover, high growth potential in emerging markets and a rise in the number of pipeline products for extended applications align with generic product approvals presents new opportunities in the coming years.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size In 2022 | $1.6 Billion |
| Market Size In 2032 | $2.2 Billion |
| CAGR | 3% |
| No. Of Pages In Report | 239 |
| Segments Covered | Type, Application, Distribution Channel, And Region |
| Drivers | Rise In Number Of People Suffering From Epilepsy & Neuropathic Pain |
| Growing Awareness And Initiatives Taken By Government For Epilepsy | |
| Rise In Number Of Generic Product Approvals | |
| Opportunities | High Growth Potential In Emerging Markets |
| Restraint | Availability Of Alternative Therapies |
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Recession Impact
- During a recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This affects patients’ ability to access and afford pregabalins, potentially leading to moderate decreased demand for pregabalins.
- However, prevalence of disease conditions contributes to sustained demand for therapeutic drugs, in the face of a recession. This could boost the need for pregabalin from the global recession.
The tablets & capsules segment to maintain its lead position during the forecast period
On the basis of type, the tablets & capsules segment accounted for the largest share in 2022, contributing to more than four-fifths of the global market revenue, and is projected to maintain its lead position during the forecast period owing to a wide availability of tablets of varying strength & generic product approval & launches by various key players.
The neuropathic pain segment to maintain its lead position during the forecast period
On the basis of application, the neuropathic pain segment accounted for the largest share in 2022, contributing tomore than two-thirds of the global pregabalin market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to an increase in the incidence of neuropathic pain and efficient management of the same.
The online provider segment to maintain its lead position during the forecast period
On the basis of distribution channel, the drug store & retail pharmacies segment accounted for the largest share in 2022, contributing to more than three-fifths of the global pregabalin market revenue, and is projected to maintain its lead position during the forecast period. The online providers segment is expected to register the highest CAGR during the forecast period owing to ease in convenience & availability through ecommerce and higher discounts.
North America to maintain its dominance by 2032
On the basis of region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global pregabalin market revenue and is likely to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, easy availability of pregabalin, and governmental initiatives. However, Asia-Pacific is expected to witness the highest CAGR from 2023 to 2032. This is attributed to rise in awareness of epilepsy, surge in incidences of neuropathic pain, and increase in healthcare expenditures.
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Leading Market Players:
- Viatris Inc.
- Cipla
- Amneal Pharmaceuticals
- Rising Pharmaceutical
- Teva Pharmaceutical
- Lupin
- ScieGen Pharmaceuticals Inc.
- Zydus
- Medley Pharmaceuticals Ltd.
- Novartis AG
The report provides a detailed analysis of these key players in the global pregabalin market. These players have adopted strategies such as product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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