New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anticonvulsants Global Market Report 2023" - https://www.reportlinker.com/p06486549/?utm_source=GNW
, Sunovion Pharmaceuticals Inc., Sanofi SA, Zydus Lifesciences Ltd., Lupin Limited, Ratiopharm, Kannalife Inc., and Neuropathix Inc.
The global anticonvulsants market is expected to grow from $17.65 billion in 2022 to $18.39 billion in 2023 at a compound annual growth rate (CAGR) of 4.22%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The anticonvulsants market is expected to reach $20.87 billion in 2027 at a CAGR of 3.2%.
The anticonvulsant market consists of sales of drugs such as phenobarbital, phenytoin, carbamazepine, levetiracetam, ethosuximide, clonazepam, diazepam, lorazepam, and midazolam.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anticonvulsants, also called anti-seizure medication and antiepileptics, refer to a type of drug or medication used to prevent and treat seizures or convulsions by controlling abnormal electrical activity in the brain. This medication is used to treat conditions such as nerve pain and restless leg syndrome.
North America was the largest region in the Anticonvulsants market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in anticonvulsants report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of anticonvulsants include pyrimidinediones, fructose derivatives, aromatic allylic alcohols, valproylamides, carboxamides, bromides and others.Pyrimidine refers to a heterocyclic aromatic organic compound that serves as a component of nucleic acids (such as DNA and RNA), certain proteins, starches, and others.
These drugs are generated by the first-generation, second generation and third-generations and consumed in dosage forms of capsules, tablets, liquids, rectal gel and others for applications in migraine, epilepsy, neuropathic pain, anxiety, fibromyalgia, bipolar disorder, borderline personality disorder. These are used in various end-user industries such as hospitals, clinics and others.
The rise in the prevalence of epilepsy is expected to propel the growth of the anticonvulsants market going forward.Epilepsy is a common disorder that affects the brain and frequently results in seizures.
It is a chronic nontransmissible disease of the brain that affects people of all ages.Anticonvulsants are medications used to suppress seizures in people with epilepsy.
Anticonvulsants help control symptoms of epilepsy by blocking the abnormal electrical activity in the brain that causes seizures and is not necessarily a cure for the disease.For instance, in February 2023, according to the World Health Organization, a Switzerland-based United Nations agency responsible for public health, globally, an estimated 5 million people are diagnosed with epilepsy yearly.
The high-income countries have an estimated 49 per 0.1 million people are diagnosed with epilepsy each year, and as many as 139 per 0.1 million in low- and middle-income countries. Therefore, the rise in the prevalence of epilepsy is driving the growth of the anticonvulsants market going forward.
Product development is a key trend gaining popularity in the anticonvulsants market.Major companies operating in the anticonvulsants market are focused on developing innovative products to strengthen their position and gain a competitive advantage.
For instance, in December 2022, Lupin Limited, an India-based pharmaceutical company, launched an abbreviated new drug application, Rufinamide tablets USP, 200 mg and 400 mg, an anticonvulsant drug. Rufinamide is used with other medications to control seizures in people who have a severe form of epilepsy called Lennox-Gastaut syndrome, which begins during childhood and causes several types of seizures, behavioral disturbances, and developmental delays in an individual.
In May 2021, Jazz Pharmaceuticals Inc., an Ireland-based biopharmaceutical company, acquired GW Pharmaceuticals plc for $7.6 billion. This acquisition broadens, diversifies, and enriches Jazz’s portfolio business strategy by diversifying its commercial portfolio and innovative pipeline with complementary therapies. Further, this acquisition will strengthen Jazz’s neuroscience business by adding a cannabis-based epilepsy treatment, Epidiolex. GW Pharmaceuticals plc is a UK-based pharmaceutics company involved in manufacturing anticonvulsants.
The countries covered in the anticonvulsants market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The anticonvulsants market research report is one of a series of new reports that provides anticonvulsants market statistics, including anticonvulsants industry global market size, regional shares, competitors with a anticonvulsants market share, detailed anticonvulsants market segments, market trends and opportunities, and any further data you may need to thrive in the anticonvulsants industry. This anticonvulsants market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06486549/?utm_source=GNW
About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
__________________________
