Anti Epilepsy Drugs Market Research - Global Industry Analysis by Size, Share and Forecast 2021 – 2027
Anti Epilepsy Drugs Market 2021
The Anti Epilepsy Drugs Market 2020 has the potential to touch USD 4.8 billion by 2022, says Market Research Future (MRFR). It can also record a CAGR of 3.79% between 2015 and 2022, which is the forecast period. We will provide COVID-19 impact analysis with the report, along with all the key developments since the coronavirus disease outbreak.
Key Boosters and Challenges
The increasing cases of epilepsy worldwide have put a massive economic strain on the healthcare industry. Abrupt behavioral changes, extreme emotional distress, and consciousness loss are some of the characteristics of a patient with epilepsy, which are quite difficult to handle. Therefore, drugs play an important role in providing relief to patients having these symptoms. Many of the top companies are focused on introducing drugs that have low to no side-effects, while also boosting their effectiveness in controlling the symptoms. In the last few decades, the availability of several anti-epilepsy drugs has doubled, while nine drugs have been launched in recent years for the treatment of pediatric epilepsy.
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Major Key Players:
Pfizer, Inc., Johnson & Johnson, UCB Pharma Ltd., Abbott, GlaxoSmithKline plc, Novartis AG, Sanofi, Shire Pharmaceuticals Limited and Cephalon Inc., are some of the prominent players at the forefront of competition in the Global Anti Epilepsy Drugs Market Research and are profiled in MRFR Analysis.
Competitive Analysis
Characterized by the presence of several well-established and small players, the global Anti Epilepsy Drugs Market Research appears to be highly competitive and fragmented. International players who are increasingly expanding their footprint in the developing economy, making it difficult for regional vendors to compete with them, especially in terms of features such as product differentiation, product portfolios, quality, and pricing. The market is witnessing intensified competition which is expected to get more intensified further during the forecast period. The intense competition prevalent in the market dictates the consolidation among marketers.
Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position.
Pfizer Inc. is one of the major players of the global Anti Epilepsy Drugs Market Research and is headquartered in the U.S. In 2015, the company’s total revenue was about USD 48,851 million and it reached USD 52,824 million in 2016. Such a significant increase in the global sales, enabled the company to invest a huge percentage of their sales into the research and development. In 2016, the company spent 14.9% of its total revenue into the R&D enabling it to improve its product portfolio and launch new product, strengthening its position in the market.
In October 2016, Abbott has collaborated with Celgene and Agios for diagnostic identification of IDH mutations. Celgene has done an agreement with Abbott to develop and commercialize the diagnostic tests.
In November 2016, Novartis acquired Selexys Pharmaceuticals Corporation, a company specializing in development of therapeutics in certain hematologic and inflammatory disorders.
In August 2017, Sanofi completed the acquisition of Protein Sciences, a vaccines biotechnology company based in Meriden, Connecticut in the United States. This acquisition was followed by the Federal Trade Commission approval, having met all the conditions required for the closing of the transaction.
Regional Analysis:
On the regional backgrounds the Americas leads the global market for anti-epilepsy drugs owing to a well-developed healthcare sector, increasing prevalence of epilepsy and presence of the developed technologies within the region. According to the Centres for Disease Control and Prevention, in 2015, 1.2% of the total U.S. population had active epilepsy. Moreover, it was estimated that the yearly total direct and indirect cost of epilepsy in the U.S. was about USD 15.5 billion. Europe is second in the market due to rising healthcare expenditures, huge patient population and growing healthcare R&D expenses by the government. The Asia Pacific region is the fastest growing region due to the developing economies like India and China which are increasing their healthcare expenditures and have huge patient population. Moreover, favourable government policies within the region fuels the market growth. Middle East and Africa have the least market share, especially due to the presence of poor economies and stringent government policies within the African region.
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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