Global Anticonvulsants Market to Grow due to Increasing Prevalence of Psychological Disorders
Anticonvulsants help in the treatment of neuropathic pain, epileptic seizures, and act as a mood stabilizers in the treatment of psychiatric disorders, such as bipolar disorder. According to the World Health Organization, bipolar disorder affects about 45 million people worldwide. Effective treatments are available for the prevention of relapse and the treatment of the acute phase of bipolar disorder. These treatments include medicines that stabilize mood, as well as psychosocial support, as it is an important component of the treatment.
The Anticonvulsants market is driven by the increasing availability of these drugs in the market, growing awareness about anticonvulsants, and patent expiration of many best-seller drugs. However, the issue of suicide risk associated with the entire class of AEDs, high costs associated with branded anticonvulsants, and the unavailability of generic drugs will likely to restrain the growth of the anticonvulsants market.
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Major companies functioning in the global Anticonvulsants market are
Pfizer Inc.
Novartis International AG
Abbott Laboratories
UCB
Johnson & Johnson
GlaxoSmithKline Pharmaceuticals Ltd
Cephalon Inc
Shire plc.
Key Factors Driving the Global Anticonvulsants Market:
*North America holds the largest market share owing to the presence of a well-developed healthcare infrastructure and growing spending on research and development, which are contributing to the growth of the market.
*The Asia Pacific region will witness the fastest growth in the anticonvulsants market due to extensive spending in healthcare and improving healthcare infrastructure, along with increasing government spending and growing demand for drugs in this region.
*There is an increase in awareness about the anticonvulsants available in the market. Patent expiration of many best-seller drugs is one of the major factors in driving the global anticonvulsants for use in epilepsy in the U.S.
Companies Seeking Product Approval to Launch their New Products in the Market
As per the recent trends, companies having various strategic collaborations have a synergistic effect on the market. Such developments lead to partnerships and also boost market competition.
*August 20, 2020 — Novartis announced that the FDA approved Kesimpta® (ofatumumab, formerly OMB157) to treat relapsing-remitting disease, clinically isolated syndrome, and active secondary progressive disease in adults. It will be used as an injection for subcutaneous use for the treatment of relapsing forms of multiple sclerosis (RMS).
*In February 2019, SK Biopharmaceuticals and Arvelle Therapeutics signed an agreement to develop and commercialize SK Biopharmaceuticals’ cenobamate in Europe. Cenobamate will be used for the treatment of partial-onset of seizures in adults.
*In December 2018, the National Medical Products Administration China (NMPA) approved the Lamictal dispersible tablet, which was produced by GlaxoSmithKline plc. It was launched for the treatment of various seizure types and Lennox-Gastaut syndrome (LGS) in adults and children with epilepsy.
This Global Anticonvulsants Market Report Provides:
*An overview of a thorough analysis of the global Anticonvulsants market and related technologies.
*Study of the latest trends with precise annual growth rate estimates for compounds (CAGRs) and yearly valuations.
*Identification of new market opportunities and targeted consumer marketing strategies for the global Anticonvulsants market.
*Demand for new applications with new technologies and breakdown
Company profiles of significant players in the industry.
The report offered by our experts presents an exhaustive market study with established segments such as application, product type, and region. Every segment of the market and its sub-segments are comprehensive and are based on their growth scenarios, market share, and CAGR. In each market segment, qualitative and quantitative information is offered with in-depth information for offering a complete market outlook.
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