April 04, 2018
WELLESLEY, Mass., April 04, 2018–An aging global population, growth from developing nations and an increasing frequency of head injuries due to road accidents are helping boost growth in the global market for anti-epileptic drugs, according to a report by BCC Research.
The global market for the industry was valued at $8.4 billion in 2017, and is forecasted to grow at a compound annual growth rate (CAGR) of 2.7% through 2022, when it will be worth an estimated $9.5 billion, according to the report Anti-Epileptic Drugs Market: Global Markets to 2022.
Major players in the market include Pfizer Inc., UCB Biosciences Inc., GlaxoSmithKline PLC, Sanofi, Eisai Inc., Otsuka Pharmaceutical LTD., H. Lundbeck, Sumitomo Dainippon Pharma Co. and Shire PLC.
“The rapid growth of elderly populations in many developed countries and economies around the world is driving the demand for anti-epileptic drugs,” said Robert G. Hunter, BCC Research senior editor, healthcare. “The aging demographic is growing at a rapid pace in Japan, and European countries such as Italy, Greece and Germany. For instance, in Japan, the number of elderly people aged 65 or above accounts for about 26.7% of the total population.”
Patent Expiration Seen as a Major Restraint on the Market
The biggest restraint on the market is likely the looming expiration of drug patents. Pharmaceutical companies invest huge sums of money in the drug development process, but when patents expire, generic versions of the drug flood the market and drive prices down. The prices of these generics are low in comparison to the original brand of the drug. For instance, the patent for Sabril, an anti-epileptic drug developed by Lundbeck LLC, expired in 2017, after which a generic version of the drug is being manufactured by Par Pharmaceuticals – negatively impacting growth of the overall market in value.
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Anti-Epileptic Drugs: Global Markets to 2022( PHM197A )
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