Market Size of Epilepsy Drugs Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 3.50 % |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Epilepsy Drugs Market Analysis
The epilepsy drugs market is projected to register a CAGR of 3.5% during the forecast period.
The COVID-19 outbreak significantly impacted the market's growth as several neurology activities, such as medical training and research, were disrupted due to the pandemic. For instance, an article published in the Journal of the International League Against Epilepsy in October 2021 stated that 22.8% of people with epilepsy (PWE) and 27.5% of caregivers reported an increase in seizure frequency, with difficulty in accessing medication and health care professionals reported as barriers to care. Of all respondents, 57.1% of PWE and 21.5% of caregivers had severe psychological distress, significantly higher among PWE than caregivers. Thus, COVID-19 significantly impacted the market's growth in the initial phase. However, owing to the product approvals, the market is anticipated to gain traction over the coming years. For instance, in August 2021, the UK Medicines and Healthcare Products Regulatory Agency (MHRA) approved a new indication for GW Pharmaceuticals's cannabidiol as an adjunctive treatment of seizures associated with tuberous sclerosis complex (TSC) for patients two years of age and older. Thus, the market is expected to grow over the forecast period.
Significant factors contributing to the growth of the epilepsy drugs market include the rise in new drug approvals over the past few years and increasing cases of epilepsy across the globe. As per the World Health Organization's February 2023 update, around 50 million people worldwide suffer from epilepsy, making it one of the most common neurological diseases globally. Nearly 80% of people with epilepsy live in low and middle-income countries. Up to 70% of people with epilepsy could live seizure-free if properly diagnosed and treated. Such a high burden of epilepsy creates the need for treatment and thus drives the market's growth.
Additionally, the increasing launch of drugs for the treatment of epilepsy by market players at affordable prices is also contributing to the growth of the market. For instance, in March 2021, India-based Alkem Laboratories launched Brivasure, an affordable anti-epileptic drug for treating epilepsy in India. Also, in February 2021, Sun Pharmaceutical Industries reported its plans to introduce a complete range of anti-epilepsy drugs, including Brivaracetam, in India at an affordable price.
Furthermore, rising awareness levels about epilepsy and strategic alliances are also anticipated to stimulate market growth. For instance, in November 2021, in the United States, November is celebrated as National Epilepsy Awareness Month (NEAM). Every year, the Epilepsy Foundation, in collaboration with the Epilepsy Foundation, launches the #RemoveTheFilter social media campaign to reduce fear surrounding epilepsy and bring hope to those facing challenges. Such awareness campaigns are also expected to contribute to the market's growth.
Thus, owing to the abovementioned factors, the market's growth is expected to accelerate over the coming years. However, side effects associated with drugs and the recent expiration of patents on major drugs may impede the market's growth.
