Pregabalin Market Size

Pregabalin Market Analysis

The pregabalin market is projected toregister a CAGR of nearly 3% over the forecast period.

The COVID-19 pandemic has significantly impacted the studied market. Several studies reported that there is a high risk of an increase in the incidence and prevalence of neuropathic pain after the COVID-19 pandemic which might have a positive impact on the market during the pandemic. For instance, according to a research study published in January 2021 in Pain Reports, there is a chance that certain COVID-19-infected patients experience neuropathic pain within a few weeks or months or that neuropathic pain sufferers could experience worsening neurological complications or worsening of their pain. This might have led to increased adoption of pregabalin in COVID-19 patients, driving market growth during the pandemic. In addition, anxiety and sadness were seen in the first year of the COVID-19 pandemic due to factors such as lockdown, social isolation, loneliness, fear of infection, suffering, and death. As pregabalin is used as a treatment for epilepsy, anxiety disorders, and other related disorders, its use is expected to increase with the increase in the burden of disorders around the world. Thus, the pregabalin market is expected to grow over the forecast period. Furthermore, the market has seen lucrative growth post-pandemic and is anticipated to grow significantly during the forecast period due to the rising prevalence of neuropathic pain and epilepsies.

The high and growing prevalence of epilepsy and related disorders, such as neuropathic pain and anxiety disorders, are expected to be primary growth factors for the pregabalin market as the pregabalin market is used in the management and treatment of these disorders. For instance, according to the February 2022 update of the World Health Organization, epilepsy affects about 50 million people worldwide, with 80% of this population residing in low- and middle-income countries. Further, as per the same source, about 5 million cases of epilepsy are diagnosed yearly. As per estimates, up to 70% of people living with epilepsy could avoid seizures with the right diagnosis and care. Thus, with the increasing awareness about the disease, the demand for effective treatment is expected to increase, fueling market growth.

The rising geriatric population with neuropathic pain is expected to fuel growth in the pregabalin market further as pregabalin is used in neuropathic pain treatment. As the geriatric population increases around the world, the burden of neuropathic pain is further expected to increase over the forecast period. For instance, according to the United Nations Department of Economic and Social Affairs 2022, in 2022, there were 771 million people aged 65 years or over globally and the elderly population is projected to reach 994 million by 2030 and 1.6 billion by 2050. As the elderly population is highly prone to complications such as painful diabetic neuropathy and post-herpetic neuralgia, the rising elderly population is anticipated to propel the market growth.

In addition, the launch of new products in the market is further expected to boost market growth over the forecast period. For instance, in May 2022, Lupin Pharmaceuticals received approval from the United States Food and Drug Administration (FDA) for its Abbreviated New Drug Application (ANDA), pregabalin capsules, 25 mg, 50 mg, 75 mg, 100 mg, 150 mg, 200 mg, 225 mg, and 300 mg. Therefore, the launch of generic pregabalin is anticipated to drive market growth due to cost-effectiveness and increased availability.

Hence, due to the above-mentioned factors, the pregabalin market is expected to grow over the forecast period. However, the availability of alternative treatments, adverse effects associated with pregabalin, and stringent regulatory policies are expected to restrain the pregabalin market during the forecast period.