Epilepsy Drugs Market Expected to Reach $9.8 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Epilepsy Drugs Market," The epilepsy drugs market size was valued at $7 billion in 2022, and is estimated to reach $9.8 billion by 2032, growing at a CAGR of 3.5% from 2023 to 2032.

 Rise in prevalence of epilepsy condition is the major factor that drives the market growth. Epilepsy is a common neurological disorder that affects millions of people worldwide. For instance, according to the World Health Organization (WHO), in 2023, nearly 80% of people living with epilepsy were in low- and middle-income countries. Thus, rise in prevalence of epilepsy drives the demand for effective and safe medications for seizure management, thereby boosting the epilepsy drugs market growth. 

Moreover, rise in awareness about epilepsy and its treatment options among the general population and increase in number of healthcare professionals are some epilepsy drugs market trends contribute toward the growth of the market. The surge in awareness about epilepsy results in higher demand for epilepsy drugs, which is contributes toward the growth of the market. For instance, the month of November is celebrated as National Epilepsy Awareness Month (NEAM) in U.S. During this month, various events, campaigns, and activities are organized to spread awareness about epilepsy and educate the people about epilepsy.

In addition, Epilepsy Foundation, a non-profit national foundation, provides support, resources, and advocacy for those affected by epilepsy, increases the awareness to reduce stigma and improves the lives of individuals living with epilepsy and their families. Such awareness of epilepsy is expected to contribute to the growth of the market.     

In addition, the rise in initiatives by non-government and government organizations to increase awareness about epilepsy among the patients through different programs and campaigns is expected to boost the growth of the market.  

Furthermore, significant progress in the development of newer and more effective epilepsy drugs has propelled the market growth. Several second and third generation anti-epileptic drugs (AEDs) have improved efficacy, safety, and tolerability profiles. These advancements in treatment options provide healthcare providers with a wider range of choices to treat individual patients' needs, thereby driving the demand for epilepsy drugs and boosting the growth of the market.  

In addition, rise in geriatric population, as they are more prone to develop epileptic condition, has increased the demand for epilepsy drugs, which further drives the market growth. The older adults are at higher risk of developing epilepsy due to age-related brain changes, stroke, and other underlying health conditions. The aging population worldwide has been steadily growing, and with an increase in life expectancy, the number of older adults living with epilepsy is expected to rise, thereby driving the demand for epilepsy drugs. 

On the basis of seizure type, the market is categorized into focal seizures, generalized seizures, and non-epileptic seizures. The focal seizure segment accounted for the largest epilepsy drugs market share in 2022 and is expected to remain dominant during the forecast period owing to increase in cases of focal seizures, which has increased the demand for epilepsy drugs. However, generalized seizures segment is anticipated to witness highest growth owing to increase in cases of generalized seizures led to increase in the demand for epilepsy drugs.

On the basis of drug generation, the market is categorized into first generation drugs, second generation drugs, and third generation drugs. The second-generation drugs segment accounted for the largest share in 2022 and is expected to remain dominant during the forecast period, owing to high adoption of second-generation drugs as they have been widely prescribed and used for the management of epilepsy leading to a large patient population being treated with these medications. 

However, third generation drugs segment is anticipated to witness highest growth owing to their  improved efficacy in controlling seizures compared to older antiepileptic drugs,  fewer and less severe side effects, and more convenient dosing regimens, such as once-daily dosing, which can simplify the medication regimen and improve patient adherence. 

Region wise, North America is expected to witness highest growth, in terms of revenue, owing to rise in prevalence of epilepsy and rise in health awareness about early diagnosis and treatment. In addition, a rise in regulatory product approvals is expected to drive market growth in the region during the forecast period. For instance, in February 2021, Dr. Reddy’s Laboratories Ltd. announced the launch of Vigabatrin Tablets USP, 500 mg, a therapeutic equivalent generic version of Sabril (vigabatrin) Tablets, USP, approved by the U.S. Food and Drug Administration (U.S. FDA). 

However, Asia-Pacific is anticipated to witness notable growth, owing to surge in prevalence of epilepsy, rise in healthcare expenditure, and surge in awareness regarding early diagnosis and treatment for epilepsy. In addition, the upsurge in healthcare expenditure in the emerging economies is anticipated to offer lucrative opportunities for market expansion. 

Key findings of the study 
• On the basis of seizure type, the focal seizure segment was the largest contributor to the epilepsy drugs industry in 2022. 
• On the basis of drug generation, the second-generation drugs segment was largest contributor to the market in 2022. 
• On the basis of distribution channel, the drug stores and retail pharmacies segment dominated the market in terms of revenue in 2022. However, the online providers segment is anticipated to grow at the highest CAGR during the forecast period. 
• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.