Middle East & Africa Epilepsy Drugs Market Revenue to cross US$ 741.26 million by 2030

At 2.8% CAGR, the Middle East & Africa Epilepsy Drugs Market is Speculated to be Worth US$ 741.26 million by 2030, Says Business Market Insights

According to Business Market Insights research, the Middle East & Africa epilepsy drugs market was valued at US$ 593.94 million in 2022 and is expected to reach US$ 741.26 million by 2030, registering a CAGR of 2.8% from 2022 to 2030. Growing prevalence of epilepsy and increasing number of elderly people are among the critical factors attributed to the Middle East & Africa epilepsy drugs market expansion.

Epilepsy is a neurological disorder characterized by recurrent seizures. According to the data published by the World Health Organization in February 2023, epilepsy accounts for a significant share of the global disease burden, affecting nearly 50 million people across the world. The projected proportion of the general population with active epilepsy (i.e., with the need for treatment or continuing seizures) at a given time is between 4 and 10 per 1,000 individuals. According to the same source (World Health Organization in February 2023), 5 million people are diagnosed with epilepsy every year worldwide. High-income countries are estimated to report epilepsy at a rate of 49 per 100,000 people annually. In low- and middle-income countries, this number can be as high as 139 per 100,000 individuals. This is likely due to the high risk of endemic conditions such as neurocysticercosis or malaria, birth-related injuries, and a high incidence of road traffic injuries. About 80% of individuals with epilepsy live in low- and middle-income countries. The data also reports that seizures can be controlled, and about 70% of individuals living with epilepsy could become seizure-free with appropriate use of antiseizure medicines. Antiepileptic drug therapy is the primary treatment for most patients with epilepsy. Seizure classification is a crucial element in designing the treatment plan, as some antiepileptic drugs have different effects against various seizure types. Thus, the rising prevalence and incidence of epilepsy worldwide are contributing to elevate the demand for epilepsy drugs.

On the contrary, recall of therapeutic products hampers the growth Middle East & Africa epilepsy drugs market.

Based on treatment, the Middle East & Africa epilepsy drugs market is classified into first generation anti-epileptics, second generation anti-epileptics, and third generation anti-epileptics. The third-generation anti-epileptics segment held 42.6% share of the Middle East & Africa epilepsy drugs market in 2022, amassing US$ 252.96 million. It is projected to garner US$ 326.81 million by 2030 to expand at 3.3% CAGR during 2022-2030.

Based distribution channel, the Middle East & Africa epilepsy drugs market is categorized into hospital pharmacy, retail pharmacy stores, and others. The hospital pharmacy segment held 51.2% share of the Middle East & Africa epilepsy drugs market in 2022, amassing US$ 303.87 million. It is projected to garner US$ 366.89 million by 2030 to expand at 2.4% CAGR during 2022-2030.

Based on country, the Middle East & Africa epilepsy drugs market is categorized into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa held 27.8% share of Middle East & Africa epilepsy drugs market in 2022, amassing US$ 164.90 million. It is projected to garner US$ 192.98 million by 2030 to expand at 2.0% CAGR during 2022-2030.

Key players operating in the Middle East & Africa epilepsy drugs market are Abbott Laboratories, Alkem Laboratories Ltd, GSK Plc, Novartis AG, Pfizer Inc, Sanofi SA, and Teva Pharmaceutical Industries Ltd, among others.