North America Epilepsy Drugs Market Revenue to cross US$ 3,609.34 million by 2030

At 4.3% CAGR, the North America Epilepsy Drugs Market is Speculated to be Worth US$ 3,609.34 million by 2030, Says Business Market Insights

According to Business Market Insights research, the North America epilepsy drugs market was valued at US$ 2,575.83 million in 2022 and is expected to reach US$ 3,609.34 million by 2030, registering a CAGR of 4.3% from 2022 to 2030. Increasing product approvals and growing prevalence of epilepsy are among the critical factors attributed to the North America epilepsy drugs market expansion.

In recent years, there has been a notable increase in the approval of drugs to treat epilepsy, marking a significant step forward in addressing the challenges posed by severe seizures. Growing awareness of the need for effective therapeutic options and the dedicated efforts of researchers and pharmaceutical companies to develop innovative treatments are leading to the development and approval of these drugs.

Drug approvals and the diversity of new molecular entities (NMEs) upon which new drugs are based have been consistently growing over time. A notable growth in the number of drug approvals annually was also observed in the recent past. Thus, the acceptance of new drugs is rising and resulting in increasing approvals for the products. A few recent approvals are mentioned below - In December 2022, Zydus Lifesciences received approval from the US health regulator to market Topiramate extended-release capsules, used to control and prevent seizures in people with epilepsy, in the American market. The US FDA approved multiple strengths of the product to market. Topiramate is indicated to prevent and control seizures in individuals with epilepsy. In March 2022, Marinus Pharmaceuticals, Inc. announced that the US FDA approved ZTALMY (ganaxolone) oral suspension to treat seizures associated with cyclin-dependent kinase-like five deficiency disorder (CDD), a rare type of genetic epilepsy, in patients aged 2 years and above. Thus, the increasing number of regulatory approvals is becoming a trend in the North America epilepsy drug market.

On the contrary, recall of therapeutic products hampers the growth North America epilepsy drugs market.

Based on treatment, the North America 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 North America epilepsy drugs market in 2022, amassing US$ 1,097.23 million. It is projected to garner US$ 1,591.51 million by 2030 to expand at 4.8% CAGR during 2022-2030.

Based distribution channel, the North America epilepsy drugs market is categorized into hospital pharmacy, retail pharmacy stores, and others. The hospital pharmacy segment held 51.0% share of the North America epilepsy drugs market in 2022, amassing US$ 1,312.44 million. It is projected to garner US$ 1,778.97 million by 2030 to expand at 3.9% CAGR during 2022-2030.

Based on country, the North America epilepsy drugs market is categorized into the US, Canada, and Mexico. The US held 75.4% share of North America epilepsy drugs market in 2022, amassing US$ 1,942.38 million. It is projected to garner US$ 2,749.86 million by 2030 to expand at 4.4% CAGR during 2022-2030.

Key players operating in the North America epilepsy drugs market are Abbott Laboratories, Alkem Laboratories Ltd, Catalyst Pharmaceuticals Inc, GSK Plc, Novartis AG, Pfizer Inc, Sanofi SA, Sumitomo Pharma America Inc., Teva Pharmaceutical Industries Ltd, and UCB SA, among others.