At 3.1% CAGR, the South & Central America Epilepsy Drugs Market is Projected to be Worth US$ 585.38 million by 2030, Says Business Market Insights

According to Business Market Insights research, the South & Central America epilepsy drugs market was valued at US$ 458.85 million in 2022 and is expected to reach US$ 585.38 million by 2030, registering a CAGR of 3.1% from 2022 to 2030. Increasing product approvals and rising prevalence of epilepsy are among the critical factors attributed to the South & Central 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. Thus, the increasing number of regulatory approvals is becoming a trend in the South & Central America epilepsy drugs market.

On the contrary, recall of therapeutic products hampers the growth South & Central America epilepsy drugs market.

Based on treatment, the South & Central 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 South & Central America epilepsy drugs market in 2022, amassing US$ 195.64 million. It is projected to garner US$ 258.37 million by 2030 to expand at 3.5% CAGR during 2022-2030.

Based distribution channel, the South & Central America epilepsy drugs market is categorized into hospital pharmacy, retail pharmacy stores, and others. The hospital pharmacy segment held 50.9% share of the South & Central America epilepsy drugs market in 2022, amassing US$ 233.41 million. It is projected to garner US$ 288.04 million by 2030 to expand at 2.7% CAGR during 2022-2030.

Based on country, the South & Central America epilepsy drugs market is categorized into Brazil, Argentina, and the Rest of South & Central America. The Brazil held 47.8% share of South & Central America epilepsy drugs market in 2022, amassing US$ 219.20 million. It is projected to garner US$ 290.44 million by 2030 to expand at 3.6% CAGR during 2022-2030.

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

• In October 2023; Novartis completed the Sandoz's spin-off through a dividend-in-kind distribution to holders of Novartis shares and American Depositary Receipts. Each holder received one Sandoz share for every five Novartis shares held at the close of business on October 3, 2023. The separation of Sandoz has led Novartis to complete its transformation, allowing it to focus as a medicines company.
  
  
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