In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Antiepileptic Drugs (AEDs) are also called as anti-seizure drugs because they provide symptomatic treatment only and have not been demonstrated to alter the course of epilepsy. AEDs have been found to decrease the frequency or the severity of seizures in people with epilepsy. The ideal AED is expected to maximize quality of life by minimizing seizures and adverse drug effects. According to WHO, there are approximately 50 Million people worldwide suffering from epilepsy, accounting for 0.6% of the global burden of disease. Seizures are defined as the clinical manifestation of an abnormal, disorderly discharge of the brain's nerve cells, resulting in a temporary disturbance of motor, sensory, or mental function and a tendency to have recurrent seizures is called epilepsy.
Global antiepileptic drugs (AEDs) market is expected to flourish at a CAGR of 3.5% over the forecast period i.e. 2017-2027. Further, the market of AEDs is expected to reach USD 5.3 Billion by the end of 2027.
Geographically Asia Pacific market is expected to grow at the highest CAGR due to rising awareness regarding preventive treatment for epilepsy in emerging economies such as China and India. Further among all Asia’s countries China has largest market share in the regional platform and is expected to continue its dominance over the forecast period. Increasing disease prevalence in these regions is expected to result in an increased demand for AEDs.
Also, Europe market is expected to increase on a moderate pace due to austerity measures to cut down on public expenditures to tackle financial crisis. Such is the case of Spain where government measures to reduce the healthcare expenditures have resulted in long waiting lists and have forced patients to ration their medication to save costs. However countries such as Germany and Italy are expected to show a very positive growth over the forecast period.
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Further, North America AEDs market is expected to grow at a substantial rate over the forecast period. Further, factors such as increased healthcare expenditure to mitigate the rising disease prevalence are expected to be the dynamic factor for the growth of AEDs market in this region.
Our in-depth analysis has segmented global expandable polystyrene market into the following segments:
By Drug Type
By Range of Activity
By Mechanism of Action
Global anti-epileptic drugs market is further classified on the basis of region as follows:
It has been observed that over the years there has been an increasing incidence of generalized and partial epileptic seizures globally. This is contributing to the global disease burden due to which there have been an increasing number of pharmaceutical companies investing their resources towards developing more effective anti-epileptic drugs to improve the quality of live, minimize the incidence and to reduce the adverse effects. Also, the increasing healthcare expenditures by government bodies, growing awareness among people towards advanced treatments along with the increasing popularity of personalized medicine is expected to positively move the market for anti-epileptic drugs globally.
However, the increasing cost associated constraints along with limited accessibility in low and middle income countries resulting in a treatment gap is expected to hamper the market growth.