Gabapentin Market size is set to cross USD 6 billion by the end of 2035, growing at a CAGR of 5% during the forecast period 2023 – 2035. In the year 2022, the industry size of gabapentin was 2 billion. The growth of the market can be propelled by the increasing number of people suffering from epilepsy. Since, gabapentin belongs to the family of anticonvulsants it is prescribed to control seizures in individuals with epilepsy. As per a report by World Health Organization, globally 5 million people suffer from epilepsy with an LMC diagnosis rate in epilepsy 139 per 100,000 people.
Another one of the biggest growth drivers boosting the market expansion is the high utilization of gabapentin as a pain management drug, especially during neuropathic pain. This is largely attributable to an increase in chronic pain for illnesses such as diabetic neuropathy, spinal injuries, and shingles, which are difficult to treat with opioids. In 2021, an estimated 20.9% of U.S. adults experienced chronic pain, and 6.9% of adults experienced high-impact chronic pain.
Growth Drivers
Challenges
|
Base Year |
2022 |
|
Forecast Year |
2023 – 2035 |
|
CAGR |
~5% |
|
Base Year Market Size (2022) |
~USD 2 billion |
|
Forecast Year Market Size (2035) |
~USD 6 billion |
|
Regional Scope |
|
Distribution Channel (Retail Pharmacy, Hospital Pharmacy, Online Pharmacy)
The hospital pharmacy segment is anticipated to account for 45% share of the global gabapentin market during the projected period. The hospital pharmacies also have exposure to patients' medical records which leads to high accuracy in medication provision. Besides, the growing demand for advanced healthcare infrastructure, especially in developing countries along with high investment in new technologies and the healthcare sector is expected to influence the segment growth in the upcoming times. Given the risk of misuse, most medicines are provided by hospitals or the healthcare industry. According to a US national survey, 6.6% of persons reported misusing gabapentin at some point in their lives, with therapeutic and non-therapeutic uses split fairly evenly.
Dosage Form (Tablet, Capsule, Oral Solution)
The capsule segment in the gabapentin market is predicted to witness the largest revenue of 50 % by the end of 2035. The gabapentin medication is available in the market in various forms but the most popular and demanding form is the capsule form, owing to its easy availability, ease of administration, and correct dosing. One of the significant advantages of capsules is that they are easy to swallow which means old people or kids can take them easily and most doctors prescribe capsules over other forms owing to their huge properties.
Our in-depth analysis of the global gabapentin market includes the following segments:
|
Dosage Form |
|
|
Type |
|
|
Application |
|
|
Distribution Channel |
|
North American Market Statistics
The gabapentin market in the North America region is expected to dominate the global industry, registering the largest market gain of 35% in the estimated period. The growth can be ascribed to the growing prevalence of chronic pain conditions in the region. As the medication is used to treat anxiety, bipolar disorder, nausea, and other off-label indications. It is high in demand in the United States and Canada from this region. As per the data, gabapentin is highly prescribed and is one of the top 30 medications in the United States.
APAC Market Analysis
The Asia Pacific gabapentin market is poised to account for a significant market value during the forecast timeframe. The growing awareness about the benefits of gabapentin over opioids and increasing healthcare spending in the region is the primary factor boosting the market expansion in the region. Moreover, various other factors such as the growing geriatric population, rise in government initiatives, research and development by pharmaceutical industries, and increasing product approvals are expected to elevate the growth of the gabapentin market in the region.
· Pfizer Inc. announced the availability of its rheumatoid arthritis biosimilar, RUXIENCE, in July 2021.
· Pfizer Inc. disclosed in September 2021 that it would acquire Amplyx Pharmaceuticals, a privately held business that specializes in creating medications for life-threatening infections.
Author Credits: Abhishek Verma, Hetal Singh
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?