Over the forecast period, the growth of the global anticonvulsant drugs market is anticipated to be driven by the rising number of product approvals by regulatory authorities. For instance, the pharmaceutical company Lupin announced in March 2022 that the FDA had approved its abbreviated new drug application (ANDA), Vigabatrin for Oral Solution USP (500 mg), which was intended to treat epilepsy. Over the forecast period, the global anticonvulsant drugs market is anticipated to be driven by an increase in the adoption of inorganic strategies like product approvals by regulatory authorities. For instance, the U.S. Food and Drug Administration approved Carbamazepine Tablets in August 2022, according to a pharmaceutical business named Unichem Laboratories. Tegretol is an anticonvulsant medication used to treat the symptoms of epilepsy, trigeminal neuralgia, and bipolar mania. Carbamazepine tablet is a generic version of Tegretol. The global market for anticonvulsant medications is anticipated to be driven by the adoption of inorganic methods such as acquisition by significant market players.
According to Coherent Market Insights, The market for Anticonvulsant medications is projected to be worth US$ 6,757.8 million in 2022 and US$ 8,030.4 million by 2030, growing at a CAGR of 2.2% during the forecast period (2022-2030).
Key Competitors in the Anticonvulsant Drugs Industry:
1. GSK plc.
The company was established in 2000 and is based in Brentford, United Kingdom. The business creates, produces, and sells consumer health goods as well as prescription and over-the-counter medications, vaccinations, and other medications. GSK announced in April 2023 that it would pay $2.0 billion to purchase BELLUS Health Inc. The company announced in April 2022 that it will purchase Sierra Oncology Inc for $1.9 billion, or $55 per share. GSK purchased a 10% investment in the German biotech firm CureVac in July 2020.
2. Novartis AG
The company was founded in March 1996 and has its main offices in Basel, Switzerland, and Cambridge, Massachusetts, in the United States. Novartis provides coverage for all types of medications, including authorization, over-the-counter, immunisations, diagnostics, eyewear, and veterinary care. Through its firms, Novartis engages in a number of direct activities, including managing, advertising, operations, and research.
3. Pfizer Inc.
The business is headquartered in Manhattan in New York City and was founded in 1849. Pfizer's medical research and medicine and vaccine development serve the fields of immunology, cancer, the heart, endocrinology, and neurology. The company successfully acquired Biohaven Pharma's calcitonin gene-related peptide programmes in October 2022. Pfizer bought Amplyx Pharmaceuticals and the antifungal drug fosmanogepix in April 2021. (APX001).
4. Johnson & Johnson Ltd.
The corporate headquarters of Johnson & Johnson, a company that was founded in 1886, are located in New Brunswick, New Jersey. Manufacturers of consumer goods, prescription medications, and medical equipment include Johnson & Johnson. The company announced in November 2021 that it would split into two publicly traded companies, one focusing on consumer items and the other on pharmaceuticals and medical technologies. The company claimed that during the first quarter of April 2021, sales of their Covid-19 vaccine totaled $100 million. Johnson & Johnson paid $16.6 billion to acquire Abiomed Inc. in November 2022.
5. Teva Pharmaceutical Industries Ltd.
The corporation was founded in 1901 and has its headquarters in Tel Aviv, Israel. Although its primary area of expertise is in generic drugs, it also has some additional business interests in active pharmaceutical ingredients and, to a lesser extent, patented drugs. The aggressive climate targets set by Teva will have received external validation on January 19, 2023, thanks to the Science Based Targets programme (SBTi). The federal opioids deal will move forward, Teva stated on January 9th, 2023, after getting broad backing from the states.
6. Sun Pharmaceutical Industries Ltd.,
The firm was founded in 1983 and is located in Mumbai. The business develops and sells active pharmaceutical ingredients and pharmaceutical formulations. Sun Pharma will release Palbociclib, a groundbreaking targeted drug for advanced breast cancer, in January 2023 along with a unique Patient Support Programme. Sun Pharma introduced their brand of vortioxetine in India in March 2022 thanks to a sole patent licencing from Lundbeck.
7. Bausch Health Companies Inc.
The company was founded in 1959 and is located in Laval, Canada. The company also creates contact lenses, intraocular lenses, ophthalmic surgical tools, and cosmetic devices. These products address unmet medical needs in the areas of central nervous system illnesses, eye health, and gastrointestinal ailments.
*Definition: Anticonvulsants are a broad category of pharmaceuticals used to treat epileptic seizures. Since many anticonvulsants appear to act as mood stabilisers, they are also increasingly used to treat neuropathic pain, bipolar disorder, and borderline personality disorder.
