ANTICONVULSANT DRUGS MARKET ANALYSIS

Market Challenges And Opportunities

Global Anticonvulsant Drugs Market – Drivers

The increasing number of product approvals by regulatory authorities is expected to drive the global anticonvulsant drugs market growth over the forecast period. For instance, in March 2022, Lupin, a pharmaceutical company, announced that they had received approval from the U.S. Food and Drug Administration (FDA) for its abbreviated new drug application (ANDA), Vigabatrin for Oral Solution USP (500 mg), indicated for epilepsy.

Global Anticonvulsant Drugs Market – Impact of Coronavirus (COVID-19) Pandemic

The coronavirus (COVID-19) pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors. The private healthcare sector is one of the sectors, which has been majorly impacted by the COVID-19 pandemic. The lockdown in various countries due to the COVID-19 pandemic has created an economic burden on the private healthcare sector. According to the Indian Journal of Medical Sciences published a report in 2020, the COVID-19 pandemic has affected the conduction of clinical trials due to the unavailability of trial site staff, restrictions for traveling, investigational product availability, and others.

According to National Center for Biotechnology Information (NCBI) published a report on April 29, 2020, many clinical trials suspended trial enrollment to minimize the risk of contracting COVID-19, and this has led to the delay in the activation of new clinical trials. Moreover, many companies have already missed the follow-up for the patients already in trials. Product development has experienced disruption to adjust to remote-work environments and lab capacity is reduced. Clinical trials are also being severely affected by disruptions in both new enrollments and in keeping existing patients on therapies. According to clinicaltrial.gov, as of April 2020, there were more than 2,850 trials and around 900,000 patients enrolled at trial sites in regions that were in partial or complete lockdown due to COVID-19 restrictions. While the R&D labs are currently operating at below 50% of the normal capacity across the globe. Many research centers have decided to freeze new trials and have stopped inpatient studies. Different pharmaceutical companies have also decided to delay the start of new clinical trials, suspended enrollment in some trials, and have postponed the initiation of new sites in the case of trials continuing enrollment.

Thus, the impact of the coronavirus (COVID-19) pandemic is expected to limit growth of the global anticonvulsant drugs market during the forecast period.

Global Anticonvulsant Drugs Market: Restraint

Increasing number of product recall by regulatory authorities such U.S. Food and Drug Administration is expected to hamper the growth of anticonvulsant drugs market. For instance, in January 2022, U.S. Food and Drug Administration recalled 15,336 bottles of 200-mg carbamazepine tablets, which was manufactured by Torrent Pharmaceuticals Ltd., a pharmaceutical company. The product was recalled because samples failed to meet dissolution specifications during testing.