Market Challenges And Opportunities
Restraints & Challenges:
- Availability of alternative anti-epileptic drugs
- Adverse effects and safety concerns
Global Phenobarbital Market Drivers:
- Increasing prevalence of epilepsy: The prevalence of epilepsy is on the rise globally which is directly boosting the demand for anti-epileptic drugs such as phenobarbital. For instance, on February 9 2023, according to recent statistics by the World Health Organization, around 50 Mn people worldwide suffer from epilepsy with nearly 80% of them living in developing countries. The economic burden of this neurological disorder on healthcare systems and families is massive. Moreover, since the risk of epilepsy rises with age, more individuals are receiving treatment for the condition due to an ageing population and improved detection rates, particularly in low- and middle-income countries. Phenobarbital remains a very important and effective therapeutic option recommended as a first line treatment by doctors in developing countries due to its low price and availability in generic form. It has demonstrated great efficacy in controlling seizures for several types of epilepsy, when it is used appropriately under medical supervision. As more epilepsy patients get diagnosed and seek medication every year, phenobarbital dispensing will continue rising proportionately across Africa, Asia and Latin America thus driving the market revenues over the forecast period. Initiatives by non-profit organizations to spread awareness about epilepsy treatment in rural communities will further aid the growth momentum of phenobarbital demand.
Global Phenobarbital Market Opportunities:
- Increasing prevalence of neonatal seizures: Seizures in newborn babies commonly known as neonatal seizures are another major application area which is expected to drive for higher sales of phenobarbital. On March 15 2023, according to UpToDate, Inc., an information services company, the incidence of neonatal seizures ranges from 1.5 to 5.5 per 1000 newborns and may be even higher in premature infants. Timely and effective treatment of neonatal seizures is critical to prevent long term neurodevelopmental impairments in children. Phenobarbital is a first-line anticonvulsant prescribed internationally to terminate acute seizure episodes in newborns and control prolonged seizure activity. Its tolerability profile, flexibility of dosage forms, and affordability make it a drug of choice amongst neonatologists.
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