Global Anti-Epileptic Drugs for Pediatrics Market, by Drug Type (First generation anti-epileptic drugs, Second generation anti-epileptic drugs, and Third generation anti-epileptic drugs), by Route of Administration (Oral, Injectable, and Others (Nasal, etc.)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,202.4 Million in 2023 and is expected to exhibit a CAGR of 7.8% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The major players operating in the market are focused on fundings to manage epilepsy in children. For instance, in September 2022, Nicklaus Children's Hospital announced that it had received funding from the state of Florida to support the work of the hospital's epilepsy program, a world-leader in treating children with medically complex epilepsy.
Global Anti-epileptic Drugs for Pediatrics Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and consequent lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors including the private healthcare sector. The pandemic hampered the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. The private healthcare is one such sector that was significantly impacted by the COVID-19 pandemic.
Many patients suffering from COVID-19 had a severe respiratory infection that required hospitalization and mechanical ventilation. Governments of various countries are focusing on initiatives to fight against the COVID-19 pandemic and stop the spread of the coronavirus infection by implementing various measures in the countries. Moreover, the governments of various countries have collaborated with universities around the globe to find novel treatment options for COVID-19 and its related complications. However, the COVID-19 pandemic had a negative impact on the global anti-epileptic drugs for pediatrics market. For instance, in November 2022, according to the data published by the National Center for Biotechnology Information, children with epilepsy and nodding disease experienced extreme transport difficulties, increased food insecurity, and shortage or inability to afford anti-seizure medication as consequences of COVID-19-related restrictions. Additionally, the caregivers and healthcare workers adopted several coping strategies for these challenges such as taking on casual work to earn an income to buy food, medicines, and other necessities.
Global Anti-epileptic Drugs for Pediatrics Market: Key Developments
Increasing adoption of organic strategies, such as awareness campaigns, by key market players and organizations are expected to drive the global anti-epileptic drugs for pediatrics market growth over the forecast period. For instance, in May 2021, Young Epilepsy, an epilepsy charitable trust and education center, announced the launch of the #OnTopOfEpilepsy campaign to raise awareness about the link between epilepsy and mental health and call for mental health support to be integrated into children’s epilepsy care.
Browse 35 Market Data Tables and 31 Figures spread through 190 Pages and in-depth TOC on “Global Anti-epileptic Drugs for Pediatrics Market”- Forecast to 2030, Global Anti-epileptic Drugs for Pediatrics Market, by Drug Type (First generation anti-epileptic drugs, Second generation anti-epileptic drugs, and Third generation anti-epileptic drugs), by Route of Administration (Oral, Injectable, and Others (Nasal, etc.)), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Link: https://www.coherentmarketinsights.com/market-insight/anti-epileptic-drugs-for-pediatrics-market-823
- Increasing incidences of epilepsy in children are expected to propel the growth of the global anti epileptic-drugs for pediatric market growth. For instance, according to the World Health Organization (WHO), about six million children under the age of 15 live with epilepsy globally. While anti-epileptic drugs are available for controlling seizures, current treatment options are not adequate and more targeted therapies are needed. As a result, government funding bodies and non-profit organizations have significantly increased research investments towards developing improved treatment solutions for pediatric epilepsy in recent years.
Key Takeaways of the Global Anti-epileptic Drugs for Pediatrics Market:
- The global anti-epileptic drugs for pediatrics market is expected to exhibit a CAGR of 7.8% during the forecast period due to the increasing geriatric population. For instance, in 2020, according to the U.S. Census Bureau, the U.S. geriatric population is expected to reach 77 million by 2034.
- Among drug type, the first generation anti-epileptic drugs segment is estimated to hold a dominant position in the global anti-epileptic drugs for pediatrics market over the forecast period due to increasing research and development activities by key market player/institutes. For instance, in July 2022, National Taiwan University Hospital, a hospital in Taiwan, started a clinical trial to evaluate the effect of melatonin for improving sleep in pediatric epilepsy. The study is estimated to complete in July 2030.
- Among regions, North America is estimated to account for the largest market share in the global anti-epileptic drugs for pediatrics market due to the increasing prevalence of epilepsy in children over the forecast period. For instance, in December 2022, according to The Florida Department of Health, approximately 0.9% of children in the U.S. have been diagnosed with epilepsy and 0.6% currently have the condition. 38,540 children in Florida aged 0-17 have been diagnosed with epilepsy, and 25,694 children aged 0-17 currently have epilepsy in Florida.
- The major players operating in the global anti-epileptic drugs for pediatrics market include Sanofi, Eisai Co., Ltd., Pfizer Inc., UCB S.A., Sunovion Pharmaceuticals Inc., Abbott, Jazz Pharmaceuticals plc, Ovid Therapeutics Inc., SK BIOPHARMACEUTICALS, Alexza Pharmaceuticals, Inc., Taisho Pharmaceutical Holdings Co., Ltd., Marinus Pharmaceuticals, Inc., Xenon Pharmaceuticals Inc., H. Lundbeck A/S, and Teva Pharmaceutical Industries Ltd.
