Anticonvulsant Market for Fibromyalgia - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Anticonvulsant are pharmacological agents from a diverse group that are used for the treatment of epileptic seizures. Anticonvulsants are increasingly in demand on account of their use for the treatment of bipolar disorders. They are also used for the treatment of borderline personality disorder. Anticonvulsants act as stabilizers of mood and helps in the treatment of neuropathic pain. They suppress the rapid, excessive firing of neurons when a person gets seizures. Anticonvulsants also keep the seizure within the brain from spreading to other areas. Anticonvulsants are used extensively for the treatment of fibromyalgia and are thus, expected to be in continued demand during the period from 2017 to 2025. The growing incidences of epilepsy and need for managing pain due to migraines, and rising cases of fibromyalgia worldwide will boost the global anticonvulsant market for fibromyalgia in the coming years.
The report takes into account all the leading factors boosting the growth of the anticonvulsant market. It also studies the definition, causes, prevention methods, and treatment options that are available for fibromyalgia. Fibromyalgia causes pain all over the body. The patient also experiences tender points in different parts of the body such as neck, back, hips, arms, shoulders, and legs, when pressure is applied. Thus, the need for effective treatment options for the treatment of this painful disorder will boost the growth of the global anticonvulsant market for fibromyalgia in the coming years.
The global anticonvulsant market used for fibromyalgia demonstrates a massive potential for future growth. The efficiency of anticonvulsants in the treatment of various neurological disorders, specifically fibromyalgia, is likely to increase their popularity, reflecting greatly on their demand over the forthcoming years.
The increasing prevalence of fibromyalgia, boosted substantially by the ever-rising base of geriatric population and the increasing expenditure on healthcare, thanks to the augmented disposable income of people have been acting as the key factors driving this market and are expected to maintain its growth pace in the near future too.
Global Anticonvulsant Market for Fibromyalgia: Drivers and Restrains
Currently, a number of both, patented and off-label anticonvulsant drugs, are being used in the treatment of fibromyalgia. Although with expired patents, Topiramate, levetiracetam, divalproex sodium, lamotrigine, oxcarbazepine, and carbamazepine are driving the global market for anticonvulsants used for the treatment of fibromyalgia considerably. In addition, a robust pipeline of anticonvulsants drugs is waiting for U.S. FDA approval, which, post approval, is expected to add significantly to this market in the years to come. The rising preference for generic products is also projected to influence anticonvulsant market remarkably over the next few years.
On the other hand, the stringent regulatory guidelines for the approval of drugs may create obstacles in the growth trajectory of this market to some extent. However, the advancement in medical and healthcare infrastructure in emerging economies is likely to normalize their effects on this market in the near future.
The global market for anticonvulsant used for fibromyalgia registers its presence across Asia Pacific, Europe, North America, and the Rest of the World. Due to the presence of a large pool of established players, North America has acquired the leading position in this market. The high disposable income of consumers that enables them to afford expensive treatments, is likely to maintain the growth pace of the North America market for anticonvulsants for fibromyalgia over the next few years. Apart from this, the growing awareness among consumers regarding health and wellness and the rising number of neurological disorders are also expected to further drive this market.
Asia Pacific, on the other hand, is anticipated to offer the most promising opportunities for the growth of the worldwide anticonvulsant market used for fibromyalgia in the near future. The improvement in economic conditions, rise in purchasing power, and the increase in the living standard of people in Asian countries, such as India and China, are likely to boost this regional market over the years to come. The substantial progress in the medical tourism industry in this region is also projected to reflect positively on the demand for anticonvulsants in Asia Pacific in the near future.
Pfizer Inc., GlaxoSmithKline Inc., UCB Group, Novartis AG, Johnson & Johnson (J&J), and Abbott Laboratories are some of the leading players operating in the global market for anticonvulsants used for fibromyalgia.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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