The global Childhood Absence Epilepsy Treatment Market is estimated to be valued at US$ 238.05 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Childhood absence epilepsy, also called pyknolepsy, is a form of generalized epilepsy that usually starts in children aged 4-8 years. It is characterized by frequent nonconvulsive seizures (absence seizures) manifesting as momentary lapses of awareness and staring spells. The treatment of childhood absence epilepsy involves the use of anti-epileptic drugs (AEDs) like valproate and ethosuximide.
Market key trends:
Increasing awareness about childhood epilepsy and available treatment options is anticipated to drive the market growth during the forecast period. According to Epilepsy Foundation, about 2.9 million people in America live with epilepsy, with newly diagnosed cases each year of approximately 150,000. Moreover, access to advanced treatment options through favorable reimbursement policies for neurological disorders in developed countries is also expected to aid the market growth. However, factors such as availability of generic alternatives and social stigma associated with epilepsy in developing regions can hamper the market growth.
SWOT Analysis
Strength: Growing government support for research and development of childhood absence epilepsy treatment and rising medical expenditure.
Increasing awareness programs about seizure disorders boosting demand.
Weakness: High costs associated with developing novel drugs and therapies for rare disorders like childhood absence epilepsy limit investments.
Side effects of antiepileptic drugs reduce patient compliance.
Opportunity: Untapped potentials in developing regions present huge growth opportunities.
Emerging novel treatment options and patent expiration of branded drugs lower costs.
Threats: Stringent regulations for drug approval delays market launch of new therapies.
Errors in diagnosing epilepsy type affect treatment effectiveness.
Key Takeaways
The Global Childhood Absence Epilepsy Treatment Market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing investment in paediatric healthcare and rising healthcare expenditures in emerging nations.
North America currently dominates the market owing to high diagnosis and treatment rates coupled with high healthcare expenditures. Meanwhile, Asia Pacific is poised to emerge as the fastest growing region on account of rising medical tourism, increasing disposable incomes and growing disease awareness.
Key players operating in the childhood absence epilepsy treatment market are Jazz Pharmaceuticals, Inc. (Ireland), Eisai, Amneal Pharmaceuticals, Upsher-Smith, and SANDOZ. The market shows a moderate level of consolidation with top three players accounting for over 40% share. The long patent exclusivity period ensures high entry barriers for new entrants.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
