Global Gabapentin Market is valued at approximately USD 2.02 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.35% over the forecast period 2022-2029. Gabapentin is anti-convulsant, a form of drug that helps persons with epilepsy to control their seizures. The treatment of Restless legs syndrome (RLS) and specific types of nerve discomfort also includes the use of several gabapentin variants. Gabapentin works by affecting the electrical stimulation in the brain and inducing neurotransmitters, which communicate between nerve cells.
The surging demand for generic formulations, coupled with the increasing use of the medicine as a pain reliever are the factors that are contributing to the market growth. Additionally, the rise in the number of elderly people, increasing government support activities, and growing investment in R&D by pharmaceutical companies are further stipulating the market demand across the globe.
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The rise in incidences of neuropathic pain and epilepsy is further propelling the market’s growth at a considerable rate. According to the World Health Organization (WHO), it is recorded that Epilepsy affects approximately 50 million people globally. Also, nearly 5 million people are diagnosed with epilepsy per year. Accordingly, several awareness campaigns including National Epilepsy Awareness Month in November are conducted to generate awareness to understand and control this medical condition. Thereby, the growing number of awareness campaigns and prevention programs, along with the rising prevalence of target diseases, is acting as a major catalyzing factor for the market demand. Furthermore, the rising number of government initiatives, as well as the development of emerging markets in emerging economies are presenting various lucrative prospects for market growth over the anticipated period. However, rising product (antibiotic) recalls, and increasing incidences of misuse of gabapentin are challenging factors for the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Gabapentin Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the rising prevalence of neurological disorders and chronic pain conditions, as well as rise in product approvals. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as an increase in point-of-care diagnostics, growing awareness regarding the benefits of gabapentin compared to opioids, and rising healthcare spending in the regional market.
Major market players included in this report are:
Zydus Pharmaceuticals, Inc.
Glenmark Pharmaceuticals Limited
Sun Pharmaceutical Industries Ltd.
Ascend Laboratories, LLC
Apotex Inc.
Teva Pharmaceutical Industries Ltd.
Aurobindo Pharma.
Amneal Pharmaceuticals LLC.
Cipla USA, Inc.
BP Pharmaceuticals Laboratories Company
Recent Developments in the Market:
In December 2020, Glenmark Pharmaceuticals Limited declared that the company has received final approval by the United States Food & Drug Administration (U.S. FDA) for its Tadalafil Tablets USP, 2.5 mg, 5 mg, 10 mg and 20 mg, the generic version of Cialis 1 Tablets, 2.5 mg, 5 mg, 10 mg and 20 mg, of Eli Lilly and Company.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
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The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Type:
Generic
Branded
By Dosage Form:
Tablet
Capsule
Oral Solution
By Application:
Epilepsy
Neuropathic Pain
Restless Legs Syndrome
Others
By Distribution Channel:
Hospital Pharmacy
Retail Pharmacy
Online Pharmacy
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World
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