PUBLISHER: Allied Market Research | PRODUCT CODE: 1472192
PUBLISHER: Allied Market Research | PRODUCT CODE: 1472192
The pregabalin market was valued at $1.6 billion in 2022 and is estimated to reach $2.2 billion by 2032, exhibiting a CAGR of 3% from 2023 to 2032. Pregabalin belongs to a group of drugs known as anticonvulsants or antiepileptic drugs. Epilepsy, anxiety disorder, and neuropathic pain are the main conditions that pregabalin treats majorly. It is a member of the class of medications known as gabapentinoids, which function in the brain by modifying the activity of specific neurotransmitters.
Pregabalin was first developed as an antiepileptic medication, then it was subsequently discovered to be useful in treating a number of neuropathic pain conditions, such as fibromyalgia, diabetic neuropathy, and postherpetic neuralgia (pain in the nerves after shingles). By binding to the alpha-2-delta subunit of voltage-gated calcium channels in the central nervous system, it reduces the release of neurotransmitters such as substance P, noradrenaline, and glutamate. This control over the release of neurotransmitters lessens the likelihood of pain and stabilizes aberrant electrical activity in the brain. Pregabalin is used as an antiepileptic drug to treat generalized anxiety disorder (GAD). It is believed to have an anxiolytic effect by inhibiting the release of neurotransmitters, including glutamate and norepinephrine that are involved in anxiety pathways.
The major factor that drives the market is the surge in prevalence of neuropathic pain. Rise in geriatric population, an increase in the incidence of diabetes, and advancements in diagnostics have all contributed to a surge in the prevalence of neuropathic pain diseases, such as diabetic neuropathy and postherpetic neuralgia. Pregabalin is in high demand due to its efficacy in treating neuropathic pain, which is experienced by an increasing number of patients, thereby driving the growth of the market.
Epilepsy is a neurological illness marked by recurring seizures. Moreover, there is a surge in the incidence of epilepsy. More people receive epilepsy diagnoses and treatments as a result of greater healthcare accessibility and rise in awareness of the ailment. Patients with epilepsy are provided pregabalin, an antiepileptic treatment, to control their seizures, which increases demand for the drug, thus driving the market.
Furthermore, the rise in the number of individuals suffering from the anxiety fosters the consumption of pregabalin. With its approval for the management of GAD, the market potential of pregabalin has grown beyond the treatment of pain and epilepsy. The effectiveness of pregabalin in treating anxiety and the rise in public awareness of mental health issues are factors that drive the market expansion of this drug.
Moreover, peripheral edema, weight gain, sleepiness, and dizziness are among the side effects of pregabalin. The broad use of this medication is restricted due to safety concerns, namely pertaining to the possibility of misuse, dependence, and withdrawal symptoms. Moreover, pregabalin faces competition in the market from alternative treatments for neuropathic pain, epilepsy, and anxiety disorders, such as non-pharmacological therapies, physical therapy, and other pharmaceuticals. However, due to rise in patient population, increased disposable budgets, and improved access to healthcare, emerging markets offer pregabalin manufacturers unexplored prospects. Factors such as modifying price strategies, expanding distribution channels, and marketing initiatives are anticipated to drive market growth.
The pregabalin market is segmented into type, application, distribution channel, and region. On the basis of type, the market is bifurcated into tablet & capsules and others. On the basis of application, the market is classified into neuropathic pain, epilepsy, and others. On the basis of distribution channel, the market is categorized into hospital pharmacies, drug store & retail pharmacies, and online providers.
On the basis of region, market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and the rest of Europe), Asia-Pacific (India, China, Japan, Australia, South Korea, and rest of Asia-Pacific), and Latin America (Brazil, Argentina, Colombia, and rest of Latin America), and Middle East & Africa (GCC, South Africa, North Africa, and rest of LAMEA).
The major players that operate in the pregabalin market include Viatris Inc., Cipla, Amneal Pharmaceuticals, Rising Pharmaceutical, Teva Pharmaceutical, Lupin, ScieGen Pharmaceuticals Inc., Zydus, Medley Pharmaceuticals Ltd., and Novartis AG. The key players have adopted key strategies such as product launch to expand their product portfolio.
Key Benefits for Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the pregabalin market analysis from 2022 to 2032 to identify the prevailing pregabalin market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the pregabalin market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global pregabalin market trends, key players, market segments, application areas, and market growth strategies.
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