Childhood Absence Epilepsy Treatment Market to Witness Strong Growth due to Increasing Prevalence of Epilepsy
Childhood Absence Epilepsy Treatment Market to Witness Strong Growth due to Increasing Prevalence of Epilepsy
Blog Article
The childhood absence epilepsy treatment market is focused on development of antiepileptic drugs and effective treatments. Childhood absence epilepsy, also known as pyknolepsy or petit mal epilepsy, is a neurological disorder that causes brief episodes of staring spells or lapses in awareness in children between ages of 4-10 years. Increasing prevalence of epilepsy among children due to growing adoption of sedentary lifestyle and rise in neurodevelopmental and psychiatric disorders is anticipated to boost demand for antiepileptic drugs for treatment of childhood absence epilepsy.
The global childhood absence epilepsy treatment market is estimated to be valued at US$ 274.24 billion in 2024 and is expected to exhibit a CAGR of 45% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the childhood absence epilepsy treatment market are Xylem Inc., Atlantic Ultraviolet Corporation, Calgon Carbon Corporation, Halma PLC, Trojan Technologies Inc., Heraeus Holding Gmbh, Xenex Disinfection Services LLC, Severn Trent PLC, OSRAM Gmbh, and Koninklijke Philips N.V. These players are focusing on developing innovative antiepileptic drugs with improved efficacy and fewer side effects for treatment Childhood Absence Epilepsy Treatment Market Growth.
The major opportunities in the market include increasing investments by pharmaceutical companies in research & development of new treatment options and favorable government support for development of orphan drugs for rare neurological disorders like childhood absence epilepsy.
The childhood absence epilepsy treatment market is expanding globally, especially in Asia Pacific and Latin America, due to growing medical needs, rising healthcare expenditure, and increasing awareness about availability of effective treatment options in developing countries.
Market Drivers
Increasing prevalence of epilepsy among children due to sedentary lifestyle and excessive use of digital devices is a major growth driver. It is estimated that epilepsy affects nearly 1% of children globally.
Market Restrain
Side effects of antiepileptic drugs limit full compliance of treatment. Common side effects include fatigue, dizziness, nausea, behavioral changes etc. which act as a restrain for the market. Development of safer treatment alternatives remains a challenge.
Segment Analysis
The global childhood absence epilepsy treatment market is segmented based on drug class, route of administration and distribution channel. The drug class segment includes valproate, ethosuximide, and lamotrigine. Valproate dominates the drug class segment as it is the first line drug prescribed for childhood absence epilepsy. It has shown high efficacy in reducing seizure frequency and duration in childhood absence epilepsy patients along with a good safety profile.
Based on the route of administration, the childhood absence epilepsy treatment market is bifurcated into oral and parenteral. The oral route of administration holds a major share of the market as oral drugs are easy to administer and have better patient compliance. The distribution channel segment comprises hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominates the distribution channel segment as hospital is the primary point of contact for most childhood absence epilepsy patients.
Global Analysis
Regionally, North America holds the major share of the global childhood absence epilepsy treatment market and is projected to continue dominating during the forecast period. This is attributed to the growing awareness about childhood absence epilepsy diagnosis and treatment in the region. Europe is the second largest regional market due to increasing healthcare spending and rising research and development activities pertaining to orphan drugs. However, Asia Pacific is poised to grow at the fastest CAGR during the forecast period owing to improving healthcare infrastructure, increasing medical spending, and focus of key players on untapped market opportunities in the region.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)