Pregabalin Market Segment Analysis By Product
The Pregabalin Market based on the product can be further segmented into Capsules, Oral Solutions, and Others. The Capsules Segment held the largest market share in 2021. This growth is owing to the surging application of the capsule form of pregabalin for the treatment of nerve pain. Lyrica 75 mg capsule is an anticonvulsant and is regarded as the earliest line of treatment for seizures and fibromyalgia. The advantages of the capsule form like being tasteless, odorless, and effortless to administer and being appealing and neat in appearance are further propelling the growth of the capsules segment.
Furthermore, the Oral Solutions segment is estimated to grow with the fastest CAGR of 4.6% during the forecast period 2022-2027 owing to the heightening application of oral solutions amidst patients who find it difficult to swallow capsules like Lyrica which comes as an oral solution too.
Pregabalin Market Segment Analysis By Application
The Pregabalin Market based on the application can be further segmented into Epilepsy, Neuropathic Pain, Anxiety Disorder, and Others. The Epilepsy Segment held the largest market share in 2021. This growth is owing to the surging predominance of epilepsy resulting in the greater application of pregabalin. Lyrica may be utilized to treat partial-onset seizures in mature grownups with epilepsy, as per a press release from Pfizer. The increasing utilization of pregabalin in the treatment of partial epilepsy is further propelling the growth of this segment.
Furthermore, the Neuropathic Pain segment is estimated to grow with the fastest CAGR of 4.8% during the forecast period 2022-2027 owing to the increasing application of Lyrica in the treatment of neuropathic pain in conjunction with increasing hazard determinants like diabetes.
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Pregabalin Market Segment Analysis By Geography
The Pregabalin Market based on geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America (Pregabalin Market) held the largest share with 35% of the overall market in 2021. This growth is owing to the increasing predominance of incessant ailments including epilepsy and the existence of well-entrenched healthcare infrastructure. As per the Centers For Disease Control And Prevention (CDC), 1.2% of the complete U.S, population had active epilepsy in 2015 which is around 3.4 million people with epilepsy throughout the country: 3 million mature grownups and 470,000 children. The soaring acceptance of progressive technologies and proliferating initiatives by the government to authorize the maintenance of health records are further propelling the growth of this segment.
Furthermore, the Asia-Pacific region is estimated to be the region with the fastest CAGR rate over the forecast period 2022-2027. This growth is owing to factors like profitable market growth opportunities attributed to the enormous pool of a patient population. The surging requirement for superior risk handling solutions, acceptance, and maintenance of health records, and expanding predominance of incessant ailments including epilepsy are further fuelling the progress of the Pregabalin Market in the Asia-Pacific region.
Pregabalin Market Drivers
Increased Application Of Pregabalin Is Projected To Drive The Growth Of Pregabalin Market:
Pregabalin is utilized to treat epilepsy and anxiety. It is also consumed to treat nerve pain. Nerve pain may be brought about by ailments like diabetes and shingles or an injury. As per World Health Organization (WHO), about 50 million people globally have epilepsy, turning it into one of the most typical neurological ailments worldwide. Pregabalin is utilized to treat epilepsy. Pregabalin halts seizures by minimizing the abnormal electrical action in the brain in the treatment of epilepsy. In the case of nerve pain, pregabalin obstructs pain by intruding with pain messages journeying by way of the brain and down the spine. While treating anxiety, it halts the brain from discharging the chemicals that cause anxiety. The surging application of pregabalin for treating different ailments like epilepsy is fuelling the growth of the Pregabalin Market during the forecast period 2022-2027.
Extensive Application Of Lyrica Is Expected To Boost The Demand Of Pregabalin:
Lyrica (pregabalin) is an FDA (U.S. Food and Drug Administration)-endorsed medication treatment for fibromyalgia. Fibromyalgia is an incessant ailment that brings about long-term, extensive muscle pain, and tenderness, difficulty in sleeping, and overpowering tiredness. Lyrica is a medication intended for nerve signals. As per the Centers for Disease Control And Prevention (CDC), Fibromyalgia impacts around 4 million U.S. adults, around 2% of the adult population, and the cause of fibromyalgia is not recognized, but it may be efficiently treated and handled. Researchers are not absolutely certain how Lyrica enhances fibromyalgia symptoms, but laboratory research advocates that Lyrica assists in reducing the count of nerve signals, and accordingly quietens overly sensitive nerve cells. This appears to relieve pain in patients with fibromyalgia. Lyrica has been utilized for a long time to alleviate nerve pain in patients with shingles and diabetic neuropathy. Lyrica is also applied in the treatment of partial seizures. The growing application of Lyrica is therefore driving the growth of the Pregabalin Market during the forecast period 2022-2027.
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Pregabalin Market Challenges
Limitations Of Pregabalin Usage Present Challenges To The Growth Of The Pregabalin Market:
Pregabalin may bring about serious allergic reactions. One needs to halt consuming pregabalin and look for emergency assistance if there are hives or blisters on the skin, disturbance in breathing, or swelling in the face, mouth, or throat. Certain people have suicidal thoughts while consuming pregabalin. Alertness to modifications in mood or symptoms is strongly recommended. Any novel or worsening symptoms must be instantaneously disclosed to the physician. In case of diabetes or heart ailments, weight gain or swelling in the hands or feet while consuming pregabalin need to be reported to the physician. Halting the intake of pregabalin all of a sudden, in case the patients feel well, is not recommended owing to the possibility of withdrawal symptoms. These issues are hampering the growth of the Pregabalin Market.
Pregabalin Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in this market. Pregabalin top 10 companies include:
Pfizer Inc.
Torrent Pharmaceuticals Ltd.
Lupin Limited
Zydus Cadila Healthcare Ltd
Cipla Limited
Singnature
Amneal Pharmaceuticals LLC
Mylan NV
Teva Pharmaceuticals
Medley Pharmaceuticals Limited
Acquisitions/Product Launches:
In November 2021, Cadila Healthcare (Zydus Cadila) has inked a manufacturing license and technology transfer agreement with Enzychem Lifesciences (Enzychem) of the Republic of Korea for its plasmid DNA-based Covid-19- ZyCoV-D. As per the terms of the agreement, Zydus Cadila will offer a manufacturing license and deliver the plasmid DNA vaccine technology to Enzychem Lifesciences. Both CHL and Enzychem think that this partnership will result in an approximated production of 80 million or more doses of the Plasmid DNA vaccine in 2022, as per a statement from Cadila Healthcare.
In November 2021, Cipla declared the introduction of Spirofy, Indias earliest pneumotach-based portable, wireless Spirometer, on World COPD Day. With this kick-off, the firm targets to transform Obstructive Airway Disease (OAD) diagnosis, in line with its aspiration to build up its position as the lung leader in India. This is a portion of the firms LungAttack campaign that attempts to propel awareness regarding COPD and inspire early diagnosis.
In March 2021, Lupin Limited (Lupin), declared the introduction of the authorized generic version of Alinia® (nitazoxanide) Tablets, 500 mg of Romark Laboratories, L.C. Nitazoxanide Tablets, 500 mg, are indicated in the treatment of diarrhea brought about by Giardia lamblia or Cryptosporidium parvum in patients 12 years of age and more. Nitazoxanide Tablets, 500 mg (RLD: Alinia®) had approximated annual sales of USD 56 million in the U.S. (IQVIA MAT January 2021).
Key Takeaways
Geographically, North America Pregabalin Market accounted for the highest revenue share in 2021 and it is poised to dominate the market over the period 2022-2027 owing to the increasing predominance of ailments like neuropathic diabetes and focal seizures amidst the elderly in the North American region.
Pregabalin Market growth is being driven by the increasing application of pregabalin in the treatment of ailments like epilepsy, neuropathic pain, fibromyalgia, restless leg syndrome, and generalized anxiety ailment. However, the most recurrent unfavorable events recorded with pregabalin were somnolence and peripheral edema and this is one of the major factors hampering the growth of the Pregabalin Market.
Pregabalin Market Detailed Analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Pregabalin Market report.
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