Global Gabapentin Market Research Report: Information By Dosage Form (Tablet, Capsule, and Oral Solution), By Type (Generic and Branded), By Application (Epilepsy, Neuropathic Pain, Restless Legs Syndrome, and Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and By Region (North America, Europe, Asia-Pacific, And Rest Of The World), Global Economy Insights, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast Till 2032
According to a new report by IMIR Market Research on Global Gabapentin Market Size was valued at USD 2.5 Billion in 2022. The Gabapentin market Type is projected to grow from USD 2.7 Billion in 2023 to USD 3.9 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.94% during the forecast period (2023 - 2032).
The prevalence of seizures and neuropathic pain is rising, and prescription drug use for pain management is expanding, are the key market drivers enhancing the market growth.
Gabapentin Market Trends
One of the primary factors influencing the demand for the drug is the increasing usage of gabapentin as a painkiller, particularly for neuropathic pain. This market is being driven by the rising prevalence of chronic pain conditions such diabetic neuropathy, shingles, and spinal cord injuries that are difficult to treat with conventional opioids. The drug was initially developed and prescribed for epilepsy and seizures, but in recent years, a fivefold increase in the number of physicians have begun to prescribe gabapentin "off-label" for both acute and chronic pain. Some prescribe it in conjunction with opioids, while others may recommend it in place of them.
Generic drug formulations, which are less expensive than name-brand drugs, are driving growth in this industry. Generic drugs are becoming more and more popular since they are widely available and reasonably priced, especially in developing countries with tight healthcare budgets. This tendency is predicted to fuel the growth of the gabapentin market in the Asia Pacific region, where there is a critical need for affordable healthcare.
Awareness campaigns like National Epilepsy Awareness Month in November, which seek to increase information and motivate action to understand and control the illness, also contribute to the market's growth. In order to drastically lower drug addiction, doctors prefer to administer gabapentin rather than opioids. It is anticipated that this would result in a rise in drug demand.
The availability of gabapentin in more dose forms and formulations is causing the gabapentin market to grow. It is sold as oral capsules, tablets, and solutions in addition to topical gels and creams. The drug's makers are also developing novel formulations and delivery techniques to boost the drug's effectiveness and safety. Thus, driving the Gabapentin market revenue.
Scope of Gabapentin Market Report
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Gabapentin Market. On the basis of historic growth analysis and current scenario of Gabapentin market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Gabapentin market. This further helps users with their developmental strategy.
Gabapentin Key Market Players & Competitive Insights
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Gabapentin market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Gabapentin sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Aerospace Foam industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Gabapentin sector. Major players in the Gabapentin market, including 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, Assertio Holdings, Inc., Arbor Pharmaceuticals, Inc., Pfizer Inc., are attempting to increase market demand by investing in research and development operations.
Pfizer Inc. discovers, creates, manufactures, and markets biopharmaceuticals. The company sells products to treat a variety of illnesses, including as cancer, inflammation, rare diseases, metabolic, cardiovascular, and metabolic pain disorders, as well as problems with women's health. Additionally, it provides pharmaceuticals, biosimilars, active pharmaceutical ingredients (APIs), sterile injectable drugs, contract manufacturing services, and services. Pfizer sells its products through wholesalers, retailers, pharmacies, hospitals, private medical practices, clinics, and governmental organizations. Significant manufacturing facilities for it can be found in Singapore, India, China, Japan, Ireland, Italy, Belgium, and the US.
Teva Pharmaceutical Industries Ltd. (Teva) discovers, develops, produces, and sells generic and specialty pharmaceuticals. The company sells specialized drugs for the treatment of diseases like cancer, respiratory, dermatological, women's health, and central nervous system (CNS) illnesses. It also provides generic medicines in a range of dosage forms, including capsules, pills, injectables, liquids, inhalants, creams, and ointments. Teva offers over-the-counter (OTC) products in addition to active pharmaceutical ingredients (APIs). It focuses on developing novel generic drugs. The corporation oversees its international operations through a network of subsidiaries in regions like North America, Europe, and International Markets. Teva's headquarters are in Tel Aviv, Israel. According to Teva, a generic version of gabapentin will start selling in the US in 2021.
Key Companies in the Gabapentin market include
Gabapentin Type Developments
April 2020: Mylan announced the launch of a gabapentin generic in the United States.
January 2020: The introduction of a gabapentin generic in the United States was announced by Hikma.
Gabapentin Market Segmentation
Gabapentin Dosage Form Insights
The global Gabapentin market segmentation, based on Dosage Form includes tablet, capsule, and oral solution. The market for gabapentin was dominated by the capsule category in 2022. The segment's dominance is attributed to the faster mechanism of action and greater acceptance of the dose type. Additionally, the market is expanding due to the high incidence of prescriptions for capsules and the accessibility of well-known brands in the industry, such Neurontin and Gralise. These capsules typically come in quantities of 100 mg, 300 mg, and 500 mg. Tablets are expected to have a lucrative CAGR during the forecast period due to their high consumption rate and extensive availability. Major products like Horizant and Neurontin are present, which boosts revenue generating.
Gabapentin Type Insights
The global Gabapentin market segmentation, based on Type, includes generic and branded. Due to low market entry barriers that encouraged more people to enter the market and increased consumer preference for generics, the generic segment had the greatest revenue share in 2022. Zydus Lifesciences received FDA approval for its 300 mg and 600 mg gabapentin tablets in February 2023, indicating a market with a regulatory climate that is hospitable to generics. However, it is anticipated that the product will be made at the company's Indian factory. The main focus of large generic manufacturers like Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., and Aurobindo Pharma is the sale of generic versions of the medication.
Gabapentin Application Insights
The global Gabapentin market segmentation, based on Application, includes epilepsy, neuropathic pain, restless legs syndrome, and others. The biggest revenue share was held by the epilepsy segment in 2022, and it is projected that it would continue to dominate during the forecast period. The global rise in the prevalence of active epilepsy, which necessitates ongoing pharmaceutical assistance for seizure treatment, is blamed for the domination. The adoption of gabapentin is anticipated to be hampered in middle- and lower-income countries, where over 80% of the 50 million people who suffer from epilepsy reside and lack access to basic treatments. Due to the increased prevalence of the ailment and the rising acceptance of therapies, the neuropathic pain category is anticipated to experience the quickest CAGR throughout the projection period.
Gabapentin Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. In 2022, North America accounted for the largest revenue share in the global gabapentin market, and it is predicted that it would maintain this position during the forecast period. The dominance may be attributed to the high prevalence of neurological illnesses and diseases in the region that are marked by ongoing discomfort. However, it is projected that regional expansion will be constrained by the market's rising incidence of gabapentin overdoses. The FDA supports the introduction of generic drugs in the region since it will increase the range of products that are available in the country. Further, In the North American area, the U.S. Gabapentin market had the biggest market share, while the Canada Gabapentin market had the quickest rate of expansion.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
The second-largest market share for gabapentin is in Europe. The increased demand for anti-convulsants, government initiatives, and product approvals are likely to boost the regional market. Europe is predicted to have a sizable market share due to the rise in point-of-care diagnostics, technological advancements, and untapped opportunities in emerging regions. Further, In the European region, the German Gabapentin market had the biggest market share, and the U.K. Gabapentin market had the quickest rate of growth.
From 2023 to 2032, the gabapentin market in Asia-Pacific is anticipated to experience the quickest CAGR growth. The Asia-Pacific region is expected to have considerable growth over the course of the projection period due to growing awareness of gabapentin's advantages over opioids and rising healthcare spending in developing countries like China and India. The emergence of significant generic businesses like Aurobindo Pharma, Sun Pharmaceutical Industries Limited, and Zydus Lifesciences has further spurred the expansion in Asian countries. The market is more suitable for generic items in this region because it is mostly made up of developing nations with lower incomes. Further, In the Asia-Pacific region, the Indian Gabapentin market had the quickest rate of growth while China's Gabapentin market had the greatest market share.
Gabapentin Market Report is also available for below Regions and Country Please Ask for that
Points Covered in the Report
Key Questions
Research Scope of Gabapentin Market
Gabapentin Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends:
Frequently Asked Questions
• The global Gabapentin market size was valued at USD 2.5 Billion in 2022.
• The global market is projected to grow at a CAGR of 5.94% during the forecast period, 2023-2032.
• North America had the largest share in the global market
• The key players in the market 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, Assertio Holdings, Inc., Arbor Pharmaceuticals, Inc., Pfizer Inc.
• The Capsule Dosage Form dominated the market in 2022.
• The Generic GHz Type had the largest share in the global market.
Want to Review Complete Market Research Report
Customize this Report
Related Reports