The global pregabalin market is projected to witness a CAGR of nearly 3% over the forecast period.
Currently, big pharma giants seek collaborations and approvals to come up with a vaccine in the market space, to prevent the spread of COVID-19 as soon as possible. The main focus of pharma giants on the vaccines and treatment of COVID-19 is creating an impact on the other drug manufacturing and supply.
The pandemic also impacted generic manufacturers, which are supplying most of the market volume, due to supply chain issues. This is expected to decrease production rates. However, this can drive up the prices of drugs in the short term. Furthermore, the innovator drug manufacturers are likely to fill the supply gap, leading to a relatively lower impact on the market as a whole.
The market is primarily driven by the growing prevalence of epilepsy, neuropathic pain, and related disorders, globally. Additionally, the growing geriatric population, coupled with the increasing prevalence of diabetes, neuropathic pain, fibromyalgia, and others, is anticipated to fuel the market growth over the forecast period. According to the recent updates by the World Health Organization (WHO), 2019, there are an estimated 50 million people worldwide with epilepsy, of whom up to 75% live in resource-poor countries with little or no access to treatment or medical services. Moreover, about 80% of people with epilepsy live in the middle- and low-income countries.
Moreover, the company’s efforts to broaden the applications of pregabalin through R&D are expected to boost market growth. However, the FDA approval of generic versions of the drug increases the availability of the drug but decreases the market revenue. Moreover, the availability of alternatives, adverse effects, and stringent regulatory policies are expected to hamper the growth of pregabalin.
Key Market Trends
Neuropathic Pain Application Segment is Anticipated to Grow at Significant Rates
Neuropathic pain often refers to burning or shooting pain. The damage of nerves usually causes it. Pregabalin is used to reduce neuropathic pain by blocking the pain signals. The increasing cases of neuropathic pain and growing risk factors, such as diabetes and HIV, are anticipated to fuel the market growth. As per the International Diabetes Federation, an estimate of 9.3% adult population globally are affected by diabetes in 2019, and the number is estimated to reach almost 11% by 2045. Moreover, as per the National Institute of Health 2019 article, globally, diabetic polyneuropathy (DPN) has a lifetime prevalence of nearly 50%, and it is the most common diabetic complication. Around 20 to 30% of patients with DPN suffer from neuropathic pain.
Additionally, Viatris Inc's Lyrica (pregabalin) patent expiry in 2019 increased the market share for generic drug manufacturers in the market. Furthermore, continuous R&D in widening the applications of pregabalin in different disease interventions, coupled with recent product launches, is anticipated to boost the market growth.
Due to the success of Viatris Inc's Lyrica, many manufacturers have applied for pregabalin production, worldwide. Moreover, the increasing number of geriatric populations with neurological disorders is anticipated to fuel the pregabalin market growth over the forecast period.
North America is Expected to Register Significant Market Growth
Among the regional segment, North America is expected to have significant market growth over the forecast period. This growth is attributed to the growing prevalence of chronic diseases, well-established healthcare infrastructure, and the high adoption of advanced technologies and government initiatives to mandate the maintenance of health records.
As per the Centers for Disease Control and Prevention (CDC), around 3.4 million people in the United States live with seizures, including 470,000 children. Moreover, four out of 10 people with epilepsy continue to experience uncontrolled seizures despite all available treatments, while many more experience less than optimal seizure control.
However, Asia Pacific is projected to have lucrative market growth opportunities due to a large pool of patient population, increasing need for better risk management solutions, adoption and maintenance of health records, and growing prevalence of chronic diseases.
The global pregabalin market is moderately consolidated with a limited number of market players. However, the market is anticipated to be intense due to the recent approvals of generic manufacturers. Market players are focusing on new product launches and geographical expansions to increase the market share. The key market players operating in the market include Pfizer Inc., Mylan NV, Teva Pharmaceuticals, Cipla Limited, and Medley Pharmaceuticals Limited, among others.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Growing Prevalence of Epilepsy and Related Disorders
4.2.2 Rising Geriatric Population with Neuropathic Pain
4.3 Market Restraints
4.3.1 Stringent Regulatory Policies
4.3.2 Availability of Alternatives and Adverse Effects Related to Pregabalin
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.2 Oral Solutions
5.1.3 Other Products
5.2 By Application
5.2.2 Neuropathic Pain
5.2.3 Anxiety Disorder
5.2.4 Other Applications
5.3 By Geography
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
5.3.3 Asia Pacific
220.127.116.11 Rest of Asia Pacific
5.3.4 Rest of The World
6.1.1 Cipla Limited
6.1.2 Dr. Reddy's Laboratories
6.1.3 MSN Laboratories Ltd
6.1.4 Rising Pharmaceuticals Inc.
6.1.5 Teva Pharmaceuticals
6.1.6 Sciegen Pharmaceuticals Inc.
6.1.7 Zydus Cadila
6.1.8 InvaGen Pharmaceuticals
6.1.9 Amneal Pharmaceuticals LLC
6.1.10 Viatris Inc
A selection of companies mentioned in this report includes:
- Cipla Limited
- Dr. Reddy's Laboratories
- MSN Laboratories Ltd
- Rising Pharmaceuticals Inc.
- Teva Pharmaceuticals
- Sciegen Pharmaceuticals Inc.
- Zydus Cadila
- InvaGen Pharmaceuticals
- Amneal Pharmaceuticals LLC
- Viatris Inc