Boost Growth of the Global Phenobarbital Market

Sneha

Boost Growth of the Global Phenobarbital Market

The global Phenobarbital Market is estimated to be valued at US$ 1.58 Bn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:-

Phenobarbital is a barbiturate medication which acts as a central nervous system depressant. It is mainly used in the treatment of epilepsy and insomnia. Phenobarbital is preferred as the drug of choice for neonatal seizures because of its long half-life and low cost. It induces hepatic enzymes and has sedative-hypnotic and anticonvulsant effects. Due to its favourable pharmacokinetic and pharmacodynamic properties, phenobarbital continues to be used as a standard treatment for epilepsy.

Market key trends:-

One of the key trends in the phenobarbital market is the increasing prevalence of chronic diseases. Epilepsy is a chronic noncommunicable disease that affects people of all ages but is more common in children and older people. According to the World Health Organization, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. The rising number of patients suffering from epilepsy is the major factor fuelling demand for anti-epileptic drugs including phenobarbital. Additionally, insomnia is also a widespread disorder affecting a large section of the population. The increasing health burden of chronic illnesses and neurological disorders will support the growth of the phenobarbital market over the forecast period.

Porter's Analysis:-

Threat of new entrants: The threat of new entrants is low in the phenobarbital market owing to high manufacturing costs of drugs and stringent regulatory requirements for new drugs.
Bargaining power of buyers: The bargaining power of buyers is moderate as there exist a few established players in the market. However, the availability of substitute drugs provides buyers with alternatives.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitutes of active pharmaceutical ingredients used to manufacture phenobarbital.
Threat of new substitutes: New substitute drugs like benzodiazepines, z-drugs, and anti-depressants pose a medium threat to phenobarbital market due to their improved tolerability profile and safety.
Competitive rivalry: The phenobarbital market witnesses strong competitive rivalry among established players.

Key Takeaways:-

The Global Phenobarbital Market Demand is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing prevalence of epilepsy and convulsive disorders.

North America dominated the global phenobarbital market in 2023 and is expected to maintain its lead over the forecast period. This is attributed to the rising prevalence of neurological disorders and availability of reimbursement in the region.

Asia Pacific is anticipated to witness the fastest growth in the phenobarbital market during the forecast period. Factors such as growing geriatric population, rising research and development activities, and improving healthcare infrastructure in emerging Asian countries are expected to drive market growth.

Key players operating in the Phenobarbital market are Sanofi, Pfizer Inc., Novartis AG, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Hikma Pharmaceuticals, Zydus Cadila, Lannett Company,Â Inc., Strides Pharma Science Limited, Cipla Ltd., Lupin Limited, Aurobindo Pharma Limited, Torrent Pharmaceuticals Ltd., Reddy's Laboratories Ltd.

Sneha

Phenobarbital Market Is Driven By Increasing Prevalence Of Epilepsy

Sneha 2024-02-26

The Global Phenobarbital Market is estimated to be valued at US$ 1. The growing prevalence of epilepsy worldwide is a major factor fueling the demand for anti-seizure medications such as phenobarbital. Geopolitical Impact on Phenobarbital Market GrowthThe current geopolitical tensions and uncertainties brought on by the Russia-Ukraine conflict is negatively impacting the phenobarbital market. The ongoing trade sanctions and export restrictions are expected to continue hindering the phenobarbital market growth over the short to medium term until the geopolitical issues are resolved. European Region Dominates Phenobarbital Market ValueEurope currently dominates the phenobarbital market in terms of value and is estimated to account for over 30% share of the global market revenue.

Phenobarbital Market: Evolving Trends And Therapeutic Insights

Ashish Thapa 2023-08-10

In the ever-evolving landscape of the Phenobarbital Market, its significance has only grown. The Phenobarbital Market is experiencing a notable shift in therapeutic applications. The Phenobarbital Market is not without its challenges, however. In the current healthcare climate, patient preferences and treatment outcomes are steering the Phenobarbital Market towards patient-centric approaches. In conclusion, the Phenobarbital Market is undergoing a phase of transformation, driven by evolving therapeutic insights and changing market dynamics.

Insights into Childhood Absence Epilepsy Treatment Market: Driving Factors and Strategic Analysis

Ishika cmi 2024-04-01

The Childhood Absence Epilepsy Treatment Market is witnessing significant growth, primarily driven by several key factors. The Global Childhood Absence Epilepsy Treatment Market is estimated to be valued at US$ 158. PEST AnalysisA PEST analysis sheds light on the political, economic, social, and technological factors influencing the Childhood Absence Epilepsy Treatment Market. SWOT AnalysisA SWOT analysis of the Childhood Absence Epilepsy Treatment Market unveils its strengths, weaknesses, opportunities, and threats. Segment AnalysisSegment analysis identifies key market segments in the Childhood Absence Epilepsy Treatment Market based on treatment modality, patient demographics, and geography.

A recent study suggest that cannabidiol can be used to treat epilepsy

Pooja salve 2022-03-07

Another study also found that it inhibited the development of hippocampal-dependent memory impairment in rats. In addition to reducing seizure frequency and severity, Cannabidiol also reduces adverse events, such as seizures. A recent study published in the journal Neuropsychopharmacology reported that cannabidiol reduced the anxiety levels of patients suffering from social phobia. ly/3MmZfNJIn the study conducted by Crippa JAS and Spriggs, it also inhibited hyperlocomotion in mice and rats. The study also showed that it inhibited amphetamine-induced oxidative stress.

Global Epilepsy Drug Market 2021 Analysis Report by Recent Developments and Emerging Technologies Till 2027

Firoza Akhhtar 2021-12-03

The Global Epilepsy Drug Market Report, with its deep industry analysis of the market, estimates the market size bifurcated into segments and regions. Get | Download FREE Sample Report of Global Epilepsy Drug Market @ https://www. Which application and type segment holds the maximum share in the Global Epilepsy Drug market? What business strategies are the competitors considering to stay in the Epilepsy Drug market? Purchase the Complete Global Epilepsy Drug Market Research Report @ https://www.

Most constipation treatment can be done at home.

Shivani 2022-02-16

You can treat mild to moderate constipation at home in the majority of situations. Self-care begins with a review of what you eat and drink, followed by modifications. Here are some Constipation Treatment to help you get rid of your constipation:Drink an extra two to four glasses of water each day. Increase your intake of fruits, vegetables, whole grains, and other high-fiber foods. Reduce your intake of high-fat foods such as meat, eggs, and cheese.

WHO TO FOLLOW