February 24, 2024
Childhood Absence Epilepsy Treatment Market

Growing Demand For Novel Therapies To Drive The Growth Of Childhood Absence Epilepsy Treatment Market

The global Childhood Absence Epilepsy Treatment Market is estimated to be valued at US$ 238.05 Mn in 2023 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Childhood absence epilepsy is a type of idiopathic generalized epilepsy which usually begins between the ages of 4 to 10 years. It is characterized by brief episodes of lack of awareness which are associated with rhythmic spike-and-wave discharges in electroencephalograms. Symptoms include staring spells, eye blinking or other automatisms. Treatment includes anti-epileptic drugs such as ethosuximide, valproic acid and lamotrigine which help suppress seizures. Medications are typically used as the first line of treatment to control seizures and allow children to lead normal lives.

Market key trends:

The childhood absence epilepsy treatment market is expected to witness high growth over the forecast period owing to increasing research activities focused on developing novel targeted therapies. In 2021, researchers identified LGI1 (leucine-rich, glioma-inactivated 1) gene as a potential therapeutic target for childhood absence epilepsy. Several companies are engaged in developing monoclonal antibodies and gene therapies targeting LGI1 and other channels to provide better treatment options. In addition, favourable regulatory environment and rising healthcare expenditure in developing countries are further expected to support market growth during the forecast period.

Porter’s Analysis

Threat of new entrants: The research and development required to establish presence in this specialty market is quite high which limits the threat of new entrants. Additionally, established brands enjoy repeat customers which make it difficult for new players to gain foothold.
Bargaining power of buyers: The bargaining power of buyers is moderate as changing treatment requires consultation with neurologists. However, availability of generic alternatives provides options.
Bargaining power of suppliers: The existing key players dominate the supply side due to established product portfolios and manufacturing capabilities limiting the bargaining power of suppliers.
Threat of new substitutes: Though research on new drug delivery mechanisms is ongoing, approved treatment alternatives are scarce at present posing low threat of new substitutes.
Competitive rivalry: Jazz Pharmaceuticals leads the market with the only FDA approved treatment.

Key Takeaways

The Global Childhood Absence Epilepsy Treatment Market Size is expected to witness high growth, exhibiting CAGR of 7.4% over the forecast period, due to increasing prevalence of childhood absence epilepsy worldwide. The market size is expected to reach US$ 413.85 Mn by 2030 from US$ 238.05 Mn in 2023.

Regional analysis: North America dominated the global market in 2023 and is expected to maintain its lead over the forecast period. This can be attributed to growing awareness about the condition and availability of appropriate treatment options in the region. Asia Pacific is anticipated to witness fastest growth owing to rising healthcare expenditure and improving accessibility to diagnosis and therapies in major countries like India and China.

Key players: Key players operating in the childhood absence epilepsy treatment market are Jazz Pharmaceuticals, Inc. (Ireland). Jazz Pharmaceuticals leads the market with its branded drug Xywav which is the only FDA approved medication for childhood absence epilepsy treatment till date.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it