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HomePublishingPregabalin Market to Reach $2.2Billion Globally, By 2032 at 3% CAGR: Allied...

Pregabalin Market to Reach $2.2Billion Globally, By 2032 at 3% CAGR: Allied Market Research

Rise in number of people suffering from neuropathic pain, epilepsy, increase in awareness & initiatives taken by government for epilepsy diagnosis & treatment, and rise in number of generic product approvals drive the growth of the global pregabalin market. 

Wilmington, New Castle, Delaware, March 13, 2024 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, Pregabalin Market by Type (Tablets & Capsules and Others), Application (Epilepsy, Neuropathic Pain, and Others), and Distribution Channel, (Hospital Pharmacy, Drug Stores & Retail Pharmacies, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032″. According to the report, the global pregabalin industry generated $1.6 billion in 2022 and is anticipated to generate $2.2 billion by 2032, witnessing a CAGR of 3% from 2023 to 2032.   

Prime determinants of growth    

The factors driving the growth of the global pregabalin market include the increase in the number of people affected with neuropathic pain, epilepsy, and anxiety; the government’s rising awareness programs and initiatives for the diagnosis and treatment of epilepsy; and the rise in the number of approved generic products. However, alternative therapies for disease application restrict market growth. Moreover, high growth potential in emerging markets and a rise in the number of pipeline products for extended applications align with generic product approvals presents new opportunities in the coming years.  

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Report coverage & details:

Report Coverage    Details   
Forecast Period    2023–2032   
Base Year    2022   
Market Size In 2022    $1.6 Billion   
Market Size In 2032    $2.2 Billion   
CAGR     3%   
No. Of Pages In Report    239 
Segments Covered    Type, Application, Distribution Channel, And Region   
Drivers     Rise In Number Of People Suffering From Epilepsy & Neuropathic Pain  
Growing Awareness And Initiatives Taken By Government For Epilepsy     
Rise In Number Of Generic Product Approvals   
Opportunities    High Growth Potential In Emerging Markets     
Restraint    Availability Of Alternative Therapies  


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Recession Impact   

  • During a recession, individuals and governments might tighten their budgets, leading to reduced healthcare spending. This affects patients’ ability to access and afford pregabalins, potentially leading to moderate decreased demand for pregabalins.   
  • However, prevalence of disease conditions contributes to sustained demand for therapeutic drugs, in the face of a recession. This could boost the need for pregabalin from the global recession.   

The tablets & capsules segment to maintain its lead position during the forecast period   

On the basis of type, the tablets & capsules segment accounted for the largest share in 2022, contributing to more than four-fifths of the global market revenue, and is projected to maintain its lead position during the forecast period owing to a wide availability of tablets of varying strength & generic product approval & launches by various key players.   

The neuropathic pain segment to maintain its lead position during the forecast period   

On the basis of application, the neuropathic pain segment accounted for the largest share in 2022, contributing tomore than two-thirds of the global pregabalin market revenue, and is projected to maintain its lead position during the forecast period. This is attributed to an increase in the incidence of neuropathic pain and efficient management of the same.  

The online provider segment to maintain its lead position during the forecast period   

On the basis of distribution channel, the drug store & retail pharmacies segment accounted for the largest share in 2022, contributing to more than three-fifths of the global pregabalin market revenue, and is projected to maintain its lead position during the forecast period. The online providers segment is expected to register the highest CAGR during the forecast period owing to ease in convenience & availability through ecommerce and higher discounts.  

North America to maintain its dominance by 2032  

On the basis of region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global pregabalin market revenue and is likely to dominate the market during the forecast period. This is attributed to its well-developed healthcare infrastructure, easy availability of pregabalin, and governmental initiatives. However, Asia-Pacific is expected to witness the highest CAGR from 2023 to 2032. This is attributed to rise in awareness of epilepsy, surge in incidences of neuropathic pain, and increase in healthcare expenditures.   

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Leading Market Players: 

  • Viatris Inc.  
  • Cipla  
  • Amneal Pharmaceuticals  
  • Rising Pharmaceutical  
  • Teva Pharmaceutical  
  • Lupin  
  • ScieGen Pharmaceuticals Inc.  
  • Zydus  
  • Medley Pharmaceuticals Ltd.  
  • Novartis AG 

The report provides a detailed analysis of these key players in the global pregabalin market. These players have adopted strategies such as product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.    

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About Allied Market Research: 

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI. 

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.   

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Originally published at https://www.einpresswire.com/article/695596055/pregabalin-market-to-reach-2-2billion-globally-by-2032-at-3-cagr-allied-market-research

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