Gabapentin Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

The global market value of the Gabapentin market was valued at USD 2.5 billion in 2022, and a CAGR of 2.6% is expected during the forecast period. The increasing incidence of seizures, increasing geriatric population, increasing government initiatives and ease of purchase, increasing disposable income, and increasing investment in research and development activities are driving the growth in the market. Growing cases of neurological disorders, expanding applications in pain management, and growing awareness among healthcare professionals about the use of gabapentin in treating conditions like neuropathic disorders are driving the growth of the market. The drug’s approval for various conditions further fuels market expansion.

Impact of Covid-19

The impact of COVID-19 on the gabapentin market has been mixed. On one hand, there has been increased demand for medications addressing neurological issues, potentially driving growth. Disruptions in the pharmaceutical supply chain and healthcare services during the pandemic have badly hampered market growth. Rising awareness and education initiatives are driving the growth, and increasing awareness about neurological disorders has driven the market significantly towards success. The shift in priorities during COVID-19 is changing the market dynamics. An increase in government expenditure on healthcare is the key factor behind the growth in the market.

Growth Drivers

Increasing health awareness among people, rising disposable income, increasing awareness about neurological disorders, and expanding applications in pain management are driving the growth of the market significantly. Gabapentin’s versatility in treating various medical conditions in an effective and efficient manner is driving growth in the region.

Increasing demand for gabapentin in treating anxiety disorders and migraines is driving the growth of the market. Physicians and health practitioners are confidently prescribing this medicine to treat various diseases. The increasing prevalence of seizures and cardiovascular diseases is driving the growth in the Gabapentin market significantly. Governments all over the world are investing a large amount of money in research and development, which in turn has boosted this market significantly. The increasing incidence of neurological disorders and seizures is driving the growth of the market.

Segmentation

Product Type

·         Capsule

·         Tablet

Route of Administration

·         Oral

·         Parenteral

·         Intravenous

Application

·         Epilepsy

·         Neuropathic pain

·         Restless Legs

Mode of Purchase

·         Prescription

·         Retail

·         Over the counter

Distribution Channel

·         Hospitals

·         Retail Pharmacies

·         Online

Regional Outlook

·         Asia Pacific

·         North America

·         Europe

·         Latin America

·         Middle East and Asia Pacific

Gabapentin Market Product Type Segmentation

On the basis of product type, the gabapentin market is segmented into tablets and capsules. Capsules are more common and preferred for their convenience, and they are preferred due to their quicker absorption. Both formats are effective, but one is chosen over the other on the basis of ease of consumption and dosage precision. Due to their accurate dosing and widespread availability, capsules are the leading market segment. Tablets are mostly recommended for people who find it difficult to swallow the capsules. Increasing adoption of gabapentin due to increasing neurological disorders is propelling market growth.

Gabapentin Market Distribution Channel Segmentation

On the basis of distribution channel, the gabapentin market is segmented into hospitals, retail pharmacies, and online purchasing. Retail pharmacies are the leading segment, and online purchases are expected to dominate the market during the forecast period. Online purchasing, due to the increasing growth of e-commerce business methodologies in the market, is witnessing significant growth.

Gabapentin Market Mode of the Drug segmentation

On the basis of mode of drug, the gabapentin market is segmented into generic and patent. Generic medicines are the leading segment due to their lower cost and wider availability. While the branded version of gabapentin, like Neurontin, is also recommended to patients, The key players are Pfizer Inc., Teva Pharmaceuticals, and Sun Pharmaceuticals Ltd. And some emerging companies are doing a great job. Pfizer is one of the leading companies in the market, and it is changing the dynamics of the world market significantly.

Gabapentin Market Application Segmentation

On the basis of application, the gabapentin market is segmented into epilepsy, neuropathic pain, and restless leg therapy. Neuropathic pain is the leading segment, and is expected to dominate the market during the forecast period. Due to increasing cases of neurological disorders, and seizures the demand for gabapentin is growing significantly during the forecast period. Increasing incidences of seizures, and neurological disorders are continuously increasing.

Regional Outlook

On the basis of the regions, the gabapentin market is segmented into 5 types: Asia Pacific, North America, Europe, the Middle East and Africa, and Latin America. North America is the leading segment and is expected to dominate during the forecast period. The increasing prevalence of neurological disorders, a well-established healthcare infrastructure, and an aging population are driving the growth in the region significantly. Increased awareness and diagnosis, like neuropathic pain, are propelling the growth of the market. The presence of many key players in the United States of America and Canada is driving the growth of the gabapentin market significantly.

In the Asia-Pacific region, the gabapentin market is noticing significant growth due to increasing cases of neurological disorders, a rising aging population, and improving healthcare infrastructure, which is driving the growth in the market. The demand for pain management and growing awareness of gabapentin’s therapeutic benefits are propelling the growth of the market. Countries like China and India, due to their large populations, have a huge patient population, which is driving the growth in the region significantly.

The increasing efficacy of gabapentin in treating neurological disorders in a much better manner is driving growth in European countries like Germany, France, Italy, Spain, and England. With increasing demand for neuropathic pain and seizures in Latin America and the Middle East, the market is witnessing moderate growth. Changes in medical guidelines, patient needs, and emerging treatment options are driving the growth of the market. Increasing cases of seizures are also driving the growth in these regions.

Key Players

·         Amagen Inc

·         Bristol Myers Squibb Co.

·         Erytech Pharma

·         Novartis AG

·         Pfizer Inc

·         Rare Disease Therapeutics Inc

·         Baxter

·         Aurobindo Pharma limited

·         Zydus Cadila Healthcare ltd

·         Hikma Pharmaceuticals Plc

·         Dr. Reddy’s laboratories ltd

·         Mylan N.V.

·         Torrent pharmaceuticals ltd

·         Eisai Company Limited

·         Kiddis Pharma

·         OBI Pharma

·         Celgene Corporation

·         Spectrum Pharmaceuticals

·         Other Players