Pregabalin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Pregabalin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The pregabalin market is projected to witness a CAGR of nearly 3% over the forecast period (2022-2027).

The COVID-19 pandemic had a drastic effect throughout the world, especially on the healthcare systems which affected not only the patients infected with COVID-19 but others as well, which resulted in cancellation or rescheduling of diagnostics and treatment procedures and further, the restrictions imposed by governments across the world to curb COVID-19 pandemic affected the research activities as well as logistics and supply chain of the various crucial pharmaceutical products which had its impact on the studied market. However, several studies reported that there is a high risk of increase in incidence and prevalence of neuropathic pain after the COVID-19 pandemic which might have a positive impact on the market over the forecast period. For instance, according to a research study published in January 2021, titled “Potential for Increased Prevalence of Neuropathic Pain After the COVID-19 Pandemic”, there is a chance that certain COVID-19-infected patients will experience neuropathic pain within a few weeks or months, or that neuropathic pain sufferers could experience worsening neurological complications or worsening of their pain. Hence, COVID-19 is expected to have a significant impact on the pregabalin market.

The high and growing prevalence of epilepsy and related disorders such as neuropathic pain and anxiety disorders are expected to be primary growth factors for the pregabalin market as the pregabalin market is used in the management and treatment of these disorders. For instance, according to the February 2022 update of the World Health Organization, epilepsy affects about 50 million people around the world, with 80% of this population residing in low- and middle-income countries. Further, as per the same source, about 5 million cases of epilepsy are diagnosed every year and as per estimates, up to 70% of epilepsy sufferers could avoid seizures if they had the right diagnosis and care. Thus, with the increasing awareness about the disease, the demand for effective treatment is expected to increase which is expected to fuel market growth.

Further, the significant impact of COVID-19 on mental health is expected to increase the burden of mental disorders like anxiety which is expected to have a positive impact on the market. For instance, as per the March 2022 report of the World Health Organization, an enormous 25% increase in the global prevalence of anxiety and sadness was seen in the first year of the COVID-19 pandemic owing to the factors such as lockdown, social isolation, loneliness, fear of infection, suffering, and death. As pregabalin is used as a treatment for epilepsy, anxiety disorders, and other related disorders, its use is expected to increase with the increase in the burden of disorders around the world, and thus, the pregabalin market is expected to grow over the forecast period.

The rising geriatric population with neuropathic pain is expected to further fuel growth in the pregabalin market as pregabalin is used in neuropathic pain treatment and as the geriatric population increases around the world, the burden of neuropathic pain is further expected to increase over the forecast period. For instance, according to the October 2021 report of the World Health Organization, the population of people of age 60 years and more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050.

In addition, the launch of new products in the market is further expected to boost market growth over the forecast period. For instance, in December 2020, Sawai Pharmaceutical Co., Ltd. Launched a generic version of the Lyrica pregabalin brand in Japan for the treatment of neuropathic pain and pain associated with fibromyalgia.

Additionally, Viatris Inc's Lyrica (pregabalin) patent expiration in 2019 enhanced generic medicine producers' market share. For instance, in March 2021, Lupin Limited announced the launch of Romark Laboratories, L.C.'s authorized generic version of Alinia (nitazoxanide) Tablets, 500 mg. In patients 12 years of age and older, Nitazoxanide Tablets, 500 mg, are used to treat diarrhoea caused by Giardia lamblia or Cryptosporidium parvum. Therefore, due to the above-mentioned factors, the pregabalin market is expected to grow over the forecast period. However, the availability of alternative treatments, adverse effects associated with pregabalin, and stringent regulatory policies are expected to restrain the pregabalin market during the forecast period.

Key Market TrendsNeuropathic Pain Application Segment is Expected to Occupy a Major Share in the Market During Forecast Period

Neuropathic pain is a type of pain that is frequently persistent, and it typically results from a chronic, progressive nerve illness, however, it can also be brought on by an injury or an infection. The discomfort associated with neuropathic pain is not frequently brought on by an incident or injury. Instead, the body just sends pain signals to your brain unprompted. The major cause of neuropathic pain diseases (multiple sclerosis, multiple myeloma, diabetes, and others) along with injury or infection.

Pregabalin is used to reduce neuropathic pain by blocking the pain signals and thus, with the rising burden of neuropathic pain and its risk factors, the demand for pregabalin is expected to grow, therefore, propelling growth in the segment over the forecast period. For instance, according to a review study published in February 2022, titled “Neuropathic Pain in Neurologic Disorders: A Narrative Review”, about 3–17% of the general population suffers from neuropathic pain, and neuropathy can contribute to chronic pain and be a component of mixed pain syndromes. Hence, the high burden of neuropathic is expected to boost the segment’s growth during the forecast period.

Further, the rising burden of risk factors for neuropathic pain like diabetes is expected to have a crucial impact on the growth of the neuropathic pain segment. For instance, according to the September 2021 report of the International Diabetes Federation, about 537 million adults of age 20-79 years are living were living with diabetes in 2021 and the total number of people living with diabetes is projected to rise to 643 million by 2030 and 783 million by 2045. Moreover, as per the National Institute of Health 2021 article, globally, diabetic polyneuropathy (DPN) has a lifetime prevalence of nearly 50%, and it is the most common diabetic complication, and around 20% to 30% of patients with diabetic neuropathy suffer from neuropathic pain. Thus, increasing diabetes cases are further expected to boost market growth over the forecast period.

North America is Expected to Hold a Significant Share in the Market Over the Forecast Period

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 epilepsy and related diseases, the rising geriatric population, and the availability of pregabalin in the region. For instance, according to a research study published in May 2020, titled “The Situation of Epilepsy in Mexico and Latin America”, the prevalence of epilepsy in Mexico was found, reporting rates of 3.9 to 42.2 per 1,000.

Similarly, according to the September 2021, report of Statistics Canada, approximately one in four (25%) Canadians aged 18 and older screened positive for symptoms of depression, anxiety, or posttraumatic stress disorder (PTSD) in spring 2021, up from one in five (21%) in fall 2020. Hence, the demand for pregabalin is expected to increase in the region, and the market is anticipated to grow over the forecast period.

In the North American region, the United States is expected to hold a significant share in the studied market owing to the high burden of diseases and the availability of more products in the country. For instance, as per the September 2020 update of the Centers for Disease Control and Prevention (CDC), around 3.4 million people in the United States live with epilepsy, including 470,000 children. As per the same source, some of the states with the highest number of cases of epilepsy were California, Florida, Illinois, New York, and Texan among others.

Further, the new product approvals in the country and their launch are expected to boost pregabalin market growth over the forecast period. For instance, in March 2020, Camber Pharmaceuticals launched Pregabalin Capsules, a generic version of Lyrica capsules for the treatment of pain caused by nerve damage due to diabetes or shingles infection. Therefore, due to the aforementioned factors, the North American region is expected to occupy a significant share in the pregabalin market over the forecast period, with the United States being the major market.

Competitive Landscape

The pregabalin market is moderately competitive with a 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 their market share. The key market players operating in the market include Viatris Inc, Amneal Pharmaceuticals LLC, InvaGen Pharmaceuticals, Zydus Cadila, Sciegen Pharmaceuticals Inc., Teva Pharmaceuticals, Rising Pharmaceuticals Inc., MSN Laboratories Ltd, Dr. Reddy's Laboratories and Cipla Limited.

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