by The global sodium channel blockers market is comprised of drugs used to block sodium ion channels and inhibit transmission of excited impulses through nerves and muscle fibers. These drugs help manage conditions like epilepsy, arrhythmia and cardiac disorders by reducing excitability of neurons or muscles. They provide relief from pain by preventing conduction of pain signals along nerves.
Key sodium channel blocker drugs include lidocaine, mexiletine, lamotrigine and phenytoin. The market is driven by the increasing burden of neurological and cardiovascular diseases worldwide along with ongoing research and development of novel Sodium Channel Blockers modulators.
The Global sodium channel blockers Market is estimated to be valued at US$ 5.64 Bn in 2024 and is expected to exhibit a CAGR of 8.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the global sodium channel blockers market are Biogen, Merck & Co., Parion Sciences, AlphaNavi Pharma, Vertex Pharmaceuticals, SK biopharmaceuticals, UCB Biopharma, Mylan Pharmaceuticals, Daewoong Pharmaceutical Co. Ltd., and Bio-Techne. These companies are involved in developing innovative sodium channel modulators through extensive R&D activities.
The market provides significant opportunities for players to launch selective sodium channel blockers with novel mechanisms of action and improved safety profiles. Ongoing clinical trials evaluating efficacy and safety of pipeline drugs in neuropathic pain, epilepsy and cardiac arrhythmias are expected to receive regulatory approvals in the coming years.
North America dominates the global market and is expected to continue its dominance during the forecast period. However, the Asia Pacific region is anticipated to exhibit the fastest growth owing to rising healthcare expenditure, large patient pool and increasing focus of international players on emerging Asian markets.
Market Drivers
The growing geriatric population is a major driver of the sodium channel blockers market. Older adults have higher risk of cardiovascular, neurological and pain related conditions for which sodium channel blockers are used. According to WHO, the proportion of world’s population over 60 years will nearly double from 12% to 22% between 2015 and 2050. Thus, the aging demographics will significantly propel market revenues in coming years.
PEST Analysis
Political: Government regulations related to drug discovery, development and commercialization impact the market. Changes in regulations related to clinical trials, production and pricing policies affect the industry.
Economic: Economic growth translates to greater healthcare spending which benefits the market. Recessionary pressures however can negatively impact demand.
Social: Increasing incidence of neurological disorders like epilepsy and migraine along with longer life expectancy drives demand. Growing awareness also aids adoption.
Technological: Advances in biologics, nanotechnology and digital therapeutics aid development of novel and targeted therapies. Emerging methods of drug delivery enhance treatment efficacy and safety.
The North American region accounts for the largest share of the global market by value, owing to favorable reimbursement policies, strong distribution network and growing prevalence of neurological disorders. The United States is a major revenue generator.
The Asia Pacific region is expected to witness the fastest growth during the forecast period due rising healthcare expenditure, growing medical tourism industry and increasing focus of global players on expanding presence in developing Asian countries. Emerging economies like China and India are expected to boost demand.
What Are The Key Data Covered In This Global Sodium Channel Blockers Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the Global Sodium Channel Blockers’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Sodium Channel Blockers and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- Global Sodium Channel Blockers Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of Global Sodium Channel Blockers vendors
FAQ’s
Q.1 What are the main factors influencing the Global Sodium Channel Blockers?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top Global Sodium Channel Blockers companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Sodium Channel Blockers’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile
