by The global sodium channel blockers market comprises drugs that are primarily used for treatment of pain associated with various neurological and cardiovascular conditions. Sodium channel blockers help in blocking sodium channels in nerve cell membranes, thereby preventing pain signals from reaching the brain. Some key products in this market include lidocaine, mexiletine, lamotrigine, and carbamazepine. The market is driven by rising geriatric population who are more prone to chronic pain disorders like fibromyalgia. Sodium channel blockers offer effective pain management with lesser side effects compared to opioids.
The Global Sodium Channel Blockers Market Size 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 are Biogen, Merck & Co., Parion Sciences, Alphanavi Pharma, Vertex Pharmaceuticals, SK Biopharmaceuticals, UCB Biopharma, Mylan Pharmaceuticals, Daewoong Pharmaceutical Co. Ltd., and Bio-Techne. Growing demand for drugs to manage chronic pain indication has boosted several sodium channel blockers like pregabalin and tapentadol. Major pharmaceutical companies are focusing on development of novel sodium channel blockers with improved selectivity and safety profiles.
The rising prevalence of chronic pain disorders worldwide due to aging population and increasing incidence of lifestyle diseases is a major factor driving growth of this market. According to the National Center for Complementary and Integrative Health, around 25 million Americans suffer from fibromyalgia annually. Sodium channel blockers are emerging as an effective therapeutic option for treatment of various types of chronic pain with better tolerability.
Geographically, North America accounts for the largest share in the global sodium channel blockers market owing to factors such rising per capita healthcare expenditure and growing prevalence of chronic pain disorders. However, Asia Pacific is expected to exhibit highest growth during the forecast period supported by improving access to healthcare facilities and increasing focus of pharmaceutical companies on emerging markets.
Market Key Trends
One of the key trends witnessed in the global sodium channel blockers market is the ongoing research on development of dual-acting sodium and potassium channel blockers. Blocking both sodium and potassium channels can help achieve synergistic analgesic effect for improved pain management. Major companies like Vertex Pharmaceuticals are conducting clinical trials to evaluate safety and efficacy of molecules that can selectively inhibit sodium and potassium channels. Such novel dual-acting compounds have potential to disrupt the pain management market in the long run.
Porter’s Analysis
Threat Of New Entrants: High capital requirements for manufacturing and R&D activities pose barriers for new players.
Bargaining Power Of Buyers: Large customer base with increasing prevalence of cardiac and neurological conditions increases buyers’ bargaining power.
Bargaining Power Of Suppliers: Strong expertise and supply of raw materials by few pharmaceutical players strengthen suppliers’ position.
Threat Of New Substitutes: Low threat due to lack of effective substitutes for sodium channel blockers in treatment of multiple conditions.
Competitive Rivalry: Intense competition among large global players to develop innovative drugs and acquire smaller companies.
Geographical Regions
North America dominates the global market with the largest value share due to higher acceptance of innovative therapies and presence of key players. Growing prevalence of epilepsy, arrhythmia and other conditions drive the market growth.
Asia Pacific is poised to be the fastest growing region during the forecast period owing to rising healthcare expenditure, increasing patient pool and growing focus of international players on emerging countries. Massive population base and improving access to healthcare in China and India will boost the regional market.
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 Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the Global Sodium Channel Blockers Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behavior
:- Global Sodium Channel Blockers Market 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 Market vendors
FAQ’s
Q.1 What are the main factors influencing the Global Sodium Channel Blockers market?
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 Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the Global Sodium Channel Blockers market’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:
- Source: CoherentMI, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
