Over the past three years, prices of anticonvulsants have been rising as a result of growing demand, regulatory compliance and production costs
Los Angeles, California (PRWEB) October 17, 2014
Anticonvulsant drugs have a buyer power score of 2.1 out of 5. The score reflects this market's negative pricing trends and indicates a low level of buyer negotiating power. During the three years to 2014, prices of anticonvulsants have been trending continuously upward due to increasing demand for epilepsy treatment and rising production costs. IBISWorld market research analyst, Anna Son, says, "As the economy has slowly been recovering and people have been gaining health coverage, demand for anticonvulsants has been increasing." The broadening use of anticonvulsants to treat other conditions has further bolstered demand. Despite the abundance of anticonvulsants on the market, manufacturers will continue expanding their research and development (R&D) efforts to commercialize new medications due to an unmet need for more effective drugs. As a result, suppliers will likely adjust their drug prices upward to recoup heightened production costs.
The anticonvulsants market is highly concentrated at the manufacturing level, with large-cap pharmaceutical firms like Pfizer, UCB and Abbott Laboratories dominating the market. "In light of patent expirations on their blockbuster drugs, these pharmaceutical giants have been actively acquiring other marketplace players to reinforce their dwindling product pipelines," says Son. This consolidation activity is expected to continue in the next three years and can diminish buyer power as top suppliers gain greater market shares. In contrast, rising pricing competition from generic anticonvulsants and pressure for cost containment will help buyers maintain their bargaining power in the coming years.
Based on the nature of their operations, buyers such as healthcare providers may have a difficult time switching suppliers due to potential risks to patient health and safety. While switching to less expensive generics may be cost effective, buyers should be aware that a generic anticonvulsant may not provide the same results as its brand name equivalent. The difficulty of switching from one type of anticonvulsant to another produced by another manufacturer restrains buyer power, leaving less room for price negotiation. For more information, visit IBISWorld’s Anticonvulsants procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of anticonvulsants, which represent a diverse group of medicines used in the treatment of epileptic seizures. Anticonvulsants are also used as a treatment for neuropathic pain and in the treatment of bipolar disorder because they act as mood stabilizers and. Anticonvulsants are also known as antiepileptic drugs and are sometimes referred to as antiseizure drugs.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain & Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
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