Global Sodium Channel Blockers Market SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (undefined)

Global Sodium Channel Blockers Market Analysis

The global sodium channel blockers market size was valued at US$ 5.64 Bn in 2023 and is expected to reach US$ 9.96 Bn by 2030, at a CAGR of 8.5% from 2023 to 2030. Sodium channel blockers are a class of pharmaceutical drugs that are used primarily to treat cardiac arrhythmias by blocking sodium ion channels in the myocardium. Sodium channel blockers work by preventing or delaying sodium influx into cardiac cells, thereby lengthening the effective refractory period and slowing conduction velocity through the cardiac tissue. Some key applications of sodium channel blockers include the treatment of ventricular arrhythmias, atrial fibrillation, supraventricular tachycardia, and refractory hypertension. The global sodium channel blockers market has grown steadily over the years driven by the rising geriatric population who are more susceptible to cardiac conditions as well as the increasing adoption of sedentary lifestyles that contribute to cardiovascular diseases.

Global Sodium Channel Blockers Market Drivers

• Increasing prevalence of cardiovascular diseases: The increasing prevalence of cardiovascular diseases across the globe is a key factor driving the growth of the global sodium channel blockers market. Cardiovascular diseases have become one of the leading causes of death and disability worldwide in the recent past. For instance, according to the World Health Organization (WHO) data, cardiovascular diseases are estimated to be the number one cause of deaths globally, accounting for over 17.9 million deaths each year. Sodium channel blockers are one of the primary medical interventions used for the treatment and management of various cardiovascular conditions, such as hypertension, arrhythmias, and congestive heart failures, which are rising rapidly.
• Rising global geriatric population: The rising global geriatric population is a key driver propelling the growth of the global sodium channel blockers market. As the proportion of elderly in the total population increases worldwide, so does the prevalence of chronic medical conditions that sodium channel blockers are used to treat. For instance, according to the World Health Organization, the number of people aged 65 years and older is projected to increase from 727 million in 2020 to over 1.5 billion by 2050. The share of global population aged over 65 will rise from 9% to 16% within the same timeframe. Similarly, United Nations data predicts that the number of people aged 80 years or over will triple from 143 million in 2019 to 426 million by 2050.
• Increasing investments in research and developments: Increasing investments in research and development is playing a crucial role in driving the growth of the global sodium channel blockers market forward. Sodium channel blockers are an important class of drugs used to treat various medical conditions by blocking sodium ions from flowing into neurons. As new disease indications are being discovered and understood, pharmaceutical companies are allocating larger budgets towards developing novel and improved sodium channel blocking drugs.

Global Sodium Channel Blockers Market Opportunities

• Increasing research and development activities: Increasing research and development activities for the treatment of patients living with these devastating forms of epilepsy by using sodium channel blockers is expected to create opportunities in the market over the forecast period. For instance, in November 2022, Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, announced plans to initiate the PRAX-562 Phase 2 EMBOLD study for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEEs), following the U.S. Food and Drug Administration (FDA) authorization to proceed with the study as proposed by Praxis, up to the planned maximum dose of 1.0 mg/kg/day.
• Advancements in drug delivery methods: Advancements in drug delivery methods can certainly unlock great opportunities in the global sodium channel blockers market. Novel modes of delivery can help address some of the challenges associated with the oral administration of these drugs and potentially improve patient adherence as well. Administering sodium channel blockers through alternate routes, such as transdermal patches or gels, could help achieve steadier drug levels compared to oral pills, which are subject to variability’s associated with gastric emptying and intestinal transit time. This could translate to better efficacy and management of conditions like seizures, arrhythmias, or neuropathic pain. Non-invasive delivery routes may also alleviate issues like gastrointestinal irritation sometimes caused by oral sodium channel blocking drugs.

Global Sodium Channel Blockers Market Restraints

• Stringent regulations for drug approval from regulatory authorities: Stringent regulations for drug approval from regulatory authorities around the world are presenting significant challenges for the growth of the global sodium channel blockers market. Sodium channel blockers are an important class of drugs used for managing various cardiac conditions like arrhythmias as well as chronic pain conditions. However, the drug approval process has become extremely lengthy and complex in recent years with regulatory bodies like the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) mandating extensive clinical testing to establish the safety and efficacy of new drug candidates.
• The adverse effects associated with sodium channel blockers: The adverse effects associated with sodium channel blockers is significantly restraining the growth of the global sodium channel blockers market. Sodium channel blockers work by blocking sodium channels in neurons, which helps reduce abnormal electrical activity in the cells of the heart, brain, and the nervous system. However, these drugs can have numerous side effects that discourage patients from opting for them. For instance, in July 2022, according to an article published in National Center for Biotechnology Information, complications of sodium channel blocker toxicity include cardiogenic shock, hypotension, bradycardia or tachycardia, cardiovascular collapse, respiratory depression, etc.

Analyst’s Views:

The global sodium channel blockers market shows promising growth prospects driven by the rising prevalence of cardiac arrhythmias, epilepsy, and chronic pain disorders. With increasing aging population worldwide, neurological diseases and cardiovascular issues have become more common. This will augment the demand for sodium channel blockers in the coming years. Furthermore, rising healthcare expenditure in emerging nations provides numerous opportunities for market players to expand their geographic reach. However, patent expiries of major brand name drugs will offer chances for cheaper generic versions. This is expected to intensify competition and benefit price-sensitive customers.