Global Epilepsy Market Size, share, Demand and Sales by Top Emerging Players
Epilepsy
Market Overview
Epilepsy is a major neurological disorder in which
the brain activity becomes abnormal causing periods of unusual behavior and
sensations. The disorder is noticeable in young children and young adults.
The Global Epilepsy Market is projected to
touch a valuation of USD 9,509.2 million by 2023, exhibiting
a CAGR of 8.20% over the forecast period (2018-2023). High
prevalence of epilepsy among the geriatric population and increase in cases of
brain injuries caused by accidents are major factors driving market growth.
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Epilepsy
Market Dynamics
The high susceptibility rate of attaining epilepsy
among the elderly is projected to drive market demand. As per the 2018 study in
the Neuroepidemiology Journal, the prevalence rate of epilepsy among
individuals older than 60 was 7.7 per 1000. Moreover, brain injuries which can
trigger post-traumatic epilepsy (PTE) and post-traumatic seizure (PTS) can fuel
the demand in the epilepsy market.
Developing economies in Africa offer a prime
opportunity for investment in the market. According to a report by the World
Health Organization (WHO) in 2017, nearly 80% of the patient population with
epilepsy live in middle- and low-income countries. Manufacturers of epileptic
drugs can capitalize on the opportunity to invest and establish facilities to
cater to the growing demand.
Epilepsy
Market Segmentation
The global epilepsy market is segmented by condition,
diagnosis & treatment, and end-user.
By condition, the ‘others’ segment
accounted for 70.5% market share in 2017. It is touted to reach a worth close
to USD 6,571.40 million by 2023. On the other hand, the drug resistant epilepsy
segment is projected to reach a valuation of USD 2,937.80 million by the end of
the forecast period. Emergence of rational polytherapy for treating the
disorder with negligible side-effects is likely to accrue significant revenue
for the epilepsy market.
By diagnosis &
treatment,
the treatment segment held 66.2% share of the epilepsy market in 2017. The
segment can exhibit 7.91% CAGR during the forecast period due to availability
of affordable drugs for treating partial epileptic seizures. In addition,
approval of effective drugs by regulatory agencies can facilitate growth in the
segment. It is expected to be worth USD 6,198.63 million by 2023. On the other
hand, the diagnosis segment is predicted to enjoy 8.76% CAGR over the
assessment period. Utilization of various imaging tests and blood tests for
early discernment of the disorder is expected to drive the segment growth
exponentially. For instance, CT scans are used for revealing abnormalities in
the brain which can catch the probability of epilepsy at an early stage.
By end-user, hospitals were the
largest segment of the market with a valuation of USD 1,739.22 million in 2017.
It is projected to exhibit a stellar 8.29% CAGR over the forecast period. On
the other hand, clinics can showcase higher CAGR of 8.93% during the assessment
period owing to clinics being a preferred center for diagnosis and treatment.
In addition, adoption of latest equipment by doctors to provide excellent
patient care can spur the growth of the segment.
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Epilepsy
Market Competitive Analysis
Key players in the epilepsy market include,
·
Eisai
Co. Ltd. (Japan)
·
Novartis
AG (Switzerland)
·
Pfizer
Inc. (US)
·
GW
Pharmaceuticals PLC (UK)
·
Abbott
Laboratories (US)
·
UCB
SA (Belgium)
·
LivaNova
PLC (UK)
·
Medtronic
PLC (Ireland)
·
Johnson
& Johnson Services Inc. (US)
·
GlaxoSmithKline
PLC (UK)
·
and
NeuroPace Inc. (US).
Global Epilepsy Market Regional Summary
Region-wise, the
epilepsy market is segmented into Americas, Europe, Asia Pacific (APAC), and
the Middle East and Africa (MEA). Among them, the Americas accounted for 41%
share in 2017, followed by Europe, APAC, and MEA.
Europe is expected to
exhibit 8.31% CAGR over the forecast period. Increased investment in research
and development of effective drugs to treat epilepsy coupled with high
incidence of the disorder are factors projected to drive regional market growth
exponentially.
APAC epilepsy market is
set to touch a valuation of USD 2,046.57 million by 2023 due to high incidence
of the disorder registered in the region. In addition, countries of India,
South Korea, and China emerging as viable destinations for testing and development
of novel drugs can spur market demand over the forecast period.
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