Overview:
Epilepsy can be classed as a major neurological disorder where the brain activity becomes abnormal and triggers unusual behavior and sensations. The disorder is discernible in young children and young adults and requires proper attention in time before it can impact the body in an adverse way.
The Epilepsy Market is expected to reach USD 590.2 Million by 2030 at 7.20% CAGR during the forecast period 2022-2030. The regional market is showing ample scope where a high prevalence of the disease can inspire growth in diverse regions.
In addition, the global market would benefit from the presence of countries in the African region where various global bodies are trying to launch initiatives to assist local doctors in curbing the diseases. However, poor economies can detract the growth rate.
Segmentation:
The report on the epilepsy market encompasses segments like by condition, diagnosis treatment, and end-use to facilitate an easy understanding of the market and gauge well how the regional market would shape up in the coming years.
- By condition, the market report on epilepsy covers epilepsy drug-resistant/intractable epilepsy and others. The former had a market share of 29.5% in 2017. The global market for the segment can provide ample growth opportunities as the requirement for drug-resistant therapies can trigger better growth. The ‘others’ segment has a market growth possibility of 7.83% CAGR during the forecast period.
- By diagnosis and treatment, the market report on epilepsy includes diagnosis and treatment. The diagnosis segment can be sub-segmented into blood tests, imaging devices, and others. The treatment segment includes neurostimulation devices, anti-epileptic drugs, ketogenic diet, brain surgery, and others. The treatment segment had 66.2% of the global share in 2017. Cost-efficiency can be taken into consideration to understand market growth possibilities.
- By end-users, the epilepsy market can include clinics, hospitals, diagnostic centers, ambulatory surgical centers, and others. The hospital segment had a market share of 29.3% in 2017.
Competitive Landscape:
MRFR’s analysis of various companies to get close to factors that can decipher the market growth and assist in the implementation of several market strategies. The recording of these moves can inspire a better understanding of the global scenario. Companies playing a significant role in providing thrust to the market are
GlaxoSmithKline PLC (U.K.), LivaNova PLC (U.K.), Medtronic PLC (Ireland),Eisai Co. Ltd. (Japan), Pfizer Inc. (U.S.), NeuroPace Inc. (U.S.), UCB SA (Belgium), Johnson Johnson Services Inc. (U.S.), Novartis AG (Switzerland), GW Pharmaceuticals PLC (U.K.), Abbott Laboratories (U.S.).
These companies are set on a path to solidify their own market stance and improve scopes for expansion in the coming days.
Regional Analysis:
The global market, upon considering from a region-specific angle, can be segmented into North America, Europe, and the Asia Pacific as major contributors. It also covers Latin America and the Middle East Africa (MEA) as countries displaying moderate growth but with the potential to improve scenario. The Americas has better market coverage and it had almost 41% of the global market share in 2017. Europe is on a track to display 8.31% CAGR during the forecast period. The regional market has potential to explore opportunities regarding research and development, and it is getting backed by the constant influx of investments. Countries like the UK, France, Germany, and others are contributing much to take the regional market ahead in the coming years.
The Asia Pacific (APAC) market is showing opportunities to score well past a valuation mark of USD 2,046.57 million by 2023. Most of the traction to grow forward would come from India, South Korea, and China where a large population is triggering high ingress of treatments needed for that.
In November 2019, NICE cleared the use of Epidyolex, a drug with cannabis in it. This is the first time a drug for cannabis got cleared to treat epilepsy in children.
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