Market Dynamics
Consumer demand is predicted to be fueled by the high sensitivity risk of geriatric epilepsy. Furthermore, brain injury that can lead to post-traumatic epilepsy (PTE) and post-traumatic seizures (PTS) can increase demand for epilepsy drugs. Primary variables such as the development of experimental medicines, the advent of new pharmaceuticals in developed nations, and the incidence of neurological illnesses such as meningitis and tumours all influence the global demand for epilepsy. An improvement in healthcare prices and an increase in disposable income are also driving this upward trend.
Emerging trends, such as companies focusing on developing novel treatments for refractory epilepsy and doctors demanding more effective pharmaceuticals, are driving up RD spending in the industry. The market is also developing because to the increasing adoption of rational polytherapy and enhanced imaging technology for early diagnosis. Furthermore, the industry is expected to benefit from the implementation of innovative digital healthcare models such as mHealth and telemedicine.
Market Overview
According to MRFR, the Global Epilepsy Market is poised to acquire USD 9.50 billion valuation by 2023, exhibiting a CAGR of 8.20% over the review period (2018-2023).
Segment Overview
The global market for epilepsy by disorder, diagnosis treatment, and end-use.
The market is divided into two types of epilepsy: drug-resistant/intractable epilepsy and others. By the end of the projection period, the drug-resistant epilepsy segment is estimated to be worth USD 2.93 billion. The introduction of rational polytherapy for treating disease with minimal side effects is projected to boost the epilepsy market's revenue.
The market for epilepsy is divided into two categories: diagnosis and therapy. Due to the availability of low-cost drugs to treat partial epileptic seizures, the treatment category is likely to drive the market at a 7.91 percent CAGR over the forecast period. Furthermore, regulatory agencies' approval of successful pharmaceuticals will aid the segment's development. The diagnostic segment, on the other hand, is predicted to mature at an 8.76 percent CAGR over the evaluation period. The use of a variety of imaging and blood tests to determine the issue early on is predicted to speed up segment growth tenfold.
The epilepsy market is divided into hospitals, clinics, diagnostic centres, ambulatory surgery centres, and others based on end-users.
Over the research period, the hospital segment is expected to lead market growth, followed by clinics. In addition, hospitals that encourage the purchase of drugs on-site are more likely to support the market.
Regional Overview
The Americas, Europe, Asia Pacific (APAC), and the Middle East and Africa make up the epilepsy industry in the region (MEA).
In 2017, the Americas accounted for 41% of the total, followed by Europe, APAC, and MEA. Because of the availability of well-established healthcare facilities, favourable government policies aimed at boosting the healthcare sector, and the presence of major research and development programmes, North America is a leading contributor to the market.
Over the forecasted period, Europe is estimated to grow at an annual rate of 8.31%. Increased investment in epilepsy research and production, combined with a high prevalence of the disease, is predicted to drive regional demand exponentially higher.
The APAC epilepsy market is expected to reach USD 2.04 million by 2023, owing to the increasing prevalence of the ailment in the region. Over the foreseeable period, consumer demand will be boosted by India, South Korea, and China, which are developing as viable destinations for studying and producing novel items.
