Analysis of Epilepsy Market trends, future growth, regional outlook, research outlook and industry dynamics by 2027
Epilepsy Market Scope
The size of the epilepsy market is worth an impressive valuation of USD 9.50 billion at a CAGR of 8.20% during the forecast period and indicates promising business prospects, according to Market Research Future (MRFR).
Main stimulants and deterrents
The increase in cases of epilepsy across the world has put tremendous economic pressure on the healthcare sector. Epilepsy is a neurological condition characterized by sudden behavioral changes, extreme distress, and noticeable consciousness. A variety of medications help relieve patients with these symptoms. The majority of vendors strive to introduce medications and treatments with little or no side effects, as well as high efficacy in symptom management. Over the past two decades, the emergence of many antiepileptic drugs with improved efficacy and performance has gained popularity, especially in the field of pediatric epilepsy.
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The patent completion/expiration of most second-generation epilepsy treatment drugs is expected to provide business opportunities for major competitors in the epilepsy market. In addition to this, increasing approvals by the Food and Drug Administration and other regulatory authorities will result in better market growth, encouraging vendors to invest more in clinical trials. In short, the consequent increase in research and development efforts is expected to be a major growth driver for the global epilepsy market in the coming years. The majority of research and development activities focus on the development of drugs/targeted drugs related to the neurobiology of epilepsy. The high vulnerability of the elderly to epilepsy has also been favorable to the market. Additionally, brain damage causing post-traumatic epilepsy (PTE) as well as post-traumatic seizures (PTS) increase the need for epilepsy treatment.
Key global industry trends include companies focusing on the development of advanced treatments and devices for refractory epilepsy and the increasing use of rational combination therapy as well as innovative imaging technology for a faster diagnosis. The increasing deployment of advanced digital healthcare tools like telemedicine and mobile health is further adding to the value of the epilepsy market.
Epilepsy Market Segmented Review
According to the state, the epilepsy industry can be divided into drug resistant epilepsy/incurable epilepsy and more. By the end of the reporting period, the drug-resistant epilepsy segment can expect to be valued at $2.93 billion, thanks to the emergence of rational combination therapy with reduced side effects.
With respect to diagnosis and treatment, the epilepsy market can be divided into diagnosis as well as treatment. The treatment segment would register a growth rate of 7.91% between 2020 and 2027, due to the availability of low-cost drugs for the treatment of partial-onset seizures. Additionally, increasing approval of drugs by various regulatory authorities is expected to aid the growth of the segment. Meanwhile, the diagnostic segment will grow at a rate of 8.76% during the evaluation period, resulting from the extensive use of multiple blood tests and imaging tests for early diagnosis.
Major end users in the global epilepsy industry include clinics, hospitals, outpatient surgery centers, diagnostic centers, etc.
Epilepsy Market Regional Overview
The US epilepsy market takes the lead with the highest share of 41%. North America grabbed the top spot in the region, thanks to the strong presence of highly developed healthcare institutions and supportive government policies. The emergence of several research and development programs further enhances the commercial value of the region. The number of Americans with epilepsy is far higher than that of people with Parkinson’s disease, cerebral palsy and multiple sclerosis combined. Therefore, there is a great need for effective treatments for epilepsy in the region. Moreover, many organizations trying to raise awareness about epilepsy, especially in the United States, are helping to strengthen the position in the epilepsy market.
Europe expects strong gains in the coming years, with a growth rate of 8.31%, as spending on research and development of effective epilepsy drugs continues to rise. In addition to this, the large burden of epilepsy in the region is driving exponential market demand.
The epilepsy market in Asia-Pacific is expected to be worth $2.04 million over the forecast period, with cases witnessing a rapid increase among the elderly in several countries. South Korea, China, and India are the major markets that produce high-quality, innovative products, while the boom in medical tourism in these countries is further enhancing the market size.
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Major Suppliers to the Epilepsy Industry
Novartis AG (Switzerland), Eisai Co. Ltd. (Japan), Abbott Laboratories (USA), UCB SA (Belgium), LivaNova PLC (UK), GlaxoSmithKline PLC (UK), Pfizer Inc. (USA), Johnson & Johnson Services Inc. ( USA), NeuroPace Inc. (USA), GW Pharmaceuticals PLC (UK), Medtronic PLC (Ireland) are the main competitors in the epilepsy industry.
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