Epilepsy Market to See Huge Growth by 2027
Overview
The global epilepsy market, during the forecast period 2018 to 2023, will register growth at a CAGR of 8.20%. The market for epilepsy is set to reach US$9.50 billion by 2023. As per epilepsy market analysts, the global market is anticipated to witness growth owing to the factors such as increasing incidence of PTE as well as the high sensitivity risk of elderly epilepsy. However, the epilepsy market will face challenges and restraints due to the rise in medication costs and time-consuming prescription approval process during the forecast period 2018 to 2023.
The development of experimental medicines in the Epilepsy Market is set to play a key role in determining the growth potential during 2018 to 2023 years. Analysts have also studied the epilepsy market to understand potential threats and challenges the epilepsy market companies could face. Although the epilepsy market is poised to grow at a fast pace across diagnosis & care, disorder, and end-use segments, factors such as lack of infrastructure could slow down the epilepsy market’s growth worldwide.
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Key Players
LivaNova PLC (U.K.), GlaxoSmithKline PLC (U.K.), Eisai Co. Ltd. (Japan), Pfizer Inc. (U.S.), Medtronic PLC (Ireland), UCB SA (Belgium), NeuroPace Inc. (U.S.), GW Pharmaceuticals PLC (U.K.), Novartis AG (Switzerland), Johnson & Johnson Services Inc. (U.S.), Abbott Laboratories (U.S.)
Market Segmentation
The research report segments the global market for epilepsy by disorder, diagnosis & care and end-use.
By Condition
By condition, the epilepsy market is bifurcated into epilepsy drug-resistant/intractable epilepsy and others. The drug-resistant epilepsy segment is expected to hit a value of USD 2.93 billion by the end of the forecast period. The advent of rational polytherapy for treating disease with minimal side-effects is expected to produce substantial revenue for the epilepsy market.
By Diagnosis and Treatment
By diagnosis and treatment, the epilepsy market for epilepsy is segmented into diagnosis and treatment. The treatment category is expected to drive the epilepsy market at a 7.91 percent CAGR during the projected period due to the availability of inexpensive medications to treat partial epileptic seizures. In addition, the approval of successful drugs by regulatory authorities will promote the development of the segment. On the other hand, the diagnostic segment is expected to mature at 8.76 percent CAGR over the evaluation period. The use of numerous imaging tests and blood tests to diagnose early on the condition is expected to accelerate segment development tenfold.
By End-Use
Based on the end-users, the epilepsy market is segmented into hospitals, clinics, diagnostic centers, ambulatory surgical centers, and others. The hospital segment is touted to dominate the market growth over the review period, followed by the clinics segment. Moreover, hospitals that encourage the procurement of medicine from hospital premises are likely to promote the market.
Regional Overview
The rising medication costs may hinder the epilepsy market growth. The market research report suggests that companies in the epilepsy market could be supported by brain damage that can cause post-traumatic epilepsy (PTE) as well as the arrival of new drugs in developed regions during the forecast period. The epilepsy market is set to register growth at a high CAGR owing to these key factors. The epilepsy market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global epilepsy market research report reveals that APAC, North America, and Europe regional epilepsy markets will dominate the global market for epilepsy during the forecast period 2018 to 2023. As per epilepsy market analysts, the market is set to witness tremendous growth across diagnosis and treatment and hospital segments in North America which covers epilepsy markets across the United States, Canada, Mexico and several other regional markets. Companies active in the epilepsy market are also analyzed and studied in the epilepsy market research report.
The epilepsy market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the epilepsy market research report covers the Asia-Pacific region covering epilepsy markets from India, China, Japan, Australia, and others. The epilepsy market is also spread across the rest of the world. The epilepsy market report covers all such regions including the Middle East, Africa, Brazil, and others.
Competitive Landscape
Epilepsy has seen increased demand over the years, due to post-traumatic seizures (PTS) and the prevalence of neurological disorders. Companies functioning in the global epilepsy market are also being challenged due to the low awareness about the challenges of epilepsy and slow approval process. Mergers and acquisitions by epilepsy market companies are anticipated to help the market during the forecast period 2018 to 2023. As the epilepsy market is set to register a high CAGR of 8.20% and is also anticipated to reach a US$9.50 billion by 2023, the report highlights key areas companies need to focus on. The report suggests that the epilepsy market will see a healthy growth in the long run till 2023. Based on SWOT analysis and epilepsy market’s analysis based on Porters’ Five Force Model presented in the epilepsy market report. Mergers and acquisitions by epilepsy market companies are anticipated to help the market during the forecast period 2018 to 2023.
Industry News
Jazz Pharmaceuticals plc will pay $7.2 billion to buy GW Pharmaceuticals plc, according to a recent deal. The deal could be completed in the second quarter of 2021. The new organisation will have a pro-forma portfolio of 19 clinical research projects in neuroscience and oncology, including sleep, epilepsy, movement disorders, psychology, haematology, and solid tumours, after the deal is completed. The merged portfolio would contain assets that are widely differentiated and meet major unmet patient needs.
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