Friday , December 8 2023

Epilepsy Market Growth by Opportunities, Current Trend, Segments and Forecast by 2028

Market Overview: In 2020, the global epilepsy market demonstrated substantial strength and is projected to maintain a steady revenue Compound Annual Growth Rate (CAGR) throughout the forecast period. Key drivers of revenue growth include an increasing number of road accidents and a rapidly expanding global geriatric population, with a higher prevalence of epilepsy observed among the elderly worldwide.

Epilepsy, characterized by abnormal brain activity, leads to unusual behavior, loss of awareness, and seizures. Factors such as the rising incidence of brain injuries, a higher occurrence of post-traumatic seizures in patients, and increased government funding for the development of effective drugs contribute to the global epilepsy market’s revenue growth. The World Health Organization (WHO) reports approximately 50 million people globally suffering from epilepsy, prompting healthcare organizations to conduct awareness campaigns.

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Major Growth Drivers of the Global Epilepsy Market: The growth of the global epilepsy market is propelled by factors such as an increase in accidents, a high prevalence of brain injuries, particularly post-traumatic epilepsy, and a growing global geriatric population, leading to a heightened demand for epilepsy treatment. Conditions like cough, fever, and disruptions to organs such as the kidneys, liver, and nervous system may also contribute to epilepsy or strokes, creating a significant need for epilepsy treatment.

Factors Restraining Growth of the Global Epilepsy Market: Challenges to the growth of the global epilepsy market include the high cost of patented medicines, a time-consuming approval process, and limited availability of these drugs in developing and underdeveloped countries.

Opportunities for Players in the Global Epilepsy Market: Major players in the market are focusing on research and development to introduce advanced drugs, aiming to address the ongoing demand for treatment. The absence of a definitive cure for epilepsy encourages research projects aimed at developing more accurate treatment options, presenting revenue opportunities for key players in the global epilepsy market.

Global Epilepsy Market Revenue Driven by Diagnosis and Treatment Segment: The global epilepsy market, segmented into diagnosis and treatment, saw the diagnosis segment contribute the largest share of revenue in 2020. This trend is expected to continue, driven by the increasing need for diagnosis before deciding on treatment. The treatment segment is anticipated to exhibit the highest revenue growth rate, attributed to the rising incidence of epilepsy in patients with brain injuries and the prevalence of the condition in the global geriatric population.

Leading End-Use Segment in the Global Epilepsy Market: Based on end-use, hospitals accounted for the major share of revenue in the global epilepsy market in 2020. This is attributed to government funding for treatment facilities in hospitals, coupled with a growing patient influx.

North America Leads in Global Epilepsy Market Revenue: North America dominated the global epilepsy market in 2020, benefiting from increased government initiatives for awareness, favorable reimbursement scenarios, a well-developed healthcare infrastructure, and the presence of major players. The Asia Pacific region is expected to lead in terms of revenue Compound Annual Growth Rate (CAGR) due to government support, improved treatment facilities in emerging economies, rising patient awareness, increased spending on health and wellness, and advanced treatment options for epilepsy.

Major Companies Profiled and Their Strategies: Key companies in the global epilepsy market, including LivaNova PLC, Pfizer Inc., GlaxoSmithKline PLC, Eisai Co. Ltd., Medtronic PLC, Abbott Laboratories, Johnson & Johnson Services Inc., Novartis AG, and UCB SA, are actively involved in research and development to advance and innovate drug treatments.

LivaNova PLC is focused on advancing its Vagus Nerve Stimulation (VNS) therapy system, FDA approved for Drug Resistant Epilepsy (DRE). Pfizer Inc. is exploring the use of LYRICA as adjunctive therapy for epilepsy patients aged 5-65 years. Eisai Co. Ltd. has developed Perampanel, a first-in-class anti-epileptic agent approved in over 70 countries for reducing neuronal hyperexcitation leading to seizures.

Report Highlights and Unique Offerings: The report provides historical data, forecasts, and revenue growth analysis at global, regional, and country levels from 2018 to 2028. It includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, market share contributions, industry analysis, competitive landscape, company financials, and impact analysis. The detailed view encompasses changing dynamics, trends, scenarios, market and regional segmentation, landscape analysis, major investments, product offerings, launches, and historical, current, and projected revenues. The report also features a comprehensive segmentation based on condition, diagnosis and treatment, end use, and region.

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