The global epilepsy market is estimated to grow at a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed to the increasing prevalence of epilepsy among other neurological diseases. Epilepsy is a non-communicable disease in which patient suffers from partial or generalized seizures, sometimes along with loss of consciousness and control of bowel or bladder function. According to the data by the World Health Organization (WHO), around 50 million people worldwide have epilepsy. Moreover, the growing awareness amongst people regarding treatment of neurological diseases, combined with high adoption of antiepileptic drugs (AEDs) are also estimated to drive the market growth. Further, the decreasing stigma regarding epilepsy is projected to increase the demand for proper treatment and care. A report by WHO estimated that up to 70% of people with epilepsy could live seizure- free if properly diagnosed and treated. Moreover, increasing global health expenditure is further anticipated to fuel the market growth. According to the data by the World Bank, USD 1,110.268 was spent on per capita healthcare, in 2018.
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The market is segmented by end-user into hospitals, clinics, ambulatory surgical centers, diagnostic centers, and others, out of which, the hospitals segment is anticipated to hold a substantial share in the global epilepsy market over the forecast period on account of increasing patient pool of people with epilepsy. Moreover, the availability of specialists in every field of medical science in a hospital facilitates the proper diagnosis of complex diseases, which is further anticipated to boost the growth of the segment over the forecast period.
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
On the basis of geographical analysis, the global epilepsy market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing awareness regarding healthcare amongst people, along with improving healthcare facilities in the region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the increasing prevalence of epilepsy in the region. It is estimated that over 1.2% of the total US population had active epilepsy.
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The global epilepsy market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global epilepsy market includes the following segments:
FREQUENTLY ASKED QUESTIONS
The rising prevalence of epilepsy all over the world is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2031.
The major players in the market are Johnson & Johnson Services, Inc., Novartis AG, Pfizer, Inc., Sanofi aventis Group, Eisai Co. Ltd., Cephalon, Inc., Abbott Laboratories, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by treatment, end-user, and by region.
The hospitals segment is anticipated to hold largest market size in value over the forecast period and display significant growth opportunities.
Limited accessibility to treatment in low- and middle-income countries is estimated to hamper the market growth.
The North America region is anticipated to provide more business opportunities over the forecast period owing to the rising cases of epilepsy.
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