The Global Epilepsy Diagnosis and Treatment Market is set to expand at a compound annual growth rate of 6.3% over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in a detailed research report. Introduction of novel antiepileptic drugs has been a plus for the market growth as it has increased the number of available treatment options.
Improved access to therapies has also been instrumental in catalyzing the market growth which has been complemented by substantial expenditure on healthcare on a global scale. Increasing access to pharmacotherapy, especially in the developing countries of China and India purveyed by government support in the form of medical aids has boosted the growth of the market. The global epilepsy diagnosis & treatment market has witnessed FDA approval of many new drugs in the recent years which has propelled the growth of the market. The overall level of unmet needs is high in the epilepsy market which along with rising prevalence of epilepsy across the globe has aided the growth of the market. However, the high cost of treatment and corrective surgeries and lack of awareness in the developing countries is projected to impede the market growth over the forecast period.
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Segmentation
The Global Epilepsy Treatment & Diagnosis Market has been segmented based on type, diagnosis, treatment, and end user. By type, the market has been segmented into idiopathic, cryptogenic, symptomatic, and others. By diagnosis, the market has been segmented into neurological exam, blood test, imaging, and others. The imaging segment has been further segmented into electroencephalogram, computerized tomography, magnetic resonance imaging, positron emission tomography, and others. By treatment, the market has been segmented into medication, surgery, brain stimulation, and others. The medication segment has been further segmented into acetazolamide, carbamazepine, clobazam, and others. The surgery segment has been further segmented into emporal lobectomy, lesionectomy, and others. The brain stimulation segment has been further segmented into deep brain stimulation, responsive neurostimulation, and others. By end user, the market has been segmented into hospitals & clinics, diagnostic centers and others.
Competitive Landscape
The prominent players operating in the Global Epilepsy Diagnosis & Treatment Market include Pfizer, Inc. (U.S.), UCB Pharma Ltd. (U.K), GlaxoSmithKline plc (U.K), Sanofi S.A. (France), Medtronic (U.S.), Natus Medical Incorporated. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Abbott (U.S.), Novartis International AG (Switzerland), Shire (Republic of Ireland), NeuroWave Systems Inc. (U.S.), Siemens Ltd. (Germany), and others.
Industry Updates
In June 2018, the FDA approved the first-ever marijuana-based drug for the treatment of epilepsy in its severe forms. Cannabidiol (CBD), even though marijuana based, does not contain tetrahydrocannabinol (THC), the chemical which gives its users a high feeling.
In September 2018, a novel computational framework was developed jointly by Imperial College London, Duke-NUS Medical School, and UCB as a part of an international collaboration to predict new drug targets for epilepsy. CRAFT – or the ‘Causal Reasoning Analytical Framework for Target discovery’ is a big data approach that combines gene regulatory information with causal reasoning.
Regional Analysis
The global epilepsy diagnosis & treatment market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East & Africa. The Americas is currently dominating the global market for epilepsy diagnosis & treatment due to a robust healthcare sector, the presence of a vast patient pool, and an increase in a number of head trauma cases. Europe represents the second largest market for epilepsy diagnosis & treatment. A well-developed healthcare sector and government grants for research & development activities drive the market in Europe. Asia Pacific is projected to exhibit substantial growth over the forecast period and grow at the fastest rate. Developing healthcare sector in emerging economies and increasing prevalence of epilepsy in the region fuels the growth of the Asia Pacific market. The Middle East & Africa market accounts for a relatively lower share of the global market. Low expenditure on healthcare, lack of awareness regarding the disease, and stringent government policies, especially in the African region limit the growth of the market. The majority of the market share is held by the Middle East which can be attributed to high healthcare spending and the presence of a well-developed healthcare sector in the Gulf nations.
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