Epilepsy Industry Scenario Analysis by Fervent Players 2019 - 2023
Posted by Rohit Kamble on November 27th, 2019
Epilepsy Industry Overview
Epilepsy is a major neurological disorder in which the brain activity becomes abnormal causing periods of unusual behavior and sensations. The disorder is noticeable in young children and young adults.
The Global Epilepsy Industry is projected to touch a valuation of USD 9,509.2 million by 2023, exhibiting a CAGR of 8.20% over the forecast period (2018-2023). High prevalence of epilepsy among the geriatric population and increase in cases of brain injuries caused by accidents are major factors driving market growth.
The high susceptibility rate of attaining epilepsy among the elderly is projected to drive market demand. As per the 2018 study in the Neuroepidemiology Journal, the prevalence rate of epilepsy among individuals older than 60 was 7.7 per 1000. Moreover, brain injuries which can trigger post-traumatic epilepsy (PTE) and post-traumatic seizure (PTS) can fuel the demand in the Epilepsy Industry.
Developing economies in Africa offer a prime opportunity for investment in the market. According to a report by the World Health Organization (WHO) in 2017, nearly 80% of the patient population with epilepsy live in middle- and low-income countries. Manufacturers of epileptic drugs can capitalize on the opportunity to invest and establish facilities to cater to the growing demand.
Epilepsy Industry Segmentation
The global Epilepsy Industry is segmented by condition, diagnosis & treatment, and end-user.
By condition, the ‘others’ segment accounted for 70.5% market share in 2017. It is touted to reach a worth close to USD 6,571.40 million by 2023. On the other hand, the drug resistant epilepsy segment is projected to reach a valuation of USD 2,937.80 million by the end of the forecast period. Emergence of rational polytherapy for treating the disorder with negligible side-effects is likely to accrue significant revenue for the Epilepsy Industry.
By diagnosis & treatment, the treatment segment held 66.2% share of the Epilepsy Industry in 2017. The segment can exhibit 7.91% CAGR during the forecast period due to availability of affordable drugs for treating partial epileptic seizures. In addition, approval of effective drugs by regulatory agencies can facilitate growth in the segment. It is expected to be worth USD 6,198.63 million by 2023. On the other hand, the diagnosis segment is predicted to enjoy 8.76% CAGR over the assessment period. Utilization of various imaging tests and blood tests for early discernment of the disorder is expected to drive the segment growth exponentially. For instance, CT scans are used for revealing abnormalities in the brain which can catch the probability of epilepsy at an early stage.
By end-user, hospitals were the largest segment of the market with a valuation of USD 1,739.22 million in 2017. It is projected to exhibit a stellar 8.29% CAGR over the forecast period. On the other hand, clinics can showcase higher CAGR of 8.93% during the assessment period owing to clinics being a preferred center for diagnosis and treatment. In addition, adoption of latest equipment by doctors to provide excellent patient care can spur the growth of the segment.
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Epilepsy Industry Competitive Analysis
Key players in the Epilepsy Industry include,
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About the AuthorRohit Kamble
Joined: February 25th, 2019
Articles Posted: 194
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