The Global Epilepsy Market 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).
Market Overview
Epilepsy is a chronic condition that triggers recurrent and unprovoked seizures. Epilepsy has been known as the fourth most prevalent neurological ailment. It can affect anyone irrespective of their ages. The patients have been reported to experience disturbance or loss of movements and consciousness along with psychiatric or sensory disruptions. Over the forecast period 2017-2022, increasing per capita healthcare spending, expanding R&D for the therapeutic techniques of the ailment, and surging incidents of epilepsy are expected to accelerate the market growth. World Health Organization records that in 2017, almost 50 million individuals throughout the world suffer from epilepsy, making it one of the most prevalent neurological disorders worldwide. Almost 80% of the people affected by epilepsy have been estimated to live in low- and middle-income economies. Moreover, progresses in drug evaluation, favorable administrative steps collectively with approval of various late-stage pipeline molecules are responsible for accelerating the market expansion. However, growing generic rivalry, patent expiration, and the side effects associated with therapeutic cures are some of the factors hindering the market growth over the forecast period.
Avail Free Sample Here: https://www.marketresearchfuture.com/sample_request/7730
The anti-epilepsy drugs market is likely to expand at a steady pace across the globe. Market Research Future stated in its recently published reports that the worldwide anti-epilepsy drugs market is growing and can be estimated to gain momentum during 2017 to 2022. The market has been anticipated to reflect a consistent upsurge by the conclusion of 2022, surpassing its earlier growth records in terms of worth with a remarkable CAGR over the forecast period.
Key Players
The global anti-epilepsy drugs market has been dominated by key players such as Johnson & Johnson, Pfizer, Inc., Abbott, UCB Pharma Ltd., GlaxoSmithKline plc, Sanofi, Novartis AG, Cephalon Inc., and Shire Pharmaceuticals Limited. These are some of the noteworthy players at the forefront of rivalry in the global anti-epilepsy drugs market which have been profiled in MRFR Analysis.
Pfizer Inc. is one of the renowned players in the arena of global anti-epilepsy drugs market. In 2015, their headquarters have been established in the U.S. The company generated an annual revenue of USD 48,851 million. In 2016, the sum reached USD 52,824 million. Such a sharp rise in the global sales, helped the company to invest a considerable percentage of their sales into the research and development wing. The company invested 14.9% of its total revenue into the R&D during 2016, allowing it to launch new product, flourish its product portfolio, and hold a powerful position in the market.
Market Segmentation
Globally, the anti-epilepsy drugs market has been segmented based on region, generation, and types of seizures.
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 market.
By diagnosis & treatment, the treatment segment held 66.2% share of the epilepsy market 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.
Browse complete 196 Pages Premium Research Report along with Detailed TOC at: https://www.marketresearchfuture.com/reports/epilepsy-market-7730
Regional Analysis
Geographically, the Americas leads the worldwide market for anti-epilepsy drugs on account of the growing incidents of epilepsy, availability of the advanced technologies, along with the enhanced healthcare infrastructure within the region. The Centers for Disease Control and Prevention stated in their reports that during 2015, 1.2% of the total U.S. populace suffered from active epilepsy. Additionally, it had been projected that, in the US, the annual sum of indirect and direct worth of epilepsy was around USD 15.5 billion. Europe holds the second share in the market owing to increasing healthcare outlays, surging healthcare R&D spending by the governing bodies, and rapid patient population. The Asia Pacific region has been the fastest expanding market due to the presence of developing countries like China and India. These regions have large patient population and the countries are putting additional efforts in growing their healthcare outlays. Besides, favorable administrative policies within the region propels the market growth significantly. Middle East and Africa holds the least market share particularly because of the presence of strict government regulations and the poor economic conditions prevailing within the African market.
About Market Research Future: MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact:
Email: sales@marketresearchfuture.com
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/epilepsy-market-7730