The global Epilepsy Market had a strong performance in 2020 and is expected to grow steadily in the coming years. The increasing number of road accidents and the growing geriatric population worldwide are key drivers of market growth.
The prevalence of epilepsy is higher in the elderly population, making the demand for epilepsy treatment higher among them. Epilepsy is a central nervous system disorder that causes abnormal brain activity, leading to seizures, unusual behavior, and loss of awareness.
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Various factors contribute to the increasing incidence of epilepsy, including brain injuries, post-traumatic seizures, and post-surgery and medicine treatments. Governments of different countries are providing funding and resources to develop effective drugs and improve research and development of advanced drugs for epilepsy treatment, which also contributes to the growth of the global epilepsy market.
Key players in the Epilepsy Market:
- LivaNova PLC
- Pfizer Inc.
- GlaxoSmithKline PLC
- Eisai Co. Ltd.
- Medtronic PLC
- Abbott Laboratories
- Johnson & Johnson Services Inc.
- Novartis AG
- UCB SA
The World Health Organization (WHO) reported that approximately 50 million people globally suffer from epilepsy. Healthcare organizations worldwide have conducted various awareness campaigns to spread knowledge about the condition and available treatments, which support market revenue growth.
Factors that could hamper revenue growth of the global epilepsy market include the high cost of patented medicine, time-consuming approval process, and low availability of these drugs in developing and underdeveloped countries.
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Various major players in the global epilepsy market focus on research and development of advanced and novel drugs to cater to ongoing treatment needs. The treatment segment of the epilepsy market is expected to register the highest revenue growth rate due to increasing incidence of epilepsy in patients with brain injuries and rising prevalence of the condition in rapidly growing geriatric population globally.
North America has the largest revenue share of the global epilepsy market due to increasing government initiatives for spreading awareness about the condition and treatments available, favorable reimbursement scenarios, and a well-developed healthcare infrastructure. On the other hand, the Asia Pacific region leads in terms of revenue compound annual growth rate (CAGR).
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