Research Nester published a report titled “Epilepsy Market: Global Demand Analysis & Opportunity Outlook 2031” which delivers detailed overview of the global epilepsy market in terms of market segmentation by treatment, end-user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global epilepsy market is anticipated to attain a CAGR of ~3.5% over the forecast period, i.e., 2022 – 2031. The market is segmented based on end-user into hospitals, clinics, ambulatory surgical centers, diagnostic centers, and others. Out of these, the hospitals segment is anticipated to hold a substantial share over the forecast period owing to the increasing patient pool of epilepsy, coupled with the availability of specialists in every field of medical science in hospitals.
The global epilepsy market is estimated to grow on the back of growing incidences of epilepsy across the globe. According to the data by the World Health Organization (WHO), around 50 million people worldwide have epilepsy. Moreover, the growing awareness about the disease and its treatment, along with declining taboo and stigma regarding epilepsy are further projected to encourage the market growth. Along with this, factors such as growing geriatric population, high healthcare expenditure, and advancement in medical science are expected to fuel the growth of the market.
In Q4 2021, USA current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and some signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches to peak 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries especially during 2022 winters. The energy and gas crises has already started grappling the region where in many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage, created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
Healthcare Companies and Private Service Providers to have a minimal damage Caused by Inflation:
As US govt. remains committed to quality by spending more in the Medicaid and Medicare programs, incentives by govt. to medical devices, pharma companies and biotech to benefit the market players in short and long term goals. In 2021, U.S. spent $12,318/person on healthcare- highest amongst all OECD countries followed by Germany at $7,383. The federal government commitment towards healthcare systems to enable market players expanding their revenues and mitigating the risk posed by the inflation.
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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 the North America region is anticipated to gain the largest market share throughout the forecast period, owing to the increasing prevalence of epilepsy, along with advanced healthcare facilities available in the region.
The research is global in nature and covers detailed analysis on the market in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa). In addition, analysis comprising market size, Y-O-Y growth & opportunity analysis, market players’ competitive study, investment opportunities, demand for future outlook etc. has also been covered and displayed in the research report.
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Increasing Demand for Treatment of Epilepsy to Boost the Market Growth
Decreased stigma regarding seizures of epilepsy is one of the major factors behind the surge in the adoption of epilepsy treatment amongst people. As the taboo is declining, people are demanding proper medications for the patients, which has resulted in higher awareness level amongst people globally. Such factors are anticipated to boost the market growth.
However, limited accessibility to treatment in low- and middle-income countries is expected to operate as key restraint to the growth of global epilepsy market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global epilepsy market which includes company profiling of Johnson & Johnson Services, Inc., Novartis AG, Stryker B.V., Pfizer, Inc., Sanofi aventis Group, Eisai Co. Ltd., Cephalon, Inc., Abbott Laboratories, Sunovion Pharmaceuticals, Inc, Koninklijke Philips N.V., The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global epilepsy market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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