Worldwide Epilepsy Diagnosis & Treatment Market Scenario:
Epilepsy is a neurological disorder affecting the central nervous system. In this medical condition, the brain exhibits abnormal activity, which results in periods of unusual behavior or seizures and sometimes, loss of awareness. Temporary confusion, anxiety, uncontrollable jerking movements of the arms and legs, and others are some of the common symptoms of the disease. Increasing prevalence of epilepsy is a major driver for the market. According to a report by the World Health Organization (2018), about 50 million people across the world are estimated to suffer from epilepsy, making it one of the most common neurological diseases. In addition, the report states that the total number of people aged 65 or more is projected to increase from 524 million in 2010 to approximately 1.5 billion by 2050. Increasing number of reported head trauma cases, growing geriatric population, and rising healthcare expenditures are estimated to boost the market growth. However, factors such as high cost of therapeutic surgeries, low per capita healthcare expenditure, and lack of awareness for the disease in emerging economies are estimated to restrain the market growth, during the forecast period. The Global Epilepsy Diagnosis and Treatment Market is expected to grow at an approximate CAGR of 6.3% during the forecast period.
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Epilepsy Diagnosis and Treatment Market Segmentation:
The global epilepsy diagnosis and treatment market is segmented on the basis of type, diagnosis, treatment, and end-user. On the basis of type, the market is segmented into idiopathic, cryptogenic, symptomatic, and others. On the basis of diagnosis, the market is segmented into neurological exam, blood test, imaging, and others. The imaging segment is sub-segmented into electroencephalogram, computerized tomography, magnetic resonance imaging, positron emission tomography, and others. On the basis of treatment, the market is segmented into medication, surgery, brain stimulation, and others. The medication segment is sub-segmented into acetazolamide, carbamazepine, clobazam, and others. The surgery segment is sub-segmented into hemispherectomy, corpus callosotomy, resection surgery, and others. The resection surgery segment is further segmented into temporal lobectomy, lesionectomy, and others. The brain stimulation segment is sub-segmented into deep brain stimulation, responsive neurostimulation, and others. On the basis of end-user, the market is segmented into hospitals & clinics, diagnostic centers, and others.
Epilepsy Diagnosis and Treatment Market Regional Analysis:
The Americas dominate the global epilepsy diagnosis and treatment market owing to a well-developed healthcare sector, a huge patient population, and increasing number of head trauma cases. According to the Centres for Disease Control and Prevention in 2017, Traumatic Brain Injury (TBI) was a major cause for disability and deaths within the U.S. and was responsible for approximately 30% of all deaths from injuries.
Europe is the second largest market for epilepsy diagnosis and treatment, which is followed by Asia Pacific. Availability of funds for research, along with the presence of a well-developed healthcare sector and government support, is expected to drive the market growth within the Europe region.
Followed by Europe, Asia Pacific region is projected to be the fastest growing region for the global epilepsy diagnosis and treatment market. Presence of developing economies, such as India and China, which have a developing healthcare sector, fuels the market growth within the region. According to the Indian Brand Equity Foundation in 2017, Indian healthcare sector was estimated to grow at a fast pace and reach USD 280 billion by 2020.
The Middle East & Africa has the least share in the global epilepsy diagnosis and treatment market due to low per capita healthcare expenditures, lack of awareness for the disease, and stringent government policies, especially in the African region. Majority of the market share within this region is held by the Middle East. This can be attributed to the presence of a well-developed healthcare sector and huge healthcare expenditure due to the presence of the developed economies within the regional boundaries.
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