Therapies with Novel Mechanism to revitalize the Global Epilepsy Diagnosis & Treatment Market Landscape
The Global Epilepsy Diagnosis & Treatment Market is set to expand at a compound annual growth rate of 6.3% over the forecast period of 2017-2023, proclaims Market Research Future (MRFR) in a detailed research report. Introduction of novel antiepileptic drugs has been a plus for the market growth as it has increased the number of available treatment options. Improved access to therapies has also been instrumental in catalyzing the market growth which has been complemented by substantial expenditure on healthcare on a global scale.
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Increasing access to pharmacotherapy, especially in the developing countries of China and India purveyed by government support in the form of medical aids has boosted the growth of the market. The global epilepsy diagnosis & treatment market has witnessed FDA approval of many new drugs in the recent years which has propelled the growth of the market. The overall level of unmet needs is high in the epilepsy market which along with rising prevalence of epilepsy across the globe has aided the growth of the market. However, the high cost of treatment and corrective surgeries and lack of awareness in the developing countries is projected to impede the market growth over the forecast period.
The global epilepsy treatment & diagnosis market has been segmented based on type, diagnosis, treatment, and end user. By type, the market has been segmented into idiopathic, cryptogenic, symptomatic, and others. By diagnosis, the market has been segmented into neurological exam, blood test, imaging, and others. The imaging segment has been further segmented into electroencephalogram, computerized tomography, magnetic resonance imaging, positron emission tomography, and others. By treatment, the market has been segmented into medication, surgery, brain stimulation, and others. The medication segment has been further segmented into acetazolamide, carbamazepine, clobazam, and others. The surgery segment has been further segmented into emporal lobectomy, lesionectomy, and others. The brain stimulation segment has been further segmented into deep brain stimulation, responsive neurostimulation, and others. By end user, the market has been segmented into hospitals & clinics, diagnostic centers and others.
The prominent players operating in the global epilepsy diagnosis & treatment market include Pfizer, Inc. (U.S.), UCB Pharma Ltd. (U.K), GlaxoSmithKline plc (U.K), Sanofi S.A. (France), Medtronic (U.S.), Natus Medical Incorporated. (U.S.), Johnson & Johnson Services, Inc. (U.S.), Abbott (U.S.), Novartis International AG (Switzerland), Shire (Republic of Ireland), NeuroWave Systems Inc. (U.S.), Siemens Ltd. (Germany), and others.
The Americas dominate the global epilepsy diagnosis and treatment market, which can be attributed to the presence of a well-developed healthcare sector and huge patient population within the region. Moreover, increasing number of head trauma cases boosts the American market. Europe holds the second largest market share owing to the availability of funds for research, presence of a well-developed healthcare sector, and government support. Followed by Europe, the Asia Pacific region is projected to be the fastest growing region for the global epilepsy diagnosis and treatment market. Presence of developing healthcare sector, along with emerging economies of the Asia Pacific region boosts the market growth. The Middle East & Africa has the least share in the global epilepsy diagnosis and treatment market, owing to the low per capita healthcare expenditures, lack of awareness for the disease, and stringent government policies, especially in the African region. On the other hand, the Middle East region within the Middle East & Africa is estimated to be fastest growing region due to growing healthcare expenditures and presence of the developed economies, such as Kuwait, Qatar, Dubai, and others.
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