Epilepsy Market Trends

Growth Drivers

• Growing Prevalence of Neurological Disorders – In the recent period, the growth of neurological disorders has considerably grown up as a result of several factors such as genetic disorders, lifestyle illnesses, and accidents. Thus, for the effective treatment of these neurological disorders, the demand for epilepsy is attributed to growth in the next few years. As per recent statistics, it has been stated that more than 1 billion people around the world are being affected by some kind of neurological disease. Furthermore, nearly 7 million people worldwide die every year owing to a neurological disorder.

• Rising Cases of Brain Injuries – Brain injuries result in partial or generalized seizures, sometimes along with loss of consciousness and control of bowel or bladder function. Hence, with the growth of brain injuries among the global population, it is anticipated to fuel the revenue generation of the global epilepsy market during the assessment period. The data released by the Centers for Disease Control and Prevention (CDC), in the United States region, approximately 5.3 million men, women, and children are diagnosed with a permanent Traumatic Brain Injury (TBI) and its related disability at present time.

• Burgeoning Geriatric Population Across the Globe – Elderly people are more prone to brain injuries owing to their weak brain and deteriorating other body organs. Hence, the rising percentage of the geriatric population is forecasted to bring profitable opportunities for the expansion of the global epilepsy market. The statistics provided by the World Health Organization (WHO) have stated that by 2030, 1 out of 6 people in the world is forecasted to fall under 60 years and above. Also, the population share of geriatrics was 1 billion in 2020 which increased to 1.4 billion in 2022 and is anticipated to grow to reach 2.1 billion by 2050.

• Rapid Expansion of the Healthcare Industry – Recent data calculated the revenue generation of the global healthcare segment to be around USD 60 billion by the end of 2023. This sector is further projected to grow till 2027 with an annual growth of 10%.

• The Surge in Brain Tumors in Global Population – It was calculated that in the United States region, almost 25,000 Americans out of which around 14,000 were men and 11,000 were women were diagnosed with either brain or spinal cord tumors in 2022.

Challenges

• Rise in the Cost of the Treatment – The prevalence of epilepsy and other neurological disorders is high but their treatment cost is also very high. Thus, the population with low and middle income is not able to opt for epilepsy treatment. This factor is anticipated to hamper the market growth. 

• Lack of Patent Protections

• Increased Costs of Medications