Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Epilepsy surgery market. In addition, complete analysis of changes on the global Epilepsy surgery market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. During COVID-19 pandemic, global epilepsy surgery market was heavily affected due to supply chain distribution, which has certainly affected the market growth to a major extent.
The global epilepsy surgery market is driven by increase in demand for epilepsy and surgical procedures. Epilepsy is the fourth most common neurological disorder after migraine, stroke and Alzheimer's disease. According to the Centers for Disease Control and Prevention (CDC), about 1.2% (3.4 million) of the U.S. population suffered from active epilepsy in 2015. According to the 2019 WHO fact sheets, approximately 50 million people worldwide suffer from epilepsy, making it one of the most common neurological diseases in the world. Almost 80% of people with epilepsy live in low- and middle-income countries. It is estimated that up to 70% of people with epilepsy could live seizure-free with proper diagnosis and treatment.
The market is expected to have growing new growth opportunities with rise in investment in research and development activities by the manufacturers to develop innovative, effective and safer means to carry out efficient epileptic surgical procedures. These factors are expected to create new market opportunity during the projection period.
The global epilepsy surgery market is expected to have market restraints like stringent government regulations, ambiguity related to health complications and side-effects due to epilepsy surgery among others. These factors are expected to create hurdler for the market growth during the forecast period.
The major growth challenge for the market is high cost of epilepsy surgery. Likewise, key challenging aspects of clinical trials for neurosurgical devices include choice of control or comparative condition and patient heterogeneity. This regulatory standard for epilepsy surgery procedures is expected to be a major growth challenge for the market.
The report provides in-depth analysis of global epilepsy surgery market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various epilepsy surgery in various applications has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The global epilepsy surgery market comprises of different market segment like procedure type, end-user and geography.
By procedure type, the epilepsy surgery includes key segments of resective surgery, laser interstitial thermal therapy (LITT) and others. The resective surgery segment is likely to have growing demand in the market. Resection surgery involves removing a small part of the brain. The surgeon cuts out brain tissue in the area of the brain where seizures occur, usually at the site of a tumor, brain injury, or abnormality. This is the most common epilepsy operation. About 70% of people who have temporal flap surgery find that the surgery stops their seizures; in addition, 20% report a reduction in seizure frequency. Epilepsy surgery is indicated in 30% to 40% of patients with refractory seizure disorders despite adequate dose antiepileptic therapy for one year.
The epilepsy surgery market is significantly studied for end-users like hospitals & clinics, specialty centers and others. The hospitals and clinics segment is anticipated to lead in the global market from 2022 to 2028. Hospitals and clinics provide advanced care to their patients and offer reimbursements at some point of surgeries, accordingly witnessing exceptional growth. Also, its share is largely attributed to the growing number of patients diagnosed with epilepsy and undergoing surgical procedures for epilepsy. Since advanced and comprehensive treatments are available in the hospital, patients usually prefer to be treated there.
The global Epilepsy surgery market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW). North America is anticipated to lead in the epilepsy surgery market during the forecast period (2022-2028). North America has dominated the epilepsy surgery market owing to various factors such as availability of well-established healthcare facilities, high prevalence of neurological disorders, and increasing incidences of epilepsy. Epilepsy is the fourth most common neurological disorder and it is estimated that approximately 150,000 Americans will be diagnosed with a central nervous system (CNS) disorder, which causes seizures and. It has also been found in young children under the age of 2 and adults aged 65 and over. Cases of epilepsy are increasing in America. In Canada, about 300,000 Canadians have seizures, and one in 2,000 people are diagnosed with epilepsy each year.
The competitive landscape analysis of epilepsy surgery market is majorly focused on expanding the global growth of epilepsy surgery with new product launches, partnership/ agreement and merger & acquisitions which has boosted the market growth at highest pace. Besides, presence of wide range of manufacturers operating in the market offers range of surgical procedures in different applications to fulfill the required demand has further contributed healthy growth in the market.
The key players studied in market are Novartis AG, Stryker, Intuitive Surgical, Auris Health, Inc., Cephalon, Inc, Zimmer Biomet Holdings Inc., Medtronic Plc, Glaxo Smith Kline Plc, Pfizer, Inc., UCB S.A, Natus Medical Incorporated, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc. Monteris Medical and Sunovion Pharmaceuticals Inc. among others.
September 2020: CMR Surgical had launched its Versius Surgical Robotic System at Clinique du Parc Hospital in Saint-Etienne, France.
February 2020: Intuitive Surgical had acquired Orpheus Medical to develop and distribute clinical video management and analytics platforms for multiple surgical disciplines. This acquisition helped Intuitive Surgical to grow an integrated informatics platform.
Epilepsy surgery is a neurosurgical procedure that involves treating the parts of the human brain which cause seizures. The procedure is done to reduce or eliminate the possibility of seizures. By procedure type, the epilepsy surgery includes key segments of resective surgery, laser interstitial thermal therapy (LITT) and others. The resective surgery segment is likely to have growing demand in the market. The epilepsy surgery market is significantly studied for end-users like hospitals & clinics, specialty centers and others. The hospitals and clinics segment is anticipated to lead in the global market from 2022 to 2028. The global Epilepsy surgery market is studied for the following region North America, Europe, Asia-Pacific and Rest of the world (RoW).
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2022-2028 is the forecast period in the market report.
Who are the key players studied in the Epilepsy surgery market?
The key players studied in market are Novartis AG, Stryker, Intuitive Surgical, Auris Health, Inc., Cephalon, Inc, Zimmer Biomet Holdings Inc., Medtronic Plc, Glaxo Smith Kline Plc, Pfizer, Inc., UCB S.A, Natus Medical Incorporated, Teva Pharmaceutical Industries Ltd., Bausch Health Companies Inc. Monteris Medical and Sunovion Pharmaceuticals Inc. among others.
Which region is gaining majority of market share during the forecast period (2022-2028)?
North America is expected to gain major market share during the forecast period (2022-2028).
