Demand for surgical proceduresare expected to boost the growth of the global epilepsy surgery market at a CAGR of 5.72% during the forecast period 2021 to 2027
The epilepsy surgery market is expected to register a CAGR of 5.72% during the forecast period of 2021 to 2027.
the following companies as the key players in the global epilepsy surgery market—Stryker(US),Zimmer Biomet Holdings Inc.(US),Auris Health, Inc. (Hansen Medical, Inc.) (US), Intuitive Surgical (US),Medtronic Plc (Mazor Robotics) (Ireland), Cephalon, Inc. (US), CMR Surgical(UK), Natus Medical Incorporated(US), Livanova Plc (UK), and Monteris Medical(US).
Market Highlights
The global epilepsy surgery market is expected to register a CAGR of 5.72% during the forecast period and is expected to hit USD1,402.32 million by 2027.
The growth of the global epilepsy surgery market is attributed to the increasing prevalence of neurological disorders leading to extensive R&D on epilepsy treatment devices and increasing cases of brain injuries due to road accidents. Furthermore, advances in robot-assisted surgery and an increase in the geriatric population are likely to drive market expansion.
The collaborations of major players with regional players increase the lucrativeness of this market. Another factor propelling the growth of the epilepsy surgery market includes an increasing number of traumatic brain injuries leading to seizures and growing demand for surgical treatment of epilepsy. Furthermore, the emerging markets are anticipated to offer potential growth opportunities for global players operating in the market due to technological advancements, the growing elderly population prone to seizure disorders, and government initiatives in undertaking research studies focused on epilepsy surgery.
Segment Analysis
The global epilepsy surgery market has been divided based on procedure type and end user.
Based on procedure type, the market is segregated into resective surgery, laser interstitial thermal therapy (LITT), and others.
Based on end user,the epilepsy surgery market has been divided into hospitals & clinics, specialty centers, and others.
Regional Analysis
The global epilepsy surgery market has been studied in five regions, namely, the Americas, Europe, Asia-Pacific, and the Middle East &Africa. The increasing prevalence of neurological disorders leading to extensive R&D on epilepsy treatment devices, increasing cases of brain injuries due to road accidents, and advances in robot-assisted surgery are the common factors driving the growth of the global epilepsy surgery market. According to the WHO, around 50 million people around the globe have epilepsy, making it one of the most common neurological diseases worldwide. It is also estimated that about70% of people living with epilepsy could live seizure-free with the help of proper diagnosis and treatment.
Americas dominated the global epilepsy surgery market owing to various factors, such as the availability of well-established healthcare facilities, the high prevalence of neurological disorders, and the increasing incidence of epilepsy. North America is divided into the US and Canada.With increasing investment in R&D, the production of successful epilepsy medications, and a high prevalence of epilepsy, Europe has also evolved as a prominent market for epilepsy surgery.
The Asia-Pacific region offers lucrative opportunities for players in the epilepsy surgery market, owing to the presence of a large geriatric population, governmental initiatives to improve the healthcare sector, an increase in R&D activities, and an increase in epilepsy incidence in the region.The Middle East and Africa epilepsy surgery market is segmented into major regions, namely the Middle East, Africa, and Latin America. Factors such as the increasing incidence of epilepsy, the rise in the geriatric population, and the increasing disposable income of people in the region are driving the epilepsy surgery market.
Key Findings of the Study
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- The global epilepsy surgery market was valued at USD 45 million in 2020 and is projected to register a CAGR of 5.72% during the assessment period.
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- The Americas accounted for the largest share of the global market due to the well-developed healthcare sector, rising prevalence and incidence rate of infectious diseases, and the presence of leading players.
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- Based on procedure type, resective surgery accounted for a market share of 33.9% in 2020.
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- Based on end user, the hospitals & clinics segment is expected to register the fastest growth at a CAGR of 6.56% during the forecast period.
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- The key market players are Medtronic Plc, Zimmer Biomet Holdings Inc., Stryker, Natus Medical Incorporated, and LivaNova.