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Epilepsy is a neurological disorder in which the patient's brain activity becomes abnormal causing periods of unusual behavior or seizures, sensations, and even loss of awareness of the surroundings. Epilepsy can affect both females and males of all ethnic backgrounds, and ages. However, the seizure symptoms may vary from person to person. Some patients with epilepsy simply stare blankly for a short period of time while others may twitch their legs or arms. Treatment with surgery or medications can control the frequency of seizures in the majority of patients with epilepsy, however some people may require lifelong treatment.
COVID-19 Impact Analysis
COVID-19 is an infectious disease that originated in the Hubei province of the Wuhan city in China in December, 2019. The highly contagious disease, caused by a virus, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), is transmitted from human to human. Since its outbreak in December 2019, the disease has spread to almost 213 countries around the globe with the World Health Organization declaring it a public health emergency on March 11, 2020.
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing a shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness significant growth in the future, owing to the demand for vaccines and treatment drugs for COVID-19.
With COVID-19, the supply chain of the raw materials that are required to manufacture epilepsy treatment devices has been disrupted in many countries. In addition, the market growth of epilepsy treatment devices is also declining as the manufacturers of these devices have slowed down their production because of the pandemic. Therefore, COVID 19 is expected to have a significant impact on the epilepsy treatment devices market.
Top Impacting Factors
Key Market Trends
In May 2020, Natus Medical Inc. formed a partnership with Holberg EEG AS to distribute and develop the AutoSCORE algorithm. It helps in assisting with diagnosing epilepsy. The collaborative initiatives by the major players in the market are also going to help grow the epilepsy treatment devices market.
North America holds the major market share of the epilepsy treatment devices market. This can be attributed to the presence of many research organizations for epilepsy along with many healthcare facilities present in the region.
Europe also holds a substantial share in the epilepsy treatment devices market. The market growth is expected to propel even more owing to factors such as the rise in geriatric population, reimbursements for healthcare facilities, and technological advancements in epilepsy treatment devices.
The Asia-Pacific market for epilepsy treatment devices is anticipated to witness a slow pace in the R&D sector for epilepsy due to less investment by major players in R&D. However, a number of healthcare facilities are being set in this region which promotes the growth of the epilepsy treatment devices market.
Key Benefits of the Report
Questions Answered in the Epilepsy Treatment Devices Report
Key Market Segments
Key Market Players