Market Highlights
A Febrile Seizure is also known as a fever fit or febrile convulsion, characterized by high body temperature. The condition is most common in children between the ages of 6 months and 5 years. Febrile seizures occur in 2%-4% of children younger than five years old.
A number of factor such as growing public awareness, technological advancements, increasing the incidence of neurological disorders, unmet medical needs, increasing government assistance, rising healthcare expenditure, improving regulatory framework, and raising funding and reimbursement are propelling the growth of the global febrile seizures market.
However, challenges in the research and development, side-effects of treatment, the presence of misbranded and spurious drugs, and poor healthcare system in low and middle-income countries may hamper the growth of the market.
It is estimated that the febrile seizures market is expected to grow at a CAGR 5.5% during the forecast period of 2017-2023.
Regional Analysis
The Americas dominate the febrile seizures market owing to the rising awareness among people, and high healthcare expenditure. According to the Centers for Disease Control and Prevention in 2015, the total health expenditure in the United States was reported to be USD 3.2 trillion and hospital care accounted for a share of 32.3%.
Europe holds the second position in the febrile seizures market. It is expected that the support provided by the government bodies for research & development and improvement in reimbursement policies in the healthcare is likely to drive the European market growth.
The Asia Pacific is the fastest growing febrile seizures market owing to a huge patient pool and developing healthcare technology. Healthcare expenditure is also improving in various Asia Pacific countries. According to the Australian Institute of Health and Welfare in the years 2015-2016, the total health expenditure was USD 170.4 billion, which is 3.6% higher than the expenditure of 2014-2015.
The Middle East & Africa holds the least market share of the global market due to lack of technical knowledge and poor medical facilities.
Segmentation
The global febrile seizures market is segmented on the basis of type, diagnosis, treatment, and distribution channels.
On the basis of the type, the market is classified as simple febrile seizure and complex febrile seizure.
On the basis of the diagnosis, the market is classified as physical examination, laboratory tests, electroencephalogram (EEG), and others. The laboratory tests are further segmented into blood tests, urine tests, and lumbar puncture.
On the basis of the treatment, the market is classified as home management, antipyretic medication, and others.
On the basis of the distribution channel, the market is segmented into hospitals, clinics, diagnostic centers, drug stores, pharmacies, and others.
Key Players
Some of the key players in the global febrile seizures market are Sanofi, Cardinal Health, Merck, Pfizer, Johnson & Johnson, Abbott Laboratories, GlaxoSmithKline plc, Cephalon Inc., Shire, and UCB S.A, and others.
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