Epilepsy Devices Market Overview
Based on End Users, the global epilepsy devices industry has been segmented into Hospitals and Clinics, Neurology Centers
Another key factor that is said to aid the growth of the global epilepsy devices market is the increasing demand for continuous/ real-time monitoring. The wearable devices section of the epilepsy monitoring devices market is thus expected to reach a value of USD 390 Million by 2027, representing a USD 160 Million incremental potentials during the forecast period.
Epilepsy has gained significant traction as a non-communicable neurological condition that affects people from all age groups and culminates in recurrent seizures, which are basically brief episodes of involuntary movement. An epilepsy device is a form of electronic seizure device that can detect seizures and alert caretakers when the patient is having a seizure. The epilepsy devices Epilepsy Devices Market Size was valued at USD 1.3 billion in 2021 and is projected to grow from USD 1.4 Billion in 2022 to USD 2.6 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 9.20% during the forecast period (2022 - 2030).
Even though there is no instantaneous way of stopping a seizure, rapid advancements in wearable epileptic device technology have gained substantial popularity in recent years. Wearable epileptic gadgets warn patients ahead of time if they are at risk of having a seizure, which is a crucial element that will certainly influence their acceptance in the near future. Significant technological advancements targeted at enhancing the accuracy of epilepsy monitoring systems have created a slew of prospects for epilepsy monitoring device makers. Due to technological developments and quick regulatory approvals, wearable epilepsy devices are likely to become more popular throughout the assessment period.
Regional Analysis
The international epilepsy devices market has been segmented into four regions: the Americas, Europe, Asia-Pacific, and the Middle East, and Africa. Owing to the vast number of businesses operating in the region, the American region is anticipated to dominate the market. North America held a significant market share of 40.3% in market in 2019. Government laws and the region's burgeoning healthcare expenditure are also contributors to this significant market share.
Europe accounted for a sizable portion of the worldwide epilepsy device market. Due to reimbursement accessibility, an increasing geriatric population prone to epilepsy, and technical improvements in therapeutic devices, market is likely to expand rapidly. Due to the rise in product introductions, coupled with versatile government subsidies, in the Middle East and Africa (MEA), the market for epilepsy devices is surging.
The Asia-Pacific area's rapid expansion is attributed to the rising population, an increase in the number of epilepsy patients, increased awareness of various treatment choices, and strategic decisions made by important firms operating in the region. For example, The NK-HealthProtect wireless surge solution from Nihon Kohden (Japan) is a mix of patient monitors, software, and hardware that can be used when a hospital's intensive care unit experiences a patient inflow.
Market Segmentation
Global Epilepsy Devices Market segmentation is based on product type, technology, seizure detection, and prediction devices, and end use. The global epilepsy devices market has been divided into electroencephalogram, surface electromyography, electrocardiography, video detection systems, electrodermal activity, intracranial EEG, implanted advisory systems, and others based on seizure detection and prediction devices. Mattress devices, camera devices, anti-suffocation pillows, wristbands, and watches are all part of the wearable devices category. On the basis of end users, the market has been classified as hospitals and clinics, home care settings, neurology centers, and others. On the basis of product type, the market is segmented into conventional devices, wearable devices, and implantable devices. Deep brain stimulation, responsive neurostimulation, vagus nerve stimulation, and accelerometry are the four technology segments that make up the market.
Competitive Analysis
global epilepsy devices market Players are Boston Scientific Corporation, Cerbomed GmbH (TVNS Technologies GmbH), Medpage Ltd. (Easylink UK), Nihon Kohden, Compumedics, MC10, Medtronic Plc, Empatica, Natus Medical Inc. and Neurospace.
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