Epilepsy Devices Market : Segmented by Product (Conventional devices, Wearable devices); By End-User (Home care settings, Clinics, Hospitals) and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Epilepsy Devices market to surpass USD 1115.3 million by 2030 from USD 587.4 million in 2020 at a CAGR of 6.62% in the coming years, i.e., 2021-30.
Epilepsy is a chronic neurological condition that produces repeated unprovoked seizures, which are characterized by undetected episodes of uncontrollable movement involving either a portion or full body. The underlying cause of epilepsy, however, remains unclear. Epilepsy can be caused by strokes, trauma, brain tumors, infections, or birth defects in certain people. Because the condition is more common in children than in adults, general practitioners are more likely to see patients with epilepsy in their everyday practice. Depending on the symptoms of epilepsy, blood tests such as complete blood count, magnetic resonance imaging (MRI), computed tomography scanning (CT), and electroencephalograms (EEG) are used to diagnose the condition. The therapeutic gadgets provide novel treatment alternatives for epilepsy.
Epilepsy Devices market is expected to project a notable CAGR of 6.62% in 2030
The increasing incidence of epilepsy among the geriatric population, rising occurrences of brain injuries due to road accidents, a huge patient pool suffering from neurological diseases, and expanding research funding in epilepsy are all contributing to the global market's growth.
Conventional devices segment to grow with the highest CAGR during 2020-30
Epilepsy Devices market is segmented by Product into Conventional devices and Wearable devices. Among these Conventional devices is expected to dominate the market during the forecast period. The extensive use of traditional EEG equipment in hospitals and clinics, the rising need for epilepsy monitoring in clinical trials, and the availability of payment for EEG treatments in developed nations all contribute to the segment's rise.
Hospitals & Clinics segment to grow with the highest CAGR during 2020-30
Epilepsy Devices market is segmented by End-User into Hospitals & Clinics, Forensic and Pharmaceutical manufacturing. Among these, the Hospitals & Clinics category had the highest revenue share in 2020. EEG monitoring and emergency medical services are most commonly used in hospitals and clinics. The market is expected to provide profitable opportunities, particularly in developing nations.
Need for continuous monitoring to rise market growth
Continuous monitoring is required in severely ill epileptic patients to detect non-convulsive episodes (NCS). The cerebral cortical function is assessed by continuous monitoring. NCS is a condition that can affect children with encephalopathy. Adults' NCS outcomes change with time, possibly worsening their health. As a result, the demand for EEG systems rises as the requirement for continuous monitoring grows.
The global epilepsy treatment devices market is anticipated to develop due to increased awareness and technical improvements in epilepsy treatment options.
Lack of healthcare facilities
The global epilepsy treatment devices market is projected to be hampered by a lack of healthcare facilities in low and middle-income countries, as well as a reluctance to accept epilepsy therapy.
Boston Scientific Corporation
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Epilepsy Devices market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific, and the Middle East, and Africa. Epilepsy Devices market in North America held the largest market share in the year 2019. In the forecast period, the Epilepsy Devices market is expected to be dominated by North America. This is primarily due to the large number of businesses operating in the region, government regulations, and rising healthcare expenditure.
Epilepsy Devices Market is further segmented by region into:
Epilepsy Devices Segments:
|Market size value in 2021||USD 626.1 million|
|Revenue forecast in 2030||USD 1115.3 million|
|Growth Rate||CAGR of 6.62% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD million and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product, End-user, and Region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
|Key companies profiled||Boston Scientific Corporation, Medpage Ltd. (Easylink UK), Cerbomed GmbH (TVNS Technologies GmbH), Liva Nova (Cyberonics), Compumedics, Nihon Kohden, MC10, Empatica Inc, Medtronic Plc, Neuropace Inc and Other Prominent Players.|
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