Description
Global Epilepsy Devices Market Research Report—Forecast till 2027
Market Overview
Global Epilepsy Devices Market anticipated record a significant CAGR of 6.56% during the review period of 2020 to 2027. Epilepsy is an incurable disease caused because of neurological complications and necessarily prevalent and repeatedly rising old age population. As per the Mayo Clinic (US), epilepsy is a central nervous system (neurological) disease in which brain activity becomes abnormal, causing seizures or periods of unusual behavior, sensations, and sometimes loss of awareness. The global market growth is attributed to the increasing prevalence of epilepsy amongst the geriatric population, rising cases of brain injuries owing to road accidents, a large patient pool suffering from neurological disorders, and growing research funding in epilepsy.
The global Epilepsy devices market is expected to witness a healthy market owing to the highest market value of USD 551.2 Million in 2019. The expansion of the global epilepsy devices market is driven by a large patient pool suffering from neurological disorders. As per the WHO, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. The inherent and expanding demand for novel therapies to solve epilepsy-related problems is boosting the manufacturers to develop innovative products.
Market Segmentation
Global Epilepsy Devices Market has been categorized into Product Type, Technology, Seizure Detection and Prediction Devices, and End-Use.
In terms of product type, the global epilepsy devices market is classified into wearable devices, conventional devices, and implantable devices. The wearable devices segment is further classified into watches, bracelets, camera devices, mattress devices, anti-suffocation pillows, and others. Based on technology type, the global epilepsy devices market has been divided into vagus nerve stimulation, responsive neurostimulation, deep brain stimulation, and accelerometry.
By seizure detection and prediction devices, the global market has been segmented into electroencephalogram, intracranial EEG, surface electromyography, electrodermal activity, electrocardiography, video detection systems, implanted advisory systems, and others. Based on the end-user segment, the global epilepsy devices market has been segregated into hospitals & clinics, neurology centers, home care settings, and others.
Regional Analysis
Geographically, the Global Epilepsy Devices Market has been classified into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas is expected to lead the global epilepsy devices market due to a large number of companies operating in the region, government regulations, and the increasing healthcare expenditure in the region. The region accounted for a considerable market share of 40.3% in the global epilepsy devices market.
Europe is expected to register the second largest market of the global epilepsy devices market during the forecast period, due to the availability of reimbursement, rising geriatric population prone to epilepsy, and technological advancements in therapeutic devices. Additionally, the presence of highly developed healthcare infrastructure and the research funds from governmental organizations is expected to have a positive impact on the European epilepsy devices market.
Asia-Pacific is expected to register the fastest growing market owing to the increasing population, rising number of patients suffering from epilepsy, the growing awareness about the available treatment options, and strategic decisions by key players operating in the region. The market for epilepsy devices is increasing in the Middle East and Africa (MEA) owing to rising product launches in the region.
Major Players
The Key Players in the Global Epilepsy Devices Market are 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 Natus Medical Incorporated.
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