As per the reports on the global epilepsy devices market by MRFR, the market is expected to grow at a substantial pace of over 6.56% during the forecast timeframe from 2020 to 2027. In 2019, the market acquired a size of USD 551.2 Million.
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Epilepsy refers to the central nervous system disorder that causes the brain to act abnormally, resulting in periods or seizures of unusual sensations, behavior, and sometimes loss of alertness. Several kinds of epilepsy devices are available based on the technologies like deep brain stimulation, responsive neurostimulation, vagus nerve stimulation, and others. The growth of the epilepsy market is being driven by the factors like rising research funding in epilepsy, a large patient pool suffering from neurological disorders, increasing cases of brain injuries due to road accidents, and the growing prevalence of epilepsy amongst the geriatric population. Additionally, the strategic decisions by major players operating in the market and growing incidences of tissue damage due to surgery and brain cancer are also likely to catalyze the market’s growth over the forecasted era.
Segment Analysis
The global market for epilepsy devices is bifurcated into various segments based on prediction devices and seizure detection, end-use, technology, product type, and region.
The market is divided into implantable devices, conventional devices, and wearable devices based on product type.
The market is segmented into accelerometry, deep brain stimulation, vagus nerve stimulation, and responsive neurostimulation by technology.
Based on seizure detection and prediction devices, the market is split into implanted advisory systems, electrocardiography, surface electromyography, electroencephalogram, video detection systems, electrodermal activity, intracranial EEG, and others.
By end-use, the global market is divided into home care settings, neurology centers, hospitals & clinics, and others.
Regional Analysis
The global epilepsy devices market is studied across five major regions, including the Middle East & Africa, Asia-Pacific, Europe, North America, and South America.
The North American region is anticipated to lead the global market over the forecast timeframe, given the many companies functioning in the region. The region recorded the largest market share of over 40.3% in 2019. Additionally, the growing healthcare expenditure and government regulations in the region are also expected to contribute to the market’s growth.
The European regional market for epilepsy devices held a significant market share. The growth of the regional market is being driven by the factors like technological advancements in therapeutic devices, the growing geriatric population prone to epilepsy, and availability of reimbursement. Furthermore, the research funds from governmental organizations and the presence of highly developed healthcare infrastructure are also expected to propel the regional market’s growth over the review timeframe. The region is making made major investments to support interdisciplinary and cross-border research for rare diseases.
The Asia-Pacific region is anticipated to register substantial growth over the review timeframe due to the tactical decisions by major players functioning in the region, the increasing awareness regarding the available treatment options, the growing number of patients experiencing epilepsy, and the increasing population. For instance, Nihon Kohden (Japan) launched its wireless surge solution NK-HealthProtect, a package of patient monitors, hardware, and software developed to be used when a hospital’s emergency department encounters a rise in patients.
The Middle East and African region is expected to witness noteworthy growth over the coming years, given the rising product launches in the region.
Competitive Analysis
The list of prominent players in the global epilepsy devices market includes companies such as Natus Medical Incorporated, Neuropace, Inc, Medtronic Plc, Empatica, Inc, MC10, Nihon Kohden, Compumedics, Liva Nova (Cyberonics), Cerbomed GmbH (TVNS Technologies GmbH), Medpage Ltd. (Easylink UK), Boston Scientific Corporation, and several others.
Recent Developments
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