Evolve Business Intelligence has published a research report onĀ the Global Epilepsy DevicesĀ Market, 2023ā2033.Ā The global Epilepsy DevicesĀ market is projected to exhibit a CAGR of around 5.14%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Epilepsy DevicesĀ Market: Natus Medical, Koninklijke Philips, Medtronic, Nihon Kohden, PulseGuard International Ltd., Masimo Corporation, Empatica, Inc, Abbott Laboratories, LivaNova PLC, COMPUMEDICS.
Market Highlights
The Global Epilepsy DevicesĀ market is projected to be valued at USD 0.98 Billion by 2033, recording a CAGR of around 5.14% during the forecast period. The epilepsy devices market encompasses products designed to manage and treat epilepsy, a neurological disorder characterized by recurrent seizures. Key devices in this market include neurostimulation devices (such as responsive neurostimulation and deep brain stimulation systems), wearable seizure monitors, and EEG (electroencephalogram) devices. These technologies aim to detect, predict, or control seizures, improving patients’ quality of life and reducing the frequency of seizures. The market is driven by advancements in technology, increasing prevalence of epilepsy, and growing awareness of epilepsy management options. It is influenced by factors such as innovation in device design, regulatory approvals, and the expansion of healthcare infrastructure.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the Epilepsy Devices market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers to adopt various strategies to stabilize the company.
Segmental Analysis
The global Epilepsy DevicesĀ market has been segmented based on Product Type, End User
Based on Product Type, the market is segmented based on Conventional Devices, Wearable Devices, Others. conventional devices dominate due to their established use and effectiveness in managing epilepsy through methods like neurostimulation and traditional monitoring, despite the growing interest in innovative wearable devices.
Based on End Users, the market has been divided into the Hospitals & Clinics, Home Care Settings, Others. hospitals and clinics dominate due to their advanced infrastructure and specialized medical teams, which are essential for the installation, monitoring, and maintenance of sophisticated epilepsy devices.
Regional Analysis
The Epilepsy DevicesĀ market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America holds a dominant position in the Epilepsy Devices Market. North America is anticipated to continue to dominate the market for epilepsy devices during the forecast period, holding a sizeable portion of the market share in 2021. In addition, the rising number of patients receiving neurosurgical treatments in this area supports the market’s expansion. In addition, strong purchasing power and a rise in the use of epilepsy devices are anticipated to propel market expansion. The Asia-Pacific region has indeed emerged as the fastest-growing market for the Epilepsy Devices industry. From 2022 to2030, the epilepsy devices market in Asia-Pacific is anticipated to expand at the quickest rate (CAGR). This is because there are medical equipment companies in the area and because populated countries like China and India have increasing purchasing power. Additionally, the market is expanding due to rising healthcare costs and growing usage of epilepsy gadgets including accelerometers, surface electromyography, and EEG systems.
