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HEALTHCARE & PHARMACEUTICAL

Epilepsy Monitoring Devices Market Analysis by Product (Conventional, Wearable, and Implantable Devices); by Technology (Vagus Nerve, Responsive Neuro, and Deep Brain Stimulations, and Accelerometry); by Epilepsy Detection & Prediction Devices (Electroencephalogram (EEG), Intracranial EEG, Surface Electromyography, Electrodermal Activity, Electrocardiography) and by End-User (Hospitals & Clinics, and Home Care Settings) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • Compumedics Limited secured major magnetoencephalography (MEG) brain imaging contract in China enhancing its entry into the Chinese neuroscience market.
  • Empatica Inc. developed ‘Embrace2’, which has received clearance by the FDA (Food and Drug Administration) as a medical device. It is a wearable device to detect possible tonic-clonic seizures and communicate it to ‘Alert’ on its paired mobile device. It can be worn by adults and children above 6 years.

Global Epilepsy Monitoring Devices Market Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~5%

Base Year Market Size (2022)

 ~ USD 489 Million

Forecast Year Market Size (2033)

~ USD 620 Million

The global epilepsy monitoring devices market is estimated to garner a revenue of USD 620 Million by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of USD 489 Million in the year 2022. Moreover, an increase in the adoption of advanced treatment procedures and favorable reimbursement policies with an increase in the population. The American healthcare expenditure proposed Medicare for All Act (MAA), and as per the estimations, this would save about 10% of the national healthcare expenditure, more than USD 400 billion.

Epilepsy-Monitoring-Devices-Market-Size

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Additionally, upsurge in health expenditure, and changing dynamics in the healthcare sector. Also, the rise in the number of epilepsy patients and improvement in medical education. The number of people with epilepsy worldwide includes about 50 million.

Global Epilepsy Monitoring Devices Market: Growth Drivers and Challenges

Growth Drivers

  • Surge in Geriatric PopulationThe number of old age people with 65 and above was 54.1 million in 2019 in the U.S.

  • Increase Research and Development Activities – The R&D expenditure in 2019 by the pharmaceutical industry was USD 83 billion.

  • Growing Epilepsy Cases – To reduce the number of cases and deaths of epilepsy and seizures, manufacturers are more focused on epilepsy monitoring devices. These devices help to detect, predict and monitor the disease thereby reducing or preventing the severity and progression. More than 1% of the population in the U.S suffered from epilepsy in 2021.
  • Rise in Brain Injuries – The number of brain injury deaths in 2020, in the U.S, was over 64,000.
  • Increase in Genetic Brain MalformationAbout 1 in 44 children aged 3-17 years have autism, a developmental disability in 2018.

Challenges

  • Lack of Knowledge about Medical Devices

  • Diagnostic Challenges

  • Stringent Regulations

The global epilepsy monitoring devices market is segmented and analyzed for demand and supply by end-user into hospitals & clinics and home care settings. Out of which, the hospitals & clinics are anticipated to hold the largest market size by the end of 2033 owing to an increase in government investment in healthcare infrastructure to develop the hospitals and clinics segment. The national health expenditure grew from 9.7% i.e., to 4.1 trillion in 2020.

Major Macro-Economic Indicators Impacting the Market Growth

Global-Healthcare-Expenditure

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5,355.79, which grew from USD 3,515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Epilepsy Monitoring Devices Market Regional Synopsis

Regionally, the global epilepsy monitoring devices market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in Europe region is projected to hold the largest market share by the end of 2033 on the back of the rising geriatric population and an increase in healthcare expenditure. Also, the rise in road accidents and sports is estimated to fuel market growth. The number of deaths in road crashes in 2021 was estimated to be 19,000.

Epilepsy-Monitoring-Devices-Market

The global epilepsy monitoring devices market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global epilepsy monitoring devices market includes the following segments:

 

By Product

  • Conventional
  • Wearable
  • Implantable Devices

 

By Technology

  • Vagus Nerve
  • Responsive Neuro
  • Deep Brain Stimulations
  • Accelerometry

 

By Epilepsy Detection & Prediction Devices

  • Electroencephalogram (EEG)
  • Intracranial EEG
  • Surface Electromyography
  • Electrodermal Activity
  • Electrocardiography

By End-User

  • Hospitals & Clinics
  • Home Care Settings

Top Featured Companies Dominating the Global Epilepsy Monitoring Devices Market

  • Natus Medical Incorporated

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Compumedics Limited
  • Empatica Inc.
  • Magstim, Inc.
  • Nihon Kohden Corporation
  • Medtronic Plc
  • Boston Scientific Corporation
  • Masimo Corporation
  • Drägerwerk AG & Co. KGaA
  • Abbott Laboratories

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