The Global Epilepsy Monitoring Devices Market size is estimated to reach $601.9 Million by 2026, growing at a CAGR of 4.8% over the forecast period of 2021-2026.
This market is expected to witness significant growth due to the increasing prevalence of epilepsy, technological advancements in monitoring devices, increasing demand for home-based monitoring devices, and growing awareness related to the benefits of using monitoring devices.
Epilepsy is a neurological disorder that affects a person's central nervous system and is characterized by recurrent seizures. The incidence of epilepsy is increasing due to factors such as genetic mutations, head injuries, stroke, brain tumors, and infections. The use of EEG-based monitoring devices helps in detecting seizures, determining their type, and assessing their severity. Moreover, the use of these devices helps in the diagnosis, treatment, and prognosis of the disease.
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Market Segmentation:
The market is segmented based on product type, end user, and region. On the basis of product type, the market is divided into EEG-based devices, video EEG systems, ambulatory EEG systems, and other monitoring devices. EEG-based devices accounted for the largest market share in 2019, due to their cost-effectiveness, portability, and accuracy. On the basis of end user, the market is divided into hospitals and clinics, homecare settings, and other end users. Hospitals and clinics accounted for the largest share in the market in 2019, due to the increasing preference for inpatient care.
Geographically, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for the largest share in the market in 2019. This can be attributed to the increasing prevalence of epilepsy, technological advancements, and the presence of major players in the region.
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Major Player:
The major players in the market are Philips Healthcare, Natus Medical Incorporated, Nihon Kohden Corporation, Medtronic, Compumedics Limited, Cadwell Laboratories, Inc., Neuro Virtual Corporation, Neuropace, Inc., Neurosoft Company, and others. These players are focused on launching innovative products and strategically expanding their presence in the market. For instance, in April 2020, Natus Medical Incorporated launched a new remote monitoring device, NicoletOne. This device is a single-channel EEG system and is designed to be used in homecare settings.
Overall, the increasing prevalence of epilepsy and technological advancements in monitoring devices are expected to drive the growth of the market over the forecast period.
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TOC:
Chapter 1 Epilepsy Monitoring Devices Market Overview
1.1 Product Overview and Scope of Epilepsy Monitoring Devices
1.2 Epilepsy Monitoring Devices Market Segmentation by Type
1.2.1 Global Production Market Share of Epilepsy Monitoring Devices by Type in 2020
1.2.1 Type 1
1.2.2 Type 2
1.2.3 Type 3
TOC Continued…
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