Epilepsy Devices Market Analysis: Industry Trends, Opportunity and Forecast to 2027
Epilepsy Devices Market 2022
Epilepsy devices reduce seizures by sending regular, mild pulse of electric energy to the brain via the vagus nerve. It is also known as pacemaker for the brain. Epilepsy devices are implanted under the skin in the chest. A wire from the device is wound around the vagus nerve in the neck. The growth of epilepsy device is driven by the growing prevalence of epilepsy amongst geriatric population, increasing cases of brain injuries due to road accidents. However, lack of public awareness and availability of epilepsy devices in developing nations is likely to restrain the market growth.
The global Epilepsy Devices Market is expected to have a market value of USD 2,648.73 million by 2027.
Major Key Players:
Some of the key players operating in the epilepsy device market are LivaNova Plc (UK), Medtronic Plc (Ireland), Medpage Ltd (UK), Koninklijke Philips NV (Netherlands), Compumedics Limited (Australia), Natus Medical Incorporated (US), Nihon Kohden Corporation (Japan), MC10 (US), Empatica Inc (US), NeuroPace Inc (US), Boston Scientific Corporation (US).
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Segment Analysis
The global Epilepsy Devices Market Analysis is segmented into product type, technology, seizure detection and prediction devices, end user and region. The product type segment is further segmented into conventional devices, wearable devices, implantable devices, and diet. Wearable devices are further sub-segmented into watches, bracelets, mattress devices, anti-suffocation pillows, others. The diet segment is categorized into ketogenic diet, others. The technology segment is segmented into vagus nerve stimulation, deep brain stimulation, accelerometer, responsive neurostimulation. Deep brain stimulation is further bifurcated into movement disorders, epilepsy. The seizure detection and prediction devices segment are segmented into electroencephalogram, intracranial EEG, surface electromyography, electrocardiography, video detection systems, electrodermal activity, implanted advisory systems, others. The end user segment is divided into hospitals and clinics, neurology centers, home care settings, and others.
Regional Analysis
The global Epilepsy Monitoring Devices Market, based on region, has been divided into Americas, Europe, Asia-Pacific, and Middle East & Africa.
Americas dominated the global Epilepsy Devices Market Analysis owing to various factors such as developed healthcare infrastructure, favorable government policies, presence of the headquarters of major key companies in the region such as Boston Scientific Corporation and Empatica, Inc., and rising epilepsy cases. For instance, according to Healthline Media (US), in May 2019, one in 26 people in the US are diagnosed with epilepsy once in their lifetime, and 1.2% of the US population have active epilepsy, accounting for around 3.4 million people. After migraine, stroke, and Alzheimer's disease, epilepsy is the fourth most common neurological disorder in the US.
Europe accounted for a sizable portion of the global Epilepsy Devices Market Analysis. The European Epilepsy Devices Market Analysis is expected to grow during the forecast period due to favorable reimbursement policies, growing geriatric population prone to epilepsy, and technological advancements in therapeutic devices. Furthermore, the presence of highly developed healthcare infrastructure and research funds from governmental organizations are expected to have a positive impact on the European Epilepsy Devices Market Analysis.
Asia Pacific is the fastest-growing regional market for Epilepsy Devices Market Analysis as it is developing rapidly and has witnessed the emergence of many new players. Moreover, high prevalence of epilepsy in the region is boosting the market growth. According to WHO, in June 2019, nearly 80% of people who have epilepsy live in low and middle-income countries. Furthermore, according to a report by Royal Melbourne Hospital, Australia, out of the 4 billion people who reside in Asia, around 50% of the world population, about 23 million of them are suffering from epilepsy. Another report published in April 2020 by Lady Hardinge Medical College, India, stated that around 50 million individuals have epilepsy globally; one-sixth of them reside in India, accounting for around 10-12 million people.
Middle East and Africa Epilepsy Devices Market Analysis is segmented into major regions, namely, the Middle East, Africa. The market growth is driven due to the developed gulf countries. Furthermore, R&D efforts into developing effective epilepsy devices in the region are also helping the market grow. For instance, in September 2020, researchers at Ben-Gurion University, Israel, developed a novel wearable device for epilepsy prediction called Epiness. The device used machine learning to predict seizures and notify the patient through an app about an hour prior to the seizure.
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