Thailand population

Epilepsy Monitoring Devices Market Growing Geriatric Population to Drive Growth 2030 – The Bollywood Ticket

The description

The global epilepsy monitoring devices market size is expected to grow at a CAGR of 6.6% from 2022 to 2030. Additionally, the market is witnessing high growth in the market share of 61.5 billion USD in 2021 for 96.6 billion USD by 2030. The epilepsy monitor is used to diagnose brain abnormalities through different devices. According to the Centers for Disease Control and Prevention, approximately 3.4 million Americans, including 470,000 children, live with epilepsy. Additionally, according to the National Institute of Health, about 35 percent do not respond to medications to control seizures. Many devices have been released over the past decades, such as the Inspyre™ Wearable mHealth SmartWatch for the Apple Watch. mHealth wearable is used to monitor epileptic seizures and alert healthcare teams. This improves patient safety.

Additionally, rising epilepsy awareness and increased usage of monitoring devices are fueling the growth of the market. However, diagnostic challenges are hampering the global epilepsy monitoring devices market. Accurately diagnosing epilepsy is difficult because clinicians rarely have the opportunity to observe seizures, and there are many types of seizures and epileptic syndromes with different appearances. Additionally, technological advancements in monitoring devices provide market players with opportunities for expansion. People who have infrequent seizures or who have more than one type of seizure may benefit from better seizure visualization through digital cameras with video capabilities and home video monitoring.

Global Epilepsy Monitoring Devices Market Definition

Epilepsy monitoring device is a specialized unit in the hospital where a patient is admitted for 3-5 days to monitor brain activity using EEG and streaming video.

The increasing preference for ambulatory health care, the increasing incidence and prevalence of epilepsy, the growing demand for continuous monitoring, the increased use of wearable devices, and the growing awareness of neurodegenerative diseases such as epilepsy are all driving the growth of epilepsy monitoring devices market.

Get Full Sample PDF Copy of Report: https://www.marketstatsville.com/request-sample/epilepsy-monitoring-device-market

covid19 Global Epilepsy Monitoring Devices Market Impact

The impact of the COVID 19 pandemic on the epilepsy monitoring device manufacturing industries is expected to be severely impacted as more countries resort to lockdowns to control the spread of the disease. As of April 16, 2020, the number of COVID 19 disease cases has exceeded 2 million and resulted in 127,000 deaths. The pandemic has caused the confinement of about a third of the population. About 184 countries are affected by the COVID 19 epidemic. The main reason for the spread of the disease is the interconnected global economy. However, the pandemic has caused an exponential demand for healthcare products such as personal protective equipment (PPE), ventilators and diagnostic devices. On the other hand, the sale of companies whose products rely heavily on optional and non-essential procedures should be penalized in a censored way. Many such companies have either withdrawn or revised their financial guidelines for 2020.

Global Epilepsy Monitoring Devices Market Dynamics

Drivers: Increase in cases of epilepsy worldwide

Epilepsy is a chronic, non-communicable brain disease that affects people of all ages. According to the WHO, epilepsy is one of the common neurological diseases in the world. The number of epileptic patients is around 50 million worldwide. According to WHO estimates, the proportion of patients with active epilepsy ranges from 4 to 10 per 1000 people at any given time. In high-income countries, the proportion is lower, with around 48 in 100,000 people diagnosed with epilepsy each year. In low-income countries, the proportion is high, estimated at around 139 per 100,000. Such a high prevalence of the disease creates a major burden in terms of disability, stigma, mortality, comorbidities and health-related costs. seizures, increasing the demand for epilepsy monitoring devices.

Challenges: Diagnostic Challenges Hamper Global Epilepsy Monitoring Devices Market

On referral to epilepsy centers, up to 40% of patients diagnosed with refractory epilepsy have been misdiagnosed because clinicians rarely have the opportunity to observe seizures and because there are many types different seizures and epilepsy syndromes with different appearances, accurately diagnosing epilepsy can be difficult. Epilepsy is usually diagnosed based on a patient’s self-report of seizures or a report of seizures from a family member, as well as the patient’s medical history. This is complicated by the fact that several medical conditions that are not epilepsy can resemble seizures. Diagnostic tests provide relevant information, usually starting with the electroencephalogram (EEG). However, since an EEG typically lasts 20 to 45 minutes, it will rarely coincide with a seizure. Also, in about half of people with epilepsy, the initial EEG may not show signs of seizures. More work is needed to develop drugs or other treatments to reduce the burden of uncontrolled seizures.

Inquire Before Purchase @: https://www.marketstatsville.com/buy-now/epilepsy-monitoring-device-market?opt=2950

Scope of the Global Epilepsy Monitoring Devices Market

The study categorizes the Epilepsy Monitoring Devices market based on product and end-users regionally and globally.

By Product Perspective (Sales, billion USD, 20172030)

  • Conventional devices
  • Portable devices
    • Deep brain stimulation devices
    • Monitoring devices
      • EEG devices
        • Standard EEG
        • Video EEG
        • Others/ambulatory EEG

      • EMG devices
      • MEG Peripherals
      • Other Monitoring Devices

From end-user perspectives (Sales, billion USD, 20172030)

  • Clinics
  • Hospitals
  • Home care settings
  • Other end users

Outlook by region (Sales, billion USD, 20172030)

  • North America (United States, Canada, Mexico)
  • South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
  • Europe (Germany, Italy, France, United Kingdom, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, Netherlands, Norway, Sweden, Denmark, Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, Philippines, Singapore, Australia and New Zealand, Rest of Asia Pacific)
  • The Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa, North Africa, Rest of MEA)

Request for Full TOC and Figures & Graphs @ https://www.marketstatsville.com/table-of-content/epilepsy-monitoring-device-market

The segment of conventional devices expected to account for the largest market share, by product

On the basis of product, the global epilepsy monitoring devices market is segmented into conventional devices and wearable devices. In 2021, the conventional device segment accounted for the largest market share of 80.1% in the Global Epilepsy Monitoring Devices Market. Conventional epilepsy monitoring devices are mainly used in hospital settings and consist of hardware and software solutions that allow doctors to understand the results effectively. The growth of this segment was also influenced by the adoption of conventional devices in clinics, demand for epilepsy monitoring in clinical trials, and reimbursement of EEG procedures in developed countries. The high application of these devices in critical care is a major factor contributing to its high revenue share. Additionally, significant technological advancements aimed at improving the accuracy of conventional epilepsy monitoring devices have presented lucrative opportunities for manufacturers operating in the epilepsy monitoring devices market. The growing awareness of mental health and the growth of the target patient population is one of the most important factors that will drive the growth of these devices.

Asia Pacific represents the highest CAGR over the forecast period

On the basis of region, the global epilepsy monitoring devices market has been segmented into North America, AsiaPacific, Europe, South America, Middle East and Africa. Asia-Pacific is expected to grow at the highest CAGR of 7.51% during the forecast period due to rising cases of epilepsy as well as untapped opportunities in countries like India and China . The epilepsy monitoring devices market in Asia Pacific is growing rapidly due to the growing number of epilepsy patients in the region. According to the WHO, epilepsy affects approximately 1% of the population in the Southeast Asia region alone; thus, there are more than 15 million people with epilepsy in the region.

Countries like Japan and the Republic of Korea have significant aging populations in the Asia-Pacific region. More than a third of the population is expected to be 60 or older by 2050. By contrast, in North and Central Asia, one in four people will be 60 or older. The high possibility of epilepsy among the population and the high spending capacity for healthcare needs are expected to propel the demand for epilepsy monitoring devices in Asian countries such as Japan, ROK and China. ‘Australia.

Request for Report Description @ https://www.marketstatsville.com/epilepsy-monitoring-device-market

Main market players

The major market players are Medtronic plc, Koninklijke Philips NV, Natus Medical Incorporated, Nihon Kohden Corporation, LivaNova, PLC, St. Jude Medical, Inc., Empatica Inc., and Boston Scientific Corporation. Each company follows its own business strategy to achieve the maximum market share.

RECENT DEVELOPMENTS

  • In February 2021, BioSerenity and Premier Inc. signed a contract in which the former would serve approximately 4,000 U.S. hospitals and 175,000 other vendors as Premier’s contract supplier.
  • In January 2021, disposable EEG electrodes were introduced by Nihon Kohden to help prevent cross-contamination between patients and healthcare workers while preserving high quality EEG signals.
  • In July 2020, Magstim acquired EGI, a subsidiary of Philips, expanding its product line with high-density EEG solutions. This acquisition helped the company close the loop on the development of a complete non-invasive neuromodulation system.
  • In October 2019, Medtronic plc launched its advanced patient programmer technology for deep brain stimulation (DBS) therapy.