The report is titled as ‘Epilepsy Devices Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the epilepsy devices market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The epilepsy devices market is expected to grow at a significant rate in the near future.
The global epilepsy devices market was valued US$ 7.5 Bn at the end of 2020 and expected to reach at a value of US$ 13.7 Bn by 2028 with a significant CAGR of 7.9%.
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Epilepsy Devices Introduction
Epilepsy can be perceived as a chronic medical condition. Basically, it is a neurological disorder which usually causes frequent unjustifiable seizures, characterized by obscure events of spontaneous movement comprising either a partial part of the body or the entire body. On the other hand, the primary reason for epilepsy is yet unidentified. Some individuals may develop harmful diseases like epilepsy in the wake of strokes, trauma, brain tumors, infections, and birth problems. As per the World Health Organization (WHO), roughly 50 million of the global population is at present affected by epilepsy making it one of the most widely spread neurological disorders across the world.
The medical diagnosis of epilepsy is made through blood tests which comprises the entire blood count, electroencephalograms (EEG), computerized tomography scanning (CT), and magnetic resonance imaging (MRI) in response to the epilepsy symptoms. In addition to that, the numerous therapeutic devices offer new alternatives for the treatment of epilepsy.
Epilepsy Devices Market Dynamics
The massively rising prevalence of epilepsy among the population, especially in geriatric population, across the world is primarily boosting the growth of the global epilepsy devices market. By the same token, the most common cause of epilepsy among the aged masses is the increasing incidence of stroke-related or cryptogenic seizure, followed by tumors and dementia. Owing to which, the epilepsy devices market is projected to grow higher in the years to come.
On top of that, the growing number of technological advancements in the medical devices, therapeutics as well as in the entire healthcare sector, worldwide, is also playing a major role in propelling the growth of the global epilepsy devices market in the near future. In addition to that, the growing degree of awareness among the population regarding the disease and the associated medical devices and treatment process is also positively fueling the growth of the global epilepsy devices market in the forthcoming future.
However, the diagnosis and medical treatment of diseases like epilepsy might cost higher which is likely to hold back the growth of the global epilepsy devices market over the forecast period. Nevertheless, the rising funding for the research and development activities in epilepsy is yet expected to boost the growth of the global epilepsy devices market in the coming years.
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Epilepsy Devices Market Segmentation
The global epilepsy devices market is segmented on the basis of product type, end-user, and region. The product type segment of the epilepsy devices market is divided into Vagus Nerve Stimulator, Responsive Neurostimulation. Furthermore, the end-user segment is divided into Hospitals & Clinics, Ambulatory Surgical Centers, Neurology Centers, Homecare Settings, Others.
Epilepsy Devices Market Key Players
The global epilepsy devices market is dominated by Cerbomed GmbH, electroCore, Inc., Cyberonics, Inc., NeuroPace, Inc., Boston Scientific Corporation, Medtronic plc,, among others.
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