Market Definition
An abrupt and uncontrollable electrical disruption of the brain is known as epilepsy. It results in modifications to the degree of consciousness, movement, and behavior. Based on different severity levels, there are numerous forms of epilepsy that are common worldwide. Depending on where and how they start in the brain, many types of epilepsy exist. Most epileptic episodes last between 30 seconds and 2 minutes. However, if epilepsy persists for more than five minutes, medical assistance must be summoned. Epilepsy can develop after conditions like meningitis, a stroke, or a closed head injury. Epilepsy’s primary etiology is unknown. Computed tomography, implanted advisory systems, electromyography, magnetic resonance imaging (MRI), and EEG machines are some of the most popular epilepsy diagnostic tools. Untreated epilepsy frequently results in loss of coordination, nausea, and vomiting.
Market Outlook
The increasing incidence and prevalence of epilepsy is boosting the growth of the market during the forecast period. The WHO estimates that five million people are given epilepsy diagnoses each year in the world. According to estimates, epilepsy affects 49 out of every 100,000 people in high-income nations. This number can reach 139 per 100,000 in low- and middle-income nations. This is probably because endemic diseases like malaria and neurocysticercosis are more common, birth traumas and injuries from auto accidents occur more frequently, the medical infrastructure varies, and there are preventive health programs and accessible care options available (in high-income countries).
Factor such as the high cost of complex epilepsy monitoring procedures and devices is hindering the growth of the market. One of the main factors restricting the global market for epilepsy monitoring devices is the high cost of epilepsy monitoring operations and devices, particularly in developing nations with lax reimbursement systems. Devices for monitoring the brain are quite complicated, and the procedures required to use them are typically pricy. For instance, an EEG typically costs between USD 200 and USD 700; however, continued monitoring might increase the price to USD 3,000. Similar to that, a single MEG system costs between USD 2.5 and 3 million. Healthcare facilities find it challenging to obtain MEG devices due to the expensive cost, even in nations where high-tech medical equipment is widely used. Additionally, the price of upkeep and other related indirect costs raise the overall cost of ownership of these gadgets, restricting their affordability.
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Research Objectives
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Market Segmentation
The market can be segmented by product type, technology, end-user and region. By Product Type, the market can be divided into Wearable Devices, Conventional Devices, Implantable Devices. By Technology, the market can be divided into Vagus Nerve Stimulation, Responsiveness Neurostimulation, Deep Brain Stimulation, and Accelerometry. By End User, the market can be divided into Hospitals, Neurology Centers, and Others.By region, the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.
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Major Players
The key players in the global epilepsy monitoring devices market are Natus Medical, Inc. (US), Compumedics Limited (Australia), Empatica, Inc. (US), The Magstim Co. Ltd. (UK), Nihon Kohden Corporation (Japan), Medtronic Plc (Ireland), Masimo Corporation (US), Boston Scientific Corporation (US), Drägerwerk AG & Co. KGaA (Germany), mjn Neuroserveis S.L. (Spain), Abbott Laboratories, Inc. (US), LivAssured B.V. (Netherlands), BioSerenity (France), Aleva Neurotherapeutics (Switzerland), Medpage, Ltd. (UK), Neurosoft (Russia), Advanced Brain Monitoring (US), Lifelines Neuro Company, LLC (US), Mitsar Co., Ltd. (Russia), Rimed (US), Emotiv (US), CGX (A Cognionics Company) (US), Mindray Medical International Ltd. (China), Cadwell Industries, Inc. (US), NeuroWave Systems, Inc. (US), and MC10, Inc. (US).
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Research Scope
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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