Epilepsy is considered as a chronic neurological disorder which generally causes recurrent unprovoked seizures, categorized by unnoticeable episodes of involuntary movement including either a partial body part or the entire body. However, the fundamental cause of epilepsy is unknown. Some people develop epilepsy as the result of strokes, trauma, brain tumors, infections and birth defects. According to the World Health Organization (WHO), approximately 50 million of the world’s population is currently suffering from epilepsy making it one of the most common neurological disorder worldwide. The disease is found to be prevalent in the pediatric population as compared to the adult population leading to a greater probability for general practitioners to consult patients with epilepsy in daily practice. Diagnosis of epilepsy is done using blood tests which includes complete blood count, magnetic resonance imaging (MRI), computerized tomography scanning (CT), and electroencephalograms (EEG) depending upon the epilepsy symptoms. The therapeutic devices provide new options for treating epilepsy.
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Continues increase in the various neurological disorders is considered as the prime factor contributing to the growth of epilepsy treatment devices market over the forecast period. Rising awareness and technological advancements regarding the treatment options of epilepsy is expected to drive the growth of the global epilepsy treatment devices market. But, lack of awareness regarding the epilepsy disease in developing nations is expected to deter the growth of the global epilepsy treatment devices market. Non-availability of healthcare facilities in low middle-income countries coupled with the reluctance to adopt epilepsy treatment is also expected to hinder the global epilepsy treatment devices market. The above-mentioned factors are responsible for driving and hampering the growth of the global epilepsy treatment devices market.
The global market for epilepsy treatment devices is segmented on the basis of product type, end user, and geography.
Based on the product type, the global epilepsy treatment devices market is segmented into:
- Vagus Nerve Stimulator
- Responsive Neurostimulation
Based on the end user, the global epilepsy treatment devices market is segmented into:
- Ambulatory Surgical Centers
- Neurology Centers
The increasing prevalence of various neurological disorders has led to extensive research and development to develop novel epilepsy treatment devices. The vagus nerve stimulators are generally used in those patients who are unable to undergo surgery. Responsive neurostimulation for epilepsy treatment was developed after the direct electrical cortical stimulation. The RNS by NeuroPace, Inc. was the first closed-loop system developed and approved by the FDA for epilepsy treatment. The RNS was given the FDA approval in November 2013 and is the only responsive neurostimulation device approved for the clinical use. Based on the end user, the global epilepsy treatment devices market is segmented into hospitals, ambulatory surgical centers, neurology centers, and others. Amongst all the end users of epilepsy treatment devices market hospital segment is expected to hold maximum market share.
North America epilepsy treatment devices market is expected to hold maximum market share in the global epilepsy treatment devices market. This is majorly due to the presence of a large number of established research organizations, healthcare facilities and clinical researches going on in North America. Europe epilepsy treatment devices market is expected to hold the second highest market share in the global epilepsy treatment devices market due to increasing government support for healthcare expansion. Asia Pacific epilepsy treatment devices market is anticipated to witness to the slow pace in the R&D sector but a noble number of healthcare facilities being settling up in the region which promotes the growth of the overall market for epilepsy treatment devices in the region.
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Some of the key players operating in the global epilepsy treatment devices market are,
- Cerbomed GmbH
- electroCore, Inc.
- Cyberonics, Inc
- NeuroPace, Inc.
- Boston Scientific Corporation
- Medtronic plc
Epilepsy treatment devices market companies are focusing on organic and inorganic strategies in order to increase their market share in the global epilepsy treatment devices market.
- Shifting Industry dynamics
- In-depth epilepsy treatment devices market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
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