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Epilepsy Monitoring Devices Market research report is the comprehensive analysis on the study of HEALTHCARE industry. In this regard, it estimates current CAGR of the Epilepsy Monitoring Devices Market c. The report gives evaluations of the product and application that is expected to show the highest market growth in the HEALTHCARE industry. Moreover, the report figures out whether there will be any changes in market competition during the forecast period. It estimates the region that is foretold to create the most number of opportunities in the global market. A wide ranging Epilepsy Monitoring Devices Market report highlights exhaustive study of major market along with present and forecast market scenario with valuable business decisions.
The global epilepsy monitoring devices market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 5.6% in the forecast period of 2023 to 2030 and is expected to reach USD 1,510.51 million by 2030.
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Market Definition
Epilepsy is a central nervous system (neurological) disorder in which brain activity becomes abnormal, causing seizures or periods of unusual behavior, sensations and sometimes loss of awareness. Epileptic seizures can vary from brief and nearly undetectable periods to long periods of vigorous shaking due to abnormal electrical activity in the brain. The most common type of seizure is convulsive, which involves involuntary muscle contractions.
Tonic-clonic seizures occur with a contraction of the limbs followed by their extension and arching of the back, which lasts 10–30 seconds. Myoclonic seizures involve very brief spasms of muscles in either a few areas or all over.
Opportunities
With the advent of time, medical devices have undergone various technological changes. The advancement in disease-monitoring medical devices includes using flexible electronics such as thin flaps or skin patches for the accurate and real-time monitoring of vital signs. The validation and accuracy of the recorded data by such devices are also enhanced by the upgradation of new operating software and hardware used in those devices. The advanced flaps-like monitoring system is manufactured by various key market leaders like Neurava, Neuronostics, Epilepsy Alarms and others. Instant and precise assessment of results coupled with the noteworthy existence of these devices due to advancements; escalate the customer preference and adoption rate of such devices. Thus, innovations leading to superior product characteristics and cost-effectivity will spur global market expansion of epilepsy monitoring devices.
The innovation and advancement in technology have upgraded medical devices in all prospects, including battery life, light weightiness, advanced features like AI assistance, upgraded software, and wireless connectivity, among more. Technological advancement brings many advantages to the patient’s diagnosis and therapeutic uses with improvements in remote monitoring systems. Thus, the increased technological advancement boosts the growth of the global epilepsy monitoring devices market.
An invasive device is a complicated, painful, and risky procedure, as it involves direct intervention with the brain tissue. Therefore, healthcare professionals and patients show a high inclination towards the use of non-invasive and minimally invasive devices. With rising awareness, more patients are opting for minimally invasive or non-invasive procedures. Epilepsy monitoring devices overcome the risks and pain associated with invasive brain monitoring. Many government initiatives also focus on reducing the risks related to treatment options for brain disorders.
Restraints/Challenges
Reimbursement for all healthcare devices and services has been under downward pressure for several years. These devices also face a major roadblock in their growth due to the lack of reimbursement of these devices. The combination of wearable devices with AI, irrelevant data collection and security issues of medical devices pose a significant impact on these devices that leads to difficulty in a gain of reimbursement for such devices. The reimbursement of a device can significantly affect the ability of a provider to access a particular technology, as well as the willingness of a manufacturer to deliver it. If coverage is uncertain, the manufacturer has difficulty predicting whether an investment in new technology will yield enough returns. This lack of predictability is an apparent barrier to obtaining funding for the company. It further compromises innovation and restricts patient access to advanced technology and solutions.
Monitoring devices have become an important part of healthcare in terms of diagnosis and prognosis of chronic diseases. The increased application of monitoring devices in conditions like neurological, diabetes, obesity and cardiovascular issues, among more, makes it crucial for the healthcare facility. However, the high cost of such devices and the lack of proper reimbursement hampers the adoption rate of these medical devices. Thus, the lack of reimbursement acts as a challenge to the growth of the global epilepsy monitoring market.
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Some of the major players operating in the global epilepsy monitoring devices market are NIHON KOHDEN CORPORATION., Masimo, Apple Inc., Natus Medical Incorporated., Owlet, Neurotech, LLC, SmartMonitor, and Epilert, among others.
Recent Developments
The global epilepsy monitoring devices market is segmented into five notable segments based on product type, type, patient type, end user and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
By Product Type
On the basis of product type, the market is segmented into wearable devices, smart devices and conventional devices.
By Type
On the basis of type, the market is segmented into focal seizures & generalized seizures.
By Patient Type
On the basis of patient type, the market is segmented into pediatric, geriatric and adults.
By End User
On the basis of end users, the market is segmented into hospitals, homecare settings, neurology centres, diagnostic centres, ambulatory surgical centres & clinics and others.
By Distribution Channel
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About Data Bridge Market Research:
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