The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global epilepsy monitoring devices market. In addition, complete analysis of changes on the global epilepsy monitoring devices market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market.
The condition of criticalness to battle the flare-up has prompted a huge expansion in the interest for distant checking and patient commitment arrangements. The vast majority of the medical clinics/medical services offices are presently attempting to grow patient observing to homecare settings or other transitory arrangements to give ideal consideration. Coronavirus has prompted a critical flood in the interest for ventilators, and producers are at present centering their endeavors to meet the expanding need for ventilators, including other respiratory gadgets, rather than mind checking gadgets. The pandemic is probably going to hurt the cerebrum observing business especially because of the focal point of clinics in setting up COVID-19 explicit ICUs (serious consideration units) alongside the transitory suspension of creation and assembling destinations in major influenced districts across the globe.
Factors, for example, expanding patients with epilepsy problems across the world and ordinary redesigns in innovation for epilepsy observing gadgets are driving the market development. Be that as it may, the absence of mindfulness about the side effects of the problem and absence of information about different progressed gadgets may go about as the potential restrictions ruining the general market development. Besides, acquainting these gadgets with more individuals and arising economies can be a part of the development of the market.
The market is expected to have new opportunity with increasing demand for non-invasive and minimally invasive devices. As number of population often have requirement for non-invasive monitoring device for epilepsy where the epilepsy monitoring devices offer new products for monitoring. On the other side, expanding therapeutic application of epilepsy monitoring devices in various side of epilepsy condition is contributing healthy growth in the market. Likewise, high epilepsy incidence and growing healthcare demand in the emerging economies is propelling the market growth to major extend.
The one of major restraining factors for the market growth is the high cost of epilepsy monitoring devices market. The cost factor add an hurdler for the market as it significantly offers poor reimbursement policies. With the market products providing specific monitoring for epilepsy with different procedure, the cost of products ultimately leads to rise in procedure cost which is far more expensive for patient. Also, maintenance and other related expenses for the epilepsy monitoring devices is restraining the market growth.
The major growth challenge for the market is shortage of trained professional in the hospital and clinics as well as other end user. This factor add a specific challenge for the market growth as untrained professional may lack the knowledge to handle the products and conduct/ support in monitoring. Also, issues related to products approval and commercialization is anticipated to create a major challenge for the market growth over the estimated time period.
The report provides in-depth analysis of global epilepsy monitoring devices market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various epilepsy monitoring devices in various end user has led the increasing demand for market and is expected to witness the growth at a specific CAGR from 2022-2028.
The epilepsy monitoring devices market is segmented based on by product, end user and geography.
The epilepsy monitoring devices market on the basis of product is segmented into conventional devices and wearable devices. The wearable device fragment held the biggest portion of the epilepsy monitoring devices market. This is fundamental because of the rising frequency of neurological, neurodegenerative, maniacal, and rest problems, the requirement for early finding, the accessibility of imaginative convenience, and wearable locally established checking gadgets and expanding patient mindfulness. On the other hand, conventional devices is anticipated to growth at specific growth rate over the estimated time period.
The epilepsy monitoring devices market on the basis of end user is segmented into hospitals and clinics, home care settings, and others. The hospitals and clinics held the biggest shares of the epilepsy monitoring devices market owing to worldwide cerebrum checking demand. Mind checking is an intricate interaction, requiring costly and progressed gadgets and gear that are fundamentally found in medical clinics as well as hospital. Clinics additionally see a significantly bigger inflow of patients when contrasted with little facilities and opposite end clients. Moreover, mind observing gadgets represent an impressive weight regarding upkeep costs on medical services offices; clinics, more than opposite end-clients, can bear such expenses. Subsequently, mind checking gadgets are generally utilized in emergency clinics, which thus represent the biggest portion of this market section.
Geographically the global epilepsy monitoring devices market is studied for the following region North America, Europe, Asia Pacific, and Rest of the World. North America represented the biggest portion of the epilepsy monitoring devices market. This can be ascribed to the developing frequency of neurological sicknesses, a developing number of clinical preliminaries of cerebrum observing items, and the accessibility of clinical repayment in the US. On the other side, Asia Pacific region is projected to witness the growth at rapid pace over the estimated time period. The factor contributing in the market growth are rise in development of healthcare infrastructure, increasing population with epilepsy across the key countries like China, India and Japan has contributed healthy growth in the market. Also, rising geriatric population has additional demand for the market products.
The competitive landscape analysis of epilepsy monitoring devices market is certainly based range of market players operating in the healthcare market with increasing demand for epilepsy monitoring devices products. Besides, number of market players offered wide range of products for different application in various geographic locations. The market has major competitive analysis based on new product launches as well as other developments.
The key players studied in market are Compumedics Limited, Empatica, Inc., Masimo Corporation, PulseGuard International Ltd., Koninklijke Philips N.V., Medtronic plc, Natus Medical Incorporated, and Nihon Kohden Corporation among others.
March 2022: Australian medical device innovator Epiminder has raised $16m and expands the clinical trial for epilepsy monitoring device. The UMPIRE clinical trial will expand to multiple clinical sites in VIC, QLD, and NSW. Adding to that company had mentioned about epileptic cycles are being revealed and early seizure forecasting efforts have been published. Furthermore, the company is developing Minder, a cloud based, around the clock monitor that will improve the standard of care for epilepsy sufferers.
February 2022: Epitel, Inc which is digital health company developing wearable, wireless EEG monitoring platform for seizure detection had announced the closing of a $12.5 million. Adding to that the company had received the FDA clearance for its first product, a wireless and wearable EEG (brain wave monitor) sensor and remote access software known as REMI for use within hospital emergency rooms and critical care units. REMI is the first received clearance from the U.S. Food and Drug Administration in 2021.
March 2019: Masimo (US) received CE Mark approval for its next-generation SedLine brain function monitor for pediatric patients aged between one and 18 years of age; this product assesses the brain function while the patient is under anesthesia.
March 2018: Nihon Kohden (Japan) launched aireeg WEE-1200, a wireless EEG system that provides real-time data during long-term epilepsy monitoring, intensive care, and routine EEG.
Epilepsy is characterized as a neurological issue set apart by unexpected intermittent tactile aggravation, loss of cognizance, or spasms, related to unusual electrical action in the mind which can prompt seizures and other genuine entanglements. Epilepsy happens in small kids, making it hard for guardians to screen their youngsters. Medical care organizations have made gadgets that help guardians and those with epilepsy. These gadgets can follow seizures and shield against genuine results from seizures. It incorporates wristbands, watches, suffocation pads, and bedding gadgets. These gadgets are not the treatment for the issue; in any case, they are successful in giving true serenity. Epilepsy observing gadgets are utilized to analyze cerebrum anomalies utilizing electroencephalogram (EEG) gadgets. EEG is a non-obtrusive electrophysiological checking procedure used to recognize the electrical movement of the mind.
Adding to that epilepsy monitoring devices market is segmented based on by product, end user and geography. The epilepsy monitoring devices market on the basis of product is segmented into conventional devices and wearable devices. The wearable device fragment held the biggest portion of the epilepsy monitoring devices market. The epilepsy monitoring devices market on the basis of end user is segmented into hospitals & clinics, home care settings and others. The hospital held the biggest shares of the epilepsy monitoring devices market owing to worldwide cerebrum checking demand among the specific population. Geographically the global epilepsy monitoring devices market is studied for the following region North America, Europe, Asia Pacific, and Rest of the World. North America represented the biggest portion of the epilepsy monitoring devices market.
1) What are the drivers for epilepsy monitoring devices market?
The key driving factors of the market are expanding patients with epilepsy problems across the world and ordinary redesigns in innovation for epilepsy observing gadgets are driving the market development
2) Which product is expected to dominate in the market?
Wearable device is likely to have increasing demand in the market over the estimated time period.
3) Which is the leading end user segment for epilepsy monitoring devices market?
Hospitals and clinics has accounted the major market share, and is expected to witness the growth at highest pace during the forecast period.
4) Which region is gaining majority of market share during the forecast period (2021-2028)?
North America is expected to gain major market share during the forecast period (2021-2028).