Epilepsy Devices Market Expected to Reach $1,112.47 million by 2031

Epilepsy Devices Market Size was valued at $675.23 million in 2021, and is projected to reach $1,112.47 million by 2031, growing at a CAGR of 5.1% from 2022 to 2031. Epilepsy devices are electronic devices used for seizure detection and seizure monitoring in the condition of epilepsy. There are three technologies approved by food and drug administration (FDA), for reducing the frequency of seizures include deep brain stimulation (DBS), vagus nerve stimulation (VNS), and responsive neurostimulation (RNS). There are different types of epilepsy devices used in epilepsy monitoring: conventional and wearable devices, video detection systems, and EEG.

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Abbott Laboratories, Medtronic plc, and Boston Scientific Corporation, and technological advancement in wearable devices

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Epilepsy Devices Market Trends are rise in the geriatric population who are more susceptible to developing neurological diseases, a rise in the adoption of technologically advanced epilepsy devices, and an increase in awareness toward the benefits of using epilepsy devices in the effective diagnosis of seizures. For instance, according to National Health Service, epilepsy starts in people aged over 60 years. Furthermore, cryptogenic or stroke-related seizures are most common in elderly people.

Moreover, an increase in R&D activities in the healthcare sector and a rise in the prevalence rate of stroke and brain tumors which can cause epilepsy further drives the Epilepsy Devices Market Growth For instance, Global Stroke Fact Sheet 2019, by World Stroke Organization (WSO), states that approximately 13 million new stroke cases reported annually across the globe.

On the basis of product, the Epilepsy Devices Industry is segmented into conventional and wearable devices, EEG, electrocardiography (ECG) (ECG), surface electromyography (sEMG), video detection Systems, and others. EEG, electrocardiography (ECG), Surface electromyography (sEMG), and others. Depending on the technology, the market is fragmented into deep brain stimulation, vagus nerve stimulation, responsive neurostimulation, and accelerometry. As per end user, the market is differentiated into hospitals, clinics, and others.

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On the basis of product, the market is classified into conventional and wearable devices, EEG, electrocardiography (ECG) (ECG), surface electromyography (sEMG), video detection systems, and others. The conventional and wearable devices segment was the highest revenue contributor to the market in 2021, and is the fastest-growing segment during the forecast period, owing to the rise in the prevalence of epilepsy and the increase in the adoption of conventional and wearable devices in developed and developing countries such as U.S., Germany, and Japan.

On the basis of technology, the market is classified into deep brain stimulation, vagus nerve stimulation, responsive neurostimulation, and accelerometry. The deep brain stimulation segment dominated the market in 2021, and is the fastest-growing segment during the forecast period, owing to an increase in awareness regarding the advantages of epilepsy devices and a rise in the number of neurological surgeries for epilepsy.

On the basis of end users, the market is classified into hospitals, clinics, and others. The hospital's segment has largest Epilepsy Devices Market Share in 2021, owing to the availability of trained medical staff that helps provide better services to patients, an increase in patient admission in hospitals, and an increase in the number of hospitals. However, other segment is the fastest growing segment during the forecast period, increase in the geriatric population that is more prone to neuromuscular disease and a rise in healthcare expenditure also boosts the growth of the others segment in the epilepsy devices market.

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By product, conventional and wearable devices segment dominated the market in 2021.

On the basis of technology, deep brain stimulation segment dominated the market in 2021.

By end user, hospitals segment dominated the market in 2021.

By region, North America dominated the market in 2021 and is expected to grow at a CAGR of 4.3%.

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