Global Epilepsy Monitoring Device Market is anticipated to rise at a value CAGR of 6.15% over 2019-2028. According to a study published by Insure Insights on the Global Epilepsy Monitoring Device Market. Epilepsy Monitoring Device is used to monitor body movement; it includes movements like intense shaking in arm muscles or body, these monitors are essential for healthcare professionals to analyze the type of seizure and thus to provide the most suitable treatment to the patient. These devices have proved to play a significant role in minimizing the number of sudden deaths associated with seizures. The Favorable reimbursement scenario, by the government and growth in the R&D activities for neurological treatment, have boosted the overall market growth
Top Driver: The surge in the incidence of Epilepsy around the globe.
The surge in the epilepsy population throughout the world is the primary factor boosting the market growth The Epilepsy Research UK have estimated that 1 in 103 people suffer from Epilepsy every year, and there are about 6 lack people in the UK have been diagnosed with Epilepsy. Moreover, the adoption of the technologically advanced monitors for monitoring seizures, and the advent of wearable devices are propelling the market growth, the new product launches, and product approvals for epilepsy monitoring market have expanded the market revenue.
Conventional devices have obtained the highest segmental growth in the Global Epilepsy Monitoring Device Market
Based on the Product, Conventional devices segment have dominated the segmental growth due to the increase in the adoption of conventional EEG devices in hospitals and clinics, as they monitor the seizures efficiently in hospitals. The increase in the demand for Conventional epilepsy monitors is because they are the first choice of monitors to be used in the clinical trials. The favorable reimbursement for Conventional devices in EEG procedures has further accelerated the segmental growth.
In terms of the End user Hospitals and Clinics, segment have held the most remarkable growth due to the technologically advanced monitors in the hospitals. Better healthcare infrastructure in hospitals has escalated market growth. The advent of Wearable monitors has held a noteworthy growth in the homecare segment and is anticipated to rise in the higher rate in the forecast period.
North America dominated the regional market due to advanced technological advances
North America is the leader of the regional market due to the availability of technologically advanced products, and better healthcare infrastructure in the region. Moreover, the Favorable reimbursement policies by the government, an increase in the R&D activities, especially in the treatment and diagnosis of brain nervous disorders, have further contributed to the regional market growth. The rise in the incidences of Epilepsy and lifestyle habits like smoking have significantly influenced the market revenue of the region.
Product launches, Collaborations, Mergers, and Acquisition, are the major strategies of the competitors
The Players of the Global Epilepsy Monitoring Device Market is fragmented. Product launches, Collaborations, Mergers, and acquisitions, are strategies used by the competitors. The key competitors of the Global Epilepsy Monitoring Device Market are Compumedics Limited, Empatica, Inc., Masimo Corporation, Natus Medical Incorporated, Medtronic plc, Nihon Kohden Corporation, PulseGuard International Ltd. and Koninklijke Philips N.V.
Natus Medical Incorporated: Natus Medical Incorporated, is one of the key competitors of the Global Epilepsy Monitoring Device Market. For instance, in September 2017, Natus Medical had announced the acquisition of Integra LifeSciences Holdings Corporation under this acquisition Nutus Medical would handle neurosurgery business assets from Integra LifeSciences. The deal was done for USD 47.5 million. The acquisition was made by Natus Medical to enter into neurosurgery market
Masimo Corporation: Masimo Corporation is a popular competitor in the Global Epilepsy Monitoring Device Market. In January 2020, Masimo Corporation had announced the acquisition of NantHealth, Inc; they are involved in the manufacturing of the noninvasive monitoring technologies. The deal was done for USD 47.25 million. The acquisition was made by Masimo Corporation to expand its product portfolio with Connected Care solutions
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