Epilepsy Monitoring Devices Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

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The global epilepsy monitoring devices market is estimated to expand at a compounded annual growth rate (CAGR) of 5.6% over the forecast period of 2022-2030.

Epilepsy is a dangerous non-communicable chronic brain disease, marked by unexpected recurrent sensory disturbance and loss of consciousness, associated with abnormal electrical activity in the brain. Epilepsy usually leads to seizures and other severe complications and can affect people of all ages.

Epilepsy monitoring devices are utilized for diagnosing brain abnormalities by making use of electroencephalogram (EEG) devices. These devices are capable of tracking seizures and protecting against critical side effects from seizures, and offering crucial insights to professionals based on which, they can offer the most suitable treatment to the patients. Some of the epilepsy monitoring devices include watches, anti-suffocation pillows, mattress devices and bracelets.

GROWTH DRIVERS:

Factors such as the rapidly increasing prevalence of epilepsy cases around the world; the surging preference for ambulatory healthcare; the rising demand for continuous monitoring to detect non-convulsive seizures (NCS); the soaring awareness regarding neurodegenerative diseases including epilepsy; the enhancing potentialities of epilepsy monitoring devices and the escalating funding for research and development activities, particularly in matured regions are primarily driving the growth of the global epilepsy monitoring devices market.


Additionally, the healthcare industry across the globe is witnessing a colossal number of technological developments in the last few years. One recent revolutionary development has been the advent of wearable devices which can detect seizures in epileptic patients and notify them about the possibility of a seizure in advance. The popularity of these devices is surging at a rapid rate across the globe. Fast clearances from regulatory bodies and technological advancements in these wearable devices is further boosting their adoption. These advances in technology are creating ample opportunities of growth for the global epilepsy monitoring devices market and are expected to significantly bode well for the overall market over the period of forecast, i.e., 2022-2030.

Moreover, the number of investments and initiatives from the governments of different regions and private organizations emphasized on the development of novel and innovative devices is rapidly escalating across the globe. This is leading to an increased integration of technology and biological science. An example of this could be the launch of the BRAIN initiative in the U.S. in April 2013 to promote research & development activities pertaining to the brain's functioning and for the development of non-invasive neural intervention devices for improving reasoning and problem-solving. Such initiatives coupled with growing investments are expected to bring about tremendous growth in the global epilepsy monitoring devices market in the upcoming years.

Furthermore, other factors such as the proliferating awareness regarding the complex epilepsy detection process; the rising adoption of wrist-worn epilepsy monitoring devices; the increasing inclination of manufacturers toward offering solutions that are capable of reducing the number of sudden unexpected deaths in epilepsy cases and the growing number of product launches and companies engaged in the development of efficient epilepsy monitoring devices are also expected to augment the growth of the global epilepsy monitoring devices market during the forecast period.

However, factors such as the unavailability of these devices in the underdeveloped regions, the huge cost of complex epilepsy monitoring procedures and devices, and the presence of unfavorable reimbursement policies are expected to hinder the growth of the epilepsy monitoring devices market to a certain extent during the forecast period.

EPILEPSY MONITORING DEVICES MARKET SEGMENTATION:

By Product:

·         Wearable Devices

·         Conventional Devices

o    Deep Brain Stimulation Devices

o    Monitoring Devices

§  EEG Devices

§  Standard EEG

§  Video EEG

§  Others/Ambulatory EEG

§  EMG Devices

§  MEG Devices

§  Other Monitoring Devices

 

By End User:

·         Hospitals

·         Ambulatory Surgery Centres & Clinics

·         Neurology Centres

·         Diagnostic Centres

·         Home Care Settings

 

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

 

Based on product, the conventional devices segment led the global epilepsy monitoring devices market in 2021. The segment is anticipated to further retain its dominance in the market during the forecast period. The factors attributable to the growth include: the rapidly surging cases and awareness of epilepsy and related disorders among the population, the increasing global adoption of conventional devices in hospitals and clinics and the presence of favorable reimbursements policies in the healthcare facilities in the developed nations. The monitoring devices sub-segment accounted for the largest share in the global epilepsy monitoring devices market in 2021. The escalating demand for continuous monitoring and minimally invasive and non-invasive devices and their application in other areas of neurology are the key factors driving the segment’s growth.

 

Based on end user, the hospitals segment dominated the global epilepsy monitoring devices market in 2021 followed by the clinics segment. The segment is anticipated to maintain its lead during the forecast period on account of the increasing demand for diagnosis of various diseases from the hospitals.

 

REGIONAL OUTLOOK:

The North American region accounted for the largest share in the global epilepsy monitoring devices market in 2021 followed by Europe. The region is projected to maintain its lead over the forecast period of 2022-2030. Factors such as the high prevalence of neurological disorders, the increasing number of clinical trials for epilepsy monitoring devices and testing facilities, the surging consumer base in the US, the growing R&D investment and activities from the government and private companies for the use of wearable epilepsy monitoring devices and the presence of well-established healthcare facilities & infrastructure and epilepsy monitoring device providers in the region. Moreover, the increasing expenditure on healthcare and the rate of diagnosis in the region is also predicted to significantly contribute towards the growth of the market in the region in the upcoming years. The U.S. and Canada are the major contributors to the region.

 

The Asia Pacific region is projected to emerge as the fastest-growing regional market for epilepsy monitoring devices market during the forecast period. The growth of the market in the region can be attributed to the presence of a huge target patient population; the surging awareness about epilepsy among people; the growing medical tourism and the escalating adoption of new epilepsy monitoring technologies in the region. Furthermore, the increasing implementation of new ICT guidelines, the rising healthcare expenditure in the developing nations and the increasing financial support from manufacturers and distributors in the region is also anticipated to augment the growth of the epilepsy monitoring devices market in the region during the forecast period. Countries such as India, Australia & New Zealand, China, and Japan are the major contributors to the growth of the market in the region.

 

KEY COMPANIES IN EPILEPSY MONITORING DEVICES MARKET:

·         Abbott Laboratories Inc.

·         LivAssured B.V.

·         BioSerenity

·         Aleva Neurotherapeutics

·         Advanced Brain Monitoring

·         Lifelines Neuro Company, LLC 

·         Mindray Medical International Ltd.

·         Cadwell Industries Inc.

·         Natus Medical Incorporated

·         Compumedics Limited

·         Empatica Inc.

·         Nihon Kohden Corporation

·         Medtronic Plc

·         Masimo Corporation

·         Boston Scientific Corporation

·         Drägerwerk AG & Co. KGaA

·         NeuroWave Systems Inc.

·         PulseGuard International Ltd.

·         Koninklijke Philips N.V

·         Other Players

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