Future Innovation of Epilepsy Monitoring Devices Market

Epilepsy Monitoring Devices Market

Epilepsy Monitoring Devices Market Outlook 2031

Global epilepsy monitoring devices market was valued at US$475.6 million in 2021
The global market is expected to grow at a CAGR of 4.6% from 2022 to 2031
The Global Epilepsy Monitoring Devices Market is Expected to Reach Over US$737 Million by the End of 2031

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Epilepsy Monitoring Devices Market Overview

Epilepsy is a disorder of the central nervous system, in which brain activity becomes abnormal, resulting in seizures or periods of unusual behavior, sensations, and loss of consciousness. Various conditions such as convulsions and epileptic seizures, including atonic seizures, myoclonic seizures, and tonic-clonic seizures, cause epilepsy. Rising awareness of panic attack treatment among people is driving the market demand for anti-epileptic devices. According to the WHO, epilepsy accounts for a considerable proportion of the global burden of disease; worldwide, more than 50 million people are affected by this disease. The projected proportion of the general population with active epilepsy at any given time is between 4 and 10 per 1,000 people. Players in the global epilepsy monitoring devices market are focusing on manufacturing innovative pediatric medical devices to create lucrative growth opportunities.

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Increase in incidence of head injuries, brain cancer and infections to drive demand for epilepsy monitors

According to the NCBI, brain tumors are the second most common cause of epilepsy in the elderly population, behind cerebrovascular disease, and account for between 10% and 30% of all cases of geriatric epilepsy. Patients with brain tumors often have epilepsy as one of their symptoms. In 20-40% of brain tumor patients, seizures are the first symptom they experience; in 20-40% of patients, epileptic seizures are likely to occur at some point during the course of the disease.

According to the International League Against Epilepsy (ILAE), epilepsy and acute symptomatic seizures (which are strongly linked to the date of initial infection) can both be caused by diseases of the central nervous system such as meningitis. , encephalitis and neurocysticercosis. In addition, according to the American Association of Neurological Surgeons, alcohol or drug abuse and non-compliance with prescribed anticonvulsants are the main factors likely to increase the risk of seizures in people who are prone to them. These factors are expected to drive the global demand for epilepsy monitoring devices during the forecast period.

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Genetic Factors Associated With Brain Malformation To Propel Global Market

Malformations of cortical development (MCD) contribute significantly to developmental disorders, severe epilepsy and reproductive disorders. MCD-related genes are primarily involved in neuronal migration, cell proliferation and specification, and late cortical architecture. These deformities have been linked to abnormalities in the LIS1, DCX, ARX, RELN, VLDLR, ACTB, ACTG1, TUBG1, KIF5C, KIF2A and CDK5 genes. The International League Against Epilepsy (ILAE) Commission for the Classification of Epilepsy, in accordance with the Etiologies of Epilepsy, has classified epilepsies into three categories: genetic, structural/metabolic and of unknown origin. Epilepsy in young people often has a hereditary basis. About 30% of the causes of epilepsy in humans are due to genetic factors. Genetic factors may contribute to the ensuing epileptogenesis in patients with ischemic stroke.

Increased awareness of epilepsy monitoring to increase demand for conventional devices

In terms of products, the global market has been divided into conventional devices and wearable devices. Conventional devices segment dominated the global market in 2021. Increase in epilepsy monitoring awareness initiatives to reduce cases of SUDEP (sudden death due to epilepsy) is attributed to increase in demand for conventional devices.

The wearable devices segment is expected to grow at the fastest CAGR during the forecast period. Portable epilepsy monitoring equipment such as Empatica’s Embrace not only provides round-the-clock monitoring of epileptic episodes in patients, but can also trigger an alarm by sending a message or even calling the caregiver immediately in case of emergency. This feature provides additional assistance to healthcare providers, resulting in increased demand for advanced wearables and crisis alert devices such as crisis alarms or crisis monitors.

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Significant government investment in healthcare infrastructure to strengthen the hospital and clinic segment

On the basis of end-user, the global market has been divided into hospitals and clinics, home care facilities, and others. The hospitals and clinics segment accounted for a major market share in 2021. The segment is expected to grow at a high CAGR from 2022 to 2031. Hospitals and clinics are the largest users of EEG monitoring and emergency medical services. The segment is expected to offer lucrative opportunities, especially in developing countries. Governments of various countries like China and India are investing heavily in healthcare infrastructure. Additionally, growing medical tourism and increasing demand for quality healthcare is expected to increase the hospital and clinic segment during the forecast period.

Regional outlook of the global epilepsy monitoring devices market

Europe dominated the global epilepsy monitoring devices market in 2021. The market in Europe is expected to grow at a high CAGR from 2022 to 2031 owing to the presence of a large geriatric population and increasing health expenditure. According to Epilepsy Action, 600,000 people live with epilepsy in the UK, which is almost equal to people living with autism and four times as many as those living with Parkinson’s disease. Additionally, a 2016 study by The Lancet Neurology found that the prevalence of idiopathic epilepsy in Germany was 429,396.

North America is expected to be the second largest market for epilepsy monitoring tools during the forecast period. This can be attributed to the high adoption of advanced treatment approaches and favorable reimbursement policies due to the increase in the population of patients more susceptible to epilepsy. According to the United States Bureau of Labor Statistics, the average disposable income was US$3,258 per person per month in the United States in 2018, about one-sixth higher than the Canadian average. However, personal disposable income varies greatly from state to state.

Asia-Pacific is expected to be the fastest growing region in the global epilepsy monitoring devices market over the forecast period. The market in the region is expected to grow at a high CAGR during the forecast period. Asia-Pacific is experiencing an increase in the adoption of new technologies, rising healthcare expenditures and changing dynamics in the healthcare sector. Also, increasing number of patients with epilepsy along with improving quality of medical education is driving the demand for epilepsy monitoring devices in Asia Pacific.

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Key Players Analysis of Global Epilepsy Monitoring Devices Market

The global epilepsy monitoring devices market is consolidated, with the presence of a small number of large companies. Product portfolio expansion and mergers and acquisitions are the major strategies adopted by major players. Koninklijke Philips NV, Medtronic plc, Compumedics Limited, Natus Medical Incorporated, Empatica, Inc., PulseGuard International Ltd. and Masimo are the major companies operating in the market.

Key Developments in the Global Epilepsy Monitoring Devices Market

In November 2021, Neurava, one of the biopharmaceutical startups, announced that it was developing a wearable device to monitor and alert the risk of sudden and unexpected death in epilepsy
In September 2020, Neuronostics received funding to develop its BioEP platform, an AI-based system for faster and more accurate diagnosis of epilepsy and to monitor response to treatment with antiepileptic drugs (AEDs)
In February 2018, the United States Food and Drug Administration approved a wearable mHealth device, which detects epileptic seizures and immediately alerts members of the healthcare team.

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Each of these players has been profiled in the Epilepsy Monitoring Devices Market report based on parameters such as company overview, financial overview, business strategies, product portfolio, business segments and recent developments.

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