Epilepsy Monitoring Devices Market (Product: Conventional Devices and Wearable Devices)- Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Epilepsy Monitoring Devices market size was valued at USD 575.6 million in 2021 and is predicted to hit USD 1.2 billion by 2030 with a registered CAGR of 5.6% during the forecast period 2022 to 2030.

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

Report Scope of the Epilepsy Monitoring Devices Market

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 older population, behind cerebrovascular illness, and account for between 10% and 30% of all cases of geriatric epilepsy. Patients with brain tumors frequently have epilepsy as one of their symptoms. In 20% to 40% of brain tumor patients, seizures are the first symptom they experience; in 20% to 40% of patients, epileptic seizures are likely to occur at some point over the course of the disease.

According to the International League Against Epilepsy (ILAE), epilepsy and acute symptomatic seizures (which are strongly tied to the date of the initial infection) can both be brought on by diseases in the central nervous system such as meningitis, encephalitis, and neurocysticercosis. Furthermore, according to the American Association of Neurological Surgeons, alcohol or drug misuse and failure to take prescribed anticonvulsant medicine are the primary factors likely to increase the risk of seizures in persons who are prone to them. These factors are expected to drive the global demand for epilepsy monitoring devices during the forecast period.

Genetic Factors Associated with Brain Malformation to Propel Global Market

Malformations of cortical development (MCD) is a significant contributor to developmental impairments, severe epilepsy, and reproductive disadvantage. Genes linked to MCD are mostly involved in neural migration, cell proliferation & 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 Classification of Epilepsy, in accordance with the etiologies of epilepsy, classified epilepsies into three categories: genetic, structural/metabolic, and unknown origin. Epilepsy in younger people frequently has a hereditary basis. About 30% of the causes of epilepsy in people are due to genetic factors. Genetic factors can contribute to the ensuing epileptogenesis in ischemic stroke patients.

Growth in Awareness about Epilepsy Monitoring to Augment Demand for Conventional Devices

In terms of product, the global market has been bifurcated into conventional devices and wearable devices. The conventional devices segment dominated the global market in 2021. Increase in awareness initiatives about epilepsy monitoring to reduce cases of SUDEP (Sudden Death due to Epilepsy) is ascribed to the rise in demand for conventional devices.

The wearable devices segment is expected to grow at the fastest CAGR during the forecast period. Wearable epilepsy monitoring equipment such as Empatica’s Embrace not only provides 24-hour surveillance for epilepsy episodes in patients, but can also raise an alarm by sending a message or even making a call immediately to the caregiver in case of an emergency. This feature provides additional support for care providers, leading to an increase in demand for advanced wearables and seizure alert devices such as seizure alarms or seizure monitors.

Significant Government Investment in Healthcare Infrastructure to Bolster Hospitals & Clinics Segment

Based on end-user, the global market has been divided into hospitals & clinics, home care settings, and others. The hospital & clinics segment accounted for major market share in 2021. The segment is anticipated 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 anticipated to offer lucrative opportunities, especially in developing countries. Governments of various countries such as China and India are investing significantly in healthcare infrastructure. Moreover, growth in medical tourism and rise in demand for quality healthcare are likely to augment the hospital & clinics segment during the forecast period.

Regional Outlook of Global Epilepsy Monitoring Devices Market

Europe dominated the global epilepsy monitoring device market in 2021. The market in Europe is expected to grow at a high CAGR from 2022 to 2030 due to the presence of a large geriatric population and increase in healthcare expenditure. According to Epilepsy Action, 600,000 people are living with epilepsy in the U.K., which is nearly equal to people living with autism and four times higher than those living with Parkinson's disease. Furthermore, a study by The Lancet Neurology in 2016 revealed that the prevalence of idiopathic epilepsy in Germany was 429,396.

North America is projected to be the second largest market for epilepsy monitoring tools during the forecast period. This can be ascribed to the high adoption of advanced treatment approaches and favorable reimbursement policies due to rise in patient population that is more susceptible to epilepsy. According to the U.S. Bureau of Labor Statistics, the average disposable income was US$ 3,258 per person per month in the U.S. in 2018, which is about a sixth higher than Canada's average. However, personal disposable income varies quite significantly across different states of the U.S.

Asia Pacific is expected to be the fastest growing region of the global epilepsy monitoring devices market during the forecast period. The market in the region is likely to grow at a high CAGR during the forecast period. Asia Pacific is experiencing increase in adoption of new technologies, rise in healthcare expenditure, and changing dynamics in the healthcare industry. Furthermore, increase in number of patients with epilepsy along with quality improvement in medical education is driving the demand for epilepsy monitoring devices in Asia Pacific.

Key Developments in Global Epilepsy Monitoring Devices Market

• In November 2021, Neurava, one of the startups in biopharmaceuticals, announced it is 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, more accurate diagnosis of epilepsy and to monitor response to treatment with anti-epileptic drugs (AEDs)
• In February 2018, the U.S. Food and Drug Administration approved an mHealth wearable, which detects epileptic seizures and immediately alerts the care team members

Some of the prominent players in the Epilepsy Monitoring Devices Market include:

• Koninklijke Philips N.V
• Medtronic plc
• Compumedics Limited
• Natus Medical Incorporated
• Empatica, Inc.
• PulseGuard International Ltd.
• Masimo
• Other prominent players

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Epilepsy Monitoring Devices market

• Product
• Conventional Devices
• Wearable Devices
• End-user
• Hospitals & Clinics
• Home Care Settings
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Epilepsy Monitoring Devices industry analysis from 2022 to 2030 to identify the prevailing Epilepsy Monitoring Devices industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Epilepsy Monitoring Devices industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Epilepsy Monitoring Devices industry trends, key players, market segments, application areas, and market growth strategies.