Epilepsy Monitoring Devices Market Future Innovation Strategies 2022-2031

Epilepsy Monitoring Devices Market Outlook 2031

The global epilepsy monitoring devices market was valued at US$ 475.6 Mn in 2021
The global market is projected to grow at a CAGR of 4.6% from 2022 to 2031
The global epilepsy monitoring devices market is expected to reach more than US$ 737 Mn by the end of 2031

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Epilepsy Monitoring Devices Market Introduction

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.

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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 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.

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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.

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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 2031 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.

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Analysis of Key Players in Global Epilepsy Monitoring Devices Market

The global epilepsy monitoring devices market is consolidated, with the presence of a small number of large-scale companies. Expansion of product portfolio and mergers & acquisitions are the key strategies adopted by the key players. Koninklijke Philips N.V, Medtronic plc, Compumedics Limited, Natus Medical Incorporated, Empatica, Inc., PulseGuard International Ltd., and Masimo are the prominent companies operating in the market.

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

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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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