Epilepsy Monitoring Devices Market size to surpass around USD 782 million by 2031 | Natus Medical, Inc., Compumedics Limited , Empatica, Inc

The epilepsy monitoring devices market was valued at USD 499 million in 2021 and it is anticipated to grow up to USD 782 million by 2031, at a CAGR of 4.6% during the forecast period.

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An abrupt and uncontrollable electrical disruption of the brain is known as epilepsy. It results in modifications to the degree of consciousness, movement, and behavior. Based on different severity levels, there are numerous forms of epilepsy that are common worldwide. Depending on where and how they start in the brain, many types of epilepsy exist. Most epileptic episodes last between 30 seconds and 2 minutes. However, if epilepsy persists for more than five minutes, medical assistance must be summoned. Epilepsy can develop after conditions like meningitis, a stroke, or a closed head injury. Epilepsy's primary etiology is unknown. Computed tomography, implanted advisory systems, electromyography, magnetic resonance imaging (MRI), and EEG machines are some of the most popular epilepsy diagnostic tools. Untreated epilepsy frequently results in loss of coordination, nausea, and vomiting.

Market Trends and Drivers

The increasing incidence and prevalence of epilepsy is boosting the growth of the market during the forecast period. The WHO estimates that five million people are given epilepsy diagnoses each year in the world. According to estimates, epilepsy affects 49 out of every 100,000 people in high-income nations. This number can reach 139 per 100,000 in low- and middle-income nations. This is probably because endemic diseases like malaria and neurocysticercosis are more common, birth traumas and injuries from auto accidents occur more frequently, the medical infrastructure varies, and there are preventive health programs and accessible care options available (in high-income countries).

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Market Restraints and Challenges

Factor such as the high cost of complex epilepsy monitoring procedures and devices is hindering the growth of the market. One of the main factors restricting the global market for epilepsy monitoring devices is the high cost of epilepsy monitoring operations and devices, particularly in developing nations with lax reimbursement systems. Devices for monitoring the brain are quite complicated, and the procedures required to use them are typically pricy. For instance, an EEG typically costs between USD 200 and USD 700; however, continued monitoring might increase the price to USD 3,000. Similar to that, a single MEG system costs between USD 2.5 and 3 million. Healthcare facilities find it challenging to obtain MEG devices due to the expensive cost, even in nations where high-tech medical equipment is widely used. Additionally, the price of upkeep and other related indirect costs raise the overall cost of ownership of these gadgets, restricting their affordability.

 Major Players in the Global Epilepsy Monitoring Devices Market

The key players in the global epilepsy monitoring devices market are Natus Medical, Inc. (US), Compumedics Limited (Australia), Empatica, Inc. (US), The Magstim Co. Ltd. (UK), Nihon Kohden Corporation (Japan), Medtronic Plc (Ireland), Masimo Corporation (US), Boston Scientific Corporation (US), Drägerwerk AG & Co. KGaA (Germany), mjn Neuroserveis S.L. (Spain), Abbott Laboratories, Inc. (US), LivAssured B.V. (Netherlands), BioSerenity (France), Aleva Neurotherapeutics (Switzerland), Medpage, Ltd. (UK), Neurosoft (Russia), Advanced Brain Monitoring (US), Lifelines Neuro Company, LLC (US), Mitsar Co., Ltd. (Russia), Rimed (US), Emotiv (US), CGX (A Cognionics Company) (US), Mindray Medical International Ltd. (China), Cadwell Industries, Inc. (US), NeuroWave Systems, Inc. (US), and MC10, Inc. (US).

COVID-19 Impact

The COVID-19 outbreak has put medical practises of all sizes under a great deal of stress, and healthcare facilities all across the world are being overrun by the massive number of patients who are coming to see them every day. Other items and services that were not essential to the COVID-19 response operations also showed signs of declining demand and procurement delays. To lower the danger of exposure to doctors, employees, and patients, as well as to conserve resources in order to handle an increase in COVID-19 patients, the majority of hospitals temporarily cancelled elective neurology treatments. Additionally, COVID-19 is increasing supply chain and logistics costs while also fueling uncertainty in important international markets. It's anticipated that this variation in market growth will continue over the upcoming quarters.

Market Segments

By Product Type

Wearable Devices
Conventional Devices
Implantable Devices

By Technology

Vagus Nerve Stimulation (VNS)
Responsive Neurostimulation
Deep Brain Stimulation
Accelerometry

By End User

Hospitals
Neurology Centers
Others

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This release was published on openPR.