|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The Epilepsy Monitoring devices market is projected to register a CAGR of 4% during the forecast period.
COVID-19 may have increased the demand for Epilepsy monitoring devices across the globe. This is mainly due to the increasing incidences of seizures and epilepsy among the people who are affected with COVID-19 disease. According to the National Institute of Health (NIH) in 2020, people infected with COVID-19 also may experience neurological symptoms such as seizures and epilepsy. Also, according to the data published by the American Epilepsy Society (AES) in 2021, patients with epilepsy were nearly 1.5 times more likely to die of COVID-19 than other infected patients. These circumstances have increased the demand for Epilepsy monitoring devices to get treatment at early stages.
Increasing incidences of epilepsy among people across the world are expected to drive the growth of the Epilepsy monitoring devices market. According to the Journal of Clinical Neurology, in 2021, epilepsy was the third most common neurological disorder after stroke and dementia, affecting approximately 70 million patients worldwide. Therefore, the increasing incidences of Epilepsy cases across the globe are expected to increase the demand for Epilepsy monitoring devices as they provide critical insights into the type of seizures. Furthermore, the increase in the geriatric population at risk of developing epilepsy and seizures across the globe also plays a crucial role in driving the market's growth.
Scope of the Report
As per the scope of this report, the Epilepsy Monitoring device is a type of electronic device which can identify seizures in epilepsy conditions. The Epilepsy Monitoring devices market is segmented by Product (Conventional devices and wearable devices), By Technology ( Vagus Nerve stimulation, Deep brain Stimulation, Accelorometry, Responsive neurostimulation) By Detection devices (Electroencephalogram, Intracranial EEG, Surface Electromyography, Video Detection systems) By End User (Hospitals and Ambulatory services, Neurology centers, Diagnostic centers ) and Geography ( North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The Market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values in USD million for the above segments.
|Vagus nerve stimulation|
|Deep brain stimulation|
|Video Detection Systems|
|By End User|
|Hospitals and Ambulatory services|
Key Market Trends
The Conventional devices Segment is Expected to Hold a Major Market Share in the Epilepsy Monitoring devices market Market.
Amidst COVID-19, there is an increasing demand for Epilepsy monitoring devices as there is a high prevalence of epilepsy during the pandemic period. For instance, according to the study published by the National Institute of Health (NIH) in 2021, 25% of people in the United States reported an increase in seizure cases during the Pandemic period. Hence, there is an increase in the demand for conventional devices during COVID-19.
The conventional devices segment is expected to hold a significant share in the market owing to its safety and efficiency. Conventional devices refer to the Electroencephalogram (EEG) devices used for the continuous monitoring of patients. According to the World Health Organization (WHO), in 2019, proper etiology documentation and an abnormal Electroencephalogram (EEG) pattern are the most accurate predictions for seizure recurrence. Additionally, conventional devices are widely used in hospitals and clinics for continuous monitoring purposes. According to the World Health Organization (WHO) in 2019, an estimated 70% of people with epilepsy could be seizure-free if properly diagnosed and treated. Conventional devices provide a proper diagnosis to the professionals about the type of seizure to prescribe the proper treatment. These factors can be attributed to the increasing demand for continuous, non-invasive monitoring of epilepsy and the application of conventional devices in neurology.
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North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period.
The high incidences of neurological disorders, especially epilepsy, and a large number of end-users in the United States are the major factor for the growth of Epilepsy monitoring devices in this region. For instance, the report published by the Center for Disease Control and Prevention (CDC) in 2020 states that about 3 million people in the United States are diagnosed with epilepsy. Also, the increasing geriatric population at higher risk of epilepsy in the United States also contributes to the market's growth. According to the National Center for Chronic Disease Prevention, in 2019, in the United States, Older people are at higher risk of epilepsy as a side effect of neurological disorders such as stroke and Alzheimers. According to the Center for Disease Control and Prevention (CDC), in 2020, nearly 1 million people aged 55 and older were diagnosed with epilepsy in the United States. These factors contributed to the increase in the demand for epilepsy monitoring devices in order to provide proper treatment to patients. Furthermore, the presence of the major market players in this region spending extensively on the research and development of new products is also expected to boost the growth of the market in this region.
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The Epilepsy Monitoring devices market is fragmented and competitive and consists of several major players. In terms of market share, a few of the major players are currently dominating the market. Some companies currently dominating the market are Medpage Ltd, Boston Scientific Corporation, Cadwell Industries, Compumedics USA inc., EpiUSA, Empatica Inc., General Electric company, Koninklijke Philips N.V., Masimo, Neurosoft, Neurowave systems, Nihon Kohden Corporation, Nonin, and others.
In June 2021, Medtronic Plc received United States Food and Drug Administration (FDA) approval for Vanta, a high-performance, rechargeable neurostimulator.
In February 2021, Bioserenity, Inc. got the Food and Drug Administration approval for the Neuronaute EEG system and Icecap EEG wearable device, which can monitor epilepsy patients remotely.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing incidence of Epilepsy
4.2.2 Rising awareness of neurodegenerative disorders, including epilepsy
4.3 Market Restraints
4.3.1 High cost of the equipment
4.3.2 Unfavourable Reimbursement policies
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Conventional devices
5.1.2 Wearable devices
5.2 By Technology
5.2.1 Vagus nerve stimulation
5.2.2 Deep brain stimulation
5.2.4 Responsive neurostimulation
5.3 By Detection
5.3.2 Intracranial EEG
5.3.3 Surface Electromyography
5.3.4 Video Detection Systems
5.4 By End User
5.4.1 Hospitals and Ambulatory services
5.4.2 Neurology centers
5.4.3 Diagnostic centers
5.5.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.5.4 Middle-East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle-East and Africa
5.5.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.1 Medpage Ltd
6.1.2 Boston Scientific Corporation
6.1.3 Cadwell industries
6.1.4 Compumedics USA inc
6.1.5 Epi USA
6.1.6 Empatica Inc
6.1.7 General Electric company
6.1.8 Kninklijke Philips N.V.
6.1.11 Neurowave systems
6.1.12 Nihon Kohden Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Epilepsy Monitoring Devices Market market is studied from 2019 - 2027.
What is the growth rate of Global Epilepsy Monitoring Devices Market ?
The Global Epilepsy Monitoring Devices Market is growing at a CAGR of >4% over the next 5 years.
Which region has highest growth rate in Global Epilepsy Monitoring Devices Market ?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Epilepsy Monitoring Devices Market ?
North America holds highest share in 2021.
Who are the key players in Global Epilepsy Monitoring Devices Market ?
Medpage Ltd, Koninklijke Philips N.V., Boston Scientific Corporation, Cadwell Industries, EpiUSA are the major companies operating in Global Epilepsy Monitoring Devices Market .