According to a Future Market Insights exclusive report, the global epilepsy monitoring devices market is expected to grow at a 5% CAGR to US$ 838 Billion by 2032, up from US$ 490 Million in 2021.
The rising incidence and prevalence of epilepsy, rising preference for ambulatory healthcare and wearables, rising demand for epilepsy monitoring devices, and rising awareness of neurodegenerative diseases, including epilepsy, are all contributing to the growth of the monitoring devices market.
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Because the epidemic has negatively impacted most people’s overall economic situation, consumer demand for epilepsy monitoring devices has decreased as people are now more intent on removing non-essential costs from their various budgets.
As regional government agencies lift these imposed lockdowns, the market for epilepsy monitoring devices is expected to rebound.
Patients are increasingly choosing minimally invasive treatments as they become more aware of their benefits. The risks and discomfort of invasive brain monitoring are eliminated by epilepsy monitoring devices. Many government programmes are also aimed at reducing the risks associated with brain disease treatment options. Because of the increase in demand, this epilepsy monitoring devices market has growth potential.
The high cost of complex epilepsy monitoring techniques and devices, as well as unfavourable reimbursement regulations, are limiting the growth of the epilepsy monitoring devices market.
During the forecast period, the conventional devices category dominated the epilepsy monitoring devices market. The rising incidence of epilepsy, particularly in developing countries, and increased public awareness of neurological illnesses such as epilepsy are two factors contributing to the significant income generated by the conventional equipment segment.
Monitoring devices held the most significant epilepsy monitoring devices market share in the traditional devices segment during the forecast period. This is because there is a growing demand for continuous, non-invasive epilepsy monitoring, as well as the use of similar devices in other areas of neurology.
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North America had the largest market share for epilepsy monitoring devices in 2020. Contributing factors include the high prevalence of neurological illnesses, an increase in clinical trials for epilepsy monitoring devices, and a large number of end users in the United States.
The market for epilepsy monitoring devices in North America is dominated by paediatric vaccinations. The average government investment in healthcare institutions is significantly higher in the United States than in other countries. Furthermore, the government and private corporations in the epilepsy monitoring devices market in North America invest significantly more in R&D.
- The epilepsy monitoring devices market’s wearable devices segment is expected to reach a value of US$ 390 million by the end of 2027, representing a US$ 160 million incremental potential during the forecast period.
- The classic EEG devices segment dominated the epilepsy monitoring devices market, accounting for nearly 85% of the total.
Competitive Landscape: The epilepsy monitoring devices market study report will provide a valuable insight with an emphasis on the global market, including some of the major players such as Koninklijke Philips N.V., Medtronic Plc., Compumedics Limited., Natus Medical Incorporated, Nihon Kohden Corporation, Empatica Inc., Pulse Guard International Ltd., Masimo, and others.
The epilepsy monitoring devices market is expected to grow as a result of significant innovations by major players in the industry. The following are some of the growth tactics used by players in the global epilepsy monitoring devices market:
- In June 2018, Compumedics Limited signed a three-year distribution agreement with Fukuda Denshi Co., Ltd in Japan for the sale of its neurodiagnostic and monitoring products. The distribution agreement strengthened the company’s position in Asia’s most promising epilepsy monitoring device markets.
- Radius PPG, a Masimo SET-powered tetherless sensor system, received FDA 510(k) approval in May of this year. Radius PPG is a wireless pulse oximetry monitor that does not require a cabled connection, allowing patients to move around freely and comfortably while being monitored.
- According to World Bank data, the GDP increased from USD 17,102 in 2018 to USD 17,718 in 2019. The percentage increase is more than 4%. As a result, as income levels rise, so does affordability. As a result, customers will be able to buy more expensive items.
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- Wearable Devices
- Conventional Devices
By End User:
- Ambulatory Surgery centres and clinic
- Neurology Centres
- Diagnostic centres
- Home Care Settings
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