Epilepsy Monitoring Devices Market Size, Share & Trends Analysis By Product, By End User, Regional Outlook, Competitive Strategies and Segment Forecasts to 2030
Global epilepsy monitoring devices market is projected to be worth USD 724 million by 2030
According to SPER Market Research, the epilepsy monitoring devices market estimated to reach USD 724 million by 2030 with a CAGR of 4.5%. Epilepsy is the most common neurological disorder affecting people of all age groups. Global burden of epilepsy is around 50 million out of which 80% patients reside in low- or middle-income countries who majorly do not get timely treatment.
Impact of COVID-19 on the Epilepsy Monitoring Devices Market
During the COVID-19 pandemic, many hospitals suspended the neurology procedures temporarily. The procurement of products was also difficult for indications other than COVID-19 due to disruption of supply chain. The fluctuations in the logistics supply cost will continue to last until COVID-19 cases continue to rise. The rising demand for wearable monitoring devices is expected to grow this market for wearable segment considering the social distancing norms.
Scope of the report:
Market size available for the years
Base year considered
By Product, By End User
North America, Europe, APAC, Latin America and the Middle East & Africa
Abbott Laboratories, Inc., Advanced Brain Monitoring, Aleva Neurotherapeutics, BioSerenity, Boston Scientific Corporation, Cadwell Industries, Inc., CGX, Compumedics Limited, Drägerwerk AG & Co. KGaA, Emotiv, Empatica, Inc., Lifelines Neuro Company, LLC, LivAssured B.V., Masimo Corporation, MC10, Inc., Medpage, Ltd., Medtronic Plc, Mindray Medical International Ltd., Mitsar Co., Ltd., mjn Neuroserveis S.L., Natus Medical, Inc., Neurosoft, NeuroWave Systems, Inc., Nihon Kohden Corporation, Rimed, The Magstim Co. Ltd.
Driver: Rising prevalence of Epilepsy
Due to the rise in occurrence of malaria, road accidents, birth related injuries and stressful lifestyles can potentially increase the risk to epilepsy. The low middle income countries are more prone to incidence of epilepsy in population due to unmet needs in healthcare infrastructure and less awareness. Thus, rising prevalence of epilepsy can significantly drive the growth of this market.
Challenge: High cost of devices
The adoption of epilepsy monitoring devices can be restricted due to high cost, maintenance charges, complex mechanisms requiring trained technicians and poor reimbursement scenarios in developing countries. Thus, high cost of these devices along with maintenance and indirect costs can pose significant challenge to this market during the forecast period.
Opportunity: Rising demand for minimally invasive procedures
With rising awareness, more patients are opting for minimally invasive procedures. Epilepsy monitoring devices overcome the risks and pain associated with invasive monitoring for brain. Many government initiatives are also focused on reducing the risks related to treatment options for brain disorders. The rise in demand creates growth opportunities for this market.
Epilepsy Monitoring Devices Market by Product:
Based on product, market has been segmented into conventional devices and wearable devices.
Epilepsy Monitoring Devices Market by End User:
Based on end user, the market is segmented into hospitals & clinics, home care settings and others.
Hospitals & Clinics have the largest share of this market by end user due to high number of patients visiting hospitals and clinics for neurological disorders.
Epilepsy Monitoring Devices Market by Region:
North America owns the largest share of this market due to factors such as supportive reimbursement policies, effective government initiatives, rising prevalence of neurological disorders and focus on Research and Development.
Asia Pacific is expected to show the fastest growth in this market owing to rising awareness, increasing medical tourism, presence of large patient pool and technological advancements.
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