by Epilepsy monitoring devices are medical devices used to detect and monitor epileptic seizures and related neurological episodes in patients suffering from epilepsy. These devices help detect electrographic seizures precisely along with other valuable clinical information to help neurologists accurately diagnose and treat epilepsy. Epilepsy monitoring devices help detect seizures using electroencephalography (EEG), which measures voltage fluctuations on the skull surface that result from current flows within the brain. With wireless monitoring technologies, these devices can provide portable long-term EEG monitoring in outpatient settings for weeks to months. Advancements in wireless monitoring technologies have enabled better detection and management of seizures, driving the adoption of epilepsy monitoring devices.
The Global Epilepsy Monitoring Devices Market is estimated to be valued at US$ 778.2 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period from 2024 to 2031.
Key Takeaways
Global Epilepsy Monitoring Devices Companies are Boston Scientific Corporation, Compumedics Limited, Drägerwerk AG & Co. KGaA, Empatica Inc., Lifelines Neuro, Natus Medical Incorporated, Magstim, Nihon Kohden Corporation, Masimo, Medtronic, Mitsar Co. LTD., Seer Medical, EMOTIV, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Cadwell Industries, Inc., Ceribell, Inc., Neuraxpharm.
The key opportunities in the market include growing awareness about epilepsy, increasing adoption of wearable devices for epilepsy monitoring, and heavy investments in technological advancements by key players.
Advancements like wireless long-term ambulatory EEG monitoring, cloud-based data management, AI-powered seizure detection, and EEG video monitoring are gaining traction and fueling the epilepsy monitoring devices market growth.
Market Drivers
The increasing prevalence of epilepsy globally is a major factor driving the demand for epilepsy monitoring devices. According to the World Health Organization (WHO), about 50 million people worldwide have epilepsy making it one of the most common neurological diseases globally.
Growing research and development activities by market players, rising healthcare spending, and increasing adoption of long-term monitoring devices for accurate diagnosis are also fueling the epilepsy monitoring devices market growth.
Current challenges in the Global Epilepsy Monitoring Devices Market:
Some of the major challenges faced by the global epilepsy monitoring devices market are lack of awareness, high cost of advanced devices & therapies, and limited availability of skilled professionals. There is low awareness among people about advanced technologies available for treating epilepsy, thus many people rely on medications alone which are not always effective. The cost of continuous monitoring systems and implantable devices is quite high which poses affordability challenges. Further, there is a shortage of epileptologists and neurologists trained to use these advanced devices which hampers proper patient management.
SWOT Analysis
Strength: Availability of innovative monitoring solutions like implantable and portable devices offering accurate diagnosis. Weaknesses: High costs associated and shortage of skilled professionals for handling advanced systems. Opportunities: Growing research & development activities and rising health expenditures in developing nations. Threats: Lack of awareness especially in rural areas and fear of device-related complications.
Geographically, North America currently dominates the global epilepsy monitoring devices market in terms of value due to presence of advanced healthcare infrastructure and higher adoption of new technologies. Europe holds the second largest share due to large patient population and favorable reimbursement policies for epilepsy treatment. Asia Pacific is identified as the fastest growing regional market supported by improving healthcare facilities, rising medical tourism, and increasing investments by key players.
the United States accounts for majority share of the North America epilepsy monitoring devices market owing to high awareness levels, refined healthcare services, and existence of leading market players in the country. Germany dominates the European market backed by growing prevalence of epilepsy disorders and availability of funds for research. China and India are projected to drive the Asia Pacific market over the forecast period considering expanding medical device industry and progressively rising healthcare expenditures.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
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