Epilepsy is a neurological condition marked by abnormal brain activity, leading to seizures or episodes of unusual behavior, sensations, and even loss of consciousness. It can affect anyone regardless of age, gender, race, or cultural background.
Seizures can manifest in different ways. During an episode, some individuals may stare blankly for a short time, while others may experience continuous jerking of their limbs or legs. It’s worth noting that a single seizure does not always indicate epilepsy. A diagnosis typically requires at least two unprovoked seizures that occur at least 24 hours apart. Most people with epilepsy can control their seizures with medication or surgery, but some may require lifelong treatment. In some cases, seizures may eventually go away, and children may outgrow the condition with age.
The global epilepsy monitoring devices market was valued at US$ 502.8 Million in 2022 and is anticipated to reach US$ 736.5 Million by the end of 2030 with a CAGR of 4.9% from 2023 to 2030
Healthcare companies have developed devices such as bracelets, watches, anti-suffocation pillows, and mattress devices to help individuals with epilepsy and their families. These devices can track seizures and provide protection against serious side effects. It’s important to note that these devices do not treat the disorder but are effective in providing peace of mind. Epilepsy monitoring devices use electroencephalogram (EEG) devices to diagnose brain abnormalities, which is a non-invasive electrophysiological monitoring technique used to detect electrical activity in the brain..
Epilepsy Monitoring Devices Market to Recover Amid COVID-19 Pandemic:
COVID-19 is expected to exert a positive influence on the global demand for epilepsy monitoring devices, especially in its later stages, as individuals with epilepsy faced a heightened risk of mortality. This increased risk can be attributed to the surge in seizures and epilepsy cases among patients affected by COVID-19.
According to statistics released by the American Epilepsy Society (AES) in December 2021, individuals with epilepsy were approximately 1.5 times more likely to succumb to COVID-19 compared to other infected patients. These circumstances have underscored the importance of epilepsy monitoring equipment, which allows patients to seek timely treatment. Consequently, COVID-19 is anticipated to have a substantial impact on the growth of the market.
Factors Driving the Growth of the Epilepsy Monitoring Devices Market in North America:
The prevalence of epilepsy is on the rise in North America due to various factors such as an aging population, traumatic brain injuries, congenital anomalies, and genetic factors. As a result, there is an increasing demand for epilepsy monitoring devices for diagnosis and continuous monitoring of the condition.
The market for epilepsy monitoring devices in North America is witnessing numerous technological advancements, including the development of portable and wearable devices, digital EEG systems, and telemedicine facilities, making it more user-friendly, accurate, and cost-effective.
The healthcare expenditure in North America is increasing due to government initiatives, insurance coverage, and growing awareness among people. This is leading to an increase in spending towards better healthcare facilities and contributing to the growth of the epilepsy monitoring devices market.
The favourable reimbursement policies for epilepsy diagnosis and treatment in North America are also contributing to the market’s growth. The government is recognizing the need for better healthcare facilities and providing financial aid to patients that require epilepsy monitoring devices.
There is an increase in awareness among patients and physicians in North America regarding the importance of continuous monitoring of epilepsy patients. This awareness is contributing to the growth of the epilepsy monitoring devices market as more physicians are recommending the use of these devices.
Competitive Insights:
Some of the key players of Epilepsy Monitoring Devices market are as following: Abbott Laboratories Inc, Boston Scientific Corporation, Cadwell Industries Inc, Compumedics Limited, Dragerwerk AG & Co. KGaA, Empatica, Inc., Koninklijke Philips N.V, Masimo, Medtronic Plc., Mindray Medical International Ltd., Natus Medical Incorporated, Neurosoft, NeuroWave Systems, Nihon Kohden Corporation, PulseGuard International Ltd.
Prominent players like Natus Medical, Inc., NeuroWave Systems, Inc., Koninklijke Philips N.V., and Medtronic dominate the epilepsy monitoring devices market. These companies invest heavily in research and development, and widen their product portfolios to increase their market share.
The increasing prevalence of epilepsy worldwide has led to a rising demand for more innovative diagnostic tools to improve patient outcomes. There is a need for epilepsy monitoring devices that offer advanced diagnosis and treatment options.
Technological advancements in healthcare have opened the door for innovative epilepsy monitoring devices that provide real-time detection of seizures, non-invasive monitoring, and remote patient care. This has led to a surge in the adoption of these devices, contributing to market growth.
Governments around the world have taken initiatives to promote epilepsy awareness and provide funding for research and development activities. These initiatives have been beneficial to the market and are expected to continue in the future.
Home-based monitoring has become a significant trend as it saves time and money for both patients and healthcare providers. Epilepsy monitoring devices that offer home-based monitoring options have gained significant popularity and are expected to continue to do so in the future.
To distinguish their products, increase their global reach, innovate, and collaborate with other businesses, players in the Epilepsy Monitoring Devices market are using various competitive strategies.
