Epilepsy Monitoring devices market- Growth, Trends, Covid-19 Impact, and Forecasts (2022 - 2027

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.

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.

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.

Competitive Landscape

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.

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