Epilepsy Device Market Size, Share, Growth and Regional Analysis, Global Forecast 2024-2031

AUSTIN, TEXAS, UNITED STATES, May 30, 2024 /EINPresswire.com/ -- The Epilepsy Device Market was valued at USD 1.65 Billion in 2023 and is anticipated to reach a valuation of USD 3.02 Billion by 2031. This translates to a compound annual growth rate (CAGR) of 8.9% throughout the forecast period from 2024 to 2031.

Epilepsy Device Market Booms Driven by Rising Epilepsy Rates, Minimally Invasive Tech, And AI Integration
The epilepsy monitoring device market is experiencing a boom, driven by several factors. The global rise in epilepsy cases fuels the need for better detection methods. Also, minimally invasive and sophisticated monitoring technologies are gaining preference over complex, invasive procedures. Integration of AI and machine learning further improves diagnosis and treatment accuracy. Telemedicine's growth is also expected to propel demand for remote monitoring solutions. However, high device costs and lack of patient awareness remain challenges. Fortunately, government initiatives like the BRAIN initiative in the US are actively supporting the development of innovative and non-invasive epilepsy monitoring devices.

In May 2022, mjn-NEURO, a Spanish medical startup, introduced the mjn-SERAS, a revolutionary technology that utilizes artificial intelligence to predict seizures up to three minutes in advance. This innovation has the potential to significantly improve seizure management for patient

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Epilepsy Monitoring Devices: A Lifeline for Increased Seizures Post-COVID and Rising Global Cases
The COVID-19 pandemic has had an unintended consequence - a surge in demand for epilepsy monitoring devices. This is because people with epilepsy were more susceptible to experiencing seizures after contracting the virus. Data from the American Epilepsy Society (December 2021) reveals a worrying trend: epilepsy patients were nearly 1.5 times more likely to die from COVID-19 than the general infected population. This highlights the critical role of these devices in early detection and intervention for improved patient outcomes.

Beyond the pandemic's impact, the global epilepsy burden is another key driver of market growth. The World Health Organization (February 2022) estimates a staggering 50 million people worldwide living with epilepsy, making it a leading neurological disorder. Notably, 80% of these cases reside in low- and middle-income countries. The good news? Up to 70% of these individuals could potentially achieve seizure-free lives with proper diagnosis and treatment. This underscores the growing need for epilepsy monitoring devices, which provide vital insights into seizure types for effective management. Additionally, the rising geriatric population, more prone to developing epilepsy, further fuels market expansion.

Recognizing this growing need, market players are actively investing in R&D. For instance, Breakthrough Victoria's July 2022 investment in Seer Medical, a leader in home epilepsy monitoring solutions, exemplifies this trend. This investment will empower Seer to expand its workforce and footprint, aiming to become a global leader in the field.

Epilepsy Device Companies Profiled in Report:
- Boston Scientific Corporation
- Cerbomed GmbH
- Compumedics Ltd.
- Empatica Inc
- Koninklijke Philips N.V
- Liva Nova
- MC10
- Medpage Ltd
- Medtronic Plc.
- Natus Medical Incorporated
- Neuropace Inc.
- Nihon Kohden Corporation
- St. Jude Medical Inc.

(To view Complete List of companies, Read Sample Report)

Traditional EEG Devices Dominate in Epilepsy Monitoring
The Conventional Devices segment, which primarily consists of electroencephalogram (EEG) equipment, is poised to maintain its dominant market share.
EEGs are already a familiar and trusted tool for healthcare professionals, making them the go-to option for many patients.
Interestingly, the COVID-19 pandemic played a role in solidifying this segment's leadership. A 2021 study ("Epilepsy during the COVID19 pandemic lockdown") revealed a 25% increase in reported seizure frequency among epilepsy patients in the US during the pandemic. This surge in demand favored conventional devices due to their established reputation and widespread use within healthcare settings.

Beyond the pandemic, hospitals and clinics heavily rely on conventional devices for continuous monitoring. These devices provide crucial data for accurate seizure diagnosis, allowing doctors to tailor treatment plans effectively.

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North America Is Anticipated To Retain Its Dominant Position In The Epilepsy Device Market Throughout The Forecast Period

North America has a high prevalence of neurological disorders, particularly epilepsy. This translates to a significant demand for epilepsy monitoring devices in the region.

The region boasts a well-developed healthcare infrastructure with a high concentration of leading hospitals, research institutions, and skilled medical professionals. This fosters the adoption of advanced epilepsy monitoring technologies.

Governments in North America actively support research and development initiatives in the healthcare sector. Additionally, they implement reimbursement policies that encourage the adoption of advanced epilepsy monitoring devices.

Several leading epilepsy device manufacturers are headquartered in North America. These companies invest heavily in R&D to develop innovative and sophisticated devices.

Future Scope
- The future of the epilepsy device market is brimming with exciting possibilities. Here are some key trends to watch out for:
- The market is likely to witness a surge in demand for non-invasive and wearable epilepsy monitoring devices that offer increased comfort and convenience for patients.
- The integration of AI and ML algorithms into epilepsy monitoring devices will lead to more efficient and personalized treatment plans for patients.
- The growing adoption of telemedicine solutions will enable remote monitoring of patients with epilepsy, improving accessibility and convenience.
- The development of closed-loop stimulation devices that automatically detect and respond to seizures before they occur holds immense promise for improving patient outcomes.

Why You Need This Epilepsy Device Market Report:
- Gain a deep understanding of every market segment, empowering you to make strategic choices with confidence.
- Accurately assess market size on both a global and regional scale, allowing you to identify areas of high growth and investment opportunities.
- Our unique research methodology delivers reliable market size estimations and future growth projections.
- Identify key players and track their latest developments to stay informed about industry trends and competitor activity.
- This report provides exhaustive coverage of all relevant market segments, ensuring you have a complete picture of the landscape.

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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Epilepsy Device Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Epilepsy Device Market Segmentation, By End User
Chapter 9 Epilepsy Device Market Segmentation, By Product Type
Chapter 10 Epilepsy Device Market Segmentation, By Technology
Chapter 11 Epilepsy Device Market Segmentation, By Epilepsy Detection & Prediction Devices
Chapter 12 Regional Analysis
Chapter 13 Company profile
Chapter 14 Competitive Landscape
Chapter 15 Use Case and Best Practices
Chapter 16 Conclusion
Continued…

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