Market Size of Global Epilepsy Monitoring Devices Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 510.03 Million |
Market Size (2029) | USD 661.87 Million |
CAGR (2024 - 2029) | 5.35 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Epilepsy Monitoring Devices Market Analysis
The Global Epilepsy Monitoring Devices Market size is estimated at USD 510.03 million in 2024, and is expected to reach USD 661.87 million by 2029, growing at a CAGR of 5.35% during the forecast period (2024-2029).
COVID-19 is expected to have a positive impact on the global demand for epilepsy monitoring devices in its latter phase since the population with epilepsy was at a higher risk of encountering fatalities. This is mainly due to the increasing incidences of seizures and epilepsy among the people who were affected by COVID-19 disease. According to the data published by the American Epilepsy Society (AES) in December 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 opt for treatments early on. Thus, COVID-19 is expected to have a considerable impact on the growth of the market.
Increasing incidences of epilepsy among people across the world are expected to drive the growth of the epilepsy monitoring devices market. According to the World Health Organization's February 2022 update, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. It also reported that nearly 80% of people with epilepsy live in low- and middle-income countries. The same source also reported that it is estimated that up to 70% of people living with epilepsy could live seizure-free if properly diagnosed and treated. 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 vulnerable to developing epilepsy and seizures across the globe also plays a crucial role in driving the market's growth.
Additionally, the investment by the market players and advancements in technology are also propelling the growth of the market. For instance, in July 2022, Breakthrough Victoria invested in Victorian medical technology group Seer Medical to support its plan to become one of the global leaders in epilepsy home monitoring and management. The contribution will allow Seer to nearly double its workforce and footprint in Victoria while expanding into the United States and the United Kingdom.
Thus, owing to the abovementioned factors, the market is expected to project growth over the forecast period. However, the high cost of equipment and unfavorable reimbursement policies may hinder the growth of the market.
Epilepsy Monitoring Devices Industry Segmentation
As per the scope of this report, an epilepsy monitoring device is a type of electronic device that can identify seizures in epilepsy conditions. The Epilepsy Monitoring Devices market is segmented by Product (Conventional Devices and Wearable Devices), Technology (Vagus Nerve stimulation, Deep brain Stimulation, Accelorometry, Responsive neurostimulation), Detection devices (Electroencephalogram, Intracranial EEG, Surface Electromyography, Video Detection systems), End User (Hospitals and Ambulatory services, Neurology centers, Diagnostic centers) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers values in USD million for the above segments.
By Product | |
Conventional devices | |
Wearable devices |
By Technology | |
Vagus nerve stimulation | |
Deep brain stimulation | |
Accelometry | |
Responsive neurostimulation |
By Detection | |
Elecetroencephalogram | |
Intracranial EEG | |
Surface Electromyography | |
Video Detection Systems |
By End User | |
Hospitals and Ambulatory services | |
Neurology centers | |
Diagnostic centers |
Geography | ||||||||
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Global Epilepsy Monitoring Devices Market Size Summary
The epilepsy monitoring devices market is poised for significant growth, driven by the increasing prevalence of epilepsy globally and the rising demand for early diagnosis and treatment. The market is expected to expand steadily over the forecast period, supported by advancements in technology and increased investment from key players. The COVID-19 pandemic has further accelerated demand, as individuals with epilepsy faced higher risks, prompting a greater need for monitoring devices. The market is characterized by a mix of conventional and advanced devices, with conventional electroencephalogram (EEG) devices maintaining a strong presence due to their safety and efficiency in continuous monitoring. The geriatric population's vulnerability to epilepsy also contributes to the market's expansion, as does the growing awareness and need for proper diagnosis and treatment in low- and middle-income countries.
North America is anticipated to be a major growth region, fueled by the high incidence of neurological disorders and the presence of leading market players investing in research and development. The region's market growth is further bolstered by regulatory approvals for innovative devices, such as wearable EEG systems, which enhance remote monitoring capabilities. The competitive landscape of the market is moderately concentrated, with several key players dominating the scene. Companies like Medpage Ltd, Boston Scientific Corporation, and Koninklijke Philips N.V. are at the forefront, driving innovation and expanding their product offerings. Despite challenges such as high equipment costs and unfavorable reimbursement policies, the market is expected to continue its upward trajectory, supported by ongoing technological advancements and strategic investments.
Global Epilepsy Monitoring Devices Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing incidence of Epilepsy
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1.2.2 Rising awareness of neurodegenerative disorders, including epilepsy
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1.3 Market Restraints
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1.3.1 High cost of the equipment
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1.3.2 Unfavourable Reimbursement policies
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - in USD million)
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2.1 By Product
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2.1.1 Conventional devices
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2.1.2 Wearable devices
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2.2 By Technology
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2.2.1 Vagus nerve stimulation
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2.2.2 Deep brain stimulation
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2.2.3 Accelometry
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2.2.4 Responsive neurostimulation
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2.3 By Detection
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2.3.1 Elecetroencephalogram
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2.3.2 Intracranial EEG
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2.3.3 Surface Electromyography
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2.3.4 Video Detection Systems
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2.4 By End User
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2.4.1 Hospitals and Ambulatory services
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2.4.2 Neurology centers
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2.4.3 Diagnostic centers
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2.5 Geography
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2.5.1 North America
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2.5.1.1 United States
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2.5.1.2 Canada
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2.5.1.3 Mexico
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2.5.2 Europe
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2.5.2.1 Germany
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2.5.2.2 United Kingdom
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2.5.2.3 France
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2.5.2.4 Italy
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2.5.2.5 Spain
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2.5.2.6 Rest of Europe
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2.5.3 Asia-Pacific
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2.5.3.1 China
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2.5.3.2 Japan
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2.5.3.3 India
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2.5.3.4 Australia
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2.5.3.5 South Korea
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2.5.3.6 Rest of Asia-Pacific
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2.5.4 Middle East and Africa
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2.5.4.1 GCC
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2.5.4.2 South Africa
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2.5.4.3 Rest of Middle East and Africa
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2.5.5 South America
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2.5.5.1 Brazil
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2.5.5.2 Argentina
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2.5.5.3 Rest of South America
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Global Epilepsy Monitoring Devices Market Size FAQs
How big is the Global Epilepsy Monitoring Devices Market?
The Global Epilepsy Monitoring Devices Market size is expected to reach USD 510.03 million in 2024 and grow at a CAGR of 5.35% to reach USD 661.87 million by 2029.
What is the current Global Epilepsy Monitoring Devices Market size?
In 2024, the Global Epilepsy Monitoring Devices Market size is expected to reach USD 510.03 million.