Epilepsy Monitoring Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

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 Market Trends

This section covers the major market trends shaping the Epilepsy Monitoring Devices Market according to our research experts:

The Conventional Devices Segment is Expected to Hold a Major Market Share Over the Forecast Period

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.