July 21, 2024
Epilepsy Monitoring Devices Market

Global Epilepsy Monitoring Devices Market is Estimated to Witness High Growth Owing to Advancements in Wireless Monitoring Technologies

The global epilepsy monitoring devices market has shown significant growth on account of rising prevalence of epilepsy disorder across all age groups. Epilepsy monitoring devices help in recording brain activity and detecting seizure activity using EEG technology. Devices like video EEG monitoring systems, ambulance ECG telemetry devices and implanted devices are used for effective diagnosis and treatment of epilepsy. The Global Epilepsy Monitoring Devices Market is estimated to be valued at US$ 778.2 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2031.

Key Takeaways

Global Epilepsy Monitoring Devices Companies are Boston Scientific Corporation, Compumedics Limited, Drägerwerk AG & Co. KGaA, Empatica Inc., Lifelines Neuro, Natus Medical Incorporated, Magstim, Nihon Kohden Corporation, Masimo, Medtronic, Mitsar Co. LTD., Seer Medical, EMOTIV, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Cadwell Industries, Inc., Ceribell, Inc., Neuraxpharm.

The growing demand can be attributed to the rising cases of epilepsy worldwide along with increasing awareness regarding the availability of innovative monitoring devices for efficient diagnosis and treatment. Continuous remote monitoring devices are finding greater acceptance as they help doctors monitor patients outside of hospital settings and instantly receive alerts in case of a seizure occurrence.

The market is also witnessing strong growth in developing regions owing to rising healthcare expenditures, improved access to advanced healthcare facilities and growing focus of leading manufacturers on expanding presence in high potential markets through strategic partnerships and joint ventures.

Market Key Trends

One of the key trends gaining traction in the epilepsy monitoring devices market is the increasing adoption of wearable and remote monitoring devices enabled with AI technology. These devices effectively detect seizure activity through continuous EEG monitoring and wireless data transmission to caregivers. This allows for quick response during a seizure episode and also enables storage of long term epilepsy data which facilitates improved diagnosis and management of the condition.

Porter’s Analysis

Threat of new entrants: Difficult for new companies to enter as it requires extensive R&D and funds.

Bargaining power of buyers: Buyers have low bargaining power given lack of substitutes and specialized medical need.

Bargaining power of suppliers: Suppliers have moderate bargaining power as key components have few alternatives.

Threat of new substitutes: Low threat as these devices uniquely address epilepsy diagnosis and monitoring needs.

Competitive rivalry: Intense as existing major players compete on technology and service.

Geographical Regions

North America holds the largest share of the global epilepsy monitoring devices market due to advanced healthcare facilities, supportive reimbursement policies and growing epilepsy prevalence. Rising insurance coverage for monitoring devices in the US contributes further to high regional demand.

Asia Pacific is poised to be the fastest growing regional market attributed to growing healthcare spending, large patient population, increasing awareness and expanding medical tourism in countries like India and China. Improving access to diagnosis and awareness programs also fuel demand across developing Asia Pacific countries.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it

About Author - Ravina Pandya

Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

About Author - Ravina Pandya

Ravina Pandya, a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals.  LinkedIn Profile

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