Epilepsy Devices Market

This study intends to unfurl the multiple facets of global epilepsy devices market. The insights offered in the report aid in market growth examination during the forecast period.

Significant Rise in Cases of Epilepsy in Recent Past Drives Global Epilepsy Devices Market

Proliferation of technology in the medical field, increasing product approvals from authorities and rise in brain infections, head injuries, and brain cancer prevalence continue to influence the growth of the epilepsy devices market. New entrants in epilepsy devices market as well as the current players are investing in launching new epilepsy devices for children. For instance, NeuroPace introduced the RNS system which is used in treating refractory epilepsy. This is the only system in the world which includes a brain-computer interface. In addition, cases of epilepsy have been significantly rising since the past several years. For instance, according to World Health Organization, over 50 million individuals across the globe are living with epilepsy, which is one of the most common neurological disorders that can cause seizures if not diagnosed and treated in time. This factor coupled with increasing prevalence of epilepsy cases worldwide is expected to drive the growth of the epilepsy devices market.

Increasing Prevalence of Brain Tumor to Accelerate Epilepsy Devices Market Expansion

Disorders associated with brain, and head injuries are a major concern among individuals causing high economical burden. As per the National Centre for Biotechnology Information, brain tumors are one of the most common causes of epilepsy after cerebrovascular illness in aged population and account for around 10-30% of the cases of geriatric epilepsy. Individuals suffering from brain tumors frequently suffer from epilepsy, which points to a continuous stream of demand generation in epilepsy devices market. Furthermore, as per the International League Against Epilepsy, acute symptomatic seizures and epilepsy can occur due to diseases affecting the central nervous system. These diseases may include encephalitis, meningitis, and neurocysticerosis.

In addition, according to analysis of American Association of Neurological Surgeons, drug or alcohol misuse and failure to consume prescribed anticonvulsant medications are one of the primary factors that can increase the risk of fatal seizures among individuals that are prone to them. Moreover, according to World Health Organization, brain tumor is likely to become the second most common cancer by end of 2030. As per International Association of Cancer Registries, yearly around 40,000-50,000 individuals suffer from brain tumor and more than 24,000 individuals die due to brain cancer and the count is expected to further grow at a CAGR of 1.11% till 2030. In this backdrop, rising cases of brain tumor coupled with increasing need for monitoring the diseases associated with central nervous system is expected to bolster the growth of the epilepsy devices market on the global front. 

Conventional Devices to Largely Contribute Toward Value Growth of Epilepsy Devices Market

Rising awareness regarding monitoring of epilepsy has fuelled the demand for epilepsy devices. Of several such devices, conventional counterparts have gained significant traction since past few years. This can be attributed towards rising epilepsy prevalence and to reduce cases of Sudden Unexpected Death in Epilepsy (SUDEP). This has triggered the use of conventional epilepsy devices in healthcare facilities such as clinics and hospitals to monitor the condition in patients on a continuous basis. Conventional devices offer accurate diagnosis to physicians regarding the seizure type thus enabling appropriate treatment. That said, the sale and demand for conventional devices is expected to increase in turn contributing towards the revenue growth of the epilepsy devices market.

North America Projected to Lead Global Epilepsy Devices Market as Prevalence of Neurological Diseases Remains High

Increasing incidences of neurological diseases, in particular epilepsy in developed economies in North America remain instrumental in driving the growth of the epilepsy devices market. For instance, according to the National Centre for Biotechnology Information 2020 report, the status epilepticus incidence in patients of all ages in the United States ranged from around 18.3 – 41 per 100,000 individuals every year. This has caused an increasing burden of the neurological disease among patients in turn fuelling the demand for epilepsy devices in the country. In addition, presence of major players in the epilepsy devices market in North America is another aspect influencing market growth. This can be attributed towards macroeconomic factors such as strong economic growth, robust healthcare infrastructure, rising GDP per capita and favourable government support.

Moreover, these players have been investing in research and development to launch advanced epilepsy devices and are gaining approvals for their commercialization from authorities. For instance, BioSerenity received a 510(K) clearance for EEG (electroencephalography) wearable device from US Food and Drug Administration in January 2021. This clearance includes the company’s IceCap EEG wearable device and Neuronaute EEG system which enable physicians to remotely monitor and analyse electrical brain activity of patients suffering from epilepsy. This factor continues to influence the epilepsy devices market in North America. On the other hand, emerging economies in Asia Pacific are also poised to showcase high lucrativeness for the epilepsy devices market. This is mainly owing to rising patient pool coupled with increasing population, stable economic growth and rising economic burden caused due to the neurological disease.

Epilepsy Devices Market: Competitive Landscape

New product launches, collaborations, and partnerships have been observed in the epilepsy devices market. For instance, in January 2022, new electromyography (EMG) product was launched by Cadwell Industries. Same time the company also introduced the Pudendal Stimulating and Recording Electrode that is used to evaluate the Pudendal Nerve Terminal Motor Latency (PNTML). This new launch will help the company in strengthening its EMG portfolio and its position in the market. In January 2021, disposable EEG electrodes were launched by Nihon Kohden to prevent the possibilities of cross-contamination between healthcare workers and patients while maintaining superior quality EEG signals. Same year in February, Premier Inc., and BioSerenity entered a partnership in which BioSerenity would be Premier’s contracted provider serving around 4000 hospitals in the United States. 

A few of the major players in the epilepsy devices market include Cadwell Industries, Medpage Limited, Emlift Corporation, Abbott Laboratories, LivaNova Plc, Boston Scientific Corporation, Medtronic Plc, Natus Medical Incorporated, and Masimo Corporation.

The Global Epilepsy Devices Market is Segmented as Below:

By Product Type

• Wearable Epilepsy Devices
• Conventional Epilepsy Devices
• EEG
• EKG
• sEMG
• Video Detection Systems
• Others

By Technology

• Deep Brain Stimulation
• Accelerometry
• Vagus Nerve Stimulation
• Responsive Neurostimulation

By End User

• Hospitals
• Clinics
• Diagnostic Centers
• Neurology Centers
• Home Care Settings
• Others

By Region

• North America

• U.S.
• Canada
• Mexico

• Europe

• UK
• France
• Germany
• Russia
• Rest of Europe

• Asia Pacific

• Japan
• South Korea
• India
• China
• Rest of Asia-Pacific

• LAMEA

• Latin America
• Middle East
• Africa

Key Elements Included In The Study: Global Epilepsy Devices Market

• Epilepsy Devices Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value and Volume, 2019 - 2022
• Volume Consumption at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value and Volume, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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Disclaimer:

• The segmentation/company profiles/countries depicted above may vary in the actual report.