Brain Monitoring for Epilepsy Diseases Market Size (2023 - 2030)

The Global Brain Monitoring for Epilepsy Diseases Market was estimated to be worth USD 497.5 Million in 2022 and is projected to reach a value of USD 712.9 Million by 2030, growing at a CAGR of 4.6% during the forecast period 2023-2030.

Epilepsy is a neurological condition that causes individuals to have recurring, unprovoked seizures. During a seizure, the brain experiences a sudden burst of abnormal electrical activity. Generally, doctors diagnose epilepsy when someone has had two or more seizures with no other clear cause. Although anyone can develop epilepsy, it often occurs in young and older adults. Mild seizures can be hard to recognize and may last only a few seconds. During a more severe seizure, an individual may experience spasms and uncontrollable muscle twitches and may lose consciousness. After a seizure, the person may not remember what happened. Medication is usually used to treat epilepsy, but in some cases, surgery, devices, or changes in diet are also used. Epilepsy is currently the world's most common neurological disorder affecting individuals of all ages. Early diagnosis and treatment are vital for effective management, and individuals with epilepsy symptoms are increasingly using advanced monitoring devices to help with this. Physical examination, pathology tests, electroencephalography (EEG), and computed tomography (CT) are some of the tests and devices commonly used to diagnose and monitor epilepsy disease depending on the frequency and severity of seizures. These devices provide healthcare professionals with accurate and reliable results, which assist them in developing personalized treatment plans for each epilepsy-diagnosed patient that align with their symptoms. Wearable devices, such as smartwatches, smart rings, arm bands, and stick-on sensor patches, are increasingly developed as non-invasive measures of epilepsy disease. They are easy to wear and use and offer features, such as continuous monitoring, real-time seizure detection, and connectivity option to matched phones, which assist in notifying caregivers of immediate intervention when a seizure is detected. 

Global Brain Monitoring for Epilepsy Diseases Market Drivers:

The rising incidence of epilepsy is fueling the growth of the global brain monitoring for epilepsy diseases market.

Epilepsy is a chronic non-communicable brain disease that can affect any individual at any age. Fifty million people across the globe are affected by epilepsy, accounting for a significant portion of the global burden of the disease. The World Health Organization reports that every year around five million people worldwide are diagnosed with epilepsy disease. The incidence of epilepsy is higher in low- and middle-income countries, with rates of up to 139 per 100,000 people, in contrast to high-income countries, where rates are around 49 per 100,000 people. This discrepancy may be due to several factors, such as a higher risk of certain diseases like malaria or neurocysticercosis, a higher incidence of injuries related to traffic accidents or childbirth, and differences in the availability and quality of medical care. In countries with higher incomes, there is easy access to preventive health programs and better medical infrastructure, resulting in a lower incidence of epilepsy. People with epilepsy are at a higher risk of premature death than the general population, with up to three times greater risk. Therefore, this factor drives the demand for brain monitoring devices for epilepsy diseases.

The increasing government investments in the treatment of epilepsy are another factor contributing to the growth of the global brain monitoring for epilepsy diseases market.

With epilepsy disease becoming the most common neurological disorder across the globe, the mortality rate has also increased. An improved understanding of these disorders has resulted from research on the underlying causes of epilepsies, including the identification of genes for some forms of epilepsy. This improved understanding may lead to better treatments or ways to prevent epilepsy in the future. The reduction of epilepsy-related deaths, improvements in patient’s quality of life, and fewer seizures are the main focus areas of the government. Advanced medical imaging systems, cognitive and genetic data, individualized treatment plans, and, if necessary, a skilled surgical team can all help achieve this. As a result, the governments of several nations are investing highly in epilepsy projects in order to improve patient care and healthcare infrastructure. Therefore, this factor also drives the demand for brain monitoring devices for epilepsy diseases.

Global Brain Monitoring for Epilepsy Diseases Market Challenges:

The global brain monitoring for epilepsy diseases market is encountering challenges, primarily in terms of the epilepsy treatment gap in low- and middle-income countries and the high cost and complexity associated with epilepsy monitoring devices. Low- and middle-income countries have the highest number of people with epilepsy disease. Due to the inaccessibility of specialized doctors, the unaffordability of medicines, and the belief that epilepsy is not a medical condition, there is a treatment gap for epilepsy disease in these countries. Moreover, the procedures that involve the use of brain monitoring devices for diagnosing epilepsy generally cost a lot of money, and they are extremely complicated. Healthcare facilities, even in developed countries that have widely adopted advanced medical equipment, are struggling to obtain brain monitoring devices, such as Magnetoencephalography (MEG), owing to their high cost. On top of that, the costs associated with maintaining the devices and other indirect expenses add up and make it even more difficult for these facilities to use them. Thus, these challenges inhibit the growth of the global brain monitoring for epilepsy diseases market.

Global Brain Monitoring for Epilepsy Diseases Market Opportunities:

The development of non-invasive brain monitoring devices for epilepsy disease presents a lucrative opportunity in the global brain monitoring devices for epilepsy diseases market. Given the rising demand for brain monitoring for epilepsy disease due to the increasing prevalence of epilepsy and the increasing government investments towards the treatment of this disease, companies specializing in epilepsy monitoring devices can stand to gain significantly from this opportunity by developing non-invasive brain monitoring devices, which are easy to use, less risky, and more comfortable for patients in contrast to invasive monitoring devices. This development will help the companies to increase their customer base and boost their overall revenue.

COVID-19 Impact on the Global Brain Monitoring for Epilepsy Diseases Market:

The outbreak of the COVID-19 pandemic substantially impacted the global brain monitoring for epilepsy diseases market. The implementation of strict lockdowns, traveling restrictions, and social distancing measures across several nations hindered many companies' manufacturing capacities and caused a shortage of skilled workforce. The pandemic caused disruptions in supply chains and distribution of goods and services, which highly affected the production and distribution of brain monitoring devices for epilepsy diseases. Moreover, the shifted focus of healthcare infrastructure resources and personnel to COVID-19 testing and treatment further worsened the demand for brain monitoring devices for epilepsy diseases. These factors negatively impacted the growth of the global brain monitoring for epilepsy diseases market. Despite these challenges, the global brain monitoring for epilepsy diseases market is projected to recover and grow in the coming years.

Global Brain Monitoring for Epilepsy Diseases Market Recent Developments:

• In September 2022, Ceribell EEG, a US-based fast-growing venture-backed medical device start-up company, raised USD 50 million for the expansion of its AI-powered EEG headset, a seizure monitoring and detection technology, in emergency rooms and intensive care units while also contributing to the funding of the technology's ongoing development for use in a variety of neurological conditions.
• In September 2022, Seer Medical, an Australia-based leading epilepsy diagnostics service provider, received FDA 510(k) clearance for its at-home EEG system, Seer Home, which assists providers diagnose epilepsy.  
• In February 2022, Epitel, Inc., a digital health company based in the United States working on a wearable, wireless platform for EEG monitoring with the goal of making affordable, reliable, and accessible seizure detection, unveiled that it had closed a USD 12.5 million Series A financing for its proprietary platform's initial pilot commercialization and further development. REMI®, a wireless and wearable EEG (brain wave monitor) sensor and remote access software for use in hospital emergency rooms and critical care units, was approved by the FDA for Epitel's initial product. 

BRAIN MONITORING FOR EPILEPSY DISEASES MARKET REPORT COVERAGE:

Global Brain Monitoring for Epilepsy Diseases Market Segmentation: By Product Type

• Conventional Devices

• Wearable Devices

In 2022, the conventional devices segment held the highest market share. The growth can be attributed to the widespread adoption of conventional devices in hospitals, clinics, and diagnostic centers. Conventional devices, such as electroencephalography (EEG), electromyography (EMG), and magnetoencephalography (MEG), are considered the gold standard for diagnosing and monitoring epilepsy disease. They have been used for many years owing to their high accuracy and reliability in diagnosing numerous brain conditions. 

Global Brain Monitoring for Epilepsy Diseases Market Segmentation: By Technology

• Accelerometry

• Deep Brain Stimulation

• Responsive Neurostimulation

• Vagus Nerve Stimulation

In 2022, the deep brain stimulation segment held the highest market share. The growth can be attributed to deep brain stimulation being an effective technology for controlling and treating seizures by giving electrical stimulation to brain areas involved in seizures. The excitability of specific brain circuits is affected by these electrical currents, which assist in preventing seizures or reducing their frequency. Additionally, this technology has the ability to gather and transmit data from the brain, which can assist the epilepsy treatment team in making other treatment decisions.

Global Brain Monitoring for Epilepsy Diseases Market Segmentation: By End User

• Ambulatory Surgical Centers & Clinics

• Diagnostic Centers

• Homecare Settings

• Hospitals

• Neurology Centers

• Others

Based on the end user, the global brain monitoring for epilepsy diseases market is segmented into ambulatory surgical centers and clinics, diagnostic centers, homecare settings, hospitals, neurology centers, and others. In 2022, the hospital segment held the largest market share. The growth can be attributed to hospitals being the most common medium for diagnosing and monitoring epilepsy disease. Hospitals are well-equipped to handle complicated cases and provide epilepsy patients with comprehensive care.

 Global Brain Monitoring for Epilepsy Diseases Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• South America

• Middle East & Africa

North America dominated the global brain monitoring for epilepsy diseases market in the year 2022. The well-established healthcare infrastructure in nations, such as the United States and Canada, the high adoption rate of advanced epilepsy monitoring devices, the increasing demand for home-based brain monitoring solutions for epilepsy diseases, and the increased emphasis on patient-centered care are some of the factors propelling the region's growth. Additionally, the region is home to several significant market players, including Cadwell Industries, Inc., NeuroWave Systems, Inc., Masimo Corporation, Advanced Brain Monitoring, Inc., and Boston Scientific Corporation. Due to the increasing awareness of epilepsy disease, the rising healthcare expenditure, and the strong presence of several major market players, including Nihon Kohden Corporation, Compumedics Limited, and Mindray Medical International Ltd., the region of Asia-Pacific is anticipated to expand at the quickest rate over the forecast period.

Global Brain Monitoring for Epilepsy Diseases Market Key Players:

1. Medtronic plc (Ireland)

2. Cadwell Industries, Inc. (United States)

3. Nihon Kohden Corporation (Japan)

4. Compumedics Limited (Australia)

5. Natus Medical, Inc. (United States)

6. NeuroWave Systems, Inc. (United States)

7. Masimo Corporation (United States)

8. Empatica Inc. (United States)

9. Advanced Brain Monitoring, Inc. (United States)

10. Boston Scientific Corporation (United States)