GLOBAL EPILEPSY MONITORING DEVICES MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

The lack of skilled professionals is a major challenge restraining the growth of the global epilepsy monitoring devices market. Epilepsy is a complex neurological condition that requires advanced expertise for effective diagnosis and management. However, there is a shortage of neurologists and epileptologists worldwide who have specialized training in epilepsy care. The use of advanced epilepsy monitoring devices can improve detection and treatment of seizures. However, the skills to interpret electroencephalogram readings and other diagnostic data gathered from these devices requires specialized postgraduate training, which lack in many parts of the world. Even in countries with adequate numbers of neurologists and availability of technology, there is often a lack of trained technicians and nurses who can assist physicians and expand epilepsy care programs. Unless more trained professionals are available worldwide through focused educational initiatives, many regions will not be able to take full advantage of new diagnostic and treatment options emerging in the epilepsy monitoring devices market. This shortage of skilled workforce is a major barrier negatively impacting the market growth.

Market Opportunities – Increasing Investments

Increasing investments for the development of epilepsy monitoring devices is expected to offer the lucrative opportunities in the market. For instance, in November 2021, Neurava, a startup located in the U.S., announced that it had received more than US$ 650,000 in seed funding for the development of wearable device to monitor and alert for the impending risk of sudden, unexpected death in epilepsy (SUDEP). The funding was led by Elevate Ventures with participation from Purdue Foundry, First Leaf Capital, UCB Biopharma, iO Life Ventures and angel investors.