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

Global Epilepsy Monitoring Devices Market Size and Trends

Global epilepsy monitoring devices market is estimated to be valued at USD 546.6 Mn in 2024, and is expected to reach USD 778.2 Mn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

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Increasing number of epilepsy cases globally can boost demand for advanced medical devices for epilepsy monitoring and diagnosis. Continuous technological advancements in medical devices industry has led to development of more accurate and easier to use epilepsy monitoring devices. Portable and wearable monitoring devices are gaining popularity among patients and healthcare providers due to benefits such as enhanced patient mobility and remote monitoring capabilities. Adoption of digital healthcare solutions and integration of Internet of Things (IoT) in medical devices is also expected to support the market growth during the forecast period. However, high costs associated with sophisticated epilepsy monitoring devices may hamper the market growth.

Market Driver – Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the market growth over the forecast period. For instance, in October 2023, Ceribell, Inc., a medical technology company, launched ClarityPro, an AI-based software algorithm within the Ceribell EEG system that analyzes EEG waveforms to diagnose electrographic status epilepticus (ESE). ClarityPro algorithm provides clinicians with unprecedented abilities to quickly and accurately detect, diagnose, and monitor electrographic status epilepticus in critically ill patients.

One of the major drivers of the global epilepsy monitoring devices market is rising prevalence of epilepsy globally. Epilepsy is a chronic noncommunicable disease of the brain that affects people of all ages. However, it is more common in children and older adults. For instance, according to the data published by the World Health Organization, an estimated 5 million people are diagnosed with epilepsy each year globally.