North America Epilepsy Monitoring Devices Market, By Product Type (Wearable Devices, Smart Devices, and Conventional Devices), Type (Focal Seizures, and Generalized Seizures), Patient Type (Paediatric, Geriatric, and Adults), End User (Hospitals, Homecare Setting, Neurology Centres, Diagnostic Centres, Ambulatory Surgical Centres & Clinics, and Others), Distribution Channel (Retail Sales, Online Sales, Direct Tenders, and Others) - Industry Trends and Forecast to 2030.
North America Epilepsy Monitoring Devices Market Analysis Size
The increasing demand for wearable epilepsy monitoring devices is helping to boost the overall market growth. The growing government investments in epilepsy projects also contribute to market growth. The major market players are highly focused on developing various new epilepsy monitoring devices. In addition, the rising prevalence of epilepsy is also contributing to the rising demand for the market.
North America epilepsy monitoring devices market is expected to gain market growth in the forecast period of 2023 to 2030. Data Bridge Market Research analyzes that the market is growing with a CAGR of 5.8% in the forecast period of 2023 to 2030 and is expected to reach USD 659.99 million by 2030.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Year
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2021 (Customizable to 2020-2015)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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By Product Type (Wearable Devices, Smart Devices, and Conventional Devices), Type (Focal Seizures, and Generalized Seizures), Patient Type (Paediatric, Geriatric, and Adults), End User (Hospitals, Homecare Setting, Neurology Centres, Diagnostic Centres, Ambulatory Surgical Centres & Clinics, and Others), Distribution Channel (Retail Sales, Online Sales, Direct Tenders, and Others)
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Countries Covered
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U.S., Canada and Mexico
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Market Players Covered
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NIHON KOHDEN CORPORATION., Masimo, Apple Inc., Natus Medical Incorporated., Owlet, Neurotech, LLC, SmartMonitor, and Epilert, among others.
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Market Definition
Epilepsy is a central nervous system (neurological) disorder in which brain activity becomes abnormal, causing seizures or periods of unusual behavior, sensations and sometimes loss of awareness. Epileptic seizures can vary from brief and nearly undetectable periods to long periods of vigorous shaking due to abnormal electrical activity in the brain. The most common type of seizure is convulsive, which involves involuntary muscle contractions.
Tonic-clonic seizures occur with a contraction of the limbs followed by their extension and arching of the back, which lasts 10–30 seconds. Myoclonic seizures involve very brief spasms of muscles in either a few areas or all over.
North America Epilepsy Monitoring Devices Market Dynamics
Drivers
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Rising prevalence of epilepsy
Epilepsy is a neurological condition that causes unprovoked, recurrent seizures. A seizure is a sudden rush of abnormal electrical activity in the brain. Doctors diagnose epilepsy when someone has two or more seizures with no other identifiable cause. Anyone can develop epilepsy, but it most commonly onsets in young and older adults. A mild seizure may be difficult to recognize. It may only last a few seconds, and the individual may remain awake while it happens. Stronger seizures can cause spasms and uncontrollable muscle twitches. They can last from a few seconds to several minutes and may cause confusion or loss of consciousness. Afterward, the individual may have no memory of a seizure happening.
Epilepsy has become the world’s most common neurological disorder among every age group. As epilepsy can be treated if diagnosed early, people with epilepsy symptoms are more focused on its diagnosis & treatment by using various technologically advanced monitoring devices. As a result, the demand for epilepsy monitoring devices is increasing & hence, the rising prevalence of epilepsy is driving the growth of the North America epilepsy monitoring devices market.
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Growing preference for wearable epilepsy monitoring devices
It is a major challenge in clinical epilepsy to diagnose and treat a disease characterized by infrequent seizures based on patient or caregiver reports and limited-duration clinical testing. The poor reliability of self-reported seizure diaries for many people with epilepsy is well-established, but these records remain necessary in clinical care and therapeutic studies.
Several wearable devices have emerged which are capable of detecting seizures, recording seizure data and alerting caregivers. Wearable devices may also facilitate reliable forecasts of seizure likelihood, providing the potential for people with epilepsy to take fast-acting medications or modify activities in anticipation of an impending seizure. Therefore, wearable sensing devices are increasing in popularity both in the general community & through medical applications. Hence, the growing preference for wearable epilepsy monitoring devices is driving the growth of the North America epilepsy monitoring devices market.
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Rising government investments in the epilepsy project
Epilepsy has become the world’s most common neurological disorder, and so has the mortality rate. Research on the underlying causes of epilepsies, including the identification of genes for some forms of epilepsy, has led to a greatly improved understanding of these disorders that may lead to treatments that are more effective or even to new ways of preventing epilepsy in the future.
Government is more focused on fewer deaths, a better quality of life for patients suffering from epilepsy and fewer seizures. This can be possible with the combination of advanced imaging, cognitive and genetic data, personalized treatment plans and a skilled surgical team where necessary. Hence, the government is investing more in epilepsy projects to enhance the infrastructure and better care for patients. Therefore, it can be a driving factor for the growth of the North America epilepsy monitoring devices market.
Opportunities
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Rise in technological advancement in the disease monitoring device
With the advent of time, medical devices have undergone various technological changes. The advancement in disease-monitoring medical devices includes using flexible electronics such as thin flaps or skin patches for the accurate and real-time monitoring of vital signs. The validation and accuracy of the recorded data by such devices are also enhanced by the upgradation of new operating software and hardware used in those devices. The advanced flaps-like monitoring system is manufactured by various key market leaders like Neurava, Neuronostics, Epilepsy Alarms and others. Instant and precise assessment of results coupled with the noteworthy existence of these devices due to advancements; escalate the customer preference and adoption rate of such devices. Thus, innovations leading to superior product characteristics and cost-effectivity will spur North America market expansion of epilepsy monitoring devices.
The innovation and advancement in technology have upgraded medical devices in all prospects, including battery life, light weightiness, advanced features like AI assistance, upgraded software, and wireless connectivity, among more. Technological advancement brings many advantages to the patient’s diagnosis and therapeutic uses with improvements in remote monitoring systems. Thus, the increased technological advancement boosts the growth of the North America epilepsy monitoring devices market.
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Increased demand for the non-invasive and minimally invasive device
An invasive device is a complicated, painful, and risky procedure, as it involves direct intervention with the brain tissue. Therefore, healthcare professionals and patients show a high inclination towards the use of non-invasive and minimally invasive devices. With rising awareness, more patients are opting for minimally invasive or non-invasive procedures. Epilepsy monitoring devices overcome the risks and pain associated with invasive brain monitoring. Many government initiatives also focus on reducing the risks related to treatment options for brain disorders.
Restraints/Challenges
- Poor reimbursement scenario
Reimbursement for all healthcare devices and services has been under downward pressure for several years. These devices also face a major roadblock in their growth due to the lack of reimbursement of these devices. The combination of wearable devices with AI, irrelevant data collection and security issues of medical devices pose a significant impact on these devices that leads to difficulty in a gain of reimbursement for such devices. The reimbursement of a device can significantly affect the ability of a provider to access a particular technology, as well as the willingness of a manufacturer to deliver it. If coverage is uncertain, the manufacturer has difficulty predicting whether an investment in new technology will yield enough returns. This lack of predictability is an apparent barrier to obtaining funding for the company. It further compromises innovation and restricts patient access to advanced technology and solutions.
Monitoring devices have become an important part of healthcare in terms of diagnosis and prognosis of chronic diseases. The increased application of monitoring devices in conditions like neurological, diabetes, obesity and cardiovascular issues, among more, makes it crucial for the healthcare facility. However, the high cost of such devices and the lack of proper reimbursement hampers the adoption rate of these medical devices. Thus, the lack of reimbursement acts as a challenge to the growth of the North America epilepsy monitoring market.
Post-COVID-19 Impact on North America Molecular Diagnostics Services Market
The post-COVID-19 has negatively affected the market. A large number of the population were affected by this pandemic. The supply of ophthalmic products has suffered a massive hit due to the North America pandemic of COVID-19. This reduction in supply is mainly due to various quarantine policies adopted by countries worldwide. This, along with the restrictions of movement and labor reduction, are the major reasons for a decreasing trend in the supply market of medical devices. This has affected the quality and efficacy of medical devices to a high extent. Reduction in the headcount of the labor force due to COVID-19 affliction is another factor contributing to the reduced supply of epilepsy monitoring devices.
Recent Developments
- In December 2022, NIHON KOHDEN CORPORATION announced that it would open a new sale branch of Nihon Kohden Singapore (NKS), one of its sales subsidiaries, aiming to apply for registration of medical devices smoothly and expand its sales in the Philippines
- In February 2022, Masimo announced its entry into a definitive merger agreement to acquire Viper Holdings Corporation, which owns Sound United (“Sound United”). This consumer technology company owns a portfolio of premium brands, including Bowers& Wilkins, Denon, Polk Audio and Marantz. Pursuant to the merger agreement, they had to pay approximately USD 1.025 billion, subject to adjustments, for the acquisition. This helps the organization generate more revenue
North America Epilepsy Monitoring Devices Market Scope
The North America epilepsy monitoring devices market is segmented into five notable segments based on product type, type, patient type, end user and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to make strategic decisions to identify core market applications.
By Product Type
- Wearable Devices
- Smart Devices
- Conventional Devices
On the basis of product type, the market is segmented into wearable devices, smart devices and conventional devices.
By Type
- Focal Seizures
- Generalized Seizures
On the basis of type, the market is segmented into focal seizures & generalized seizures.
By Patient Type
- Pediatric
- Geriatric
- Adults
On the basis of patient type, the market is segmented into pediatric, geriatric and adults.
By End User
- Hospitals
- Homecare Setting
- Neurology Centres
- Diagnostic Centres
- Ambulatory Surgical Centres & Clinics
- Others
On the basis of end users, the market is segmented into hospitals, homecare settings, neurology centres, diagnostic centres, ambulatory surgical centres & clinics and others.
By Distribution Channel
- Retail Sales
- Online Sales
- Direct Tenders
- Others
On the basis of distribution channel, the market is segmented into retail sales, online sales, direct tenders and others.
North America Epilepsy Monitoring Devices Market Regional Analysis/Insights
The North America epilepsy monitoring devices market is analyzed, and market size insights and trends are provided by country, product type, type, patient type, end user and distribution channel.
Countries covered in North America epilepsy monitoring devices market are U.S., Canada, Mexico.
U.S. dominates the North America epilepsy monitoring devices market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period.
The country section of the report also provides individual market-impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact on sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Epilepsy Monitoring Devices Market Share Analysis
The North America epilepsy monitoring devices market competitive landscape provides details by the competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies focus on the market.
Some of the major players operating in the North America epilepsy monitoring devices market are NIHON KOHDEN CORPORATION., Masimo, Apple Inc., Natus Medical Incorporated., Owlet, Neurotech, LLC, SmartMonitor, and Epilert, among others.
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