Wilmington, Delaware, United States: According to Transparency Market Research’s latest market report on the epilepsy monitoring devices market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in the prevalence of epilepsy, and increase in incidence of head injuries, brain cancer, infections, and substance abuse are anticipated to drive the global epilepsy monitoring devices market.
Wilmington, Delaware, United States: According to Transparency Market Research’s latest market report on the epilepsy monitoring devices market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in the prevalence of epilepsy, and increase in incidence of head injuries, brain cancer, infections, and substance abuse are anticipated to drive the global epilepsy monitoring devices market.
According to the report, the global epilepsy monitoring devices market was valued at ~US$ 530 Mn in 2018. The epilepsy monitoring devices market is projected to expand at a CAGR of ~6% from 2019 to 2027.
Rise in Prevalence of Epilepsy: A Key Driver
According to the WHO, epilepsy accounts for a considerable proportion of the world’s disease burden; globally, more than 50 million people are affected by this disease. The projected proportion of the general population suffering from active epilepsy (i.e. recurring seizures or with the requirement for treatment) at a given time is between 4 and 10 per 1,000 people. However, some studies conducted in low- and middle-income countries suggest that, the proportion is higher, between 7 and 15 per 1,000 people, making it a highly common neurological disease. This, in turn, drives the global epilepsy monitoring devices market.
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According to the Mayo Foundation for Medical Education and Research (MFMER), for a majority of people with epilepsy, seizures can be controlled by treatment with medication, or sometimes, surgery. Some people may require lifelong treatment to control seizures. This factor propels the epilepsy monitoring devices market.
Genetic Factors Associated with Brain Malformations Propelling Market
The International League against Epilepsy (ILAE) Commission for Classification of Epilepsy divided epilepsies into three categories (genetic, structural/metabolic, unknown cause) according to the etiologies of epilepsy. Younger patients with epilepsy often show a genetic cause. Genetic factors account for around 30% of the causes in patients with epilepsy. In patients with ischemic stroke, genetic factors also contribute to the consequent epileptogenesis.
According to the WHO, in 60% to 70% patients (at least in developed countries) where no cause for epilepsy can be found, part of these people suffer from ‘idiopathic epilepsy’ (idiopathic = spontaneous, self-generated, genetic). If one parent has idiopathic epilepsy, the risk of a child developing epilepsy is 4% to 6%, as compared to a risk of 0.3% to 0.5% in the general population (Europe). If both parents have idiopathic epilepsy, the risk rises to 12% to 20%. Therefore, genetic factors associated with brain malformations boost the growth of the epilepsy monitoring devices market.
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Diagnostic Challenges to Hamper Global Epilepsy Monitoring Devices Market
According to NCBI, the diagnostic challenge comprises correctly interpreting the medical history, characteristics of the episodes, and physical and neurologic examination, and properly using & interpreting supplemental paraclinical tests.
Diagnosing epilepsy quickly can be challenging, as other conditions, such as fainting, migraines, and panic attacks can exhibit similar symptoms. It often cannot be confirmed until a person has had more than one seizure.
According to the Epilepsy Foundation of America, the diagnosis of psychiatric disorders in a patient with developmental disabilities (DDs) can be highly difficult, as much of a psychiatric evaluation is predicted on verbal reports of internal states, an evaluator may be very hampered and in unfamiliar territory to generate the accurate diagnosis. Consequently, a process of ‘diagnostic overshadowing’ may take place. This is likely to restrain the growth of the epilepsy monitoring devices market.
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Global Epilepsy Monitoring Devices Market: Competition Landscape
This report profiles major players in the global epilepsy monitoring devices market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments.
The epilepsy monitoring devices market is moderately fragmented, with the presence of a few large-scale players present in international markets and numerous small-scale players in regional markets. The top four to five players hold a majority share of the global epilepsy monitoring devices market.
Prominent players operating in the global epilepsy monitoring devices market include
- Compumedics Limited
- Empatica, Inc.
- Masimo Corporation
- PulseGuard International Ltd.
- Koninklijke Philips N.V.
- Medtronic plc
- Natus Medical Incorporated
- Nihon Kohden Corporation
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