The new report by Expert Market Research titled, ‘Electroencephalography Systems/Devices Global Market Size, Share, Report and Forecast 2023-2028’, gives an in-depth analysis of electroencephalography systems/devices market, assessing the market based on its segments like products, portability, end-use, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2020): USD 921.5 Million
- Forecast CAGR (2023-2028): 9.4%
Increasing prevalence and awareness of neurological disorders are the key factors for the growth of the market all across the globe. Chronic diseases such as Alzheimer’s, epilepsy, dementia, multiple sclerosis, Parkinson’s illness, and stroke have high incidence rates and the prevalence is increasing at a substantial rate. Therefore, it has increased the demand for electroencephalography (EEG) devices. Moreover, the high adoption of 32-channel EEG products by the healthcare professions due to their technological advancements is also a major reason for the market growth.
Electroencephalography Systems/Devices Market Industry Definition and Major Segments
Electroencephalography devices records and measures human brain-generated electrical activity and is used in clinical neurophysiology. It can also diagnose other issues connected with inappropriate brain or central nervous system. It includes coma, confusion, stroke, and tumours, among others along with issues such as epilepsy and seizures.
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By product, the market is segmented into:
- 8-channel EEG
- 21-channel EEG
- 25-channel EEG
- 32-channel EEG
- 40-channel EEG
- Multichannel EEG
The market, based on application, can be studied into:
- Standalone Devices
- Portable Devices
Based on End-Use, the market is further divided into
- Diagnostic Centers
The regional markets for the Global Electroencephalography Systems/Devices Market can be separated into:
- North America
- United States of America
- United Kingdom
- Asia Pacific
- Latin America
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- South Africa
Electroencephalography Systems/Devices Market Trends
The standalone device holds a major market share due to application in EEG form however, portable devices are expected to witness a lucrative growth rate during the forecast period. The ease of accessibility and better patient convenience will be some of the foremost reasons for the segmental growth. By region, Asia-Pacific is expected to witness a substantial growth rate owing to increasing awareness related to diseases, increasing healthcare expenditure, and rising medical tourism. The US will hold a substantial market share among all countries in the world.
Key Market Players
The major players in the market include Compumedics Ltd., Natus Medical, Inc., Electrical Geodesics, Inc., Medtronic, NeuroWave Systems, Inc., Noraxon U.S.A., Inc., Cadwell Laboratories, Inc., Nihon Kohden America, Inc. among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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