Product Code: RP-ID-10352074 |
Published Date: 21 Oct 2022 |
Region: NA |
Category: Industrial Automation & Equipment |
Report ID: 10352074
Market Overview:
Global EEG Equipment Market Analysis & Outlook 2030
The global EEG market is estimated to be valued at USD 1 billion in 2021 and is projected to grow at a CAGR of 9% during the forecast period 2022-2030. Increased prevalence and awareness of neurological disorders are important factors for development. The main reason for the increasing use of EEG machines is the high prevalence of Alzheimer's disease, epilepsy, dementia, multiple sclerosis, Parkinson's disease, and stroke. According to the Alzheimer;s Disease Association, approximately 5.7 million Americans were diagnosed with Alzheimers in 2018. It is also estimated that by 2050, more than half of the population over the age of 65 will have dementia. According to the association, more than 5,000 Americans are diagnosed with amyotrophic lateral sclerosis (ALS) each year, and that number is expected to double in the near future.
Stroke is the fifth leading cause of death in the United States, according to the Centers for Disease Control and Prevention (CDC) stroke estimates. Since EEG was 187.1 in the United States, this fact reflects the high prevalence of diseases that require continuous monitoring and treatment and the growing demand for EEG systems. According to the International Alzheimer's Disease Report, Alzheimer's cases are expected to increase by 226% in Southeast Asia, 345% in Africa and 248% in the United States. According to data from the same source, the number of people with Alzheimer;s worldwide will exceed 162.3 million by 2050. For example, improved health care systems are increasing the number of older people worldwide, facilitating further research and development in neuroscience. Takeda Partners with Denali Therapeutics for Alzheimers Treatment.
Product Information:
Based on product, the EEG device market is segmented into 32-channel EEG, 25-channel EEG, 8-channel EEG, 40-channel EEG, 21-channel EEG, and multi-channel EEG. In 2018, 32-channel EEG will be the largest selling segment and is expected to maintain the lead during the forecast period. Technological advancements in 32-channel EEG products and high acceptance by healthcare professionals are key growth drivers. In terms of sales, in 2018, the 32-channel EEG division was followed by the 25-channel EEG division and the 40-channel EEG division.
This segment is expected to see a significant CAGR over the forecast period. Enterprise products such as Nihon Kohdens Neurofax EEG-1200 sensing and monitoring platform are expected to grow in popularity in the future as multi-channel EEG systems record the brain;s electrical activity targeting neuropathy. , stroke and other treatments. diagnosing brain diseases and neoplasms; Companies that provide these products include Compumedics Limited (Neuvo 64-512 Channel LTM EEG, Grael LT EEG System, Grael 4K-EEG) and Natus Medical Inc. (Nicolet One and Xltek EEG Systems). Significant industry growth is expected during the forecast period.
According to the type of knowledge, the market is divided into standalone devices and wearable devices. Standalone devices accounted for the largest market share in 2020 sales, with standalone devices being the most commonly used EEG devices. The growing use of these devices in intensive care units is the main reason for their high revenue share. EEG systems are either fixed or integrated systems. These systems are primarily used in the hospital sector and include hardware and software solutions that enable clinicians to effectively interpret results. Electroencephalography (EEG) is used to record the electrical activity of the brain. An increasing number of neurological diseases such as tumors, cerebral palsy, stroke and other neurological disorders have forced many patients to be hospitalized for treatment. This has contributed significantly to the proliferation of standalone devices used in these environments. Portable EEG devices are portable in nature and can provide results similar to standalone devices. The device is widely used in ambulances and other related medical facilities where electrical activity of the brain needs to be measured to understand a patients condition.
Mobile systems are also being used in home care centers to treat patients with coma and other neuropathy, and the mobile device industry is expected to witness the highest annual growth rate during the forecast period. A key driver of growth is increasing manufacturers interest in technological advancements such as portability, light weight, and simultaneous access to raw data. Growing demand for mobile devices for clinical practice and outpatient research is also expected to remain strong in the industry.
End-use information:
Hospitals dominated the overall market in 2020 as the number of patients with TBI, epilepsy and other neuropathy increases. In addition, as interest in developing medical infrastructure in developing countries such as Asia, Oceania, and Africa increases, hospitalization of patients with brain injury and epilepsy is increasing, and hospitals occupy the top market share. , the region is growing. Above all. I have a neurological problem. Hospitals are end users of ECG machines because they need to record rhythm and electrical activity and accurately evaluate outcomes for diagnostic and research purposes. As such, this segment dominated the market in 2018 with high patient turnover and significant revenue.
Regional Outlook:
North America dominates the EEG market in 2018, followed by Europe, Asia and Oceania. Access to insurance, along with a high prevalence of various sleep disorders and neurological disorders, is an important driver of regional development. The region is also expected to see increased use of these systems due to its sophisticated healthcare infrastructure, strong sales and distribution networks of major suppliers, and favorable reimbursement policies in the United States.
The presence of government agencies such as the National Institute of Neurological Disorders and Strokes (NINDS), which funds research and development related to the treatment of neurological disorders, has helped dominate the local market. For designing medical systems. The establishment of several non-profit organizations, such as the European Multiple Sclerosis Platform (EMSP), aims to further strengthen the market. According to Emsp, around 9 million people in Europe suffer from neurological disorders.
The organization promotes research and data collection on multiple sclerosis, with a particular focus on raising awareness and accelerating development both within and outside Europe. Asia Pacific is projected to grow at a compound annual growth rate (CAGR) during the forecast period, owing to the growing elderly population in the region. Countries such as India and China are also experiencing untapped opportunities and rapid development of healthcare infrastructure.
EEG Devices Market Overview:
Some of the major players in the market are Netas Medical, Inc. Electro-Geodesy and Medtronic Corporation. NeuroWave Systems, Inc. Compumedix Ltd. Noraxon USA Cadwell Laboratories, Inc. Nihon Kohden USA, the market for EEG systems, is a large integrator of public and private companies. This includes Compumedics Ltd. Included. Elmico Medicine, Electrogeological and Medtronic Corporation. NeuroWave Systems, Inc. Cadol Industries, Inc. and Japan Kuden Company. Electrical Geodesics, Inc. Same company as Medtronic. And Cadwell Industries, Inc. has a wide range of products that have a strong presence in the region. A broad product portfolio and new product development are key to supporting business growth. Large enterprises are implementing a variety of organic and mineral strategies, including new product development, collaboration, sourcing, integration and regional development, to meet the unmet needs of their customers. For example, in July 2016, Compumedics Ltd and Bestmed announced a new three-year marketing agreement for Compumedics; diagnostic and neuro-monitoring system in south-central China.
Segments This Report Covers:
The report forecasts global, regional and national revenue growth and provides an analysis of the latest industry trends and opportunities in each subsector from 2022-2030. This study ranks the key research reports into the global EEG report by product, type, end use and region. Product Forecast (Sales, Million Dollars, 2022-2030) 8 EEG Channel21 EEG25 EEG Channel32 EEG Channel40 Channel Multi-Channel EEG EEGTEG Outlook (Sales, US $1M, 2022-2030) Standalone Devices End-Use Mobile Devices (Sales, US$1M) dollar, 2022-2030) hospitals and other clinical centers.
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