The technique used to identify and map brain activities using
electrodes is called electroencephalography, which is a
non-invasive and time-saving technique that benefits both medical
professionals and patients. Different neurological disorders, like
Alzheimer's and Parkinson's, can be detected.
WILMINGTON, Del., July 16, 2024 /PRNewswire/ -- Owing to
different key contributing factors, the electroencephalography
device market is expected to advance through the forecasted era at
a promising CAGR of 9.6%. This advancement is expected to
benefit key players in the industry. The growth of such
manufacturers will result in the size enlargement of the sector,
ensuring the industry reaches USD 4.7
billion by 2034. The last recorded size of the realm in
2023 was USD 1.7 billion.
With the rising prevalence of neurological disorders, the
necessity to employ key diagnostics methods emerges. Due to this,
many medical professionals are seen to be inclined toward using
efficient as well as accurate methods that can deliver optimum
results.
Electroencephalography generates a precise diagnosis of
electrical activities in the brain, predicting the neurological
disorders in patients. The growing number of patients affected by
such a disorder is influencing the market positively.
The rising cases of brain tumors and other related diseases are
an indication of a better future for the subject market. This is
because the use of EEG devices is useful in predicting and
diagnosing the infected part of the brain. As a result, the patient
can have a timely treatment.
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With the rising cases of brain injury during accidents, the
significance of such key devices can be observed. Healthcare
professionals use EEG devices to identify injured body parts,
leveraging better diagnosis.
With the growing preference for non-invasive treatments, more
patients have been inclined toward therapies and diagnostics
treatments that can reduce the abrasions on human skin. As a
result, this is another key driver for the industry.
Due to the ability to identify and monitor biosignals, the
detection and mapping of brain activity can simply be made using
electrodes. Such treatments save time and injuries during
surgeries. As a result, this factor influences the prospects for
the test.
With the growing investments in the healthcare sector, leading
manufacturers can research extensively to reduce the error margins
in EEG devices. This drives the demand for such devices, driving
the industry. The rising initiatives of governments in bolstering
the healthcare infrastructure have been another key driver for the
electroencephalography device market.
Electroencephalography Devices Market Report
Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 1.7 Bn
|
Forecast (Value) in
2034
|
US$ 4.7 Bn
|
Growth Rate
(CAGR)
|
9.6 %
|
No. of
Pages
|
176
Pages
|
Segments
covered
|
By Product Type, By
Portability, By Region, By End-user
|
Key Findings from the Market Report
- The electroencephalography device market is segmented into
different categories, depending on key parameters. Based on the
product type, 8-channel electroencephalography is expected to gain
more traction due to the enhanced data quality and precision.
- 40-channel electroencephalography is expected to gain
popularity due to the ability of devices to produce high-quality
brain activity mapping. This helps medical professionals produce
crisp images, and diagnose the disease better.
- Based on portability, the standalone devices category is
expected to gain popularity due to the rising demand for portable
devices. With devices being more user-friendly, standalone devices
will gain more attention.
- With the cutting-edge facilities in hospitals, the scope of
using such devices is higher. As a result, this category in the
end-user industry will likely gain more demand.
Regional Profile
- The electroencephalography device market can find better
prospects in North America due to
enhanced technological infrastructure.
- Due to the growing research activities in Europe, the sector will likely observe more
opportunities.
- The growing prevalence of neurological disorders in
Asia-Pacific generates more
prospects for the sector.
Competitive Landscape
The electroencephalography device market is highly cluttered
with the presence of numerous key players. Such players are
observed to expand using different strategies, including
partnerships, acquisitions, and product launches.
- Natus Medical Incorporated manufactures different software,
including Natus NeuroWorks EEG Software, Brain Quick EEG Software,
and many more.
- Medtronic plc is another key player known for producing
ablation systems, cardiac monitors, cardiac mapping products, and
many more.
- NeuroWave Systems Inc. manufactures many equipment, including
NeuroSENSE NS-901 Monitor, NeuroSENSE OEM Module, and so on.
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Key Players
- Electrical Geodesics, Inc.
- Natus Medical Incorporated
- Medtronic plc
- NeuroWave Systems Inc.
- Compumedics Ltd.
- Noraxon U.S.A., Inc.
- Cadwell Laboratories, Inc.
- Nihon Kohden America Inc.
- Cephalon A/S
- Koninklijke Philips N.V.
- General Electric Company
Key Developments in the Electroencephalography Device
Market
- In January 2023, Natus Medical
Incorporated acquired Micromed Holding SAS. This strategic move
helped the organization consolidate the position in the
industry.
- In April 2024, Medtronic plc
launched the Medtronic Sphere-360 Pulse Field Ablation (PFA)
catheter. The product delivered optimum results in treating
paroxysmal atrial fibrillation.
Market Segmentation
Product Type
- 8-channel
- 21-channel
- 25-channel
- 32-channel
- 40-channel
- Multi-channel
Portability
- Standalone Devices
- Portable Devices
End User
- Hospitals
- Diagnostic Laboratories
- Others (Research Institutes, etc.)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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