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| ElectroencephalographsMarket |
The global electroencephalographs market comprises medical devices used for measuring and recording electrical activity of the brain. Electroencephalographs (EEGs) are used to detect abnormalities related to brain functioning that can be caused due to conditions like epilepsy, brain tumors, head injuries or neurological disorders. EEG provides accurate and non-invasive diagnosis of various brain dysfunctions making it a preferred tool for neurologists. Advantages like portability and ability to detect acute and temporary changes in brain have increased adoption of EEG devices.
The global Electroencephalographs market is estimated to be valued at US$ 2919.86 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways
The
key opportunities in the Electroencephalographs
Market Size include increasing applications of EEG monitoring in
diagnosis of conditions like Alzheimer's disease, traumatic brain injury and
Parkinson's disease. Growing demand for ambulatory and home-based EEG devices
also presents an opportunity for market growth.
Key players operating in the electroencephalographs are HEYER Medical AG,
Medicom MTD, Draeger, Inc., Natus Medical Incorporated, Masimo, NeuroWave
Systems Inc., Brain Products, elmiko medical, CamNtech Ltd, Danmeter, Neurosoft
and MT MonitorTechnik GmbH & CO.KG. These players are focusing on new
product launches and gaining approvals to expand their product portfolios.
The global expansion is driven by companies focusing on untapped regions like
Asia Pacific and Latin America through partnerships and distribution
agreements. Favorable government policies supporting healthcare infrastructure
in emerging nations will further propel the market expansion.
Market Drivers - Increasing
prevalence of neurological disorders like epilepsy, Parkinson's disease, and
traumatic brain injuries is a key driver as it is raising the demand for EEG
monitoring. According to WHO, around 50 million people worldwide have epilepsy
making it one of the most common neurological conditions globally.
Market Restraints - High costs
associated with EEG devices and procedures can limit widespread adoption,
especially in price-sensitive developing regions. EEG interpretation also
requires trained professionals which is another challenge, particularly in
remote areas with limited access to neurologists and technicians.
Segment Analysis
The ambulatory electroencephalographs segment is dominating the market currently
owing to the increasing need for portable EEG devices for diagnosing
neurological conditions in ambulatory settings such as clinics. Advancements in
wireless monitoring capabilities of ambulatory EEG devices allows mobility and
has improved their adoption rate over stationary devices in recent years. The
16 channel EEG devices sub-segment holds a significant share currently due to
their widespread application in diagnosing general brain waves activity and
common neurological conditions. However, with technological enhancements, 32
channel and higher channel EEG systems offering more precise brain mapping are
expected to rise in demand going forward.
Global Analysis
The North American region dominates the global electroencephalographs market
currently due to presence of advanced healthcare infrastructure and
availability of skilled professionals to efficiently implement EEG procedures
in the region. Rising prevalence of neurological disorders and advanced
reimbursement policies are supplementing the market growth in North America. On
the other hand, Asia Pacific region is anticipated to witness the highest CAGR
over the forecast period owing to increasing healthcare expenditure, surge in
awareness regarding brain health and growing geriatric population in nations
such as China and India. Latin America and Middle East & Africa are also
expected to offer lucrative opportunities for players operating in the
electroencephalographs market during the forecast period.
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