eeg-equipment-market

EEG Equipment Market By Product (40-Channel EEG, 32-Channel EEG, 25-Channel EEG, 21-Channel EEG, 8-Channel EEG, Multichannel), By Type (Portable, Standalone) - Growth, Future Prospects & Competitive Analysis, 2021 – 2029

16 Dec 2018 Format PDF icon PPT icon XLS icon Request Sample

Industry Outlook

The EEG equipment market in 2020 was US$ 760.1 Mn and is expected to reach US$ 1,785.1 Mn by 2029 exhibiting growth at a compounded annual growth rate (CAGR) of 7.5% during the forecast period from 2021 to 2029. Electroencephalography (EEG) is the evaluation of the electrical activity taking place in the brain. It is used for the detection of neurological disorders such as seizures, epilepsy and other psychological ailments. The electrodes are usually placed on the scalp, subdural or the cerebral cortex etc. Quantitative EEG technique are very useful to guide psychiatrist regarding the use of antiepileptic drugs when compared to other psychotropic drugs irrespective of the psychiatric symptoms. Data obtained from EEG studies are useful to suggest methods to boost neural activity either through psychotherapy or magnetic stimulation on the cortex region.

EEG Equipment Market

"Technological advancement and higher adoption rate by healthcare professionals to drive the 32-channel EEG device"

In the current scenario 32 channel EEG devices are leading the product segment for EEG equipment market. The major attributes responsible for its impressive growth are latest technological modification and higher adoption rate by healthcare professionals to monitor brain activities. The inherent features associated with 32-channel devices are onboard 3D accelerometer and trigger units, water based electrodes, confiCap configuration to change signal pattern for tracking different neurological disorders. Multichannel EEG devices will be the fastest growing in the product segment. The important features related to multichannel channel EEG device are portability, ability to create simultaneous historgrams and spectrum reviews associated with cerebral activity.

"Rapidly growing hospitals and diagnostic centers to drive the standalone EEG equipment market"

Standalone devices are leading the type segment for EEG equipment. The major parameters responsible for the rising demand of standalone devices are rapid growth in the number of hospitals and diagnostic centers specializing in the treatment of neurological disorders. The advantages associated with standalone EEG equipment are the ability to maintain and store the electronic heath records of mentally ill patients for future references, effective monitoring and easy device management. Potable EEG devices are gaining tremendous attention on account of increasing demand from ambulatory care centers and rehabilitation centers specializing in the treatment of mental illness. Excellent ergonomic design and low cost provide positive impetus to the portable EEG equipment market growth.

"Rising prevalence of mental illness and technological development to drive EEG equipment market in North America"

North America is currently dominating the regional segment for EEG equipment market. As per the data provided by Center for Disease Control and Prevention (CDC) in 2015, approximately 3.4 million U.S. citizens were suffering with active epilepsy. Rising prevalence of neurodegenerative disorders and technological development in the EEG equipment drive the EEG equipment market growth in North America. As per the latest research citing of World Health Organization (WHO) about 6 million people are suffering with epilepsy and seizures in Europe. Rapidly increasing diagnostic centers also propel the EEG equipment market growth in Europe. Asia Pacific is set to register magnificent growth during the forecast period from 2021 to 2029. The key factors responsible for the growth are rising prevalence of mental illness and developing healthcare infrastructure. It serves as a lucrative market opportunity for market leaders to establish retail outlets and subsidiaries pertaining to EEG equipment.

The medical device manufacturers actively engaged in the production of EEG equipment market are Cadwell Laboratories, Inc., Electrical Geodesics, Inc., Compumedics, Ltd., G.Tec Medical Engineering GmbH, Koninklijke Philips N.V., Medtronic, Plc., Natus Medical, Inc., NeuroWave Systems, Inc., Nihon Kohden, Inc. and Noraxon U.S.A., Inc.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of EEG Equipment market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the EEG Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Product
  • 40-Channel EEG
  • 32-Channel EEG
  • 25-Channel EEG
  • 21-Channel EEG
  • 8-Channel EEG
  • Multichannel

Type
  • Portable
  • Standalone

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of EEG Equipment market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the EEG Equipment market?
  • Which is the largest regional market for EEG Equipment market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving EEG Equipment market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the EEG Equipment market worldwide?
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