The global electroencephalography (EEG) devices market size is expected to reach USD 2.03 billion by 2028 according to a new study by Report Ocean. The report “Electroencephalography (EEG) Devices Market - By Modality (Portable, Standalone); By Application (Trauma & Surgery, Disease Diagnosis, Anesthesia Monitoring, Sleep Monitoring, Others); By Product; By End-Use; By Regions; Global opportunity analysis and industry forecast 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The standalone segment dominated the global market for electroencephalography devices in 2020. However, the demand for portable EEG devices market is expected to increase during the forecast period. Portable electroencephalography (EEG) devices are increasingly being used in ambulatory centers and homecare of patients. Some benefits associated with the portable market segment include reduced costs, mobility, lightweight, shorter installation time, and reduced traveling for patients.
The different applications of electroencephalography devices include trauma and surgery, disease diagnosis, anesthesia monitoring, sleep monitoring, and others. Electroencephalography devices are increasingly being used for disease diagnoses such as brain tumors, brain damage from a head injury, brain dysfunction, inflammation of the brain, and strokes among others.
Electroencephalography devices enable doctors to diagnose the disease and determine the stage, plan treatment, and track treatment progress. The detailed information provided by these devices enables neurologists to offer an effective treatment.
The 32-channel EEG market segment dominated the global market for electroencephalography devices in 2020. The need for high scan speed, enhanced efficiency, and improved patient experience has increased the adoption of 32-channel EEG devices. The growing need to perform a neurological scan, increasing geriatric population, and rising healthcare expenditure in developing countries, such as India, China, and Japan, boost the adoption of electroencephalography systems.
Electroencephalography devices are used in hospitals, clinics, diagnostic centers, research laboratories, and others. The hospital market segment accounted for the highest share in 2020. The increasing occurrence of neurological diseases coupled with government initiatives to offer advanced healthcare services to citizens supports the growth of this segment. Availability of advanced equipment and financial funds, supportive government initiatives, and the introduction of medical schemes have increased the adoption of electroencephalography devices in hospitals.
North America dominated the global market for electroencephalography devices in 2020 and is expected to maintain its dominance over the forecast period. The rising occurrence of neurological diseases, availability of technologically advanced equipment, and presence of well-established healthcare infrastructure increase the demand for electroencephalography devices in North America.
Asia Pacific market is expected to experience significant growth during the forecast period owing to the growing population, increasing health awareness, and rising spending on healthcare. Leading global players are expanding their presence in developing nations of China, Japan, India, and South Korea to tap the growth opportunities offered by these countries.
Major Players:
Some of the major market participants include Medtronic, Cadwell Laboratories, Inc., Neurosoft Ltd., Compumedics Ltd., Elekta AB, NeuroWave Systems, Inc., Electrical Geodesics, Inc., BrainScope Company Inc., Koninklijke Philips, Natus Medical, Inc., Nihon Kohden America, Inc., Noraxon U.S.A., Inc., Lifelines Neurodiagnostic Systems Inc., Bio-Signal Group Corp., Jordan NeuroScience Inc., and Cephalon A/S.
Segmentation:
Electroencephalography (EEG) Devices Product Outlook (Revenue, USD Million, 2016 – 2028)
Electroencephalography (EEG) Devices Modality Outlook (Revenue, USD Million, 2016 – 2028)
Electroencephalography (EEG) Devices Application Outlook (Revenue, USD Million, 2016 – 2028)
Electroencephalography (EEG) Devices End-Use Outlook (Revenue, USD Million, 2016 – 2028)
Electroencephalography (EEG) Devices Regional Outlook (Revenue, USD Million, 2016 – 2028)
