The latest market report published by Credence Research, Inc. “Global EEG Equipment Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global EEG equipment market is set to reach from US$ 760.1 Mn in 2017 to US$ 1,457.3 Mn by 2026 expanding at a CAGR of 7.5% from 2018 to 2026.
Electroencephalography has made it possible for researchers to study and understand the complexity of brain activity, processes and structure. EEG has tremendous temporal resolution ranging in milliseconds. The advantageous features associated with EEG techniques are is its relevant tolerability to patients movement in comparison to other neuroimaging techniques where slight physical movement result in erroneous interpretations. It is a silent procedure which helps to understand the responses to auditory stimuli. Researchers are working diligently for the development of wireless EEG by using headsets rather than electrodes.
32-channel EEG devices are leading the product segment for EEG equipment market. Higher adoption by healthcare professionals and latest technical modification have led to the increased popularity for 32-channel EEG devices. Multichannel EEG devices will be the fastest growing market owing to inherent features associated with it such as ability to create histograms and spectrum reviews to generate quantitative analysis for cerebral activity.
Standalone devices are currently reigning the type segment for EEG equipment market. Rampant growth in mental hospitals and diagnostic centers boost the standalone devices market growth. Effective monitoring and easy device management are few attributes that support the standalone devices market growth. Portable devices will be the new trendsetter during the forecast period from 2018 to 2026 on account of increasing demand from rehabilitation centers. Excellent ergonomic designs and low cost propel the portable devices market growth.
North America is currently dominating the geographical segment for EEG equipment market. The major parameters responsible for the growth of EEG equipment in North America are increasing number of people suffering with seizures and Epilepsy. Center for Disease Control and Prevention has reported that in 2015, approximately 1.2% of the US population had been diagnosed with active epilepsy. Rapidly increasing clinics and diagnostic centers drive the market growth of EEG equipment in North America. World Health Organization (WHO) have quoted the prevalence of active epilepsy in Europe to be 4 to 10 per thousand people. Asia Pacific serves as a potential market for the growth of EEG devices on account of rising prevalence of patients suffering with psychological disorders and government funding to develop mental healthcare centers.
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.
Key Market Movements:
- Rising prevalence of neurological disorders
- Technological advancement in the devices employed for the detection and measurement of cerebral activity
- Rapid growth in hospitals, diagnostic centers and rehabilitations centers to provide a positive impetus towards EEG equipment market growth
Browse the full report EEG Equipment Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/eeg-equipment-market