The most recent study conducted by Report Ocean, titled “Global Electroencephalography Equipment Market Size, Share, Pricing, Trends, Growth, Report and Forecast 2023-2030,” presents a comprehensive analysis of the worldwide market. This research delves into the factors driving the market, emerging trends, opportunities for development, as well as potential limitations that may affect the Electroencephalography Equipment. The report provides an estimation of the global market size and examines recent strategic actions taken by prominent international competitors.
Global Electroencephalography Equipment Market is valued at approximately USD 1.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.3% over the forecast period 2020-2027. Electroencephalography (EEG) devices have turned to be the most promising devices that are used to measure and monitor the electrical signals of the brain. The readings from an electroencephalography device are primarily used to diagnose various neurological disorders (e.g., Parkinson disease, epilepsy, and Alzheimer). Also, these devices help to monitor sleep disorders and patients under anesthesia. The equipment generally functions through electrodes that are connected to the scalp of the patient to accumulate the reading of the brain wave.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The recent technology developments in the field of electroencephalography equipment create a robust demand from neurologists and neurosurgeons to precisely diagnose the brain disorders, thereby soaring the demand for EEG equipment market over the forecast period. Furthermore, the rise in patient population with neurological disorder, along with the increased government funding on R&D of neurological treatment are the few factors responsible for the high CAGR of the market during the forecast period. According to the Alzheimer’s association, nearly 5.8 million of Americans are affecting with Alzheimer’s dementia in 2019 and this estimation will likely increase almost 14 million by 2050.
As further, the survey of Alzheimer’s Society found that roughly 850,000 people are suffering from Alzheimer disease in the United Kingdom and is likely to rise over 1.0 million by 2025. This, in turn, is expected to strengthen the market growth all over the world. However, the availability of substitute, coupled with lack of skilled neurologists and neurosurgeons are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Electroencephalography Equipment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in number of R&D activities concerning the neurological disease treatment, and the presence of a significant number of equipment manufacturers in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of Parkinson and Alzheimer’s disease along with the improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth prospects for the Electroencephalography Equipment market across the Asia-Pacific region.
Major market player included in this report are:
Advanced Brain Monitoring, Inc.
Cadwell Industries, Inc.
Cephalon A/S
Compumedics Limited
Fresenius SE & Co. KGaA
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Koninklijke Philips N.V. (Philips Healthcare)
Medtronic plc.
Natus Medical Incorporated
Neurostyle Pte Ltd.
Nihon Kohden Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
EEG Equipment
Integrated EEG Systems
Portable EEG Systems
EEG Accessories
By Application:
Disease Diagnosis
Sleep Monitoring
Anaesthesia Monitoring
Trauma and Surgery
Others
By End-User:
Hospitals
Diagnostic Centers
Ambulatory Surgical Centers
Research Laboratories
By Region:
North America
U.S.
Canada
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Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
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