Industry Outlook
The EEG equipment market in 2017 was US$ 760.1 Mn and is expected to reach US$ 1,457.3 Mn by 2026 exhibiting growth at a compounded annual growth rate (CAGR) of 7.5% during the forecast period from 2018 to 2026. 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.
Market Synopsis
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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.
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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.
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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 2018 to 2026. 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.
Historical & Forecast Period
This research report presents the analysis of each segment from 2016 to 2026 considering 2017 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segments are calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
In the scope of the report the market is segmented as follows:
| ATTRIBUTE |
DETAILS |
| Research Period |
2016-2026 |
| Base Year |
2017 |
| Forecast Period |
2018-2026 |
| Historical Year |
2016 |
| Unit |
USD Million |
| Segmentation |
By Product (2016–2026; US$ Mn)
• 40-Channel EEG
• 32-Channel EEG
• 25-Channel EEG
• 21-Channel EEG
• 8-Channel EEG
• Multichannel
|
|
By Type (2016–2026; US$ Mn)
• Portable
• Standalone
|
|
Geography Segment (2016–2026; US$ Mn)
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
|
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 questions answered in this report
- What are the criteria employed for determination of market assessment for EEG equipment market?
- What are the strategic collaboration, merger and acquisitions taking place in the EEG equipment market?
- What is the competitive landscape and how does it represent the competitive scenario existing in EEG equipment market?
- Which product is the largest and fastest growing for EEG equipment market?
- Which type is the leading and fastest growing for EEG equipment market?
- Which geographical region is the leading and fastest growing for EEG equipment market?
