Global Electroencephalography Market Size, Trends & Analysis with COVID-19 Impact - Forecasts to 2026 By Product (8-channel EEG, 21-channel EEG, 25-channel EEG, 32-channel EEG, 40-channel EEG and above 40-channel EEG), By Portability (Immobile EEG Devices, and Portable EEG Devices), By Indication (Brain Disorders, Traumatic Brain Injuries, Clinical and Psychiatric Studies and Other Indications), By Application (Long-Term Monitoring, Pediatric Monitoring, Ambulatory Monitoring, and Medical Research), By End-User (Hospital & Neurology Clinics, Diagnostic Centers, Ambulatory Surgical Centers, and Research & Academia), By Region (Europe, North America, MEA, Asia Pacific, and CSA); Vendor Landscape, Company Market Share Analysis, End-User Landscape, and Competitor Analysis
Electroencephalography (EEG) Market Insights
The EEG market will rise at a CAGR value of 8.5% during the forecast period of 2020-2026. An electroencephalogram (EEG) monitors the electrical activity of the brain. An EEG can be utilized to help identify potential brain disorders. The rising prevalence of neurological disorders, cardiovascular, mental health disorders, and brain surgeries are propelling market growth. The most common applications of EEG are the monitoring, diagnosis, and treatment of neurological disorders such as epilepsy, dementia, Parkinson’s disease, and Alzheimer’s disease. Also, rising road accidents which cause brain injuries will propel the growth of the market. With increasing research activities for advanced brain assessment and disease diagnosis, the EEG market is ought to grow faster during the 2020-2026 period.
EEG Market: By Product
Based on the types of products available, the market is segmented into 8, 21, 25, 32, 40-channel EEG, and above 40-channel EEG. The 32-channel EEG will be the biggest income netting fragment and is additionally extended to keep up its predominance during the conjecture period. Mechanical progression in 32-channel EEG items and its high appropriation by medical care proficient are the central point driving development.
EEG Market: By Portability
Based on the portability, the product can be bifurcated into an immobile and portable EEG device. The immobile or standalone EEG machines will be the major share contributor in the market owing to its high importance in the critical care department of the hospitals and ASCs. Also, it is highly accurate for diagnosing critical brain injuries and damages.
EEG Market: By Indication
Based on the indication, the market is segmented into brain disorders, traumatic brain injuries, clinical and psychiatric studies, and other indications. The brain disorders segment will be the fastest as well as the largest market segment from 2020 to 2026. The major reason being is the high prevalence of Alzheimer’s and Parkinson’s disease. Also, the rising incidence of sleep disorder, dementia, epilepsy, and seizures will contribute to the adoption of EEG in the market
EEG Market: By Application
Based on the application or type of EEG application, the market can be foreseen as long-term monitoring, Pediatric monitoring, ambulatory monitoring, and medical research. The long-term monitoring will be the largest segment owing to the increased use of EEG in hospital and neurological clinics set up. However, considering the rising road accidents, the ambulatory monitoring segment will be the fastest-growing application from 2020 to 2026.
EEG Market: By End-User
According to consumer analysis, the market is divided into hospital & neurology clinics, diagnostic centers, ambulatory surgical centers, and research & academia. Hospital has and will be the leading segment in the medical device market. Furthermore, rising infrastructural costs of hospitals and clinics in developed countries will help adopt the latest EEG technologies and ultimately rise the market revenue.
EEG Market: By Region
The geographical study of the EEG market includes Middle East & Africa, CSA, North America, Asia-Pacific, and Europe. The Asia-Pacific region grows faster than any other region mostly due to the high incidence of neurological disorders and the geriatric patient population. Furthermore, the U.S. from the North American region will still be the leading segment owing to the high healthcare expense fund granted for medical devices in top diagnostic and hospitals by the government and rising cases of Alzheimer’s in the country.
EEG Market Share and Competitor Analysis
Major companies in the market are Compumedics Ltd., Medtronic, NeuroWave Systems, Inc., Natus Medical, Inc., Electrical Geodesics, Inc., Nihon Kohden America, Inc., Noraxon U.S.A., Inc., NeuroScan, Brain Products, BioSemi, EGI, Emotiv, NeuroSky, Advanced Brain Monitoring, g tec, ANT Neuro, Neuroelectrics, Muse, OpenBCI, Cognionics, mBrainTrain, BrainBox, Cadwell Industries, AAT Medical Ltd., and Clarity Medical and others.
Please note: This is not an exhaustive list of companies profiled in the report.
In December 2019, Ceribell launched Clarity, at the American Epileptology Society Annual Meeting. This product is a 24*7 bedside EEG monitoring and alerting system.
In September 2019, Nihon Koden launched VitalEEG which is a wireless electroencephalogram headset for the U.S. market.
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The Global Electroencephalography Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Electroencephalography Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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