Overview

Electroencephalography (EEG) Devices Market is estimated to value over USD 1.9 billion by 2027 end with a CAGR of over 8.3% during the forecast period 2020 to 2027.

Rising incidences of neurological diseases like epilepsy, Alzheimer’s, dementia, Parkinson’s diseases, multiple sclerosis is the primary reason for the growth of the market. As per the data provided by the Alzheimer’s Association, over 5.6 million people from the Unites States were diagnosed with Alzheimer’s diseases in 2018 and it is projected that over half the geriatric population by 2050 will be diagnosed with dementia. Furthermore, as per the data provided by the ALS Association, over 4,800 people from the Unites States are identified with Amyotrophic Lateral Sclerosis every year and it is predicted to double this number over the upcoming years.
Growing geriatric population has resulted in the growth of research and development activities in the neuroscience sector. The strategic collaborations between Denali Therapeutics and Takeda have emphasized on developing drugs for diseases like Parkinson’s, Alzheimer’s and Pfizer’s partnership with Biogen for developing schizophrenia drugs shall boost the growth of the market. Additionally, according to the projections provided by the National Vital Statistics with compilation by the CDC, it is estimated that a average of over 180 years of potential life has been lost for people under the age of 75 years in the Unites States. Such a high prevalence rate shall bolster the electroencephalography devices market growth. Moreover, as per the Alzheimer’s Disease International, the South East Asia is predicted to experience over 220% rise in the number of Alzheimer’s case and the data from the same source project that the number of patients suffering with Alzheimer’s disease shall reach over 104 million by 2050.

Electroencephalography (EEG) Devices Market Segmentation:

By Product
•   32-Channel EEG
•   25-Channel EEG
•   8-Channel EEG
•   40-Channel EEG
•   21-Channel EEG
•   Multichannel EEG
By Type
•   Portable Devices
•   Standalone Devices
By End Users
•   Hospitals
•   Diagnostic Centers
•   Others
By Region
•   North America
•   Europe
•   Asia Pacific
•   Latin America
•   Middle East & Africa

The market is classified into product, type, end user and region. The product segment is categorised into 25-channel EEG, 32-channel EEG, 40-channel EEG, 21-channel EEG, 8-channel EEG and multichannel. The 32-channel EEG segment is predicted to hold the largest electroencephalography devices market share owing to technological advancements along with high acceptance of this device by healthcare personnel across the world. The type segment is diversified into portable devices and standalone devices. The standalone devices segment dominated the market owing to their increased adoption and a wide range of applications, especially in critical care. The portable EEG devices segment is anticipated to grow at a substantial rate during the forecasted time frame.

Regional Analysis:

The North America region is anticipated to dominate the market owing to growing occurrence of different neurodegenerative and sleep disorders, favourable insurance policies, strong presence of major market players in the region. Furthermore, organization like the National Institute of Neurological Disorders and Stroke providing research and development funds for neurological disorders shall bolster the growth of the market in the region.

Competitive Landscape:

Some of the major market players are Natus Medical Inc., Electrical Geodesics Inc., Medtronic, NeuroWave Systems Inc., Compumedics Ltd., Noraxon U.S.A., Inc., Cadwell Laboratories Inc., Nihon Kohden America Inc, Elekta AB, BrainScope.

FutureWise Key Takeaways:

•   Growth prospects
•   SWOT analysis
•   Key market trends
•   Key data-points affecting market growth

Objectives of the Study:

•   To provide with an exhaustive analysis on the global electroencephalography devices market by product, by type, by end user and by region
•   To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
•   To evaluate and forecast micro-markets and the overall market
•   To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and Middle East and Africa
•   To record, evaluate and analyze competitive landscape mapping- product launches, technological advancements, mergers and expansions

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