The Increasing Prevalence of Neurological Disorders Is Driving EEG (Electroencephalography) Devices Market Growth

 

EEG (Electroencephalography) Devices Market
EEG (Electroencephalography) Devices Market

EEG (Electroencephalography) Devices Market, by Device Type (8-Channel EEG, 21-Channel EEG, 32-Channel EEG, 64-Channel EEG, and Others), by Modality (Standalone and Portable), by End User (Hospitals, Diagnostic Centers, and Others), and by Geography - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027.

Market Overview:

Electroencephalography (EEG) is a non-invasive diagnostic test that records electrical activity in the brain using electrodes placed on the scalp. It measures the electrical signals produced by the neurons in the brain and can be used to diagnose neurological disorders such as epilepsy, sleep disorders, and brain tumors. EEG can also be used to monitor brain activity during surgery or to study brain function in research settings. The EEG recording shows a visual representation of the electrical activity of the brain, called an EEG waveform, which is used by medical professionals to interpret the results and diagnose neurological conditions. EEG is a safe and painless procedure that is widely used in clinical practice.

Competitive Landscape:

Major players operating in the global EEG (Electroencephalography) devices market include Nihon Kohden Corporation, EB Neuro S.p.A., NeuroWave Systems Inc., Electrical Geodesics, Inc., Elekta AB, Neurosoft Ltd., Natus Medical Incorporated, Compumedics Limited, and Cadwell Laboratories Inc.

Key Market Drivers:

The increasing prevalence of neurological disorders, the rising geriatric population, and technological advancements are some of the major drivers of the global EEG (Electroencephalography) devices market. For instance, according to the World Health Organization (WHO) by 2030, 1 in every 6 people globally will be 60 years or more.

Moreover, the increasing awareness about the benefits of EEG devices in the diagnosis and treatment of various neurological disorders is expected to boost the growth of the global EEG (Electroencephalography) devices market. Additionally, the growing demand for home-based EEG devices is expected to drive the market.

Covid-19 Impact Analysis:

The COVID-19 pandemic has had a mixed impact on the global EEG (Electroencephalography) devices market. On one hand, the pandemic has led to a surge in demand for EEG devices, as hospitals and clinics are using them to monitor the brain activity of COVID-19 patients. For instance, in March 2022, Interaxon Inc. introduced a new VR Software Development Kit (SDK), which is EEG headband compatible.

Key Takeaways:

·         North America is expected to dominate the growth of the global EEG (Electroencephalography) devices market, owing to the presence of well-established healthcare infrastructure and the increasing prevalence of neurological disorders. For instance, in September 2022, Ceribell, Inc. got the approval of the United States Food and Drug Administration (FDA) for its delirium indication.

·         The Asia Pacific region is estimated to witness high growth in the global EEG (Electroencephalography) devices market, owing to the increasing awareness about neurological disorders and the rising geriatric population in the region. For instance, according to the World Health Organization, there are around 104 million geriatric individuals in India (60+ years).

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