by The Electroencephalographs market involves devices utilized for recording electrical activity in the brain directly from the scalp. Electroencephalography aids in the diagnosis of epilepsy, encephalopathies, brain death, and sleep disorders. It is considered the gold standard for distinguishing conscious and unconscious states. These devices provide important neural insights in pre-surgical evaluations, aiding in precisely locating seizure foci and mapping eloquent cortex.
The global Electroencephalographs market is estimated to be valued at US$ 2919.86 Mn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Electroencephalographs market are HEYER Medical AG, Medicom MTD, Draeger, Inc., Natus Medical Incorporated, Masimo, NeuroWave Systems Inc., Brain Products, elmiko medical, CamNtech Ltd, Danmeter, Neurosoft and MT MonitorTechnik GmbH & CO.KG.
The growing demand for EEG procedures in diagnosing neurological conditions and the rising prevalence of neurological disorders are fueling Electroencephalographs Market Size . Additionally, manufacturers are focusing on emerging economies for expansion to tap the large untapped opportunities.
Market Key Trends
One of the major trends gaining traction in the Electroencephalographs market is the increasing adoption of portable and wireless devices. Ambulatory and home-based EEG monitoring options provide increased access and enable diagnosing epilepsy and sleep disorders in a more natural environment. This growing preference for portable devices is driven by the need for improved mobility, flexibility, and ease of use. Manufacturers are actively innovating novel portable EEG systems with improved signal quality, longer battery life and integrated data transmission capabilities. This rising demand is expected to positively impact the Electroencephalographs market over the forecast period.
Porter’s Analysis
Threat of new entrants: Low entry barriers due to established distribution channels and suppliers.
Bargaining power of buyers: Buyers have high bargaining power due to the availability of substitute products.
Bargaining power of suppliers: Suppliers have low bargaining power due to the availability of substitute components.
Threat of new substitutes: High threat due to continuous technological advancements.
Competitive rivalry: High competition due to the presence of global and regional players.
Geographical Regions
North America accounted for the largest share of the global Electroencephalographs Market Size in terms of value in 2020. The region has presence of major players offering technologically advanced products. The demand is driven by high awareness levels about neurodiagnostic procedures and presence of well-established healthcare infrastructure.
Asia Pacific is expected to witness the fastest growth during the forecast period from 2024 to 2031. The main reasons for this high growth are rising healthcare expenditure, increasing incidence of neurological disorders, and growing geriatric population in countries like India and China. Government initiatives to strengthen healthcare systems also support market growth in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
