The global Electroencephalography Systems/Devices Market size is expected to reach a value of USD 1,591.8 million by 2026, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 8.7% during the forecast period. High prevalence of such as epilepsy, sleeping disorders, brain tumor, Parkinson’s disease, and stroke among other neurological disorders is a major factor anticipated to drive the growth. According to the World Health organization (WHO), over 50 million people are affected by epilepsy; and more than 35.6 million people worldwide are suffering from Alzheimer’s disease and dementia.
In addition, growing awareness about neurological diseases and disorders in developed and developing regions is expected to boost the market. In addition, rising government funding for neuroscience-related R&D is contributing to the market growth a great extent. Moreover, rapidly developing healthcare infrastructure and increasing disposable income in Asian countries is projected to support the demand for advanced electroencephalography (EEG) devices and systems.
Furthermore, introduction of technologically advanced products such as portable electroencephalography systems is expected to drive the market. Increasing focus on neuroscience, cognitive psychology, and psychophysiological research activities have led to increased demand for advanced systems.
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Further key findings from the study suggest:
- 32-channel EEG systems was the highest revenue generating segment in 2018, attributed to robust technological advancements in 32-channel EEG products
- In 2018, standalone devices was the highest revenue generating segment due to increased application of these systems in hospitals and diagnostics centers
- Hospitals segment held the largest revenue share on the basis of end use in 2018, owing to increasing number of patients suffering from neurological disorders. Rising geriatric population is another major factor responsible for the segment growth
- North America held the largest revenue share of the EEG system/device market in 2018. The availability of insurance coverage for brain monitoring and well-developed healthcare infrastructure is anticipated to drive the regional demand
- Some of the key companies are Nihon Kohden America, Inc.; Medtronic; NeuroWave Systems, Inc.; Natus Medical, Inc.; Electrical Geodesics, Inc.; Compumedics Ltd.; Cadwell Laboratories, Inc.; and Noraxon U.S.A. Inc.
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Grand View Research has segmented the global EEG system/device market on the basis of product, type, end use, and region:
Electroencephalography (EEG) Systems/Devices Product Outlook (Revenue, USD Million, 2015 – 2026)
- 8-channel EEG
- 21-channel EEG
- 25-channel EEG
- 32-channel EEG
- 40-channel EEG
- Multichannel EEG
Electroencephalography (EEG) Systems/Devices Type Outlook (Revenue, USD Million, 2015 – 2026)
- Standalone devices
- Portable devices
Electroencephalography (EEG) Systems/Devices End-Use Outlook (Revenue, USD Million, 2015 – 2026)
- Diagnostic Centers
Electroencephalography (EEG) Systems/Devices Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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