The electroencephalography devices global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electroencephalography Devices Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electroencephalography devices market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.20 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to early discoveries, initial development, portable and wireless electroencephalography, neurofeedback and biofeedback, consumer-grade electroencephalography devices.
The electroencephalography devices market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to research and development, clinical acceptance, increasing healthcare expenditure, aging population, consumer wearables. Major trends in the forecast period include advanced signal processing and artificial intelligence integration, personalized healthcare, integration with virtual reality (VR) and augmented reality (AR), longitudinal monitoring and big data analytics, combination with other modalities.
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Scope Of Electroencephalography Devices Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electroencephalography Devices Market Overview
Market Drivers –
The increasing prevalence of neurological disorders is expected to propel the growth of the electroencephalography device market going forward. Neurological disorders affect the neurological system, including the brain, spinal cord, and nerves all over the body. The prevalence of neurological disorders is rising due to the aging population, lifestyle changes, genetics, improved diagnosis, and awareness. Electroencephalography devices are essential in diagnosing and monitoring neurological disorders by recording and analyzing electrical activity in the brain, aiding in assessing and treating conditions such as epilepsy, sleep disorders, and brain injuries. For instance, in October 2023, according to the World Federation of Neurology, a UK-based organization advocating for neurology and neurologists, over 40% of the global population suffers from a neurological condition and is expected to nearly double by 2050. Therefore, the increasing prevalence of neurological disorders is driving the growth of the electroencephalography device market.
Market Trends –
Major companies operating in the electroencephalography devices market focus on developing innovative products, such as cloud-linked portable recorders, to enhance data accessibility and remote monitoring capabilities. A cloud-linked portable recorder refers to a device that records brain activity and transfers data to cloud servers for storage, analysis, and remote access. For instance, in May 2021, Inspira Health Network, a US-based charitable non-profit healthcare organization, launched a Ceribell rapid-response electroencephalography device designed to detect and diagnose non-convulsive seizure activity in critically ill patients, ensuring prompt and effective treatment. The device includes a headband with embedded electrodes, a compact recorder with intuitive software, and a cloud portal for remote monitoring. Featuring cloud-connected, portable EEG equipment, Ceribell enables quick EEG tests for expedited diagnosis and treatment.
The electroencephalography devices market covered in this report is segmented –
1) By Type: Portable, Standalone, Wearable
2) By Product: 8-Channel Electroencephalography, 21-Channel Electroencephalography, 25-Channel Electroencephalography, 32-Channel Electroencephalography, 40-Channel Electroencephalography, Multi-Channel Electroencephalography
3) By Distribution Channel: Direct Tender, Retail Sales
4) By Application: Trauma And Surgery, Disease Diagnosis, Anesthesia Monitoring, Sleep Monitoring, Other Applications
5) By End-Use: Hospitals, Diagnostics Centers, Other End Users
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Regional Insights –
North America was the largest region in the electroencephalography devices market in 2023. The regions covered in the electroencephalography devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electroencephalography devices market are General Electric Company, Philips Healthcare, Nihon Kohden Corporation, Natus Medical Incorporated, Cadwell Industries Inc, NeuroPace Inc., EB Neuro S.p.A., Brain Products GmbH, Lifelines Neuro Company LLC, ANT Neuro BV, BioSemi B.V, Micromed Group, Electrical Geodesics Inc., Thought Technology Ltd, NeuroSky Inc., Compumedics Limited, Neuroelectrics Corp, Advanced Brain Monitoring, Neurosoft Ltd, Artinis Medical Systems, Mitsar Co. Ltd, Wearable Sensing LLC, Emotiv Inc.
Table of Contents
1. Executive Summary
2. Electroencephalography Devices Market Report Structure
3. Electroencephalography Devices Market Trends And Strategies
4. Electroencephalography Devices Market – Macro Economic Scenario
5. Global Electroencephalography Devices Market Size and Growth
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32. Global Electroencephalography Devices Market Competitive Benchmarking
33. Global Electroencephalography Devices Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electroencephalography Devices Market
35. Electroencephalography Devices Market Future Outlook and Potential Analysis
36. Appendix
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