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EEG (Electroencephalography) Devices Market Opportunity Analysis-2027
EEG (Electroencephalography) Devices Market Opportunity Analysis-2027
“Coherent Market Insights “EEG (ELECTROENCEPHALOGRAPHY) DEVICES MARKET – GLOBAL TRENDS, ESTIMATES AND FORECASTS, 2020-2027?

In an electroencephalography(EEG) device, small electrodes and wires are attached to the patient’s head.Display device, amplifiers, and software are some other components in an EEGsetup that are used for collection storage and data display. The 10–20International System is used as a standard positioning and naming scheme in EEGdevices. Strobe lighting, sleep derived EEG, sleep EEG, video telemetry, andambulatory EEG are the various types of EEG tests. EEG is a low costnon-invasive method of brain monitoring. The global EEG(Electroencephalography) Devices Market is estimated to account for US$2,198.0 Mn in terms of value by the end of 2027.

Global EEG (Electroencephalography)Devices Market: Drivers

Increasing launch of advancedproducts is expected to boost growth of the global EEG (Electroencephalography)devices market over the forecast period. For instance, in November 2019, NÅ«riodeveloped NÅ«rio, a wearable EEG (Electroencephalography) device that can beworn over the ear.

Global EEG(Electroencephalography) Devices Market: Opportunities

Development of a neural networkthat can recreate human brain waves in real-time is expected to offer lucrativegrowth opportunities for market players. For instance, in October 2019,reserchers from Neurobotics LLC and Neuroassistive Technologies LLC, incollaboration with Moscow Institute of Physics and Technology (MIPT), reporteddevelopment of an effective closed-loop brain–computer interface (BCI) systemthat reconstructs the observed or imagined stimuli images from the co-occurringbrain wave parameters.

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Global EEG (Electroencephalography)Devices Market: Restraints

However, availability of othermethods for brain monitoring is expected to hinder growth of the global EEGdevices market over the forecast period. Several other techniques such aselectromyography (EMG), functional magnetic resonance imaging (fMRI), computedtomography (CT), positron emission tomography (PET), magnetoencephalography(MEG), and near-infrared spectroscopy (NIRS) are available for brain monitoring

Key Takeaways of the Market:

Global EEG(Electroencephalography) devices market was valued at US$ 1,125.6 market in2018 and is forecast to reach a value of US$ 2,198.0 by 2027 at a CAGR of 7.8%between 2019 and 2027.The growth of the market is attributed to the increasingpatient population, and increasing adoption of expansion strategies such as acquisition,and strategic partnerships from major players operating in the market.Diagnostic Centers segment dominated the global EEG (Electroencephalography)devices market in 2018, accounting for 60.9% share in terms of value, followedby hospitals.The major driver attributing to the growth of the segment duringthe forecast period constitutes of increasing patient population and increasingdemand for minimally invasive procedures.    Standalone (Fixed Devices) segment dominated the global EEG (Electroencephalography)devices market in 2018, accounting for 47.1% share in terms of value, followedby portable devices segment. Reason increasing product approvals is a majorfactor attributing to the growth of the segment during the forecast period.

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Market Trends:

R&D in novel technologiessuch fMRI and PET has led high demand for these technologies in the recentpast. For instance, in August 2019, researchers from Yale Universitydemonstrated that real-time functional magnetic resonance imaging neurofeedback(rt-fMRI-NF) can be a potential tool in the treatment of Tourette syndromeMarket players focused on manufacturing EEG systems that rapidly evaluatebrain-wave information of unconscious patients. For instance, in September2019, Nihon Kohden launched its VitalEEG wireless electroencephalogram headsetin the U.S., which is designed for quick setup and efficient placement of electrodesto evaluate brain health.

Global EEG Devices Market:Competitive Landscape

Major players operating in theglobal EEG (Electroencephalography) devices market include Cadwell LaboratoriesInc., Compumedics Limited, Natus Medical Incorporated, Neurosoft Ltd., ElektaAB, Electrical Geodesics, Inc., NeuroWave Systems Inc., EB Neuro S.p.A., andNihon Kohden Corporation. Key players in the market are focused on productapproval and launch to expand their product portfolio. For instance, inDecember 2018, Neurosoft Ltd. received approval for its new EEG systemNeuron-Spectrum-61 from EU. In September 2019, EMOTIV launched EMOTIV MN8, anew generation of brain monitoring sensors called EEG buds comprised of 2in-ear brain sensors, 4 behind-the-ear reference electrodes and multi-axismotion sensors that measure balance and head movements.

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