The Global Electro-DiagnosticDevices Market, by Product Type (Electromyogram (EMG), Nerve Conduction (NCS), Electrocardiography(ECG), Electroencephalography (EEG), Electroretinography (ERG),Electrogastrography (EGG), and Others), by End User (Hospitals & clinics,Ambulatory care research centers, Rehabilitation centers, Diagnostic centersand Others), and by Region (North America, Latin America, Europe, Asia Pacific,Middle East, and Africa) was valued at US$ 970.66 million in 2017, and isprojected to exhibit a CAGR of 7.5% over the forecast period (2018 - 2026).
Electro-diagnostic devices are used todiagnose diseases by passively recording the electrical activity of body parts.Rising prevalence of neuromuscular diseases has boosted growth of theelectro-diagnostic devices market. According to Centers of Disease Control andPrevention (CDC), Amyotrophic Lateral Sclerosis (ALS), a fatal neuromusculardisease had prevalence of 5.2 per 100,000 population and a total of 16,583cases were registered in the U.S. in 2015. Rising awareness regarding earlydiagnosis of the neuromuscular diseases has increased the demand for EEG andEMG procedures into the market. Since recent past, electro-diagnostic deviceshave gained popularity in hospitals and ambulatory surgical centers due to highaccuracy over magnetic imaging technologies to diagnose various diseaseconditions, which in turn has fuelled growth of the market. Growing geriatricpopulation across the world is increasing the risk of neuromuscular disorders,owing to loss of muscle mass and strength, and declining neurophysiologicalfunctions in elderly population. According to report published by UnitedNations in 2017, the number of older people within age group 60 years or overis expected to reach from 962 million globally in 2017, to 2.1 billion in 2050.Moreover, growing demand for portable devices with accuracy and safety at pointof care settings is expected to drive growth of the electro-diagnostic devicesmarket during the forecast period.
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Browse 27 Market Data Tables and14 Figures spread through 145 Pages and in-depth TOC on"Electro-Diagnostic Devices Market, by Product Type (Electromyogram(EMG), Nerve Conduction (NCS),Electrocardiography (ECG), Electroencephalography (EEG), Electroretinography(ERG), Electrogastrography (EGG) and Others), by End User (Hospitals &clinics, Ambulatory care research centers, Rehabilitation centers, Diagnosticcenters and Others), and by Region (North America, Latin America, Europe, AsiaPacific, Middle East, and Africa) - Global Forecast to 2026"
Manufacturers inelectro-diagnostic devices market are focused on expanding their business inemerging economies such as China, which offers untapped growth opportunitiesdue to its increasing ageing population. Rising healthcare spending and lowcost of medical treatment in the Asian countries has contributed to thetransformation of medical sector in emerging economies. New entrants in thismarket are offering innovative and advanced designs for electro-diagnosticdevices challenging existing players with their technologically advancedproducts. Thereby, major players in this market are launching new products andacquiring smaller companies, to extend their product portfolio andsimultaneously develop their own products by advantage of the corecompetencies, thereby expanding their share in the market.
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Key Takeaways of the Electro-DiagnosticDevices Market:
The global electro-diagnosticdevices market is expected to expand at a CAGR of 7.5% during the forecastperiod (2018–2026), owing to rising prevalence of degenerative neurologicaldisorders. According to The ALS Association 2016, over 5,000 people in the U.S.are diagnosed with ALS annually. Moreover, it is estimated that more than20,000 Americans have ALS at any given point of time.
Among product type,Electroencephalography (EEG) segment is expected to hold the major revenueshare in 2018, owing to increasing usage of EEG devices with the hybrid BrainComputer Interface (BCI) techniques, as they are extensively used with otherbrain/non-brain signal acquisition modalities
Among end user, the hospitals& clinics segment is expected to hold the major revenue share in 2018,owing to high accuracy of these devices in the early diagnosis of the disease
Major players operating in theglobal Electro-Diagnostic Devices market include Medtronic, Abbott, BostonScientific Corporation, Siemens Medical Solutions, Philips Medical Systems, GEHealthcare, Noraxen, Viasys Healthcare, Natus Medical, Cadwell LaboratoriesInc, Compumedics Limited, and Nihon Kohden
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