MagnetoencephalographyDevices Market, by Application (Clinical Application, (Dementia, Autism,Schizophrenia, Multiple Sclerosis, Stroke, Epilepsy, Traumatic Brain Injury,Brain Tumor), and Research Applications), by End User (Hospitals, Imaging Centers, and Academic & Research Institutes), andby Region (North America, Latin America, Europe, Asia Pacific, Middle East, andAfrica) was valued at US$ 253.3 millionin 2018, and is projected to exhibit a CAGR of 4.5% over the forecast period(2019 - 2026), as highlighted in a new report published by.
The magnetoencephalography (MEG)device market is expected to witness significant growth over the forecastperiod, owing to technological advancements. For instance, in March 2018,researchers from the Sir Peter Mansfield Imaging Centre, University ofNottingham, and Welcome Centre for Human Neuroimaging, developed a nextgeneration brain scanner similar to a helmet, allowing patients to movenaturally while scanning. Moreover, increasing prevalence of neurodegenerativedisorders across the globe, such as dementia, epilepsy, schizophrenia, andautism is expected to propel magnetoencephalography (MEG) devices market growthover the forecast period. For instance, according to the report of GlobalBurden of Neurodegenerative Disorders presented at the 61st IAEA GeneralConference on September 21, 2017, 46.8 million people worldwide have dementia.
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As per the same source, among46.8 million people with dementia, 1-2% of the global population is above theage of 65. Furthermore, rising incidence of traumatic brain injury (TBI) isexpected to accelerate growth of the MEG devices market in the near future. Forinstance, according to data published in March 2019 by the Centers for DiseaseControl and Prevention (CDC), around 2.87 million TBI-related emergencydepartment (ED) visits, hospitalizations, and deaths occurred in the U.S. in2014, accounting for over 837,000 of health emergencies, which also includedchildren.
Browse 40 Market Data Tables and48 Figures spread through 174 Pages and in-depth TOC on"Magnetoencephalography Devices Market, By Application (Clinical Application,(Dementia, Autism, Schizophrenia, Multiple sclerosis, Stroke, Epilepsy,Traumatic brain injury, Brain Tumor), and Research Applications), By End User(Hospitals, Imaging Centers, andAcademic & Research Institutes), and By Region (North America, LatinAmerica, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to2026"
Key players in themagnetoencephalography market are engaged in research and development ofdevices especially for the pediatric population. For instance, in November2014, researchers from the Boston Children’s Hospital launched a babymagnetoencephalography (MEG) system for pediatric patients.
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Key Takeaways of the MagnetoencephalographyDevices Market:
The global magnetoencephalographydevices market is expected to exhibit a CAGR of 4.5% over the forecast period(2019–2026) owing to increasing technological advancements in the magnetoencephalographymarket, and rising prevalence of neurodegenerative disorders across the globe
Among application type, thedementia sub-segment is expected to account for a major revenue share by 2026,owing to increase incidence of dementia worldwide. For instance, according tothe World Alzheimer Report, in 2016, an estimated 46.5 million people weresuffering from Alzheimer’s disease worldwide.
Major players operating in theglobal magnetoencephalography devices market include Compumedics Limited,Croton Healthcare, Ricoh Company, Ltd., and CTF MEG International Services LP.
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