EEG Equipment Market Growing Advancement in Screening and Diagnostic Procedures Drives Growth 2026

EEG equipment

The use of electroencephalography equipment is increasing, due to the increasing prevalence of neurological disorders such as epilepsy and Alzheimer’s disease.

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Electroencephalography equipment is used to perform brain wave tests on patients for disease diagnosis, monitor sleep rhythm, etc. This brain wave test is non-invasive and is called an electroencephalogram. The test is performed by placing the electrodes on the scalp to detect electrical activity in the brain. However, this electrical activity of the brain is very low and requires amplification which is carried out by the amplifier of the device. The amplified electrical activity is then visualized and analyzed for any anomaly. EEG equipment is mainly used in hospitals and diagnostic centers and is also used in research centers to conduct various experiments.

The global electroencephalography equipment market was worth $ 1.40 billion in 2018 and is expected to reach $ 1.99 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026. The report offers a detailed analysis key segments, major investment pockets, changing dynamics, market size and estimates and competitive scenario.

Covid-19 scenario:

1) The Covid-19 pandemic and followed by containment has affected several manufacturing industries.
2) The prolonged containment has resulted in a disruption of the supply chain and an increase in the prices of raw materials.
3) However, as the world recovers from the pandemic, the market is expected to get back on track.

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The key factors driving the growth of the global electroencephalography equipment market are increasing geriatric population and increasing adoption of EEG equipment in surgical centers. Other factors which are contributing to the growth of the market include the increasing prevalence of neurological disorders such as epilepsy and Alzheimer’s disease. Besides, the technological advancement in the field of EEG equipment is another factor which is contributing to the growth of the global EEG equipment market. However, the presence of a large number of substitute products in the market is hampering the growth of the market. Whereas the growth potential in developing countries is expected to provide lucrative opportunity for the global EEG equipment market during the forecast period.

The electroencephalography equipment market is segmented on the basis of product, application, end user, and region to provide detailed assessment of the market. On the basis of product, the market is divided into EEG equipment and EEG accessories. In addition, the EEG equipment is divided into an integrated EEG system and a portable EEG system. Based on application, the market is divided into disease diagnosis, sleep monitoring, anesthesia monitoring, trauma and surgery, and others. On the basis of end user, the market is categorized into hospitals, diagnostic centers, outpatient surgery centers, research laboratories, and others. Based on the region, the market size for electroencephalography equipment is analyzed North America (United States, Canada, and Mexico), Europe (Germany, France, United Kingdom, Italy, Spain and the rest of the United Kingdom). Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and rest of Asia-Pacific) and LAMEA (Brazil, South Africa and rest of LAMEA).

On a product basis, the EEG accessories segment was a major contributor to revenue in 2018 and is expected to maintain its dominant position throughout the analysis period as these devices are purchased repeatedly. Moreover, the other factors which are contributing to the growth of this market include the increase of various neurological disorders such as epilepsy, Alzheimer’s disease, and others.

According to the application, the disease diagnostics segment accounted for the highest market share in 2018 and is expected to register the fastest growth rate, owing to the increasing prevalence of neurological disorders such as epilepsy, Alzheimer’s disease and others around the world. Additionally, the increased adoption of EEGs in Neonatal Intensive Care Units (NICUs) is another major reason driving the growth of this segment.

On an end-user basis, the hospital segment accounted for the highest market share in 2018 and is expected to maintain this trend during the forecast period as these facilities provide a large number of EEG applications. For example, hospitals provide brain monitoring, sleep monitoring, and anesthesia monitoring.

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In 2018, North America accounted for the bulk of the electroencephalography equipment market size and is expected to continue this trend due to a higher number of R&D activities, the presence of skilled technicians and the wide availability of technologically advanced EEG equipment. Moreover, the increasing prevalence of various neurological disorders is another factor which is boosting the EEG market in the region. On the other hand, Asia-Pacific is expected to register the fastest growth during the forecast period owing to the increase in healthcare expenditure and the increase in the prevalence of various neurological disorders such as l epilepsy and others.

The main key players are:

Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., Cephalon A / S, Compumedics Limited, Fresenius SE & Co. KGaA, General Electric Company (GE Healthcare), Koninklijke Philips NV (Philips Healthcare), Medtronic plc., Natus Medical Incorporated and Nihon Kohden Corporation.

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