Electroencephalography (EEG) Devices Market Trends, Regulations And Competitive Landscape: Increased Demand for Advanced Imaging Techniques for Brain Monitoring Has Led to Proliferation of EEG Devices in Recent Years
Electroencephalography is a neurological test that measures and records electrical activities in the brain. Neurological disorders such as epilepsy and Parkinson’s, among others are diagnosed through EEG. An EEG setup includes collection storage and display of data using components such as connecting wires, display device, amplifiers, electrodes, and software. EEG is a low-cost noninvasive method of brain monitoring. This method is expected gain prominence over the following five to six years.
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The global EEG devices market report begins with an overview of EEG and its future outlook. This report covers the EEG devices market performance in terms of revenue contribution. This section also includes PMR’s analysis of key trends, drivers, restraints, and opportunities, which are influencing the EEG devices market. Impact analysis of the key growth drivers and restraints, based on the weighted average model, is included in this report on the EEG devices market across various regions, to better equip clients with crystal clear decision-making insights.
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The EEG devices market is segmented into:
- Product type
By product type, the global EEG devices market is segmented into 8-channel EEG, 21-channel EEG, 25-channel EEG, 32-channel EEG, 40-channel EEG, and multi-channel EEG. Of these, the 32-channel EEG segment accounted for 25.3% share of the overall EEG devices market in 2014, followed by the 25-channel EEG and 40-channel EEG segments respectively. By modality, the global EEG devices market is segmented into portable devices and standalone (fixed) devices.
On the basis of end use, the market is segmented into hospitals and diagnostic centers. The diagnostic centers segment is expected to increase at the highest CAGR of 7.2% during the forecast period. Thus, this segment is anticipated to emerge as a potentially viable segment for deployment of EEG devices by manufacturers over the forecast period. Hospitals segment is expected to witness robust growth during the forecast period, with a steady growth during the latter years of the forecast period.
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The global EEG devices market is mainly driven by factors such as rising incidence of neurological disorders leading to the development of efficient EEG devices, extensive research and development on neuroscience, growing product line development, and rising healthcare expenditure. Lack of professionally trained personnel, the weak spatial resolution offered by EEG, along with the availability of substitutes are some of the factors restraining the growth of the market. Companies are manufacturing devices that read and interpret user’s brainwaves and help control devices. This technology is anticipated to gain traction across various applications such as lifestyle, fitness, medicine and market research. Numerous ongoing studies for potential application of EEG wearable technology are expected to drive demand for wireless EEG devices over the following five to six years. For instance, EEG is expected to find wider application to detect rapid eye movement (REM) sleep stage.
Regions covered in the report are as follows:
- North America
- Latin America
- Asia Pacific
- The Middle East & Africa