Electroencephalogram Market by Type (Ambulatory EEG, Invasive EEG-Telemetry, Routine EEG), Device Type (Portable EEG Devices, Standalone EEG Devices), End-User - Global Forecast 2024-2030

Electroencephalogram Market by Type (Ambulatory EEG, Invasive EEG-Telemetry, Routine EEG), Device Type (Portable EEG Devices, Standalone EEG Devices), End-User - Global Forecast 2024-2030

The Electroencephalogram Market size was estimated at USD 9.35 billion in 2023 and expected to reach USD 10.18 billion in 2024, at a CAGR 9.20% to reach USD 17.33 billion by 2030.

An electroencephalogram, commonly abbreviated as EEG, is a medical test used to estimate the electrical activity in the brain through electrical impulses. It uses small sensors attached to the scalp and records various patterns of brain activity as electrical waves. An EEG is a tool that helps doctors and researchers understand what is happening inside the brain by tracing the energy waves traveling through the brain. It provides critical information about a person's brain function and is a non-invasive method without surgery or other invasive procedures. It is most commonly employed for diagnosing and monitoring neurological disorders such as epilepsy, which is characterized by recurrent seizures. EEGs help doctors determine the type and location of activity causing seizures in the brain. Additionally, EEGs can be utilized to evaluate other brain-related issues. The growing number of cases related to neurological diseases such as epilepsy, Alzheimer's disease, and Parkinson's disease, among others, have significantly increased the demand for EEG devices. While EEG technology has advanced, there are limitations in terms of signal quality that affect the reliability of the diagnostics and thus hinder market growth. However, the development of advanced and more effective EEG technologies, along with the integration of AI with EEG, is significantly growing the demand for EEGs.

Regional Insights

In the Americas, particularly in the United States and Canada, the EEG market is showing strong growth with the growing advancements in technology which enhance the functionality and accuracy of EEG devices, increasing prevalence of neurological disorders like epilepsy and Alzheimer's disease, along with a high rate of investment in healthcare infrastructure the region is showing increased demand for EEG. The demand for EEG in the Asia Pacific is growing rapidly, driven by increasing awareness of neurological diseases among the population. With the rising healthcare expenditure, and government initiatives aimed at improving healthcare infrastructure the EEG market is experiencing robust growth. Countries like China, Japan, and India are showing market growth within the region. The increased access to healthcare services in these countries are also significant contributors to the growth of the EEG market here. The market in EMEA shows a diverse performance due to variations in healthcare infrastructure and economic conditions across the region. Advanced European countries like Germany, the UK, and France have well-established markets due to high healthcare standards and strong focus on research and development. In the Middle East and parts of Africa, the market is gradually expanding, supported by improvements in healthcare facilities and the increasing ability of these economies to invest in health technologies.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Electroencephalogram Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Increasing prevalence of neurological disorders globally
Ongoing research projects and studies aimed at exploring new applications of EEG
Increasing government investments in healthcare

Market Restraints

Technological limitations associated with EEG devices

Market Opportunities

Expanding applications of EEG devices in cognitive neuroscience
Development of portable and wearable EEG devices

Market Challenges

Emergence of new alternative technologies

Market Segmentation Analysis

Device type: proliferation of portable devices for remote monitoring
End-users: expanding application in hospitals for neurological and psychiatric treatment

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Electroencephalogram Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Electroencephalogram Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Soterix Medical Introduces Innovative MXN-Go EEG System for Seamless Neurological Monitoring

Soterix Medical recently unveiled the MXN-Go EEG, a wireless system specifically designed to enhance the integration of High-Definition Transcranial Electrical Stimulation (HD-tES) with electroencephalography (EEG). This high-performance device is engineered to eliminate the complexities and inconveniences associated with wired systems, thereby facilitating continuous, high-fidelity neurological monitoring. This innovation is particularly notable for its potential to advance neurotherapeutic interventions and diagnostics significantly.

Epitel Secures FDA Approval for Advanced EEG Technologies Enhancing Remote Monitoring and Event Detection

Epitel, a healthcare technology company, has obtained FDA 510(k) clearance for two technologies, the REMI Remote EEG Monitoring System and the REMI Vigilenz AI. The REMI system is designed for ambulatory use, allowing for continuous EEG monitoring in a non-hospital setting, thus enabling real-time neurological assessments remotely. This system enhances patient comfort and accessibility to neurological evaluations. The REMI Vigilenz AI technology leverages artificial intelligence to accurately detect neurological events, thereby increasing the efficiency of diagnosis and monitoring.

Innovative Partnership Aims to Integrate Human Emotion into Urban Design for Enhancing Longevity

The National Institute on Aging’s Center for Research and Education on Aging and Translational Neuroscience (NICA) has partnered with EMOTIV, a neurotechnology company. This initiative seeks to employ advanced Electroencephalogram (EEG) technology to capture and analyze emotional responses from residents. The partnership plans to develop environments that meet physical requirements and also promote mental health and emotional fulfillment, thereby supporting the overarching goal of creating cities that cater effectively to the aging population.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Electroencephalogram Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Electroencephalogram Market, highlighting leading vendors and their innovative profiles. These include Advanced Brain Monitoring, Inc., ANT Neuro GmbH, Bit&Brain Technologies S.L., Brain Products GmbH, Cadwell Industries, Inc., COGNIONICS, INC., Compumedics Limited by D & Dj Burton Holdings, EB Neuro S.p.A., EMOTIV, Inc., Epitel, Inc., g.tec medical engineering GmbH, Integra LifeSciences Corporation., Jordan NeuroScience, Inc., Magstim EGI, Masimo Corporation., Micromed S.p.A., Mitsar Co. LTD., Natus Medical Incorporated, Neurosoft LLC, NeuroWave Systems Inc., Nihon Kohden Corporation, Ripple, LLC, and Soterix Medical Inc..

Market Segmentation & Coverage

This research report categorizes the Electroencephalogram Market to forecast the revenues and analyze trends in each of the following sub-markets:

Type
Ambulatory EEG
Invasive EEG-Telemetry
Routine EEG
Sleep EEG or Sleep-Deprived EEG
Video Telemetry
Device Type
Portable EEG Devices
Standalone EEG Devices
End-User
Diagnostic Centers
Hospitals
Research Institutions
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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