Global Magnetoencephalography Market - 2023-2030
The global Magnetoencephalography Market reached US$ 273.8 million in 2022 and is projected to witness lucrative growth by reaching up to US$ 408.8 million by 2030. The global Magnetoencephalography market is expected to exhibit a CAGR of 5.2% during the forecast period (2023-2030).
The examination and surgical planning of individuals with epilepsy benefit greatly from Magnetoencephalography. The epileptogenic zone the precise area of aberrant brain activity that causes seizures can be located with the aid of this technique. This information is essential for selecting the best surgical approach to disconnect or remove damaged brain tissue while protecting critical functional regions.
Market Dynamics
Increased focus on brain research is boosting the global magnetoencephalography market growth during the forecast period.
Brain health is a concept that is always changing, gaining attention from the health industry as well as from the general public, and it does so for good reasons. Despite the greatest strategy to stop neurodegenerative changes that lead to clinical dementia later in life is early detection and control of risk factors, research on hazards to brain health still focuses on middle-aged and older persons.
New chances for communicating and early risk profiling are offered by community-based services for managing brain health. Large volumes of data will be produced as a result, advancing our knowledge of the epidemiology of dementia and the effectiveness of therapies.
Increasing applications in clinical diagnostics provide global magnetoencephalography market growth opportunities.
MEG has demonstrated potential as a clinical diagnostic technique for concussion in some patients. With a millisecond time resolution, MEG is a non-invasive method of mapping the functional anatomy of the brain. It does this by detecting magnetic fields produced by neuronal electrical activity. Postsynaptic potentials generated by bundles of axons result in intracellular currents with a magnetic field that can be picked up by MEG.
Magnetic fields are captured by MEG using highly accurate and sophisticated sensors throughout the surface of the skull. Without the need for X-rays, external magnetic fields, or radioactive isotopes (used in nuclear medicine), images can be produced. In its capacity to distinguish between normal and pathological brain activity in location and time, MEG advances existing technology. The cell assemblies that create each field may be located with an unmatched millisecond temporal resolution by detecting the magnetic fields.
COVID-19 Impact Analysis
The COVID-19 pandemic has had a significant impact on the magnetoencephalography market. The pandemic has caused supply chain disruptions, logistical difficulties, and financial uncertainty. These elements might have contributed to a delay in the installation and acquisition of MEG systems. Hospitals, research facilities, and clinics with tight budgets or those attending to the pressing healthcare need brought on by the epidemic may have delayed or scaled back purchases of new MEG equipment.
Russia-Ukraine Conflict Analysis
The impact of the Russia-Ukraine war on the magnetoencephalography market is complex and multifaceted. Because of the disruption caused by the conflict, illness surveillance, and screening initiatives are difficult to successfully implement. Disease surveillance and response could be hampered, which could delay the identification and containment of epidemics.
Segment Analysis
The global magnetoencephalography market is segmented based on application, end-user, and region.
The clinical segment is expected to hold a dominant position in the market over the forecast period.
The clinical segment accounted for the highest market stake accounting for approximately 57.8% of the Magnetoencephalography market in 2022. Around the world, Alzheimer’s disease (AD) accounts for 60% of all occurrences of dementia, making it the most common cause of the illness. With age, there is a higher chance of acquiring AD. In terms of source localization, MEG clearly gives a benefit.
The potential of MEG to predict conversion across the several stages of the disease (preclinical-prodromal-dementia) is a key aspect to take into account when using MEG as a biomarker for AD. There aren't many longitudinal studies and those that do all addressed the transition from MCI to dementia.
Geographical Analysis
Advancements in magnetoencephalography dominate the European region.
Europe is expected to dominate the magnetoencephalography market, accounting for around 27.8% of this market. No external fields or injections are used in the MEG process; instead, it detects magnetic fields that the brain naturally produces. The most sophisticated clinical use of MEG is for epilepsy diagnosis.
Epilepsy affects six million individuals in Europe alone, and there are roughly 300,000 new cases every year. There are more applications for MEG, such as the diagnosis of mild traumatic brain injuries (TBI), which accounts for more than half of the 2.5 million new TBI cases in Europe each year.
Competitive Landscape
The major global players in the market include Compumedics Limited, MEGIN, Ricoh USA, Inc., CTF MEG INTERNATIONAL SERVICES LP, FieldLine Inc., Cerca Magnetics Limited, and Croton Healthcare among others.
Why Purchase the Report?
• To visualize the global magnetoencephalography market segmentation based on the application, end-user, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of magnetoencephalography market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.
The global magnetoencephalography market report would provide approximately 44 tables, 43 figures, and 195 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet by Application
- 3.2. Snippet by End-user
- 3.3. Snippet by Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The increasing incidence of dementia
- 4.1.2. Restraints
- 4.1.2.1. Challenges associated with magnetoencephalography
- 4.1.3. Opportunity
- 4.1.3.1. The increasing applications in clinical diagnostics
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's 5 Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Unmet Needs
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Scenario Before COVID-19
- 6.1.2. Scenario During COVID-19
- 6.1.3. Scenario Post COVID-19
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During the Pandemic
- 6.5. Manufacturers’ Strategic Initiatives
- 6.6. Conclusion
- 7. Russia-Ukraine War Analysis
- 8. Artificial Intelligence Analysis
- 9. By Application
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 9.1.2. Market Attractiveness Index, By Application
- 9.2. Clinical*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.2.3. Dementia
- 9.2.4. Autism
- 9.2.5. Schizophrenia
- 9.2.6. Multiple Sclerosis
- 9.2.7. Stroke
- 9.2.8. Epilepsy
- 9.2.9. Others
- 9.3. Research
- 10. By End-user
- 10.1. Introduction
- 10.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 10.1.2. Market Attractiveness Index, By End-user
- 10.2. Hospitals*
- 10.2.1. Introduction
- 10.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 10.3. Diagnostic Imaging centers
- 10.4. Academic and Research Institutes
- 11. By Region
- 11.1. Introduction
- 11.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 11.1.2. Market Attractiveness Index, By Region
- 11.2. North America
- 11.2.1. Introduction
- 11.2.2. Key Region-Specific Dynamics
- 11.2.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.2.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 11.2.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.2.5.1. U.S.
- 11.2.5.2. Canada
- 11.2.5.3. Mexico
- 11.3. Europe
- 11.3.1. Introduction
- 11.3.2. Key Region-Specific Dynamics
- 11.3.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.3.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 11.3.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.3.5.1. Germany
- 11.3.5.2. U.K.
- 11.3.5.3. France
- 11.3.5.4. Italy
- 11.3.5.5. Spain
- 11.3.5.6. Rest of Europe
- 11.4. South America
- 11.4.1. Introduction
- 11.4.2. Key Region-Specific Dynamics
- 11.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 11.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.4.5.1. Brazil
- 11.4.5.2. Argentina
- 11.4.5.3. Rest of South America
- 11.5. Asia-Pacific
- 11.5.1. Introduction
- 11.5.2. Key Region-Specific Dynamics
- 11.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 11.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 11.5.5.1. China
- 11.5.5.2. India
- 11.5.5.3. Japan
- 11.5.5.4. Australia
- 11.5.5.5. Rest of Asia-Pacific
- 11.6. Middle East and Africa
- 11.6.1. Introduction
- 11.6.2. Key Region-Specific Dynamics
- 11.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Application
- 11.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-user
- 12. Competitive Landscape
- 12.1. Competitive Scenario
- 12.2. Product Benchmarking
- 12.3. Company Share Analysis
- 12.4. Key Developments and Strategies
- 13. Company Profiles
- 13.1. Compumedics Limited*
- 13.1.1. Company Overview
- 13.1.2. Product Portfolio and Description
- 13.1.3. Financial Overview
- 13.1.4. Key Developments
- 13.2. MEGIN
- 13.3. Ricoh USA, Inc.
- 13.4. CTF MEG INTERNATIONAL SERVICES LP
- 13.5. FieldLine Inc.
- 13.6. Cerca Magnetics Limited
- 13.7. Croton healthcare
- LIST NOT EXHAUSTIVE
- 14. Appendix
- 14.1. About Us and Services
- 14.2. Contact Us
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