South and Central America EEG Machines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Integrated EEG, and Portable EEG), Application (Disease Diagnosis, Sleep Monitoring, Anesthesia Monitoring Trauma and Surgery, and Othe

South and Central America EEG Machines Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Integrated EEG, and Portable EEG), Application (Disease Diagnosis, Sleep Monitoring, Anesthesia Monitoring Trauma and Surgery, and Others), and End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Research Laboratories, and Others)

The South and Central America EEG machines market is expected to reach US$ 116.80 million in 2028 from US$ 67.92 million in 2021; it is estimated to grow at a CAGR of 8.8% from 2021-2028. The growth of the South and Central America EEG machines market is attributable to growing product launches and increasing neurological disorders. However, the high cost of EEG machines is a key factor restraining the market growth.

Growing demand for the treatment of neurological disorders and increasing product developments have resulted in increased product launches. Various companies have increased the R&D activities that have helped them launch various innovative EEG machines and associated products and services in the market. The product launches in the market have contributed to the market growth in the past years, which is likely to continue during the forecast period. In April 2020, Brain Scientific Inc. launched an online store to offer its FDA-cleared NeuroCap and NeuroEEG technology. The launch of NeuroCap, a disposable product with 22 electrodes and 19 active EEG channels, will help minimize cross-contamination and optimize sanitary practice.

Similarly, in September 2019, Nihon Kohden announced the launch of its VitalEEG wireless electroencephalogram headset in the US. VitalEEG system helps in evaluating brain-wave information of unconscious patients. The product is developed and designed to quickly set up and allow efficient placement of electrodes within five minutes. As per Nihon Kohden, the Vital EEG system will allow clinicians and physicians to assess brain health and determine the best treatment methods for unconscious patients in less time.

Similarly, the growing geriatric population is expected to influence the incidence of neurological disorders. According to the World Health Organization (WHO) statistics, 2018, the total population over 60 years of age will grow at a rate of 22% by 2050 from 12% in 2015. Hence, owing to the above-mentioned statistics, the demand for EEG machines is expected to increase, which, in turn, will propel market growth.

The Pan American Health Organization (PAHO) has recommended using medical instruments or equipment for home care to avoid exposure in healthcare facilities. Therefore, it is expected to offer growth opportunities to EEG machines players to enhance their sales in the region. Also, the growing geriatric population is more prone to get neurological disorders. The rise of the second wave of COVID-19 has increased stress among adults, which is likely to increase the demand for EEG machines in the coming years.

The South and Central America EEG machine market, by product type, is segmented into integrated EEG and portable EEG. The integrated EEG segment held a larger share of the market in 2020. However, the portable EEG segment is anticipated to register a higher CAGR in the market during the forecast period.

In terms of application, the South and Central America EEG machines market is segmented into disease diagnosis, trauma and surgery, sleep monitoring, anesthesia monitoring, and others. The disease diagnosis segment held the largest share of the market in 2020. Moreover, the same segment is anticipated to register the highest CAGR during the forecast period.

Based on end user, the South and Central America EEG machines market is segmented into hospitals, diagnostic centers, ambulatory surgical centers, research laboratories, and others. The hospitals segment held the largest share of the market in 2020; however, the diagnostic centers segment is anticipated to register the highest CAGR in the market during the forecast period.

The key market players associated with the report on the South and Central America EEG machines market are Koninklijke Philips N.V., Medtronic, and Natus Medical Incorporated, among others.

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