Global demand for Electroencephalography Equipment Market was valued at approximately USD 1445.96 Million in 2018, and is expected to generate revenue of around USD 1930.01 Million by end of 2025, growing at a CAGR of around 4.26% between 2018 and 2025.
The report covers forecast and analysis for the Electroencephalography Equipment market on a global and regional level. The study provides historic data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Million). The study includes drivers and restraints for the Electroencephalography Equipment market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Electroencephalography Equipment market on a global level. In order to give the users of this report a comprehensive view on the Electroencephalography Equipment market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Product, Application, End user, and regional segments are benchmarked based on their market size, growth rate and general attractiveness.
According to the report, global demand for Electroencephalography Equipment Market was valued at approximately USD 1445.96 Million in 2018, and is expected to generate revenue of around USD 1930.01 Million by end of 2025, growing at a CAGR of around 4.26% between 2018 and 2025.
Electroencephalographic instruments are used to track the brain's electrical signals. Such electrical signals, however, are very low and therefore an amplifier is used to magnify the voltage. The Electroencephalographic test readings are used to identify various neurological disorders and monitor under anesthesia sleep disorders and patients. The machine works to capture the brain wave reading with the aid of electrodes attached to the patient's scalp. Electroencephalographic equipment is mostly used in hospitals, labs for treatment, facilities of outpatient surgery and others.
The study provides a decisive view on the Electroencephalography Equipment market by segmenting the market based on Product, Application, End user and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2025. Based on Product, the market is segmented into EEG Equipment, EEG Accessories, Integrated EEG Systems and Portable EEG Systems. The EEG Accessories segment was a major revenue contributor in 2018 and as these products are purchased regularly, it is expected to maintain its dominant position throughout the study era. In addition, the other factors contributing to this market's development include the increase in various neurological disorders such as autism, Alzheimer's and others.
Based on the Application segment, the market is bifurcated Anesthesia Monitoring, Disease Diagnosis, Sleep Monitoring, Trauma and Surgery and Others. The disease diagnosis category accounted for the largest market share in 2018, according to the report, and is projected to experience the fastest growth rate due to an increase in the prevalence of neurological disorders such as autism, Alzheimer's disease, and others around the globe. Increasing the use of EEGs in neonatal intensive care units (NICUs) is also a major reason for this segment's development. Based on the End user segment, the market is bifurcated into Hospitals, Diagnostics and ASCs and Others.
The geographical segmentation comprises the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market size of electroencephalographic equipment in 2018, and this trend is expected to continue due to a higher number of R&D operations, the presence of trained technicians and the wide availability of technologically advanced EEG equipment. In addition, the rise in the prevalence of different neurological disorders is another factor improving the region's EEG market. On the other hand, it is projected that Asia-Pacific will show the fastest growth in the forecast period due to increased healthcare spending, and the prevalence of various neurological disorders such as epilepsy and others will increase.
The major factors driving the growth of the demand for electroencephalographic equipment are an increase in the geriatric population and an increase in the use of electroencephalographic equipment in surgical centers. In addition, the rise in the incidence of neurological disorders such as epilepsy and Alzheimer's disease often promotes the development of the demand for electroencephalographic equipment. Furthermore, electroencephalographic equipment technological advances are another factor contributing to the growth of the global electroencephalographic equipment market. The emergence of alternative goods, however, hinders market growth. In comparison, growth potential is expected to serve as a lucrative opportunity in the forecast period for the global electroencephalographic equipment industry.
Key players within global Electroencephalography Equipment market include Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., Cephalon A/S, Compumedics Limited, Fresenius SE & Co. KGaA, General Electric Company (GE Healthcare), Koninklijke Philips N.V. (Philips Healthcare), Medtronic plc., Natus Medical Incorporated, and Nihon Kohden Corporation amongst others.
The report segments global Electroencephalography Equipment market as follows:
Global Electroencephalography Equipment Market: Product Segment Analysis
Global Electroencephalography Equipment Market: Application Segment Analysis
Global Electroencephalography Equipment Market: End user Segment Analysis
Global Electroencephalography Equipment Market: Regional Segment Analysis