PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398833
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1398833
EEG Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)
The EEG Devices Market is on an upward trajectory, with global revenue reaching approximately US$ 1.55 billion in 2024. The market is poised to reaching an estimated valuation of US$ 2.76 billion by the end of 2031.
Market Dynamics
The market for EEG devices is witnessing significant growth, primarily attributed to the increasing prevalence of neurological disorders worldwide. Conditions such as epilepsy, Parkinson's disease, Alzheimer's disease, cerebrovascular diseases, and other neurological disorders are on the rise, creating lucrative opportunities for the EEG devices market.
According to estimates by the World Health Organization (WHO), cerebrovascular diseases are projected to account for 3.9% of all disability-adjusted life years (DALYs) by 2030, while epilepsy will represent 0.5% to 1.0% of DALYs. Scientists and researchers are exploring brain-controlled interface technology, allowing electrical equipment to be controlled through brain activity. The growing demand for wearable technology also contributes to the market's future growth.
Growth Opportunities
Companies are developing EEG devices for various applications, including behavioral analysis, meditative state monitoring, and eye blink artifact detection, apart from vital brain monitoring. Wireless EEG devices, in particular, are expected to witness increased demand due to ongoing investigations into prospective applications of EEG wearable technology.
The development of real-time tracking systems for blood bags during processing, transit, and storage is contributing to the demand for EEG devices. Manufacturers like Watson Label Products offer customizable monitoring options for EEG devices and blood processing machinery.
Challenges and Limitations
EEG tests have limitations in terms of spatial resolution compared to other brain monitoring methods such as fMRI and EMG. The measurements are obtained from the scalp, making it challenging to pinpoint the precise source of brain activity. Inaccurate EEG results can also occur due to the presence of deep or minor lesions, mislocalized epileptogenic zones, effects of hypoglycemia and alertness, and short sampling periods.
Additionally, the availability of various brain monitoring methods, including EMG, fMRI, CT, and PET, leads to consumers switching between technologies, hindering market growth.
Country-wise Insights
- United States: The US market is booming due to the increased incidence of sleep and neurodegenerative disorders, well-developed healthcare infrastructure, and strong distribution and sales networks of top manufacturers. Favorable reimbursement policies for neurological disorder diagnosis further boost market growth.
- Germany: Germany's EEG devices market is expanding, driven by a growing number of patients suffering from cognitive disorders, including Alzheimer's disease and dementia. The rising awareness of brain function monitoring devices contributes to increased demand.
Competitive Landscape
Key Companies Profiled
Key Segments Covered in EEG Devices Industry Research
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Table of Contents
1. Executive Summary
- 1.1. Global EEG Devices Market Snapshot
- 1.2. Future Projections
- 1.3. Key Market Trends
- 1.4. Regional Snapshot, by Value and Volume, 2023
- 1.5. Analyst Recommendations
2. Market Overview
- 2.1. Market Definitions and Segmentations
- 2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
3. Production Output and Trade Statistics, 2018 - 2023
4. Price Analysis, 2018 - 2023
5. Global EEG Devices Market Outlook, 2018 - 2031
6. North America EEG Devices Market Outlook, 2018 - 2031
7. Europe EEG Devices Market Outlook, 2018 - 2031
8. Asia Pacific EEG Devices Market Outlook, 2018 - 2031
9. Latin America EEG Devices Market Outlook, 2018 - 2031
10. Middle East & Africa EEG Devices Market Outlook, 2018 - 2031
11. Competitive Landscape
12. Appendix
