Electroencephalography Equipment Market Outlook - 2026
The electroencephalography equipment market size accounted for $1,403 million in 2018, and is expected to reach $1,999 million by 2026, registering a CAGR of 4.5% from 2019 to 2026.
Electroencephalography equipment is used to monitor the electrical signals of the brain. However, these electrical signals are very weak and thus, an amplifier is employed to magnify the voltage. The readings from an EEG device are used to diagnose various neurological disorders and monitor sleep disorders and patients under anesthesia. The equipment works with the help of electrodes that are attached to the scalp of the patient to collect the reading of the brain wave. EEG equipment are mostly used in hospitals, diagnostic laboratories, ambulatory surgery centers, and others.
The major factors that drive the electroencephalography equipment market growth are surge in geriatric population, and increase in adoption of EEG equipment in surgery centers. Furthermore, rise in prevalence of neurological disorders such as epilepsy and Alzheimer’s disease, also boost the growth of the electroencephalography equipment market. In addition, technological advancements in the field of EEG equipment is another factor that contributes to the growth of the global EEG equipment market. However, presence of substitute products hinders the growth of the market. Conversely, growth potential in developing nation is expected to serve as a lucrative opportunity for the global EEG equipment market during the forecast period.
Electroencephalography Equipment Market Segmentation
The electroencephalography equipment market is segmented based on product, application, end user, and region to provide a detailed assessment of the market. Based on product, the market is divided into EEG equipment and EEG accessories. Moreover, EEG equipment is further bifurcated into integrated EEG system and portable EEG system. Based on application, the market is divided into diseases diagnosis, sleep monitoring, anesthesia monitoring, trauma & surgery and others. On the basis of end user, the market is classified into hospitals, diagnostic centers, ambulatory surgical centers, research laboratories and others. Based on region, the EEG market size is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, and rest of LAMEA).
On the basis of product, the EEG accessories segment was a major revenue contributor in 2018 and is expected to maintain its dominant position throughout the analysis period as these devices are purchased repeatedly. Moreover, the other factors that contribute to the growth of this market include the surge in various neurological disorders such as epilepsy, Alzheimer’s and others.
EEG Accessories segment holds a dominant position in 2018 and would continue to maintain the lead over the forecast period.
According to application, the disease diagnosis segment accounted for the highest market share in 2018, and is expected to register fastest growth rate, owing to surge in prevalence of neurological disorders such as epilepsy, Alzheimer disease, and others across the globe. Moreover, increase in adoption of EEGs in neonatal intensive care units (NICUs) is another major reason that boost the growth of this segment.
By End User
Hospitals is projected as one of the most lucrative segment.
Based on region, North America accounted for a major share of electroencephalography equipment market size in 2018 and is expected to continue this trend owing to higher number of R&D activities, presence of skilled technicians, and wide availability of technologically advanced EEG equipment. Moreover, surge in prevalence of various neurological disorders is another factor that boosts the EEG market in the region. On the other side, Asia-Pacific is estimated to register the fastest growth during the forecast period owing to rise in healthcare expenditure, and surge in prevalence of various neurological disorders such as epilepsy and others.
Asia-Pacific region would exhibit the highest CAGR of 5.1% during 2019-2026.
The global EEG equipment market is highly competitive and the prominent players have adopted various strategies for garnering maximum share in the market. These include collaboration, product launch, partnership, and acquisition. Major players operating in the 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.
Key Benefits for Electroencephalography Equipment Market:
- This report entails a detailed quantitative analysis along with the current global electroencephalography equipment market trends from 2019 to 2026 to identify the prevailing opportunities along with the strategic assessment.
- The electroencephalography equipment market forecast is studied from 2019 to 2026.
- The EEG market size and estimations are based on a comprehensive analysis of key developments in the electroencephalography equipment industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
Electroencephalography Equipment Market Segments:
- EEG Equipment
- Integrated EEG Systems
- Portable EEG Systems
- EEG Accessories
- Disease Diagnosis
- Sleep Monitoring
- Anesthesia Monitoring
- Trauma and Surgery
By End User
- Diagnostic Centers
- Ambulatory Surgical Centers
- Research Laboratories
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Electroencephalography Equipment Market Report Highlights
By END USER
Key Market Players
Compumedics Limited, Neurostyle Pte Ltd., Cephalon A/S, Nihon Kohden Corporation, Medtronic plc., Natus Medical Incorporated, Cadwell Industries, Inc., Fresenius SE & Co. KGaA, Koninklijke Philips N.V. (Philips Healthcare), Advanced Brain Monitoring, Inc.
Electroencephalogram (EEG) is a diagnostic test that is employed for monitoring the electrical activity of the brain. This involves the tracking and recording of patterns of the brain functions which are then analyzed to diagnose different neurological conditions such as epilepsy, Alzheimer’s disease, and others. In addition, this test is also used to monitor head injuries, epilepsy, dizziness, headaches, brain tumors, and sleep disorders.
Factors responsible for driving the growth of the electroencephalography equipment market are rise in prevalence of neurological disorders that require brain monitoring. In addition, rise in adoption of EEG equipment across the globe is the prime growth factor for the growth of the global electroencephalography equipment market. However, high availability of other alternative brain monitoring devices restricts the growth of the market.
North America garnered the largest share of this market due to rise in research activities related to drug development, easy availability of EEG equipment, and surge in adoption of these devices in surgical centers of this region.