Brain Mapping Instruments Market

Brain Mapping Instruments Market Research, 2031

The global brain mapping instruments market was valued at $2.1 billion in 2021, and is projected to reach $3.7 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031. Brain mapping is the most precise way to identify and protect critical brain regions during the removal of a tumor. Patients may need this procedure if their tumors are located near language, motor, or sensory regions of the brain. An advanced brain mapping technique has enabled doctors to remove as much of a brain tumor as possible while minimizing the impact on the crucial areas of the brain that control movement, speech, and the senses. Surgeons now are capable of accurately targeting their dissection down to the smallest degree by using 3-dimensional imaging technology to operate on the brain. This helped to achieve the goal to remove all or most of the tumor without producing any permanent neurological deficit in the patient.

The COVID-19 pandemic witnessed a negative impact on the brain mapping instruments industry, owing to the situation of COVID-19 that did not allow the neurological patients to travel to a hospital for any kind of invasive procedure to evaluate the neurological harm of the patient. Hence, the patients with neurological conditions were made to postpone the treatment procedures for the patients.

Market Dynamics

The growth in the medical devices industry for the adoption of brain mapping instruments is expected to increase at a faster rate owing to the massive pool of neurological diseases among the target population, which creates an opportunity for the Brain Mapping Instruments Industry. The rise in the launch of new devices due to advanced technology by various key players across the globe is set to affect market growth positively. For instance, in February 2019, Nihon Kohden announced that it has launched its VitalEEG wireless electroencephalogram headset in the U.S. The EEG system quickly evaluates brain-wave information of unconscious patients. 

The growth of the Brain Mapping Instruments Market Size is also expected to be driven by high potential in adoption of the devices in developing countries due to increase in the prevalence of neurological disorders, surge in practice to diagnose the children for neurological diseases and rise in demand for brain mapping. Furthermore, the healthcare industry in emerging economies is developing at a significant rate, owing to significant investments by government to improve people healthcare, and strong foothold of medical technology industries in emerging countries.

In addition, the launch of cost-effective devices may also decide the adoption of the device. Hence, the product launch factor for the brain mapping instruments is attributed to further support the Brain Mapping Instruments Market Growth. Factors such as rise in adoption of neurological devices among the pediatric patients and increase in awareness toward chronic neurological diseases risks further drive the growth of the market. Furthermore, rise in consumer awareness related to preventive healthcare of geriatric population boosts the adoption of brain mapping instruments. 

However, the cost of brain mapping instruments and treatment procedures are hampering the market growth. Moreover, stringency in product approval is anticipated to hamper the growth of the market. Increasing R&D activities in the field of medical devices along with significant improvement in healthcare infrastructure are anticipated to provide new opportunities for the expansion of the market.

Segmental Overview

The brain mapping instruments market is segmented based on product type, end user and region. On the basis of product type, the market is classified into computed tomography (CT), positron emission tomography (PET), electroencephalography (EEG), near-infrared spectroscopy (NIRS), magnetic resonance imaging (MRI) and others. On the basis of end user, the market is classified into hospitals, clinics, ambulatory centers and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

By Product Type

The Computed Tomography segment dominated the global Brain Mapping Instruments Market Size in 2021 and is expected to remain dominant throughout the forecast period, owing to an increase in the prevalence of brain diseases like stroke among the population. However, Positron Emission Tomography (PET) is expected to witness the highest CAGR during the analysis period, owing to the launch of new devices, the availability of several types of devices developed by various key players in the market and an increase in the support from the government authorities for the cost-effective treatment of patients.

By End User

The hospitals segment held the largest Brain Mapping Instruments Market Share in 2021 and is expected to remain dominant throughout the Brain Mapping Instruments Market Forecast period, owing to the high preference of the population for the treatment of the diseases among the hospitals and the increase in the prevalence of neurological diseases among the target population. However, Ambulatory Centers is expected to witness the highest CAGR during the analysis period, owing to growth in awareness regarding neurological conditions, and the affordable price at ambulatory centers.

By Region

By Region, in 2021, North America was the dominant region and is expected to remain dominant throughout the forecast period, owing to high prevalence rates of brain diseases such as seizures and hydrocephalus among the population and the increase in the number of market players available in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to the presence of high populace countries such as India and China, which in turn increases the number of chances of suffering from brain conditions.  

COMPETITION ANALYSIS

Competitive analysis and profiles of the major players in the brain mapping instruments, such as Elekta AB, Siemens AG, Koninklijke Philips N.V., Medtronic plc, Medtronic plc, General Electric Company, Advanced Brain Monitoring, Inc., Brain Products GmbH, Brainscope Company Inc., and Compumedics Limited are provided in this report. There are some important players in the market such as Siemens AG, Koninklijke Philips N.V., Medtronic plc and General Electric Company. Various players have adopted strategies such as product launch and product approval as key developmental strategies to improve the product portfolio of the brain mapping instruments market.  

Product launches in Brain Mapping Instruments Market market

• In May 2022, Elekta launched its next-generation Gamma Knife. This system will offer faster and automated treatment planning for clinicians.
• In May 2021, Philips launched its Spectral Computed Tomography 7500 System. This system delivers high quality spectral images for every patient and helps to improve disease characterization.

Product approval in the Brain Mapping Instruments Market 

• In October 2022, Elekta's new Leksell Gamma Knife radiosurgery platform received FDA (Food and Drug Administration) 510(k) clearance. Clearance of Leksell Gamma Knife will help the company to gain a strong foothold in the brain mapping instruments market.
• In February 2020, Compumedics received 510(K) clearance from the U.S. Food and Drug Administration (FDA) for its Orion LifeSpan Magnetoencephalography (MEG) single Dewar system for mapping brain activity.

Collaboration in the Brain Mapping Instruments Market

• In June 2021, Philips collaborated with Spanish National Center for Cardiovascular Research (CNIC) to develop a magnetic resonance (MR) imaging technique that could potentially revolutionize the use of MR imaging in cardiology.

Partnership in the Brain Mapping Instruments Market

• In October 2020, Philips partnered with SimonMed Imaging an outpatient imaging provider company, to provide 3T MRI Philips technology across the U.S.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the brain mapping instruments market analysis from 2021 to 2031 to identify the prevailing Brain Mapping Instruments Market Opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the brain mapping instruments market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global brain mapping instruments market trends, key players, market segments, application areas, and market growth strategies.

 Brain Mapping Instruments Market Report Highlights