Brain Mapping Instruments Market Expected to Reach $3.7 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Brain Mapping Instruments Market," The brain mapping instruments market was valued at $2.1 billion in 2021, and is estimated to reach $3.7 billion by 2031, growing at a CAGR of 6.1% from 2022 to 2031.

Brain mapping is a technique that is used to study the functions and structure of various regions of the brain. Brain mapping is also used for the recording of brain wave activities. It helps surgeons to identify brain areas that are responsible for different functions in the body like vision, sensation, movement, and speech. Brain mapping also helps to detect various abnormalities like seizures, toxic injuries, tumors, Alzheimer's diseases and other infections. Brain mapping helps to identify the external environment which changes brain structure and the reason for brain diseases and mental illness. 

The growth of the global brain mapping instruments market is expected to be driven primarily by Brain Mapping Instruments Market Trends such as rise in prevalence of brain conditions such as Alzheimer's diseases, epilepsy seizures, toxic injuries and tumors. Increase in number of populations approaching advanced age, rise in neurological incidences among populations, and surge in the geriatric population. Moreover, surge in awareness of brain mapping among the population, increase in adoption of advanced throughput technologies, and growth in expenditure from these authorities boosts the research activities which foster the use of brain mapping instruments thereby driving the Brain Mapping Instruments Market Growth.

Moreover, the launch of new products with the advancement and rise in the inclination toward amputation procedures would help boost market growth in the coming years. However, the high cost and greater maintenance associated with these devices and lack of reimbursement policies is expected to hinder the growth of the Brain Mapping Instruments Market Size. Conversely, an increase in the number of R&D investments by medical devices companies is expected to create lucrative opportunities for the Brain Mapping Instruments Industry. 

The brain mapping instruments market is segmented on the basis of products type, end user and region. On the basis of products 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 divided into hospitals, clinics, ambulatory centers and others. Region wise, the market is studied across North America, Europe, Asia-Pacific and LAMEA. 

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 (FMRI) and others. The positron emission tomography (PET) segment is projected to exhibit the fastest market growth during the forecast period, owing to an increase in the adoption of electroencephalography (EEG) and rise in the number of diagnostic procedures for neurological conditions. For instance, according to the data by World Health Organizations, in February 2023, around 50 million people worldwide have epilepsy, making it one of the most common neurological diseases globally. 

On the basis of end user, the market is classified into hospitals, clinics, ambulatory centers and others. The ambulatory centers segment is anticipated to grow at the highest rate, owing to an upsurge in demand for brain mapping instruments among the hospitals. Moreover, the increase in the number of ambulatory surgery centers, and the rise in the number of product launches and advancements in brain mapping instruments also contribute toward the growth of the market. For instance, in July 2021, Omniscient Neurotechnology announced that it has received U.S. Food and Drug Administration (FDA) 510(k) clearance for Quicktome, a digital brain mapping platform that allows neurosurgeons to visualize and understand a patient's brain networks prior to performing life-changing brain surgery. 

On the basis of region, the market is studied across North America (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). In 2021, North America was the dominant Brain Mapping Instruments Market Share and is expected to remain dominant throughout the forecast period, owing to high expenditure in the research and development activities by the market players, increase in the number market players present in the region and surge in the product launches in the region. However, Asia-Pacific is expected to witness the highest CAGR during the analysis period, owing to increase in the number of patients of brain diseases which helps to accelerate the demand for brain mapping instruments and the increase in number of strategies and trends adopted by the market players like product launch and acquisition. 

Key findings of the study 

• By product type, the computed tomography segment accounted for major share of the brain mapping instruments market in 2021.  

• By end user, the ambulatory centers segment is anticipated to grow with the highest CAGR throughout the forecast period. 

• By region, North America occupied major share of the brain mapping instruments market in 2021.