The electroencephalographs market consists of devices used for recording electrical activity in the brain. Electroencephalographs help physicians in diagnosing brain disorders like dementia, epilepsy, sleep disorders and other neurological issues, through continuous monitoring of brain signals. EEG devices provide the advantage of being non-invasive and not requiring implanting foreign material inside the body. They help detect abnormalities that may not be visible on CT or MRI scans. The growing geriatric population and increasing incidence of neurological disorders have boosted demand for EEG tests globally.

The Global electroencephalographs market is estimated to be valued at US$ 2919.86 MN in 2024 and is expected to exhibit a CAGR of 10.% over the forecast period 2024 to 2030.

Key Takeaways

Key players operating in the electroencephalographs market are HEYER Medical AG, Medicom MTD, Draeger, Inc., Natus Medical Incorporated, Masimo, NeuroWave Systems Inc., Brain Products, elmiko medical, CamNtech Ltd, Danmeter, Neurosoft and MT MonitorTechnik GmbH & CO.KG.

The Electroencephalographs Market provides opportunities for companies to invest in the upgradation of existing EEG devices with advanced features like wireless remote monitoring, integration of AI and machine learning. Growing application areas like assessing brain function impairment and concussion management also present new growth avenues.

Technological advancements are bringing about improvements in EEG electrodes, montages, acquisition systems and analysis software. Paper-thin flexible electrodes and dry electrode technology enhance user comfort. Advances in signal processing and machine learning allow detection of subtle brain signals and more accurate interpretation of recordings. Portable wireless EEG devices are enabling expanded use in ambulatory and home settings.

Market drivers

The rising geriatric population vulnerable to neurological disorders is a key driver for the electroencephalographs market. According to estimates, neurological disorders affect over 2 billion people worldwide. Growing incidence of Alzheimer’s, Parkinson’s, epilepsy and stroke cases is augmenting demand for EEG monitoring and diagnosis. Increased acceptance of EEG as a reliable, preferred diagnostic method for various brain conditions also stimulates market revenues. Favorable regulatory environment and reimbursement schemes further encourage adoption of EEG devices.

Challenges in the Electroencephalographs Market
The electroencephalographs market faces challenges in the areas of cost, portability, accuracy and complex regulatory framework. High equipment and installation costs pose a major barrier for widespread adoption, especially in developing regions with budget constraints in the healthcare system. Portability also remains an issue for conventional EEG devices which are stationary units installed in hospitals and diagnostic centers. This restricts real time remote monitoring capabilities. Ensuring high accuracy of EEG readings across different environments and subjects is another technical challenge due to variations in brain wave patterns. Regulatory compliance involving product approval and certification differs across geographies adding to compliance burden for manufacturers.

SWOT Analysis

Strength: EEG provides non-invasive functional brain mapping with millisecond temporal resolution. Equipment have high sensitivity in detecting abnormal electrical patterns related to various medical conditions.
Weakness: EEG has relatively low spatial resolution compared to other neuroimaging techniques. Data interpretation requires specialized clinical expertise which is not widely available.
Opportunity: Growing neurological disorders, untapped emerging markets and technological advances are driving new product development and clinical applications. Portable wearable EEG innovations are expanding use cases beyond hospitals.
Threats: High costs impacts market growth in price sensitive regions. Intense competition from substitutes like MRI, CT, PET posing substitutability threat. Stringent regulations delays product launch and market entry.

Geographical Regions
North America accounts for the largest share of the electroencephalographs market currently due to rising incidence of neurological disorders, growing awareness, developed healthcare infrastructure and availability of reimbursements. The United States dominates the North America EEG devices market.
Asia Pacific region is poised to grow at the fastest pace over the forecast period driven by factors like rising healthcare spending, expanding medical tourism industry, growing economy and huge patient pool in highly populated countries like China and India.

Electroencephalographs Market
The Asia Pacific region is poised to grow at the fastest pace over the forecast period for the global electroencephalographs market. This is due to rising healthcare expenditure, increasing disposable incomes, growing medical tourism industry and active government efforts to modernize healthcare infrastructure in emerging Asian countries. China and India particularly offer immense business opportunities owing to their huge patient population and rapid economic growth. Additionally, low manufacturing and labor costs are attracting major device manufacturers to establish regional manufacturing facilities to cater to the local demand. This is positively impacting market access and affordability of EEG devices in Asia Pacific. Government initiatives to spread awareness about neurological disorders will also supplement the market expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it