Electroencephalography (EEG) Systems/Devices Market Report

Electroencephalography (EEG) Systems/Devices Market Analysis By Product (8-Channel, 21-Channel, 25-Channel, 32-Channel, 40-Channel), By Type (Portable Devices, Standalone Devices), By End Use, & Segment Forecasts, 2014 - 2025

Published: March 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-428-4

Industry Insights

The global Electroencephalography (EEG) systems/devices market size was valued at USD 687.6 million in 2015 and is anticipated to grow at 7.6% over the forecast period. Increasing prevalence of neurological disorders and rising awareness about these disorders are major factors contributing toward the growth of the market. According to the Society for Neuroscience, around 38% of the European Union population is suffering from one or the other form of mental disorder. Moreover, these conditions cost Europeans more than USD 902.43 billion each year. Hence, in order to detect brain abnormalities in early stages, the demand for advanced EEG products is high and is expected to grow at high rate in the near future.

Escalating R&D investments by manufacturers to provide advanced brain monitoring devices is another major factor significantly contributing toward the growth of the market. For instance, Natus Medical, Inc. invested around USD 30.4 million for R&D in the 2015. The companies are investing in R&D for existing product improvement and new product development to fulfil the increasing demand for advanced devices by customers.

The U.S. EEG market by type, 2014 - 2025 (USD Million)

U.S. EEG market

Product Insights

On the basis of product, the market is segmented into 32-channel EEG, 25-channel EEG, 8-channel EEG,40-channel EEG, 21-channel EEG, and multichannel EEG. In 2015, 32-channel EEG was the largest revenue grossing segment and is also projected to maintain its dominance during the forecast period. The technological advancement in 32-channel EEG products and its high adoption by healthcare professional are major factors driving market growth.

In terms of revenue, the 32-channel EEG segment is followed by 25-channel EEG & 40-channel EEG segmentsin 2015. These segments are expected to show significant growth rate during the forecast period.

Type Insights

On the basis of type, the market is segmented into standalone devices and portable devices. Standalone devices segment accounted for the major revenue share of the EEG devices market in 2015. The standalone devices are the most commonly used type of EEGs. The high application of these devices in critical care is a key factor contributing to its high revenue share.

The portable devices segment is expected to exhibit highest growth rate during the forecast period. The major factor contributing to the growth of this segment is increasing focus of manufacturers on technological advancements, such as portability, light weight, and simultaneous raw data acquisition. Also, rising demand of portable devices for clinical practice and outdoor investigation drives the segment growth.

End-use Insights

Hospitals dominated the overall market in 2015 owing to the growing number of patients suffering with traumatic brain injuries, epilepsy, and other neurological disorders. In addition, the increasing focus on development of healthcare infrastructure in developing countries of Asia Pacific and Africa propels the segment growth.

Diagnostic centers segment is expected to witness fastest growth during the study period, due to the growing awareness for neurodegenerative disorders. The growing awareness of neurological disorders amongst people leads to demand for advanced EEG products for diseases diagnosis and prevention. The demand for advanced diagnostics products is high in developed countries like the U.S. and Germany, due to highly developed healthcare infrastructure in these countries.

North America Electroencephalography market share, by end-use, 2015

North America EEG market

Regional Insights

North America dominated the Electroencephalography systems market in 2015 followed by Europe and Asia Pacific. The rising prevalence of various sleep & neurodegenerative disorders and accessibility to insurance are major factors contributing to growth of the market in this region. Moreover, the presence of highly developed healthcare infrastructure and strong distribution & sales network of leading vendors in this region drives the market growth.

Asia Pacific is estimated to grow at highest rate during the forecast period because of increasing geriatric population in this region. Also, untapped opportunities along with rapidly developing healthcare infrastructure in countries such as India and China is driving the market growth.

Competitive Insights

Some of the key players in the market comprises of Natus Medical, Inc.; Electrical Geodesics, Inc.; Medtronic; NeuroWave Systems, Inc.; Compumedics Ltd.; Noraxon U.S.A., Inc.; Cadwell Laboratories, Inc., and Nihon Kohden America, Inc.

The major companies are undertaking various organic as well as inorganic strategies such as new product development, collaborations, acquisitions, mergers, and regional expansion for serving the unmet needs of their customers. For instance, in July 2016, Compumedics Ltd and Bestmed announced a new 3-year distribution agreement for Compumedics’ neurodiagnostic and monitoring systems across the South and Central China.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual estimates/Historical data

2014 - 2016

Forecast period

2017 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America & MEA

Country scope

U.S., Canada, UK, Germany, India, China, Brazil, Mexico, South Africa

Report coverage      

Revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Electroencephalography systems/equipment/devices market on the basis of product, type, end use, and region:

  • Product Outlook (Revenue, USD Million; 2014 - 2025)

    • 8-channel EEG

    • 21-channel EEG

    • 25 channel EEG

    • 32-channel EEG

    • 40-channel EEG

    • Multi-channel EEG

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Standalone devices

    • Portable devices

  • End-Use Outlook (Revenue, USD Million; 2014 - 2025)

    • Hospitals

    • Diagnostic Centers

    • Others

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • China

      • India

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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