Medical equipment called electroencephalography (EEG) devices is used to track and document electrical activity in the brain. These devices assist diagnose neurological problems such epilepsy, sleep disorders, brain tumors, and cognitive impairments by using electrodes applied to the scalp to detect and record brainwave patterns. EEG devices are frequently utilized for neurofeedback therapy and real-time brain monitoring in ambulatory settings, research facilities, and hospitals. Wireless and portable EEG systems have been developed as a result of technological advancements, improving patient comfort and accessibility. Global demand for EEG equipment is driven by the rising incidence of neurological illnesses and the expanding use of brain-monitoring technologies.
According to SPER market research, ‘Global Electroencephalography Devices Market Size- By Type, By Application, By Product - Regional Outlook, Competitive Strategies and Segment Forecast to 2034’ state that the Global Electroencephalography Devices Market is predicted to reach 3.68 billion by 2034 with a CAGR of 10.64%.
Drivers:
The rising incidence of neurological conditions like epilepsy, Alzheimer's disease, and sleep problems is propelling the global market for electroencephalography (EEG) devices. The growing elderly population, which is more vulnerable to neurological disorders, contributes to the market's expansion. Technological innovations that improve accessibility and diagnostic effectiveness include wireless and portable EEG equipment. The market is growing as a result of rising investments in brain research and the growing application of EEG in cognitive and psychological research. The need for non-invasive diagnostic techniques and growing awareness of mental health issues also contribute to the market's expansion. The sector is additionally supported by government financing and programs for neurological research.
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Restraints:
Among the many obstacles facing the global market for electroencephalography (EEG) devices are the exorbitant prices of sophisticated EEG systems, which restrict accessibility in underdeveloped areas. There is a lack of qualified neurologists and technicians due to the intricacy of interpreting EEG data, which calls for qualified specialists. Furthermore, there is competition from other neuroimaging methods including CT and MRI scans. Market expansion is further hampered by some jurisdictions' limited reimbursement rules for EEG procedures. Risks associated with cloud-based EEG systems also include worries about cybersecurity and data privacy. EEG device adoption can also be slowed by problems like signal interference, patient discomfort during lengthy recording sessions, and regulatory obstacles.
The United States holds dominance over the global electroencephalography (EEG) device market due to several key factors. The country has a well-established healthcare infrastructure, high adoption of advanced neurodiagnostic technologies, and strong investment in research and development. Some significant market players are ANT Neuro, Brain Products GmbH, Compumedics Ltd., Electrical Geodesics, Inc., Lifelines Neuro, Medtronic, Micromed, Mitsar, Natus Medical, Inc., Neurosoft, Nihon Kohden America, Inc., and others.
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Electroencephalography Devices Market Growth
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