EEG Devices Market Analysis 2019 | Brain Products, Cognionics, Wearable Sensing, Neuroelectrics, ANT Neuro, Mitsar, Neurosky, Biosemi, Bitbrain Technologies

The global EEG devices market is expected to reach US$ 1,764.27 Mn in 2027 from US$ 830.71 Mn in 2018. The market is estimated to grow with a CAGR of 8.9% from 2019-2027.

The key factors driving the growth of the market are growing incidences of neurovascular disorders and significantly rising elderly population. However, the restraints such as the high cost of EEG devices are likely to impact the growth of the market in the forecast period.

Various companies are focusing on organic strategies such as product launch and product approvals. For instance, in December 2017, Brain Products has extended the line with a 64 channel version to complement the LiveAmp family that is the most flexible wireless high-density EEG/ExG recording system.

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Key Players:

• Brain Products GmbH
• Cognionics, Inc.
• Wearable Sensing
• Neuroelectrics
• ANT Neuro
• Mitsar Co. Ltd.
• Neurosky
• Biosemi
• Koninklijke Philips N.V.
• Bitbrain Technologies

The global EEG devices market, based on the device type was segmented into standalone devices and portable devices. In 2018, the standalone devices segment held the largest share of the market. However, the portable devices segment is expected to grow at the fastest rate during the coming year. Portable EEG devices are used for long term signal recording or remote real-time monitoring. They are frequently small-sized and low-cost and consequently suitable for daily using. With smaller size and low cost, it is suitable for daily usage which owes to its fastest growth over the coming years.

Strategic Insights

The companies operating in the EEG devices market have been implementing various strategies to grow in their corresponding markets; this has, in turn, enabled them to bring various changes in the market. The companies have utilized strategies such as product launches, and approvals of their product portfolio and acquisitions for the growth of their organizations.

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