EEG Machines Market is expected to reach US$ 1,937.00 million CAGR of 8.8% Till 2028 with Koninklijke Philips N.V., Medtronic, Natus Medical Incorporated, Nihon Kohden Corporation, Fresenius SE & Co. KGaA, Advanced Brain Monitoring, D & DJ BURTON HOLDINGS

According to The Insight Partners market research study titled “EEG Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End User,” the market is expected to reach US$ 1,937.00 million by 2028 from US$ 990.26 million in 2020. It is estimated to grow at a CAGR of 8.8% from 2021 to 2028. The report highlights the trends prevalent in the market and the factors driving the market along with those that act as deterrents to its growth.

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Based on product type, the EEG machines market is segmented into integrated EEG and portable EEG. The integrated EEG segment held the largest share of the market in 2020, However, the portable EEG segment is anticipated to register the highest CAGR in the market during the forecast period. The growth of portable EEG segment can be attributed to the technological advancements that offer real-time brain activity, which is relatively inexpensive, and noninvasive.

The global EEG machines market is driven by growing product launches and increasing neurological disorders. However, the high cost and disadvantage of EEG machines are the key factors restraining the market growth.

Prominent players operating in EEG machines market include Koninklijke Philips N.V., Medtronic, Natus Medical Incorporated, Nihon Kohden Corporation, Fresenius SE & Co. KGaA, Advanced Brain Monitoring, D & DJ BURTON HOLDINGS, Cephalon A/S, Cadwell Industries Inc, and NeuroStyle Ptd. Ltd. The companies have implemented several inorganic and organic strategies to enhance the market value and maintain their position in the market. For instance, in July 2020, Transcranial magnetic stimulation tech developer Magstim announced that it has purchased the product portfolio of Electrical Geodesics from Royal Philips.

Market Insights

Increasing Neurological Disorders

There is a rise in incidence of neurological disorders among older people. However, due to various factors such as stress, genetic mutations, lifestyle habits, and related chronic conditions, the incidence are seen among people of all age groups. It is estimated that there are over 600 neurologic disorders, among which Parkinson's, Huntington's, Alzheimer's, muscular dystrophy, stroke, meningitis, epilepsy, dementias, migraine, and brain tumors are commonly seen.

According to the Global Burden of Disease report, published in JAMA Neurology 2017, disability-adjusted life-years (DALYs) for most burdensome diseases, such as stroke, migraine, and Alzheimer’s disease, and other dementias, were studied in the US. DALYs for stroke were 3.58 million, for Alzheimer’s disease and other dementias 2.55 million, and for migraine 2.4 million. It is estimated that the incidence is likely to increase in the future with the incidence rate of meningitis (44.8%), traumatic brain injury (44.8%), spinal cord injury (29.1%), and encephalitis (38.5%).

Similarly, the growing geriatric population is expected to influence the incidence of neurological disorders. According to the World Health Organization (WHO) report published in 2018, the total population over 60 years of age will grow at a rate of 22% by 2050 from 12% in 2015. According to the Federal Interagency Forum on Aging-Related Statistics published in 2016, 35.8% of people of age 85 years and above have moderate or severe memory impairment. Therefore, owing to the above-mentioned statistics, the demand for EEG machine is expected to increase, which, in turn will propel the market growth.

The report segments the global EEG machines market as follows:

By Product Type

Integrated EEG
Portable EEG

By Application

Disease Diagnosis
Sleep Monitoring
Anesthesia Monitoring
Trauma and Surgery
Others

By End User

Hospitals
Diagnostic Centers
Ambulatory Surgical Centers
Research Laboratories
Others

By Geography

North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Spain
Rest of Europe
Asia Pacific (APAC)
Japan
China
India
Australia
South Korea
Rest of APAC
Middle East & Africa (MEA)
South Africa
UAE
Saudi Arabia
Rest of MEA
South and Central America (SCAM)
Brazil
Argentina
Rest of SCAM

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