Functional Brain Imaging Systems Market Report 2022 Future Analysis, Demand by Regions and Opportunities with Challenges 2032

As per Persistence Market Research's latest revised industry analysis, the global functional brain imaging systems market was valued at over US$ 3.9 Bn in 2020, and is expected to exhibit a CAGR of 6.3% over the forecast period (2021-2031).

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Increasing incidence of neurological disorders globally, such as Alzheimer's disease, epilepsy, and other dementias; cerebrovascular diseases, including migraine, brain tumors, and other headache disorders; and traumatic disorders due to head trauma; is anticipated to fuel demand for functional brain imaging systems over the coming years.

Advanced research & development and rapid pace of advancements in embedded systems and microelectronics have accelerated development and improvement of brain signal monitoring technologies such as multichannel EEG and fMRI devices. Functional brain imaging system manufacturers are expected to see new growth prospects as the healthcare diagnostic industry evolves and new measures for neurological illness management become available.

Furthermore, increasing need for intensive care for traumatic brain injury and brain aneurysm and availability of new advanced magnetics technologies in these devices are further anticipated to escalate the ease of investigating the central nervous system with lesser processing time. This is expected to boost revenue growth and adoption of functional brain imaging systems over the decade.

Market Competition

Acquisitions, mergers, expansions, and product launches are key strategies adopted by manufacturers to increase their consumer base in different regions.

In 2020, Medtronic received both, CE mark and FDA approval, for its devices- Percept™ PC Deep Brain Stimulation (DBS) System with BrainSense™ technology. This DBS system provides personalized and data-driven neurostimulation treatment by way of capturing, recording, and tracking patient-specific brain signals.
In November 2019, Canon Medical Systems Corporation acquired Switzerland-based MRI research & development company Skope Magnetic Resonance Technologies AG. This acquisition is expected to facilitate the development of innovative technologies in MR imaging and diagnostics.

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Key Takeaways from Market Study

By product, electro encephalography systems are expected to hold 54.3% market value share by the end of 2031, primarily because of high prevalence of central nervous system disorders.
Based on modality, standalone devices are leading with 78.7% market share in 2020, encompassing stationary healthcare settings, including hospitals.
Hospitals dominated the end-user segment with a share of around 50.6% in 2020, due to increasing imaging and diagnostic procedures for infectious diseases.
By region, North America is slated to be the leading market with a value share of 37.2% at the end of the forecast period, owing to the presence of major market players in the region.

"Rising prevalence of infectious diseases affecting the central nervous system and subsequent occurrence of neural disorders will drive demand of functional brain imaging systems," says an analyst of Persistence Market Research.

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 Key Questions Answered in This Report.

What are the Roadblocks for Functional Brain Imaging Systems Suppliers?
What are the Key Opportunities for Functional Brain Imaging Systems Manufacturers?
How is Focus on Safety Influencing Functional Brain Imaging Systems Demand?
What is the Regulatory Impact on Global Sales of Functional Brain Imaging Systems?
Which Region Offers the Largest Opportunity for Sales of Functional Brain Imaging Systems?
Where Does the U.S. Stand in the Market for Functional Brain Imaging Systems?
What Is the Outlook for Functional Brain Imaging Systems Manufacturers in China?
Why is Germany a Lucrative Market for Functional Brain Imaging Systems Manufacturers?
Why Will Belgium Outpace Other European Markets for Functional Brain Imaging Systems?
Why is There High Demand for Tires in Functional Brain Imaging Systems?
Why are Sales of Functional Brain Imaging Systems Surging?

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This release was published on openPR.