Magnetoencephalograph Market Growing to Exhibit a Remarkable CAGR of 4.90% By 2029

The growing geriatric population is also expected to drive the growth of the market, since they are more prone to neurodegenerative diseases. According to the World Health Organization, neurological disorders are a leading cause of death, accounting for 12.0% of all deaths worldwide. In the present case scenario, more than 5.8 million Americans have Alzheimer's disease. By 2050, it is expected that nearly 14 million (approx.). Alzheimer's disease is the sixth leading cause of death in the United States and is more prevalent among people above 65 years of age.

Data Bridge Market Research analyses that the magnetoencephalograph market is growing at a CAGR of 4.90% during the forecast period and is likely to reach USD 393.91 million by 2029. By application, the clinical segment dominated the magnetoencephalograph market and accounted for the largest revenue share of over 56.0% in 2020, and is further expected to continue its dominance throughout the forecast period.

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Magnetoencephalograph is a medical instrument specially designed to measure the mapping of brain and brain disorders by producing magnetic field that is being produced by electric current. It is used to produce a magnetic image that will help to cure the brain tumour.

Recent Developments

In 2020, 1.9 million dollars were spent on collaborative research between scientists at the University of Nottingham and University College London (UCL) to improve the mapping of the human brain. Researchers working on magnetoencephalography (MEG) have 3D printed a prototype helmet that could triple the sensitivity of current MEG devices.
York Instruments Ltd., a Croton Healthcare company, created the next-generation magnetoencephalography (MEG) brain scanner in 2021, using the newest HyQUID sensors technology included in MEG devices. It is a fresh take on the common SQUID technology used in older MEG devices. The HyQUID retains the SQUID's magnetic field sensitivity while having improved overall performance characteristics and being easier to construct and calibrate

Major Players in Magnetoencephalograph Markets are:

Compumedics Limited, biomagcentral.org, Siemens Healthcare LLC, Yokogawa Electric Corporation, Croton Healthcare, CTF MEG INTERNATIONAL SERVICES LP, Johnson & Johnson Services Inc., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company. F-Hoffmann-La Roche Ltd, Novartis AG, Otsuka Holdings Co., Ltd., Pfizer Inc., GlaxoSmithKline plc , Alkermes , ALLERGAN, Janssen Pharmaceuticals, Inc., Solvay Meiji Holdings Co, Ltd., Abbott, Jazz Pharmaceuticals, Inc., AbbVie Inc., Vertical Pharmaceuticals, LLC, ACADIA Pharmaceuticals Inc., Medtronic  and Bausch Health among others.

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