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Electroencephalography (EEG) & Electromyography (EMG) Equipment Market Insights 2024
Electroencephalography (EEG) & Electromyography (EMG) Equipment Market Insights
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According to The Business Research Company's, The EEG and EMG equipment market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.20 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing prevalence of neurological disorders, rising geriatric population, awareness and diagnosis, regulatory support, healthcare expenditure.
The EEG and EMG equipment market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. The growth in the forecast period can be attributed to regulatory developments, emerging market growth, home healthcare, patient-centric healthcare, and increasing healthcare expenditure. Major trends in the forecast period include technological innovations, personalized medicine, remote monitoring and telemedicine, digital equipment, and the and the integration of AI.
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Market Drivers and Trends:
The rising incidence of neurological disorders is expected to propel the growth of the EEG and EMG equipment markets going forward. Neurological disorders encompass a range of conditions affecting the brain, spinal cord, and nerves, often impacting cognitive and motor functions. The incidence of neurological disorders is increasing globally due to aging populations experiencing higher rates of age-related conditions like Alzheimer's and Parkinson's diseases. Improved diagnostics and greater healthcare awareness, coupled with modern sedentary lifestyles and environmental factors, also contribute to the rise in conditions such as stroke and multiple sclerosis. The use of EEG-EMG equipment in neurological disorders enables accurate diagnosis, monitoring of brain and muscle activity, and assessment of treatment effectiveness. For instance, in April 2024, according to a report by the Alzheimer's Association, a US-based nonprofit voluntary health organization, in 2022, 6.5 million Americans aged 65 and older were diagnosed with Alzheimer's dementia, increasing to 6.9 million in 2024. Therefore, the rising incidence of neurological disorders will drive the growth of the EEG and EMG equipment markets.
Major companies operating in the EEG-EMG-Equipment market are focusing on remote patient monitoring solutions, such as wireless remote monitoring systems., to enhance patient care by enabling real-time data collection and analysis from any location. A wireless remote monitoring system allows healthcare providers to track and manage patients' health data in real-time from a distance, using wireless technology for continuous and efficient patient monitoring. For instance, in April 2023, Cadwell Industries, Inc., a US-based provider of innovative neurodiagnostic and neuromonitoring solutions for the medical field., launched Arc Voyager in the US, a wireless remote monitoring system for in-home EEG. Along with Arc 3.1 software and Arc Apollo+, it enables real-time remote access to EEG data and video, featuring automatic data backfill, an HD camera, a microphone, and a rugged tablet PC for comprehensive and seamless monitoring.
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Major Key Players of the Market:
General Electric Company, Medtronic plc, Koninklijke Philips N.V., Masimo Corporation, Nihon Kohden Corporation, Natus Medical Incorporated, Zynex Inc., Neurosoft, Cadwell Industries Inc., Compumedics Limited, Brain Products GmbH, Allengers Medical Systems Limited, Rhythmlink International LLC, ANT Neuro, Electrical Geodesics Inc., Micromed, BrainScope Company Inc., g.tec medical engineering GmbH, Advanced Brain Monitoring Inc., Deymed Diagnostic s.r.o., Dr. Langer Medical GmbH, Mind Media B.V., NORAXON USA Inc., Rogue Resolutions Ltd, Wearable Sensing
Electroencephalography (EEG) And Electromyography (EMG) Equipment Market 2024 Key Insights:
• The EEG and EMG equipment market size is expected to see strong growth in the next few years. It will grow to $1.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%.
• Impact Of Rising Neurological Disorders On The EEG-EMG Equipment Market
• Wireless Technology Transforming EEG-EMG Market with Real-Time Data Solutions
• North America was the largest region in the electroencephalography (EEG) and electromyography (EMG) equipment equipment market in 2023
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