Neurodiagnostic and Monitoring Devices- Global Analysis And Market Forecasts

Neurodiagnostic and neuromonitoring devices are deployed for diagnosing diseases and disorders of brain, spinal cord, nerves and other organs comprising of nervous tissue. This research encompasses market analysis for several product segments such as electroencephalographs, magnetoencephalographs, intracranial pressure monitors, transcranial cerebral oximeters and transcranial dopplers. Electroencephalography is used for recording electrical activity of the brain over short periods of time. The device is used for calculating evoked potentials and is capable of mapping diseases such epilepsy, brain disorders such as dementia, encephalopathy, sleep disorders, tumors and stroke.

According to the latest market research report “Global Neurodiagnostic and Monitoring Devices Market Assessment & Forecast 2015-2019” by SA-BRC, the global market for neurodiagnostic and neuromonitoring devices was valued at US$ 1,045.3 million in 2014 and expected to grow to US$ 1,538.8 million by 2019 at a CAGR of 8.0% from 2015 to 2019.

Increasing incidence of Epilepsy and sleep diagnostic research will continue to drive the growth of the market in the coming years. According to WHO over 50 million people are suffering from epilepsy and over 100 million people are potentially suffering from dystonia, catatonia and movement disorders across the globe. Devices such as EEG, MEG and transcranial dopplers effectively diagnose strokes, emboli, stenosis, vasospasms and brain hemorrhages. The ageing factor has a direct impact on our neurological system. According to research results published by organizations such as WHO suggest that the body experiences deterioration in terms of functioning post the age of 65 years. It has been estimated by the WHO that by 2050, the global elderly population will reach around 2 billion, which was around 524 million in 2010. It is expected that the global geriatric population will grow at the fastest rate in developed countries such as the U.S. and Japan.

The report also provides the market by different end-users and forecasts the opportunities in coming years. The various end-users included are hospital outpatient departments, neurophysiological laboratories; OT’s and critical care rooms and private practice. Neurophysiological laboratories are the largest adoptors and users of EEG and MEG devices. Research is carried out on brain disorders, sleep disorders, epileptic conditions and mapping of brain stimulus and response.

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The global geographical analysis of the neurophysiological monitoring devices market is separated into six regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. Electrophysiology devices such as electroencephalography have great demand from countries in North America and Europe. The demand is attributed to the greater awareness and skill required to interpret these devices, greater connectivity in terms of wireless healthcare networking solutions. CDC sources suggest that over 2 million people in United States currently suffer from epilepsy and are attributed to over US$ 15.5 billion direct and indirect costs to the country. Continued investment in healthcare by government and increasing number of hospitals along with neuro-specialty clinics has continued driving the growth of these devices. Another factor contributing to the growth is the high level of awareness in sleep diagnostics.

Advanced Brain Monitoring, CTF-MEG Technologies, Cadwell Laboratories, CAS Medical Systems (CASMED), Codman – Johnson & Johnson, Compumedics, Covidien (Medtronic Inc), Elekta, Emotiv, HeadSense, Integra LifeSciences, Nonin Medical, Raumedic, Spiegelberg, Tristantech, Vittamed, Yokogawa Electric, Natus Medical, Neurosky and Nihon Kohden are some of the major players in this healthcare segment.

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This release was published on openPR.