MCP-3327: EEG, EMG AND EVOKED POTENTIAL DEVICES – A GLOBAL STRATEGIC BUSINESS REPORT
January 10, 2016 – Increasing Volume of Neurological Diagnostic Procedures Drives the EEG, EMG and Evoked Potential Devices Market, According to a New Report by Global Industry Analysts, Inc.
GIA launches comprehensive analysis of industry segments, trends, growth drivers, market size, share, and demand forecasts on the global EEG, EMG and Evoked Potential Devices market. The global market for EEG, EMG and Evoked Potential Devices is projected to reach US$1.4 billion by 2022, driven by the rapidly aging population susceptible to degenerative neurological disorders, growing adoption of portable devices, establishment of new monitoring centers and technological advancements.
Monitoring the electrical activity of the human brain and skeletal muscles is an important way of diagnosing and assessing various neurological and neuromuscular diseases. This is achieved by electrophysiological techniques such as Electroencephalography (EEG) and electromyography (EMG) that measure the electrical activity of the brain and muscles, respectively. Electroencephalography (EEG) records electrical/neuronal activity of the human brain through electrodes placed on the scalp, helping in diagnosis of conditions that arise from irregular brain functioning such as stroke, encephalopathies, coma, brain death, sleep disorders, epilepsy, tumors and several others. EMG, on the other hand, measures muscles’ electrical activity during contraction and rest, using electrodes that detect and transmit electrical signals from the muscles. Evoked potential refers to the recording of electrical potential of the nervous system as a response to stimulus. Demographic changes such as aging population susceptible to Parkinson's and Alzheimer's diseases, muscle rheumatism, and muscular dystrophies will continue to be a major force driving demand for EEG and EMG devices.
Growing acceptance of these diagnostic devices by the medical community as vital for assessing and treating neurological diseases will also spur growth. Other factors such as rising awareness over neurological diseases and importance of early diagnosis and expanding applications such as fatigue and stress monitoring, emergence of portable devices and technical developments are fueling adoption. Electroencephalograph Equipment represents the largest segment in the market benefiting significantly from positive macro market trends such as rising per capita healthcare spending, easy access to specialized neuro care as a result of improving healthcare infrastructure, and growing support from governments and other related agencies. Portable and ambulatory EEG devices are receiving considerable attention against the backdrop of the proliferation of point-of-care healthcare practices that promise superior patient comfort, outcomes, reduced costs and effective disease management in resource limited environments. On the technology front, while development of higher electrode density or multi-channel electrodes of more than 100 channels has enhanced spatial localization and improved spatio-temporal accuracy, there is room for significant further improvements. Superior accuracy levels over competing technologies such as MRI and other magnetic imaging forms, is fueling demand for Electromyography/Evoked Potential devices.
As stated by the new market research report on EEG, EMG and Evoked Potential Devices, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market worldwide, with a CAGR of 9.6% through the analysis period. The growth in the region is led by factors such as policy led government support for healthcare infrastructure development, establishment of specialized neuro care centers, rising standards of living, growing disposable income and higher per capita healthcare spending, and growing population and a parallel increase in healthcare burden.
Major players covered in the report include Cadwell Laboratories, Inc., Compumedics Limited, EB Neuro S.P.A., Electrical Geodesics, Inc., Lifelines Neurodiagnostic Systems, Inc., Natus Medical Incorporated, NeuroWave Systems, Inc., Nihon Kohden Corporation and Noraxon U.S.A., Inc, among others.
The research report titled “EEG, EMG and Evoked Potential Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for EEG, EMG and Evoked Potential Devices sales in US$ and Units for all major geographic markets such as United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America) and Rest of World. Product segments analyzed include Electroencephalograph Equipment and Electromyography/Evoked Potential Units.
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