Transparency Market Research (TMR) report elucidates the competitive and fragmented global EEG and EMG equiment market. Some of the key players in the global EEG and EMG equipment Masimo Corporation, Nihon kohden Corporation, Electrical Geodesics Inc.,Natus Medical Incorporated, and Cadwell Industries. These key companies dominate the global market. They are keen on penetrating into developing economies. To improve their market presence, they may enter into merger and acquisition and capture the competitive edge.
Electroencephalography (EEG) and Electromyography (EMG) are devices that are used in neurophysiology field. This helps physicians examine the functions of central and peripheral nervous system like muscular system. These devices are used to know the advancement of diseases such as sleep disorder, epilepsy, cognitive and neurological care. The global EEG and EMG equipment market is projected to grow at a CAGR of 7.4% during the forecast period. The market revenue was valued at US$ 1.3 bn in 2015 and it is estimated to increase to US$2.3 bn by the end of the forecast period 2018 to 2026.
Geographically, North America has been dominating the global EEG and EMG equipment market. It is expected to continue its rule over the global market. The rising geriatric population and increasing numbers of neurological disorder are supposed to expand the global EEG and EMG equipment market. EEG segment is foretold to witness a phenomenal growth during the forecast period. These are used by neurodiagnostic centers, and hospitals due to their capability of producing accurate and effective results.
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Geriatric Population to Fuel Growth
Rising geriatric population will increase the demand for EEG and EMG devices. Geriatric population encounters several brain related disorder such as neuron disorder. Such devices help in probing the functions of central and peripheral system. Therefore, the increasing geriatric population has been projected to drive the global EEG and EMG equipment market. Moreover, these devices help in treating Parkinson diseases which is also expected to expand the global EEG and EMG equipment market.
Additionally, increasing pediatric neurological disorder is also expected to boost the growth. Increasing incidences of brain tumor, epilepsy, and spinal degenerative disorders are projected to expand the global EEG and EMG devices market. Increasing awareness about such disorders and funding for research and development are also supporting the market growth. Thus, the global EEG and EMG equipment market is expected to grow at a fast pace during the forecast period.
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Technology to Boost Demand
Innovation of technologically advanced devices with innovative benefits such as high precision, ease in handling, and monitoring abilities with lesser user intervention augments the global EEG and EMG devices market. Rising demand for hybrid BCI imaging techniques is also foretold to drive the market. This technique where two or more modalities are combined together in brain imaging and prosthesis control. This technique offers an array of benefits as compared to single modality. Thus, the global EEG and EMG Equipment market is projected to swell up at a good rate during the forecast period.
Stringent regulations, high cost and lack of trained professionals hinders the growth of the global EEG and EMG equipment market. Regardless of such constraints, there has been increase in demand for EEG and EMG devices. Thus, the global EEG and EMG market is likely to witness a stellar growth during the forecast period.
The above review is based on a TMR report, titled,” EEG-EMG Equipment Market (Product – Electroencephalography and Electromyography; End User – Hospitals, Ambulatory Surgical Centers, Research Institutes, Homecare Settings and Diagnostic Centers; Modality – Standalone and Portable) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026
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The global EEG and EMG equipment market is divided into
- Ambulatory Surgical Centres
- Research Institutes
- Diagnostic Centres
- Homecare Settings
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