According to the latest report by Quince Market Insights, the Brain Monitoring Devices Market is projected to register high demand during the forecast period with increasing demand from major applications such as hospitals and diagnostic center during the forecast period. Due to changing lifestyle, there has been a significant rise in the incidences of neurological disorders. This has resulted in a wide array of brain monitoring devices being used.
A brain monitoring device analyzes and monitors any abnormalities in the brain by studying the functioning of the brain.
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Segmentation for better understanding of this market
The brain monitoring devices market has been segmented into type, procedure type, and application.
Based on type, the market has been is divided into EEG, MEG, oximeters, doppler devices, pressure monitors, CT, and others. EEG is the leading type due to the increasing demand for advanced imaging techniques and diagnosis of critical disorders such as epilepsy has influenced companies to focus on the development of brain monitoring EEG devices.
Based on procedure type, the market has been segmented into invasive and non-invasive. Non-invasive procedures are preferred as compared to invasive procedures, as people are accepting procedures that do not invade the body.
Based on application, the market has been segmented into hospitals and diagnostic centers. Favorable reimbursement policies that are available for hospitals is one of the main factors for the growth of the hospital’s segment.
According to the NIMH (National Institute of Mental Health), one in four people in North America is diagnosed with mental health disorders. Hence, this region is leading the market.
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Significant Factors Impacting Market Growth:
o The rise in the prevalence of neurological disorders
o Advancements in technology will boost the market growth
o The high cost of devices and procedures will restrain the market growth
Regional distribution and potential areas for growth:
North America, Western Europe, and Asia Pacific by region are estimated to dominate the brain monitoring devices market during the forecast period. These regions have been market leaders for the overall healthcare sector in terms of technological developments and advanced medical treatments. Moreover, the government policies have been favorable for the growth of the healthcare infrastructure in these regions. North America and Western Europe have an established healthcare infrastructure for product innovations and early adaptations. This is expected to drive the demand for brain monitoring devices market during the forecast period.
The US, Germany, France, UK, Canada, and Spain have been some of the major markets in the region. Asia Pacific is estimated to register one of highest CAGR for brain monitoring devices market during the forecast period. This region has witnessed strategic investments by global companies to cater the growing demand in the recent years. China, Japan, India, South Korea, and Australia are amongst some of the key countries for brain monitoring devices market in the region. Other regions including Middle East, Eastern Europe, and Rest of the World (South America and Africa) are estimated to be emerging markets for brain monitoring devices during the forecast period.
Companies Covered:�Medtronic PLC, Integra LifeSciences Corporation, Nihon Kohden Corporation, Masimo Corporation, and Natus Medical Incorporated
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