According to a new report published by Allied Market Research, titled, ” Electroencephalography Equipment Market by Product, Application, and End User: Global Opportunity Analysis and Industry Forecast, 2018-2026,” The global electroencephalography equipment market accounted for $1.40 billion in 2018, and is expected to reach $1.99 billion by 2026, registering a CAGR of 4.5% from 2019 to 2026.
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The key factors that drive the growth of the global electroencephalography equipment market are rise in geriatric population and surge in adoption of EEG equipment in surgery centers. The other factors that contribute toward the growth of the market include increase in prevalence of neurological disorders such as epilepsy and Alzheimer’s disease. Furthermore, technological advancements in the field of EEG equipment is another factor that contributes to the growth of the global EEG equipment market. However, presence of large number of substitute products in the market hinders the growth of the market. Whereas, growth potential in developing nation is expected to provide lucrative opportunity for the global EEG equipment market during the forecast period.
According to application, the disease diagnosis segment accounted for the highest market share in 2018, and is expected to register fastest growth rate, owing to surge in prevalence of neurological disorders such as epilepsy, Alzheimer disease, and others across the globe. Moreover, increase in adoption of EEGs in neonatal intensive care units (NICUs) is another major reason that boost the growth of this segment.
Based on end user, the hospitals segment accounted for the highest market share in 2018 and is anticipated to maintain this trend during the forecast period, as these facilities provide vast number of EEG applications. For instance, the hospitals provide brain monitoring, sleep monitoring, and anesthesia monitoring.
Key Findings of the Electroencephalography Equipment Market :
- EEG accessories systems occupied two-thirds share of the global electroencephalography equipment market in 2018
- The disease diagnosis segment is anticipated to grow with the highest CAGR throughout the forecast period
- The hospitals segment accounted for one-third share of the market in 2018
- Asia-Pacific is anticipated to grow at the highest rate during the analysis period, followed by LAMEA
Electroencephalography Equipment Market Segments:
- EEG Equipment
- Integrated EEG Systems
- Portable EEG Systems
- EEG Accessories
- Disease Diagnosis
- Sleep Monitoring
- Anesthesia Monitoring
- Trauma and Surgery
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