Electroencephalography Systems Devices Market Size, Share, Industry Trends and Forecast to 2030

Electroencephalography Systems Devices Market Size & CAGR in 2021

The global market for electroencephalography (EEG) systems devices is anticipated to witness significant growth in 2021 with a Compound Annual Growth Rate (CAGR) of approximately 5.8%. The market size is expected to reach USD 1.5 billion by the end of the year. This growth can be attributed to the increasing prevalence of neurological disorders and the rising adoption of advanced EEG systems for diagnostics and monitoring purposes.

COVID-19 Impact on the Electroencephalography Systems Devices Market

The outbreak of the COVID-19 pandemic has had a mixed impact on the electroencephalography systems devices market. On one hand, there was a temporary disruption in the supply chain and manufacturing activities due to lockdowns and restrictions imposed by various governments. However, on the other hand, the pandemic led to a greater focus on remote monitoring and telehealth services, which increased the demand for EEG systems for home use and virtual consultations.

Electroencephalography Systems Devices Dynamics

The dynamics of the electroencephalography systems devices market are driven by factors such as technological advancements in EEG systems, the increasing prevalence of neurological disorders, the growing geriatric population, and the rising awareness about early diagnosis and treatment of brain-related conditions. Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms in EEG systems is further propelling market growth.

Segments and Related Analysis

The electroencephalography systems devices market can be segmented based on product type, application, end-user, and region. The product type segment includes standalone EEG systems, portable EEG systems, and wireless EEG systems. The application segment comprises clinical diagnostics, research, and monitoring. End-users of EEG systems include hospitals, clinics, research institutes, and ambulatory care centers. Regionally, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

By Region Analysis

In North America, the electroencephalography systems devices market is dominated by the United States, attributed to the presence of major market players, technological advancements, and a well-established healthcare infrastructure. Europe holds a significant share in the market due to the increasing prevalence of neurological disorders and the growing adoption of EEG systems for research purposes. The Asia Pacific region is witnessing rapid growth in the market, driven by improving healthcare infrastructure and rising disposable incomes.

Key Market Players and Competitive Landscape

Some of the key players in the electroencephalography systems devices market include Natus Medical, Inc., Medtronic plc, Philips Healthcare, Compumedics Limited, Cadwell Industries, Inc., NeuroWave Systems Inc., and Nihon Kohden Corporation. These companies are actively engaged in product development, collaborations, mergers, and acquisitions to strengthen their market position and expand their product portfolio.

Recent Happenings in the Electroencephalography Systems Devices Market

In recent developments, Natus Medical, Inc. launched a new wireless EEG system that allows for remote monitoring of patients with neurological disorders. Medtronic plc introduced a next-generation EEG monitoring device with advanced AI capabilities for improved diagnostics. Philips Healthcare collaborated with leading research institutes to develop innovative EEG systems for real-time brain imaging. These advancements are expected to drive the growth of the electroencephalography systems devices market in the coming years.