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Global EEG Devices Market to Reach USD 2.20 Billion in 2027

By HospiMedica International staff writers
Posted on 07 Jan 2020
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The global EEG (Electroencephalography) devices market was valued at USD 1.12 billion in 2018 and is projected to grow at a CAGR of 7.8 % over the forecast period 2019-2027 to reach USD 2.20 billion in 2027, driven mainly by the increasing prevalence of sleep disorders.

These are the latest findings of Coherent Market Insights (Seattle, WA, USA), a global market intelligence and consulting organization.

Additionally, several benefits offered by EEG such as measurement during mute epochs, semantic integration, selective attention, and semantic integration, are expected to further propel the market growth during the forecast period. Moreover, increasing awareness programs related to aging and neurodegenerative diseases is also expected to boost the growth of the global EEG devices market. However, some EEG drawbacks, such as the presence of deep or small lesions which can lead to abnormalities in EEG outcomes, false localization of epileptogenic zone, influence by hypoglycemia and alertness and limited time sampling are expected to hamper market growth.

Based on end-user, the Diagnostic Centers segment dominated the global EEG devices market in 2018 with a share of 60.9% in terms of value, followed by the Hospitals segment. The increasing patient population and growing demand for minimally invasive procedures are expected to be the key growth drivers of the Diagnostic Centers segment within the EEG devices market.

Based on modality, the Standalone (Fixed Devices) segment dominated the global EEG devices market in 2018 with a share of 47.1% in terms of value, followed by the Portable Devices segment. The increasing number of product approvals is expected to act as a major growth driver for the Standalone (Fixed Devices) segment within the EEG devices market during the forecast period.

Increasing R&D in neuroscience is expected to offer lucrative growth opportunities for the players in the global EEG devices market. The key market players are focusing on continuously launching new EEG monitoring devices and winning contracts to enhance their market share. They are also focusing on raising funds for product development and expanding their product portfolio.

Related Links:
Coherent Market Insights

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