Electroencephalography Systems Market size will gain noticeable traction between 2023 and 2032, driven by the increasing advancements in brain monitoring devices. Rising cases of neurological disorders in advanced and emerging economies have encouraged leading companies to boost the manufacturing of electroencephalography systems devices.
The anticipated trends in high blood sugar, high body mass index, and smoking suggest that the number of people with dementia could rise exponentially in the foreseeable future. Researchers at the University of Washington School of Medicine project over 152 million people to suffer from dementia by 2050.
Global inflation has been taking a toll on every industry, with healthcare being no exception. Several researches confirm that numerous developing economies, such as India, have been bearing the impact of medical inflation lately. One of these is the substantial rise in medical treatment costs and health insurance premiums. The price hike applies to all sorts of policies and policyholders, irrespective of their risk profile, restricting people from undergoing treatment for common health issues.
In addition, the ongoing conflict between Russia and Ukraine has further worsened the healthcare scenario in both countries, where access to healthcare is severely distorted due to restricted mobility, security concerns, mass population displacement, and broken supply chains. With the current situation only seeming to continue and even getting worse in the coming years, the electroencephalography systems market may face significant consequences during the forecast period.
An electroencephalography system help detects abnormalities in the electrical activity of the brain or brain waves. The EEG has become instrumental in assessing several conditions and could be used to diagnose disorders, including Alzheimer's disease, sleep disorders, and certain psychoses. Approximately 5.8 million people in the U.S. aged 65 and older live with Alzheimer's disease. Soaring demand for minimally invasive and non-invasive devices will augur well for the industry statistics.
In terms of modalities, the portable electroencephalography systems market share will grow substantially over 2023-2032 with an increasing focus on incorporating new technological improvements, including raw data acquisition and lightweight. Researchers have increased investments in cognitive psychology, neuroscience, and psychological activities. With a rise in sleep disorders and cases of neurodegenerative, end-users will continue to invest in portable devices, which, in consequence, will favor segment growth.
Based on application, the ambulatory segment is predicted to account for a considerable share of the global EEG market through 2032. The development could be attributed to drivers, such as longer monitoring outside hospital settings or an office. Considering that it records brain activity over several days to boost the chance of catching seizure activity, industry participants are expected to seek ambulatory EEGs, thus, strengthening the market landscape.
North America's electroencephalography systems market is estimated to observe lucrative progression by 2032, with increasing cases of neurodegenerative disorders. The U.S. and Canada have also witnessed progress in healthcare infrastructure and robust supply chains. Strong reimbursement policies have made the region a highly sought destination for the treatment of brain nervous disorders, opening new potential avenues for the regional EEC industry.
A host of companies are profiled in the electroencephalography systems market , with leading players emphasizing organic and inorganic strategies, including mergers & acquisitions, product offerings, collaborations, and R&D activities. Cadwell Laboratories Inc., Medtronic, Neurowave Systems Inc., BrainScope Company Inc, Noraxon U.S.A., Inc., Covidien Medical Devices, Compumedics Limited, Rimed Ltd. and Neurowave Systems Inc., among others, are poised to foster the business revenue.