Magnetoencephalography Market Analysis

Magnetoencephalography Market Analysis

Magnetoencephalography market from the clinical segment will be valued at over USD 356 million by 2032, given the growing incidence of neurodegenerative diseases. With the elderly population growing at a rapid pace, the burden of Parkinson’s disease and other chronic neurodegenerative disorders will rise. In western countries, for example, the cases of dementia continue to surge. These factors will escalate the adoption of MEG equipment in clinical settings to ensure the accurate diagnosis of brain disorders.
 

The hospitals segment accounted for a 40% share of the magnetoencephalography market in 2022. This is on account of the escalating adoption of advanced medical devices to offer enhanced therapeutics and diagnostic procedures in hospital settings. The rate of hospital admissions due to neurological conditions also continues to rise. In addition, the strong presence of skilled healthcare professionals and the availability of advanced automated medical units will further expedite the production of MEG units to treat neurological disease patients in hospitals.
 

North American magnetoencephalography market size is anticipated to exceed USD 200 million by 2032. The increasing prevalence of autism spectrum disorder among adolescents and children is among the major growth drivers. Moreover, the burden of other neurological disorders including schizophrenia and epilepsy has also surged, bolstering the requirement for effective brain imaging techniques. Additionally, the rising healthcare spending, the presence of skilled medical professionals, and the adoption of novel diagnostic technologies will add impetus to the regional market share.