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Magnetoencephalography Market size to cross $534 Mn by 2032

  • Published Date: April 14, 2023

Magnetoencephalography Market size is expected to surpass USD 534 million by 2032, according to a new research report by Global Market Insights Inc.

The growing incidence of neurological diseases is among the prominent factors bolstering the demand for advanced magnetoencephalography (MEG) devices, the report reveals. According to the WHO, dementia stems from a variety of diseases including Alzheimer’s. Other brain disorders including schizophrenia, autism, and Parkinson’s disease have also become more prevalent among the adult population. In addition, the aging population susceptible to chronic diseases continues to rise. These aforesaid factors will boost the need for magnetoencephalography (MEG) records for the diagnosis of neurological disorders.

Ease of use & other key benefits to spur sales of OPM magnetoencephalography devices

The magnetoencephalography market from the OPM systems segment will be valued at over USD 110 million by 2032. This is considering the emergence of these systems as a novel technology that can overcome the drawbacks of conventional MEG systems. To ensure precise background magnetic field control, advanced approaches have been adopted, including the use of non-cryogenic quantum-enabled sensors.

The major attributes such as high sensitivity, ease of use, low cost, and enhanced data outputs will also contribute to product consumption over the forecast period.

MEG devices to gain traction in imaging centers for neurological disorder diagnosis

Magnetoencephalography market size from the imaging centers end-use segment is projected to register revenue worth USD 141 million by 2032, on account of the high preference for value-based medical practices. The rising in-patient capacity and the deployment of advanced technologies have also influenced patients to undergo MEG techniques in imaging centers. Furthermore, the surging number of patients with epilepsy, autism, and other neurological disorders and the ever-increasing geriatric population will spur the demand for magnetoencephalography brain imaging systems globally, claims the report.

Browse key industry insights spread across 150 pages with 138 market data tables & 16 figures & charts from the report, Magnetoencephalography Market Size By Product (Cryogenic/Conventional Systems, OPM Systems), By Application (Clinical, {Epilepsy, Autism, Dementia, Stroke, Traumatic brain injury (TBI)}, Research), By End-use (Hospitals, Imaging Centers, Academic and Research Institutes), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032” in detail along with the table of contents:

Strong presence of established healthcare facilities to boost MEG device usage in Europe

Europe magnetoencephalography industry share is poised to depict over 11% CAGR through 2023-2032. This growth is driven by the presence of well-established imaging centers, hospitals, and other healthcare facilities and the requirement for immediate and quality care for patients in remote areas. The general population has also gained increasing awareness regarding neurological ailments, encouraging manufacturers to upgrade emergency care devices.

Additionally, the favorable regulatory landscape and the availability and accurate and efficient products will fuel the regional market expansion over the forthcoming years.

Business expansions to emerge as key strategies for market players

Cerca Magnetics Limited, CTF MEG INTERNATIONAL SERVICES LP, Ricoh USA, Inc., MEGIN (Croton Healthcare), FieldLine Inc., and Compumedics Limited are some of the major players profiled in the magnetoencephalography market report.  

Authors: Rupali Swain, Subodh Kharad