Electroencephalography Devices Market Forecast and Analysis: Key Insights into Growth, Trends, and Emerging Opportunities
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How Will the Growth Rate of the Electroencephalography Devices Market Shape Industry Trends by 2034?
Recent years have seen a significant expansion in the electroencephalography devices market, which is predicted to see further growth, moving from $1.2 billion in 2024 to $1.31 billion in 2025 with a compound annual growth rate (CAGR) of 9.1%. The historic period’s market growth can be credited to early discoveries, the advent of portable and wireless electroencephalography, neurofeedback and biofeedback, along with consumer-grade electroencephalography devices.
Predictions suggest that the market for electroencephalography devices will experience notable expansion in the coming years. Its growth is projected to reach $1.83 billion by 2029, boasting a compound annual growth rate (CAGR) of 8.7%. Various factors contributing to this growth in the forecast period include ongoing research and development, growing acceptance in clinical settings, increased healthcare expenses, ageing global population, and the popularity of consumer wearables. Upcoming trends include the enhancement of signal processing and the integration with artificial intelligence, a focus on personalized healthcare, incorporation with virtual and augmented reality, continued observation and big data analytics, and combining with other modalities.
What Strategic Factors Are Influencing the Accelerated Growth of the Electroencephalography Devices Market?
A rise in neurological disorders is anticipated to boost the growth of the electroencephalography device market in the future. Neurological disorders, which impact the brain, spinal cord, and nerves throughout the body, are becoming more prevalent due to factors like aging population, lifestyle modifications, genetics, better diagnosis, and increased awareness. Electroencephalography devices, useful in identifying and observing these disorders by capturing and studying the brain’s electrical activity, can help manage and treat ailments like epilepsy, sleep disorders, and brain injuries. For instance, the World Federation of Neurology, a UK-based body advocating for neurology and neurologists, stated in October 2023 that over 40% of the global population is afflicted with a neurological condition, with predictions anticipating this to almost double by 2050. Thus, the surge in neurological disorders is pushing the growth of the electroencephalography device market.
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Who Are the Key Market Players Influencing the Growth of the Electroencephalography Devices Industry?
Major companies operating in the electroencephalography devices market are:
• Ford Motor Company_x000D_
• Kia Corporation_x000D_
• Magna International Inc._x000D_
• Cummins Inc._x000D_
• Eaton Corporation plc_x000D_
What Key Market Trends Are Shaping the Future of the Electroencephalography Devices Industry?
In order to enhance the accessibility, user-friendliness, and portability for both clinical and research uses, major companies in the electroencephalography devices market concentrate their efforts on the production of ground-breaking products such as wearable electroencephalography (EEG) devices. These wearable EEG devices are non-invasive and portable systems that monitor and record the brain’s electrical activity through electrodes positioned on the scalp. An example of this is the launch of the MxN-GO EEG system by Soterix Medical Inc., a US-based company known for its non-invasive neuromodulation and brain stimulation technologies, in May 2024. The system aids research applications in need of activity recording in both natural and mobile environments along with electrical brain stimulation. The wire-free and lightweight design of the MxN-GO EEG device simplifies the setup and enhances user comfort. With its extensive precision and functionality, it offers 32 recording channels and 33 stimulation channels, making it a tailored solution for specific applications.
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What Are the Strategic Segments Comprising the Electroencephalography Devices Market and Their Growth Contributions?
The electroencephalography devices market covered in this report is segmented –
1) By Type: Portable, Standalone, Wearable
2) By Product: 8-Channel Electroencephalography, 21-Channel Electroencephalography, 25-Channel Electroencephalography, 32-Channel Electroencephalography, 40-Channel Electroencephalography, Multi-Channel Electroencephalography
3) By Distribution Channel: Direct Tender, Retail Sales
4) By Application: Trauma And Surgery, Disease Diagnosis, Anesthesia Monitoring, Sleep Monitoring, Other Applications
5) By End-Use: Hospitals, Diagnostics Centers, Other End Users
Subsegments:
1) By Portable: Handheld EEG Devices For Home Or Point-Of-Care Use, Wireless Portable EEG Systems, Lightweight, Compact EEG Devices For Mobile Applications
2) By Standalone: Traditional EEG Systems Used In Hospitals Or Clinics, Desktop Or Wall-Mounted EEG Devices, High-Performance EEG Systems With Advanced Features For Diagnostics
3) By Wearable: EEG Headbands Or Caps For Continuous Monitoring, Smart EEG Devices Integrated With Wearable Technology (E.G., Smartwatches, Headsets), Non-Invasive EEG Devices For Real-Time Brain Activity Monitoring
Which Regions Are Emerging as Leaders in the Electroencephalography Devices Market?
North America was the largest region in the electroencephalography devices market in 2024. The regions covered in the electroencephalography devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Are the Defining Features of the Electroencephalography Devices Market?
Electroencephalography (EEG) devices are medical devices that measure and record the electrical activity in the brain. These devices detect electrical signals generated by neuronal activity through electrodes placed on the scalp. EEG is frequently utilized in clinical settings to diagnose and monitor conditions such as epilepsy, sleep disorders, brain injuries, and various neurological disorders.
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