Global Electroencephalography Devices Market - 2023-2030

Overview

Global Electroencephalography Devices Market reached US$ 1.3 billion in 2022 and is expected to reach US$ 2.6 billion by 2030, growing with a CAGR of 9.4% during the forecast period 2023-2030.

An electroencephalogram (EEG) is an examination that estimates electrical activity in the brain utilizing small, metal discs (electrodes) affixed to the scalp. Brain cells communicate through electrical stimulations and are active all the time, an invariant of sleep. This movement exhibits wavy lines on an EEG recording. The principal benefit of an EEG is to detect and examine epilepsy, a disorder that induces repeated episodes.

An EEG is expected to aid the physician pinpoint the class of epilepsy that the patient may hold, what may be initiating the episodes, and how satisfactorily treat the condition. Less frequently, an EEG might be employed to examine different conditions, like dementia, head injury and trauma, brain tumors, encephalitis (brain inflammation), and sleep ailments, including sleep apnoea.

The growing cases of neurological disorders, and increasing market developments such as acquisitions, mergers, collaborations, product launches, product approvals, takeovers, and expansion among others are among the other primary factors that are expected to boost the global Electroencephalography Devices market growth in the forecast period. Further, the growing research activities and technological advancements in Electroencephalography Devices are also expected to contribute to the global market growth in the forecast period.

Dynamics

Increasing Prevalence of Neurological Disorders

The increasing prevalence of neurological disorders such as Alzheimer's, epilepsy, dementia, multiple sclerosis, Parkinson's disease, and stroke among others are expected to drive the global market growth. For instance, according to WHO 2023, around 50 million individuals globally suffer from epilepsy, making it among the most typical neurological disorders worldwide. Approximately 80% of individuals with epilepsy live in low- and middle-income nations.

It is assessed that about 70% of individuals living with epilepsy could live seizure-free if appropriately diagnosed and treated. Further, according to Cure Epilepsy, the United States expends roughly $15.5 billion on epilepsy annually. Moreover, according to the WHO 2023, presently, more than 55 million individuals with dementia globally out of which more than 60% of whom live in low-and middle-income nations.

Each year, over 10 million new cases of dementia are detected. Dementia results from a combination of disorders and injuries that affect the brain. Alzheimer's disease is the most typical state of dementia and may account for 60-70% of cases. Similarly, according to the Alzheimer's Association, estimations the global number of individuals with AD dementia, prodromal AD, and preclinical AD were 32, 69, and 315 million, respectively. Jointly they accounted for 416 million across the AD continuum or 22% of all individuals aged 50 and above.

Increasing Number of Product Approvals and Launches

The increasing number of product approvals from distinct regulatory bodies for commercialization and product introduction into the market are expected to boost the global market growth in the forecast period. For instance, in August 2022, Myneurva, a global leader in computational QEEG analysis introduced Starrbase, a completely integrated system advanced neural network analysis EEG device.

Moreover, in November 2021, Brain Scientific's Next-Gen NeuroCap EEG Headset, an avant-garde Electroencephalogram (EEG) electrode array employed to acquire quick EEGs in routine clinical and research environments where the recording of STAT EEGs acquired the United States Food and Drug Administration approval. Again, in September 2022, the United States Food and Drug Administration (FDA) awarded Breakthrough Device Designation for Ceribell, Inc.'s delirium indication, the system employs machine learning to examine electroencephalography (EEG) signals to diagnose delirium.

Further, in October 2022, Nihon Kohden launched the Smart Cable NMT Pod and disposable electrode, an instrument with the Smart Cable Procedure. The development allows clinicians to precisely scan the patient's profundity of paralysis at the moment of surgery when a neuromuscular blockade agent (NMBA), both depolarizing or non-depolarizing, is given to the patient.

High Electroencephalography Device Cost

The cost of the device varies based on its features sensitivity, precision, and modality. For instance, the lower price range ($99 - $1,000), begins with the lowest quantity of electrodes. Few corporations such as NeuroSky and Muse promise neurofeedback and offer lower-cost solutions to assist in improving meditation and sleep, despite the research potential. While, the middle price range ($1,000 - $25,000), offers more available electrodes for each device, and additional bonuses to the hardware units. All of the devices within this price range are research-grade, however, the precise nature of the study will specify which unit is best suitable for the purpose.

Many companies (ABM, ANT Neuro, Cognionics, G.tec, mBrainTrain, Neuroelectrics, and Wearable Sensing) present wireless devices at this price scope, facilitating data collection to happen with improved mobility and increased comfort. Furthermore, the upper price range ($25,000+), offers a large number of electrode channels starting at 32 with Brain Product's ActiCHamp and resuming up to 160, or even 256 channels with BioSemi. This abundance of electrodes permits an exceptionally increased resolution when detecting brain signals. However, the high cost of these devices makes it difficult for low-income practices to afford them, decreasing high-end devices market demand and slowing the market growth.

Neurologists Workforce Shortage

The extensive neurologist workforce gaps are expected to hamper the global electroencephalography devices market growth during the forecast. For instance, the data published by the Association of British Neurologists (ABN) indicates that the UK's workforce of adviser neurologists is extremely down than might be anticipated. In comparison to France and Germany, the UK workforce is largely inferior, even in London and the neighboring places where ratios of patient to adviser are sounder. The ABN performed a workforce survey lately, surveying nearly half of all consultant neurologists accounting for 46% of the total, and over a third of neurology trainees which is 35% of the total.

Also, the ABN discovered that the number of full-time equivalent (FTE) neurology advisors concerned with patient assistance sits at a ratio of 1.1 per 100,000, or 1 per 91,175 inhabitants. This is invariant of the fact that the UK has a moderately adequate density of medical physicians over the board, estimated by the World Health Organisation (WHO) as 28 per 10,000 of the inhabitants. Moreover, in 2019, there were merely 400 open neurology provider appointments. That number has risen greatly to the point that by 2025 there is estimated to be a 19% gap in the neurologist workforce.

Segment Analysis

The global electroencephalography devices market is segmented based on product type, number of channels, signal frequency, procedure, application, end-user and region.

Portable EEG Devices Expected to Dominate Market

The Portable EEG devices are expected to hold a prominent share of the global market in the forecast period owing to the increasing number of product approvals and investments in the segment. For instance, in August 2023, Ceribell, Inc.'s new software ClarityPro secured 510(k) approval from the U.S. Food and Drug Administration (FDA) for the presentation of diagnosing Electrographic Status Epilepticus (ESE).

The approval tracks the preliminary receipt of Breakthrough Device Designation from the FDA. Following obtaining Breakthrough Device Designation and 510(k) approval from the FDA, the U.S. Centers for Medicare and Medicaid Services (CMS) awarded a New Procedure Add-on Payment (NTAP) for ClarityPro of around $913.90 per eligible Medicare patient case. Ahainr, in May 2023, the FDA awarded 510(k) approval to Cumulus Neuroscience's novel, dry-sensor EEG headset, a user-friendly device that allows self-directed usage and produces clinical-grade data for remote physician assessment.

The Cumulus EEG device, developed for both adult and adolescent individuals is obtainable in 4 measures and is effortlessly self-applied in not more than 5 minutes with direction from the Cumulus mobile app, therefore eliminating the requirement for EEG technician or healthcare professional aid. The platform unites clinical-grade, at-home data with machine learning analytics and a large real-world database of annotated, longitudinal, matched data.

Geographical Penetration

Increasing Number of Neurological Disorders Cases in North America

The growing number of neurological cases in this region along with funding from government associations for research activities in neurology are expected to boost the North American market growth dominating the global market throughout the forecast period. For instance, according to the statistics from the Alzheimer's Association, almost 6.5 million Americans aged 65 years and older were expected to be suffering from Alzheimer's in 2022 and 73% were of age 75 or older which are at more elevated risk or developing the disorder.

Moreover, according to the information from the ALS Association, by 2050, around 12.7 million individuals aged 65 and older are estimated to suffer from Alzheimer's. Further, the estimates from the National Vital Statistics Report gathered by the Centers for Disease Control and Prevention (CDC) demonstrate that stroke was the fifth among the foremost reasons of death in the U.S.

The statistics from the same source indicate that the moderate years of potential life lost under 75 years of age owing to cerebrovascular disorders was 187.1 in the U.S. In addition, the National Institute of Neurological Disorders and Stroke (NINDS) in the U.S. funds investigations into neurological disorders their diagnosis, and treatment along with raising public understanding of neurological conditions.

Furthermore, new product introductions into the North American Electroencephalography Devices market also contribute to the regional market growth. For instance, in August 2021, Natus Medical, a top provider of medical device developments in the U.S., successfully conducted a clinical trial by utilizing Natus' recently introduced XactTrode family of platinum subdural electrodes which are expected to be employed for Epilepsy Surgical Monitoring.

COVID-19 Impact Analysis

During the COVID-19 pandemic, elective and routine examinations and operations were postponed or discontinued because of redirecting aids to additional emergent therapy for extremely sick individuals and to avert the spread and contraction of COVID-19. Additionally, the workforce was pulled narrow, and healthcare structures witnessed growing turnover rates for full-time and agreement workers, which pushed the system and decreased the capacity to deliver clinical assistance.

One of the losses of these shifts was electroencephalography (EEG) practices, which have been conducted less repeatedly all over the globe since the pandemic. Whether assumed standard or emergent, the deferral of EEG studies caused downstream consequences, such as the delay in diagnosis and beginning treatment for epilepsy and non-epileptic episodes inducing a more raised threat of morbidity and mortality.

Regardless of these restrictions, the significance and benefits of EEG and EEG approaches have been re-enacted with the evolution of COVID-associated neurological intricacies, such as encephalopathy and seizures, which need EEG for detection and treatment. Further, since the pandemic, dependence on remote telemonitoring emphasized the importance and comfort of utilizing EEG. There has also been an elevated interest in quick EEG devices that non-technologist experts can connect fast, permitting the lowest patient contact to evade vulnerability to COVID-19 and enduring the benefit of remote EEG monitoring.

Russia-Ukraine Impact

The war in Ukraine has caused staggering casualties, an exceptional refugee situation, and devastation of infrastructure including infirmaries and basic needs reserves depletion. The war has even damaged the delivery of medical care. Considerable provincial medical bases have individually documented thousands of trauma case entries from February 2022. The scarcity of dependable air transportation leaves the logistics for health care significantly difficult.

Extreme disturbances to multinational markets generated by Russia's war on Ukraine have revealed susceptibilities to the safety of the supply of raw materials necessary for industrial production and for the green transition. These supply chain exposures are the consequences of export restrictions, bilateral dependences, a deficiency of clarity, and constant market asymmetries, including the engagement of production in only a few nations. For nations influenced by supply chain susceptibilities, there are possibilities to diversify sourcing via extended production and accessing comprehended critical raw materials resources.

By Product Type

• Portable
• Tabletop
• Wireless

By Number of Channels

• 8-channel EEG
• 21-channel EEG
• 25-channel EEG
• 32-channel EEG
• 40-channel EEG
• Multi-channel EEG

By Signal Frequency

• 3 Hz or below
• 3.5 to 7.5 Hz
• 7.5 and 13 Hz
• 14 and greater Hz

By Procedure

• Routine EEG
• Sleep-Deprived EEG
• Ambulatory EEG
• Others

By Application

• Disease Diagnosis
• Sleep Monitoring
• Anesthesia Monitoring
• Trauma and Surgery
• Others

By End-User

• Hospitals
• Specialty Clinics
• Ambulatory Surgical Centers
• Diagnostic Centers
• Academic and Research Organizations
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In February 2022, Masimo obtained the United States Food and Drug Administration authorization of pediatric indication for SedLine brain operation monitoring and the SedLine pediatric EEG sensor.
• In March 2022, Interaxon Inc. introduced a VR Software Development Kit (SDK) with a new EEG headband compatible with all major VR head-mounted displays (HMDs), producing Interaxon's second-generation EEG meditation and sleep headband.
• In 2022, Natus Medical Inc. introduced its latest BrainVision EEG software, a fresh platform developed to improve the precision and efficiency of EEG testing. The software encloses a grade of unique features, including automated artifact detection, combined source localization, and a unique user interface developed to assemble EEG testing additional instinctive and user-friendly.

Competitive Landscape

The major global players in the market include: EMS Handels Gesellschaft m.b.H., KONINKLIJKE PHILIPS N.V., Medtronic, Allengers, EB NEURO S.P.A., Shenzhen Delica Medical Equipment Co., Ltd., Micromed Group, NIHON KOHDEN CORPORATION, Cadwell , Natus Medical Incorporated and Icare USA among others.

Why Purchase the Report?

• To visualize the global electroencephalography devices market segmentation based on product type, number of channels signal frequency, procedure, application, end-user, and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of electroencephalography devices market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key product of all the major players.

The global electroencephalography devices market report would provide approximately 61 tables, 58 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies