PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1627968
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1627968
Magnetoencephalography Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Magnetoencephalography Market, valued at USD 223.5 million in 2023, is projected to grow at a robust CAGR of 11.1% from 2024 to 2032. This growth is driven by advancements in neuroscience and the increasing adoption of non-invasive brain imaging solutions for clinical and research purposes.
Rising neurological disorders such as epilepsy, Alzheimer's, and Parkinson's are key factors accelerating market growth. These conditions require advanced diagnostic tools to enhance treatment outcomes. MEG, with its exceptional temporal resolution, offers real-time brain activity mapping, aiding in identifying abnormal neural functions. Its critical role in diagnosing and planning treatments for conditions like epilepsy underscores its growing importance in the medical field.
Expanding research applications further contribute to the market's upward trajectory. MEG's non-invasive capabilities are integral to neuroscience and cognitive studies, providing detailed insights into brain functions such as sensory processing and motor coordination. Increasing funding from governmental and private entities for neuroscience research bolsters the adoption of MEG systems globally.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $223.5 Million |
| Forecast Value | $591.6 Million |
| CAGR | 11.1% |
The market is segmented by product type into cryogenic/conventional systems and optically pumped magnetometer (OPM) systems. The cryogenic systems segment is anticipated to grow at a CAGR of 9.4%, reaching USD 500 million by 2032. These systems, utilizing superconducting quantum interference devices (SQUIDs), remain widely used for their reliability and effectiveness in diagnosing neurological disorders.
Applications of MEG span clinical and research domains, with the clinical segment accounting for 65% market share in 2023. Its prominence in clinical settings is attributed to its efficacy in diagnosing and managing neurological and psychiatric conditions. The segment is expected to grow as research efforts uncover new clinical applications for MEG technology.
North America dominated the market in 2023, generating USD 88.8 million in revenue. The region's growth, forecasted at a CAGR of 10.5% through 2032, is supported by advanced healthcare infrastructure and substantial investments in neurological research. With rising incidences of brain-related disorders and the presence of leading neuroscience institutions, North America remains a significant contributor to the global MEG market.
Overall, the increasing focus on precision diagnostics, in line with technological advancements, positions the MEG market for sustained growth across clinical and research applications.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definitions
- 1.2 Research design
- 1.2.1 Research approach
- 1.2.2 Data collection methods
- 1.3 Base estimates & calculations
- 1.3.1 Base year calculation
- 1.3.2 Key trends for market estimation
- 1.4 Forecast model
- 1.5 Primary research and validation
- 1.5.1 Primary sources
- 1.5.2 Data mining sources
Chapter 2 Executive Summary
- 2.1 Industry 360° synopsis
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Growing prevalence of neurological disorders
- 3.2.1.2 Rapid technology advancements in the field of magnetoencephalography
- 3.2.1.3 Growing applications in clinical diagnosis and research
- 3.2.2 Industry pitfalls & challenges
- 3.2.2.1 Availability of alternative neuroimaging technologies
- 3.2.2.2 High cost of magnetoencephalography systems
- 3.2.1 Growth drivers
- 3.3 Growth potential analysis
- 3.4 Technology landscape
- 3.5 Advantages of MEG over fMRI and EEG
- 3.6 Future market trends
- 3.7 Pipeline analysis
- 3.8 Worldwide MEG installations, by region and country
- 3.8.1 North America
- 3.8.1.1 U.S.
- 3.8.1.2 Canada
- 3.8.2 Europe
- 3.8.2.1 Germany
- 3.8.2.2 UK
- 3.8.2.3 France
- 3.8.3 Asia Pacific
- 3.8.3.1 China
- 3.8.3.2 Japan
- 3.8.1 North America
- 3.9 Brand analysis
- 3.10 Regulatory landscape
- 3.11 Reimbursement scenario
- 3.12 Porter's analysis
- 3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Company market share analysis
- 4.4 Competitive analysis of major market players
- 4.5 Competitive positioning matrix
- 4.6 Strategy dashboard
Chapter 5 Market Estimates and Forecast, By Product Type, 2021 - 2032 ($ Mn and Units)
- 5.1 Key trends
- 5.2 Cryogenic systems/Conventional
- 5.3 OPM systems
Chapter 6 Market Estimates and Forecast, By Application, 2021 - 2032 ($ Mn)
- 6.1 Key trends
- 6.2 Clinical
- 6.2.1 Epilepsy
- 6.2.2 Autism
- 6.2.3 Dementia
- 6.2.4 Stroke
- 6.2.5 Traumatic brain injury (TBI)
- 6.2.6 Other clinical applications
- 6.3 Research
Chapter 7 Market Estimates and Forecast, By End Use, 2021 - 2032 ($ Mn)
- 7.1 Key trends
- 7.2 Hospitals
- 7.3 Imaging centers
- 7.4 Academic and research institutes
Chapter 8 Market Estimates and Forecast, By Region, 2021 - 2032 ($ Mn)
- 8.1 Key trends
- 8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.5 Rest of the World (RoW)
Chapter 9 Company Profiles
- 9.1 Cerca Magnetics
- 9.2 Compumedics
- 9.3 CTF MEG
- 9.4 FieldLine
- 9.5 MEGIN
- 9.6 Ricoh USA
