PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1787105
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1787105
Global Magnetoencephalography Market to Reach US$379.3 Million by 2030
The global market for Magnetoencephalography estimated at US$298.2 Million in the year 2024, is expected to reach US$379.3 Million by 2030, growing at a CAGR of 4.1% over the analysis period 2024-2030. Clinical Application, one of the segments analyzed in the report, is expected to record a 3.3% CAGR and reach US$221.6 Million by the end of the analysis period. Growth in the Research Application segment is estimated at 5.3% CAGR over the analysis period.
The U.S. Market is Estimated at US$81.2 Million While China is Forecast to Grow at 7.4% CAGR
The Magnetoencephalography market in the U.S. is estimated at US$81.2 Million in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$76.7 Million by the year 2030 trailing a CAGR of 7.4% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.7% and 3.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.4% CAGR.
Global Magnetoencephalography (MEG) Market - Key Trends & Drivers Summarized
Why Is Magnetoencephalography Gaining Importance?
Magnetoencephalography (MEG) is an advanced neuroimaging technique that measures the magnetic fields produced by neural activity in the brain. MEG provides a non-invasive and highly accurate method for studying brain function, making it a crucial tool in neurology, cognitive research, and pre-surgical brain mapping. With the rising prevalence of neurological disorders such as epilepsy, Alzheimer’s disease, and traumatic brain injuries, the demand for MEG technology is increasing in both clinical and research settings.
Unlike traditional electroencephalography (EEG), which can be affected by skull and scalp interference, MEG offers superior spatial resolution and real-time brain activity mapping. As neuroscience advances and brain-computer interface (BCI) research expands, MEG is playing a growing role in understanding cognitive functions, detecting neurological abnormalities, and assisting in the development of neuroprosthetic devices.
How Are Innovations Enhancing the Performance of MEG?
Recent innovations in MEG technology are improving sensitivity, portability, and affordability. Traditional MEG systems require large and expensive magnetically shielded rooms to minimize environmental noise. However, advancements in optically pumped magnetometers (OPMs) have enabled the development of compact and wearable MEG systems that can function outside of shielded environments, making them more accessible for clinical and research applications.
AI-powered MEG data analysis is also improving diagnostic precision, allowing for real-time detection of abnormal brain activity patterns associated with neurological conditions. Additionally, the integration of MEG with other imaging modalities, such as MRI and positron emission tomography (PET), is enhancing multi-modal brain mapping capabilities for a more comprehensive understanding of brain function.
What Are the Key Market Drivers?
The increasing global burden of neurological and psychiatric disorders is a major driver for the MEG market. The growing emphasis on early diagnosis and personalized medicine in neurology is further fueling the adoption of advanced imaging technologies like MEG. Research into brain-computer interfaces, neurostimulation therapies, and cognitive neuroscience is expanding the scope of MEG applications beyond traditional clinical use.
What Challenges and Future Opportunities Exist?
Challenges include the high cost of MEG systems, limited availability of trained specialists, and the complexity of MEG data interpretation. However, opportunities lie in the development of cost-effective, portable MEG devices that expand access to advanced neuroimaging. The rise of AI-powered neuroanalytics, real-time brain monitoring for neurorehabilitation, and MEG-assisted brain-computer interfaces (BCIs) are expected to drive future market growth.
SCOPE OF STUDY:
The report analyzes the Magnetoencephalography market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Application (Clinical Application, Research Application); End-Use (Hospitals End-Use, Imaging Centers End-Use, Academic & Research Institute End-Uses)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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