Electroencephalography
Equipment Market: Introduction
Rise in genetic diseases such as
Parkinson’s, Alzheimer’s, brain-related diseases, epilepsy, encephalitis
(inflammation of the brain), and brain tumor is a major challenge facing the
medical field currently. Encephalopathy, sleep disorders, head injury,
headaches, and memory problems, which if not treated on time, can affect the
whole physical and mental health of a person and even prove fatal. Commonly
used approach for the treatment of these issues is EEG
(Electroencephalography). EEG (Electroencephalography) is a type of test in
which the frequency and amount of electrical signals in the brain are measured
with the help of small, metal discs termed as electrodes that are attached to
the scalp. A change in the normal signaling frequency in the brain is detected
using EEG, whose results can be utilized for further analysis, diagnosis, and
treatment.
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Key Drivers and
Restraints of Electroencephalography Equipment Market
·
Increase in the number of nerve-related disorders and their
prevalence, being a less invasive method of treatment with no pains associated
with the treatment procedure, technological advancements, increased accuracy
and precision of EEG to give 100% correct output, no chances of false positive
results, and adoption of EEG in hospitals and surgical treatment centers are
major factors boosting the electroencephalography equipment market
·
Increased competition among top players operating in the EEG
market; use of large number of substitute products for the treatment of
neurological disorders; lack of awareness about EEG among people; high cost of
manufacturing, installation, and maintenance; and a lack of trained and skilled
manpower such as technicians and workers for operation of EEG are major factors
that are likely to hamper the global electroencephalography equipment market
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EEG Accessories segment
to dominate electroencephalography equipment market
·
Based on product, the electroencephalography equipment market
can be bifurcated into EEG equipment and EEG accessories. Furthermore, the EEG
Equipment segment can be divided into Integrated EEG Systems and Portable EEG
Systems.
·
Increased use and repeated purchase of EEG accessories by
different hospitals, diagnostic and surgical centers, research organizations,
and institutes is attributed to significant share held by the EEG accessories
segment, in terms of revenue, of the global electroencephalography equipment
market. Moreover, an increase in the number of patients suffering from
different neural ailments is also an additional factor attributed to the
dominant position held by the EEG accessories segment in the global
electroencephalography equipment market.
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Disease diagnosis
segment to expand rapidly
·
Based on application, the global electroencephalography
equipment market can be classified into disease diagnosis, sleep monitoring,
anesthesia monitoring, trauma, surgery, and others
·
Increase in the percentage of patients suffering from various
neurological disorders followed by their treatment and diagnosis is expected to
propel the segment at a CAGR of 5.5% during the forecast period
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Hospitals segment held
notable market share
·
Based on end-user, the global electroencephalography equipment
market can be split into hospitals, diagnostic centers, ambulatory surgical
centers, research laboratories, and others
·
The hospitals segment accounted for a notable share of the
market due the facilities provided by hospitals such as brain monitoring, sleep
monitoring, anesthesia monitoring, and numerous medications required for
patients. Moreover, the number of patients admitted in hospitals are
considerably more in number, as compared to that in surgical centers and
healthcare organizations.
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North America to
dominate global electroencephalography equipment market
·
In terms of region, the global electroencephalography equipment
market can be classified into North America, Europe, Asia Pacific, Latin
America, and Middle East & Africa
·
North America holds a leading share of the global
electroencephalography equipment market due to the presence of highly skilled
and trained lab technicians and workers, advancements in technology equipment,
with increased R&D funding from governments and corporates in the region.
Moreover, the number of people suffering from neurological disorders such as
epilepsy, Parkinson’s, and Alzheimer’s is considerably large and the increase
in their numbers is significantly high in North America as compared to other
countries.
·
Good healthcare facilities and infrastructure, excellent sales,
and distribution network are also key factors that boost the
electroencephalography equipment market in the region
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