EEG Devices Market is estimated to grow at a CAGR of 7.5 % during 2021–2028

Posted by Prabha Mahajan on October 7th, 2022

According to our market research study on “EEG Devices Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product, Application, Device Type, and End User,” the market is expected to reach US$ 1,699.52 million by 2028 from US$ 1,025.92 million in 2021; it is estimated to grow at a CAGR of 7.5% from 2021 to 2028.

Electroencephalography (EEG) is the study of electrical brain action along with the scalp. With the help of multiple electrodes placed on the head, the EEG equipment examines voltage fluctuations resulting from ionic current flows in the brain's neurons. EEG is among the most stable and predicative pointers when analyzing human cognition, evaluating a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy. And also, the device is used to identify sleep disorders, coma, anesthesia, encephalopathies, and brain death. The device is utilized for the diagnosis of tumors, stroke, and other brain ailments.

Neurological diseases are the diseases of the spine, brain, and nerves that connect them. The neurovascular systems are highly dependent on the continuous supply of oxygen and nutrients, which has been supplied by the arteries and veins. The amount of oxygen and nutrients to the brain is essential for its working; therefore, a defect in the system can impair the function, and it may quickly become a life-threatening factor. The neurovascular diseases include hemorrhage stroke, ischemic stroke, and brain tumors. Genetic disorders, lifestyle habits, and related chronic conditions may cause the development of neurovascular diseases. During the last few years, the predominance of neurological disorders has increased significantly. For instance, epilepsy is one of the neurovascular diseases that is rising significantly across the globe.

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Based on product, the global EEG devices market is segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, multi-channel EEG, 21-channel EEG, and 8-channel EEG. In 2020, the 32-channel EEG segment held the largest share of the market. However, multi-channel EEG segment is expected to register the highest CAGR during 2021–2028. High-tech development in 32-channel EEG products and increased implementation of these products by healthcare professionals are the major factors driving the segment. The market for the segment is anticipated to grow in the future owing to the increasing use of these devices to treat neurological diseases.

The EEG devices market majorly consists of the players such as Brain Products GmbH, g.tec medical engineering GmbH, Cognionics, Inc., Wearable Sensing, Neuroelectrics, ANT Neuro, Mitsar Co. Ltd., Neurosky, Biosemi, Advanced Brain Monitoring, Inc., EMOTIV, MUSE, Koninklijke Philips N.V., and Bitbrain Technologies among others. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have adopted several inorganic and organic strategies to accelerate their growth and improve their market position.

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Prabha Mahajan

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Prabha Mahajan
Joined: September 26th, 2022
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