Electroencephalography is a technique to record electrical activity generated by the human brain. Other problems associated with improper functioning of the brain, which can be diagnosed using EEG devices include coma, confusion, stroke, and tumors, among others.
New York, NY -- (SBWIRE) -- 01/14/2016 -- The rising incidence of neurological disorders is augmenting the demand for electroencephalography (EEG) devices. Electroencephalography is a monitoring method carried out to measure and record electrical activities in the brain. It is typically a noninvasive method, where electrodes are placed along the scalp. However, for certain specific cases, invasive electrodes are used as well. Neurological disorders or ailments such as coma, stroke, tumors, and Parkinson's disease are diagnosed with the help of EEG.
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Growing Demand for Brain Monitoring Devices Boosts Global Electroencephalography Devices Market
Growing demand for sophisticated brain monitoring devices that give accurate results is driving product innovation, which subsequently fuels the global market for electroencephalography (EEG) devices. An EEG setup comprises display of data gathered using implements such as a display device, connecting wires, electrodes, software, and amplifiers. Apart from this, the system also includes collection storage. Due to it being a reliable, noninvasive, and cost-effective way of brain monitoring, EEG has witnessed increased deployment across the global healthcare sector. Owing to these factors, the global EEG devices market is expected to gain much prominence in forthcoming years.
Global Electroencephalography Devices Market to Rise at 6.80% CAGR
The global EEG devices market, which stood at US$879.0 mn in 2014, is anticipated to expand at a positive CAGR of 6.80% between 2015 and 2021. During the latter part of the forecast period, the EEG devices market is expected to witness a surge in demand, spurred by the increasing investments from device manufacturers aimed at catering to the rising demand for EEG devices worldwide. At present, among the modalities already available in the market, portable or ambulatory EEG will emerge as potentially the most viable sector for investment for companies operating in the global EEG devices market. Easy accessibility and high level of patient comfort offered when the procedure is conducted through the aforementioned modality are aiding the growth of the market segment.
For the purpose of the study, the global EEG devices market is segmented on the basis of modality, end use, and product type. In terms of product type, the market comprises multi-channel EEG, 40-channel EEG, 32-channel EEG, 25-channel EEG, 21-channel EEG, and 8-channel EEG. In terms of modality, the market includes standalone or fixed devices and portable devices. By end use, demand from the market can be segmented into diagnostic centers and hospitals.
Asia Pacific Electroencephalography Devices Market to Reach US$259.5 mn by 2021
Regionally, the global EEG devices market can be segmented into Latin America, North America, Europe, the Middle East and Africa, and Asia Pacific. Of these, the Asia Pacific market for EEG was valued at US$152.2 mn in 2014. By 2021, the market is expected to reach US$259.5 mn. Growing demand for accurate diagnosis of critical disorders such as epilepsy has impelled companies to focus on development of EEG devices.
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Some of the prominent vendors operating in the market are Compumedics Limited, Cadwell Laboratories Inc., Electrical Geodesics Inc., EB Neuro S.P.A, Natus Medical Inc., Elekta A.B., Lifelines Neurodiagnostic Systems Inc., are BrainScope Company Inc., Neurowave Systems Inc., Neurosoft Ltd., Nihon Kohden Corp., Bio-Signal Group Corp., and Jordan NeuroScience Inc.
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