Albany, NY -- (SBWIRE) -- 08/29/2018 -- Global EEG and EMG Equipment Market: Snapshot
Electroencephalography (EEG) and electromyography (EMG) are neurophysiology devices that are designed to help physicians assess the functions of the central and peripheral nervous system such as the muscular system. These analytical tools are used for understanding the progression of diseases and disorders such as epilepsy, sleep disorders, neurological critical care, and cognitive alterations. Therefore, the rising pool of geriatric population that is prone to these conditions is expected to drive the growth of the global EEG-EMG equipment market in the coming years. Owing to these reasons, the global market is expected to be worth US$2.4 bn by the end of 2024 from US$1.3 bn in 2015. Between the forecast period of 2016 and 2024, the global market is estimated to expand at a CAGR of 7.4%.
The market is also likely to be driven by the high prevalence of brain disorders among elderly population such as Alzheimer's disease and Parkinson's disease. Furthermore, remarkable innovations in the technologies used in the overall market for developing devices to treat sleep disorders are expected to accelerate the growth of the global EEG-EMG equipment market. The increasing number of pediatric neurological disorder cases are also expected to augment the demand for EEG-EMG equipment in the near future. The commonly seen pediatric neurological disorders are brain tumors, spinal degenerative diseases, neuropathies, movement disorders, and epilepsy.
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Electroencephalography to Lead the Pack as their Adoption in Hospitals and Research Institutes Increases
On the basis of product, the global EEG-EMG equipment market is divided into electroencephalography and electromyography. Of these, the EEG segment led the pack, accounting for nearly 61.6% share in the global market in 2015. This segment is expected to continue its dominance throughout the forecast period as they are used in neurodiagnostic centers, hospitals, and research institutes in order to gain accurate and effective diagnostic results.
The report also indicates that the EMG segment is also anticipated to grow at a phenomenal pace during the forecast period as the cases of spinal cord or neural diseases among geriatric population continue to be on the rise. The innovation in technologies and software to enhance the quality of EEG equipment required for treating Alzheimer's disease and Parkinson's disease are also projected to drive the global market.
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North America Emerges as Key Regional Market with Robust Healthcare Programs
In terms of geography, the global EEG-EMG equipment market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held a leading position in the global EEG-EMG equipment market in 2015, accounting for a share of 35.1% in the overall market. The region is expected to continue its dominance in the coming few years due to the high prevalence of neural diseases and presence of healthcare awareness program for the aging population. Additionally, technological developments and growing demand for neurophysiology devices from both physicians and researchers are also anticipated to impact the regional market in a positive way.
The key players operating in the global EEG-EMG equipment market are Nihon Kohden Corporation, Cadwell Industries, Inc., Compumedics Limited, Medtronic, Natus Medical Incorporated, Electrical Geodesics Inc., Masimo Corporation, Zynex Inc., Allengers Medical Systems Limited and others. As of 2016, Nihon Kohden Corporation held a dominant share in the global EEG-EMG equipment market.
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