The global electroencephalography (EEG) and electromyography (EMG) equipment market is researched by analysts to testify a spurring growth in demand as technological innovations take charge of the development of devices to treat sleep problems. In a recently published laboratory equipment article, the use of EEG and EMG devices by a research circle from the International Institute for Integrative Sleep Medicine (WPI-IIIS), University of Tsukuba was mentioned. Both the devices were engaged to record the effects of sleep-inducing herb ashwagandha from India on a mice which experienced positive changes in non-rapid eye movement (NREM) and rapid eye movement (REM) sleep. The researchers from Japan found that the triethylene glycol (TEG) content of ashwagandha can help to tackle sleep as well as stress disorders.
According to a seasoned market research firm, Transparency Market Research (TMR), the world EEG-EMG equipment market is predicted to rise to a valuation of US$2.46 bn by 2024 from US$1.39 bn in 2016 at a 7.4% CAGR.
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How will the Growth in Geriatric Population affect the Market?
With elderly people in the U.S. forecasted to account for 20.0% of the total population, as per the statistics of the Neurodiagnostic Journal–2015, new EEG technologies are expected to take birth. These technologies would be developed with the intention of gaining an upper hand in the treatment of specific abnormalities in the older population. The global EEG-EMG equipment market is expected to receive a strong boost in growth from the neurodiagnostics and neurophysiology sector as a result of a high occurrence of epilepsy and Parkinson’s disease.
Other factors that could significantly contribute toward the growth of the global EEG-EMG equipment market are the rising importance of EEG equipment in ICUs, increasing demand for new video neurology monitoring systems, and augmenting count of specialty neurocare monitoring centers.
Development in Technology and Neurocare Diagnostics Demand a Bitter Pill in Disguise?
Industry players could counter a few hurdles on their growth path in the world EEG-EMG equipment market. With the rising demand for EEG neurocare diagnostic devices for brain disorders, the treatment charges and production cost are envisaged to increase along with the cost of commodities such as software, monitors, electrodes, and amplifiers. Moreover, the advancement in technology used for manufacturing substitute products such as MEG, CT, and MRI could cutback the demand for EEG and EMG devices.
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However, less developed countries such as China, South Africa, Mexico, and Brazil are prognosticated to offer well-paid opportunities for manufacturers with a rising geriatric population base, high demand for sophisticated healthcare facilities, and improving disposable income. Acquisitions and collaborations promoting consolidation in the world EEG-EMG equipment market could increase the customer base and company presence of large players with added proprietary technologies, distributaries, and supply chains.
Out of the leading companies operating in the international EEG-EMG equipment market, Allengers Medical Systems Limited, Zynex Inc., Masimo Corporation, Electrical Geodesics Inc., Natus Medical Incorporated, Medtronic, Compumedics Limited, and Cadwell Industries, Inc. are envisioned to make their presence known. Nihon Kohden Corporation was studied to hold a superior share in 2016.
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