The growing geriatric population, those suffering from neurological disorders, and increasing purchasing power in low and middle income countries are playing a significant role in the growth of the brain monitoring market.
Allied Market Research published a report, titled, “Brain Monitoring Market by Technology(Devices and Accessories),and Application(Epilepsy, Dementia, Parkinsons Disease, Huntingtons Disease, Headache Disorders, Stroke, Traumatic Brain Injuries and Sleep Disorders)-Global Opportunity Analysis and Industry Forecast, 2018-2025.” According to the report, the global brain monitoring market was estimated at $3.8 billion in 2017 and is anticipated to reach $6.5 billion by 2025, registering a CAGR of 6.9% during the study period.
Rise in the geriatric population, increase in the prevalence of neurological disorders and high-end technological advancements have fueled the growth of global brain monitoring market. On the other hand, strict government regulations and unfavorable reimbursement policies have happened to check the growth to some extent. Nevertheless, untapped market in developing economies have created multiple opportunities in the segment.
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The report fragments the market into product type, procedure, application and region. Based on product type, the market is segmented into electroencephalography (EEG) devices, magnetoencephalography (MEG) devices, transcranial Doppler (TCD) devices, intracranial pressure (ICP) monitors, cerebral oximeters, magnetic resonance imaging (MRI) devices, computerized tomography (CT) devices, positron emission tomography (PET) devices, sleep monitoring devices, electromyography (EMG) devices, and accessories. Based on procedure, the market is bifurcated into invasive and non-invasive. Based on application, the market is categorized into Epilepsy, Dementia, Parkinson’s Disease, Huntington’s Disease, Headache Disorders, Stroke, Traumatic Brain Injuries, Sleep Disorders, and Other Diseases.
By product type, the EEG segment came out as the largest revenue contributor in 2017, and is expected to continue this drift throughout the estimate period. This is due to the increase in demand for diagnosis of critical disorders such as epilepsy. Moreover, it has further exerted a sway on companies to emphasize on the development of brain monitoring EEG machines.
Based on geography, the market is divided into North America, Europe, Asia-Pacific, and LAMEA. North America held the largest market share in 2017 and is anticipated to be dominant during the forecast period. Rising adoption rate of brain monitoring devices and the presence of leading manufacturers in the province have driven the growth. .
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The report analyzes the major market players such as CAS Medical Systems, Inc., General Electric Company (GE Healthcare), Compumedics Ltd., Advanced Brain Monitoring, Inc., Koninklijke Philips N.V. (Philips Healthcare), Neural Analytics, Inc., Medtronic Plc., Natus Medical Incorporated, and Siemens AG. Adopting a number of top-end strategies, they have become successful in retaining their top status in the industry. The other players covered in the report take in Elekta A.B., Cadwell Laboratories, BrainScope Company, Inc., InfraSacn, Inc., and Neurosoft Limited.
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