Electroencephalography (EEG) Devices Market Share, Size, Trends, Industry Analysis Report, By Modality (Portable, Standalone); By Product; By Application; By End-Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jul-2023
- Pages: 113
- Format: PDF
- Report ID: PM1833
- Base Year: 2022
- Historical Data: 2019-2021
Report Outlook
The global electroencephalography (EEG) devices market was valued at USD 2.10 billion in 2022 and is expected to grow at a CAGR of 3.4% during the forecast period.
The electroencephalography process involves using little metal discs, known as electrodes, attached to the scalp. These electrodes detect the electrical activity occurring within the brain. Even during sleep, the brain cells communicate with each other through electrical impulses, which can be observed as wavy lines on an EEG recording.
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Electroencephalography devices can detect disparities in brain action, which in turn can assist in diagnosing various brain disorders, including seizure disorders and epilepsy. Moreover, they can be employed for diagnosing or treating conditions such as brain tumors, brain damage resulting from head injuries, brain dysfunction with diverse underlying causes, brain inflammation, strokes, and sleep disorders.
Additionally, an EEG can confirm brain death in individuals in a coma for an extended period. In the case of medically induced comas, continuous electroencephalography is employed to determine the appropriate level of anesthesia. The electroencephalography devices market is experiencing growth due to the expanding healthcare sector, increased research and development investments, technological advancements, and the rising prevalence of neurological disorders.
According to data from the ALS Association, it is projected that approximately 12.7 million individuals aged 65 and older will be affected by Alzheimer's disease by 2050. Additionally, statistics from the National Vital Statistics Report compiled by the Centers for Disease Control and Prevention (CDC) reveal that stroke ranked as the fifth due cause of death in the United States. The same data source indicates that the average years of potential life lost before the age of 75 due to cerebrovascular diseases amounted to 187.1 in the U.S. These figures highlight the growing prevalence of these conditions, emphasizing the need for continuous monitoring and treatment, thereby driving the demand for electroencephalography (EEG) devices market.
Furthermore, the data also indicates that the global number of Alzheimer's disease patients is expected to exceed 106.23 million by 2050. The increasing elderly population worldwide, aided by improved healthcare systems, has led to heightened research and development efforts in neuroscience. Collaborative initiatives such as Takeda's partnership with Denali Therapeutics focusing on Alzheimer's and Parkinson's, as well as Biogen's collaboration with Pfizer for the expansion of cognitive drugs for schizophrenia, are expected to influence market growth in the foreseeable future positively.
Moreover, manufacturers are making significant investments in research and development to deliver advanced brain monitoring devices, another key factor contributing to the expansion of the electroencephalography systems market. These companies are dedicating resources to enhancing existing products and developing new ones to meet the growing demand for advanced devices.
Industry Dynamics
Growth Drivers
Increasing prevalence of non-communicable neurological diseases
In India, neuropathic diseases such as headache disorders, epilepsy, and stroke are the primary causes of concern. The increasing prevalence of non-communicable neurological diseases can be attributed to the aging population. According to a study published in The Lancet Global Health, a significant majority (82.8%) of the neurological disorders reported in 2019 were non-communicable. These disorders include stroke, cerebral palsy, epilepsy, Parkinson's disease, Alzheimer's disease, and other similar conditions. The use of electroencephalography devices is widespread for analyzing and diagnosing such neurological diseases, driving the demand for the market for electroencephalography (EEG) machines.
The rising incidence of Alzheimer's cases further contributes to the growing demand for electroencephalography devices. Dementia affects over 25 million people globally, most suffering from Alzheimer's. This condition profoundly impacts affected individuals, their caregivers, and society as a whole, both in developed and developing countries. In Europe alone, approximately 165 million people, accounting for 38% of the population, experience mental and neurological disorders such as insomnia, depression, dementia, or anxiety each year. This scenario further amplifies the growth of the electroencephalography (EEG) devices market.
Report Segmentation
The market is primarily segmented based on modality, product, application, end-use, and region.
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By Product |
By Application |
By End-Use |
By Region |
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32-channel EEG segment held the largest revenue share during the forecast period
During the forecast period, the 32-channel EEG segment held the largest revenue share due to the technological advancements in 32-channel EEG products and their wide adoption among healthcare professionals, driving the overall market growth. Following these segments, the 25-channel EEG and 40-channel EEG segments also held substantial revenue shares in 2022. These segments are expected to demonstrate significant growth rates throughout the forecast period. Notably, products such as the Neurofax EEG-1200 Diagnostic and Monitoring Platform offered by Nihon Kohden Corporation are projected to gain popularity in the coming years.
The hospital's segment held the highest market share in 2022
In 2022, the hospital's segment held the highest market share due to the increasing number of patients who have epilepsy, traumatic brain injuries, and other neurological disorders. Furthermore, the focus on healthcare infrastructure development in growing countries in Africa and the Asia Pacific contributes to the growth of this segment. Hospitals serve as primary end-users of EEG devices as they require detailed recording and evaluation of rhythm and electrical activity for clinical and research purposes.
The diagnostic center's segment is expected to exhibit significant growth during the study period, driven by increased awareness of neurodegenerative disorders—the growing awareness among individuals due to a demand for advanced EEG products for disease diagnosis and prevention. Developed countries like the U.S. and Germany have a high demand for advanced diagnostic products due to their well-established healthcare infrastructure.
North America dominated the global market in 2022
In 2020 North America dominated the global electroencephalography (EEG) devices market due to the robust healthcare sector, technological advancements, and increased investment in research and development activities. Neurological illnesses and disorders have significant and sometimes fatal implications for millions of people of all ages in the United States. Recognizing the rising prevalence of neurological diseases, Congress granted the Centers for Disease Control and Prevention (CDC) permission in 2016 to develop the National Neurological Conditions Surveillance System (NNCSS).
Stroke, in particular, is a top reason for death and a major contributor to serious disabilities among adults in the United States. According to data from the Centers for Disease Control and Prevention, over 795,000 people in the U.S. experience a stroke each year. Between 2014 and 2015, the economic cost of stroke in the United States was nearly $46 billion, encompassing healthcare services and treatment medications.
Competitive Insight
Some of the key players working in the global market include Cephalon A/S, BrainScope Company Inc., Nihon Kohden America, Electrical Geodesics, Inc., Compumedics Ltd., Natus Medical, Inc., Elekta AB, Koninklijke Philips, NeuroScience Inc., Lifelines Neurodiagnostic Devices Inc., Bio-Signal Group Corp., Medtronic, Neurosoft Ltd., Cadwell Laboratories, Inc., Inc., and NeuroWave Devices, Inc.
Recent Developments
- On April 2020, Brain Scientific Inc. introduced its online store, offering FDA-cleared NeuroCap and NeuroEEG products. The NeuroCap is a disposable headset designed to be used once and discarded to minimize the risk of cross-contamination. This innovative approach distinguishes NeuroCap from conventional reusable EEG electrodes.
- In 2019, Ceribell, a U.S.-based company, unveiled an FDA-approved rapid response electroencephalography (EEG) system. This cutting-edge system enables continuous bedside EEG monitoring, offering swift seizure identification and alerts for prompt medical intervention.
- In the year 2019, Nihon Kohden, a prominent provider of exactitude medical services and products worldwide, made an exciting announcement in the U.S. They introduced the VitalEEGTM electroencephalogram (EEG) headset, which is wireless, designed to facilitate rapid examination of brain-wave information in unconscious patients.
Electroencephalography (EEG) Devices Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 2.16 billion |
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Revenue forecast in 2032 |
USD 2.92 billion |
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CAGR |
3.4% from 2023 – 2032 |
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Base year |
2022 |
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Historical data |
2019 – 2021 |
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Forecast period |
2023 – 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments Covered |
By Modality, By Product, By Application, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Cephalon A/S, BrainScope Company Inc., Electrical Geodesics, Inc., Compumedics Ltd., Elekta AB, Koninklijke Philips, NeuroScience Inc., Lifelines Neurodiagnostic Devices Inc., Bio-Signal Group Corp., Natus Medical, Inc., Medtronic, Neurosoft Ltd., Cadwell Laboratories, Inc., Nihon Kohden America, Inc., and NeuroWave Devices, Inc. |
FAQ's
The global electroencephalography (EEG) devices market size is expected to reach USD 2.92 billion by 2032.
Key players in the electroencephalography (EEG) devices market are Cephalon A/S, BrainScope Company Inc., Nihon Kohden America, Electrical Geodesics, Inc., Compumedics Ltd.
North America contribute notably towards the global electroencephalography (EEG) devices market.
The global electroencephalography (EEG) devices market is expected to grow at a CAGR of 3.4% during the forecast period.
The electroencephalography (EEG) devices market report covering key segments are modality, product, application, end-use, and region.
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