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The EEG electrodes market size is estimated to grow by USD 105.4 million at a CAGR of 6.78% between 2023 and 2028. The market is experiencing growth driven by several key factors. Firstly, the increasing prevalence of neurological disorders, such as epilepsy and Alzheimer's disease, is driving the demand for these procedures as a diagnostic tool. Secondly, there is a rising demand for EEG procedures and EEG and EMG devices in various healthcare settings, including hospitals, clinics, and research institutions, as they are non-invasive and provide valuable insights into brain activity. Lastly, increasing initiatives and support from governments and healthcare organizations are enhancing access to EEG procedures and driving market growth. These factors collectively underscore the importance of EEG procedures in neurodiagnostics and monitoring neurological disorders and the increasing role they play in healthcare.
The prevalence of neurological diseases has increased the demand for EEG. The examination is essential for diagnosing some neurological disorders. It is also increasingly being used for other applications such as cognitive health and well-being, sleep quality monitoring, and stress reduction. For example, EMOTIV's Insight is a wearable headset that monitors a user's cognitive health and well-being, emphasizing the importance of wearable medical devices. It records the user's brain waves and converts them into meaningful data. Rising demand for these procedures for diagnosing neurological disorders and other applications is expected to drive the growth of the global market during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Ambu AS: The company offers Ambu Neuroline Cup electrode, Ambu Neuroline Subdermal.
Ambu AS, BIOPAC Systems Inc., Cadwell Industries Inc., Compumedics Ltd., Conmed Corp., Dixi Medical, Johnson and Johnson Services Inc., Koninklijke Philips N.V., Medical Computer Systems Ltd., Medtronic Plc, Natus Medical Inc., Neuroelectrics Barcelona SLU, NeuroWave Systems Inc., Nihon Kohden Corp., PMT Corp., Rhythmlink International LLC, SOMNOmedics GmbH, SPES MEDICA SRL, Technomed, and Wuhan Greentek Pty. Ltd.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market share growth by the disposable EEG electrodes segment will be significant during the forecast period. Disposable electrodes are discarded after one use. Many end-users increasingly prefer disposable EEG electrodes over reusable electrodes due to their advantages. The growing demand for disposable medical electrodes and other disposable medical supplies is mainly due to the prevention of infectious diseases.
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The disposable EEG electrodes segment was valued at USD 142 million in 2018. The price is less than that of reusable electrodes. In addition to an improved safety profile and reduced price, the use of disposable EEG electrodes saves time, and money when compared to reusable electrodes that require reprocessing, storage, and storage. Thus, such advantages are expected to boost the growth of the segment of the global market during the forecast period.
Hospitals are at the forefront of neurological diagnosis and treatment and require state-of-the-art medical equipment and technology. Real-time data provided enables early detection of abnormalities and aids in the diagnosis of various neurological disorders such as epilepsy, sleep disorders, and brain injuries. The prevalence of neurological diseases such as epilepsy, Alzheimer's disease, and Parkinson's disease is increasing worldwide. Furthermore, as hospitals act as primary medical facilities for patients suffering from these conditions, there is a significant need for to enable accurate and timely diagnosis. EEG medical electrodes play an important role in assessing cognitive function and detecting abnormalities in the elderly, making them an essential tool for hospitals treating the elderly. Such factors are expected to drive the growth of the hospital segment in the global market during the forecast period.
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North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional market growth and trends that will shape the market during the forecast period.
The US and Canada are the leading revenue contributors to the market in North America. The rising number of EEG procedures being performed, increasing healthcare expenditure on the treatment of neurological diseases, the growing incidence of neurological diseases, and the rising older population are the key factors that driving the growth of the market in North America.
Furthermore, some governments and non-profit organizations are generating awareness about the early diagnosis of neurological diseases in the region. Various institutions, such as the CDC and the NIH, are conducting awareness campaigns regarding neurological diseases, such as epilepsy, Alzheimer's disease, Parkinson's, stroke, and brain cancer. Hence, such initiatives from government organizations and the growing prevalence of neurological conditions are expected to drive the growth of the market in North America during the forecast period.
The market is witnessing significant growth, driven by advancements in Electroencephalography (EEG) technology and a rising geriatric population requiring neurological monitoring. These electrodes are crucial components of EEG systems, used to detect and record the electrical activity of the brain through the scalp. The market is also influenced by the increasing prevalence of conditions such as schizophrenia, driving the demand for diagnostic and treatment methods. Healthcare professionals rely on these medical devices to accurately capture brain signals for analysis. With a focus on patient safety, the market is seeing a rise in disposable EEG electrodes to prevent cross-contamination. As per the National Vital Statistics Report from the Centers for Disease Control and Prevention (CDC), the EEG electrode market is expected to continue its growth trajectory, offering innovative solutions for neurological monitoring. Electroencephalography devices, also known as EEG machine, are used in medical settings to record brain impulses. These medical device often use disposable EEG electrode to ensure accurate reading. Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
Increasing initiatives and support from governments and healthcare organizations driving the growth of the market. Governments and healthcare institutions are making various efforts to improve healthcare access for patients with neurological disorders. For example, the World Health Organization (WHO) is working with partners and stakeholders to improve access to care for people with epilepsy. Also, the Welsh Government aims to improve access to care for people with neurological disorders such as epilepsy, cerebral palsy, and Parkinson's disease in Wales.
Furthermore, Dana Alliance organized Brain Awareness Week for Brain Initiatives, which is a global campaign aimed at raising public awareness of the advances and benefits of brain research. Public agencies are also increasing funding for neurological disorders. Such initiatives will increase the demand, which is expected to drive the growth of the global market during the forecast period.
The rising popularity of hybrid brain-computer interface techniques is the primary trend in the market. There is a growing demand for devices that combine two or more modalities of brain imaging and prosthetic control. Hybrid brain-computer interface (HBCI) has many advantages over single-brain acquisition methods. For example, device hybridization increases the number of brain commands for control applications, improves the classification accuracy of BCI, and reduces signal recognition time.
Moreover, it is often used in combination with other brain or extracerebral signal acquisition modalities due to its ease of use and fast temporal resolution. For example, electrooculography (EOG), electromyography (EMG), functional near-infrared spectroscopy (fNIRS), magnetoencephalography (MEG), and eye trackers are increasingly used. Robust dry electrodes are essential for EEG-BCI to become a viable technique. Therefore, increasing demand for HBCI is expected to drive the growth of the global market during the forecast period.
The high cost of EEG devices and procedures is the challenge that affects the growth of the market. Many end users are void to use these devices because they are expensive. The cost of these devices depends on the number of channels. Depending on the number of channels, EEG headsets with 1 to 32 channels cost around USD 1,000 to USD 25,000, while EEG headsets with more than 64 channels can cost over USD 25,000. In addition to the cost of the device, end-users must also bear maintenance fees and other recurring costs for equipment and accessories.
Moreover, to afford neurodiagnostic tests it is difficult for the patients without insurance. On average, patients without insurance spend more than USD 200 on an EEG test. Patients who require extended EEG monitoring might have to spend more than USD 2,500 if extended monitoring is required. Therefore, the high cost of EEG devices and processes is expected to impede the growth of the global EEG electrode market during the forecast period.
The EEG electrodes market forecast report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the EEG electrodes market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market forecasting and growth strategies.
Customer Landscape
The EEG electrodes market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Million " for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The market is experiencing growth, driven by advancements in Electroencephalography (EEG) devices and increasing adoption of transcranial stimulation (TMS) techniques. These electrodes play a vital role in measuring EEG brain wave activity, providing valuable insights into brain function. The market is also influenced by the development of innovative technologies such as the Perturbational Complexity Index (PCI) and the integration of neuroimaging techniques like functional magnetic resonance imaging and positron emission tomography (PET). Disposable EEG electrodes, featuring an adhesive surface and stainless steel wire, are gaining traction due to their hygienic benefits and ease of use. They are particularly valuable in hospital settings for monitoring brain activity in patients with mental health conditions. With the rise in disposable income levels and the focus on healthcare infrastructure, the market is expected to witness continued growth, with companies like Natus Medical Incorporated and Brain Scientific Inc leading the way with innovative products like the NeuroCap and NeuroEEG.
Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.78% |
Market growth 2024-2028 |
USD 105.4 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.23 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 41% |
Key countries |
US, Germany, UK, Japan, and Canada |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Ambu AS, BIOPAC Systems Inc., Cadwell Industries Inc., Compumedics Ltd., Conmed Corp., Dixi Medical, Johnson and Johnson Services Inc., Koninklijke Philips N.V., Medical Computer Systems Ltd., Medtronic Plc, Natus Medical Inc., Neuroelectrics Barcelona SLU, NeuroWave Systems Inc., Nihon Kohden Corp., PMT Corp., Rhythmlink International LLC, SOMNOmedics GmbH, SPES MEDICA SRL, Technomed, and Wuhan Greentek Pty. Ltd. |
Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period. |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Download Sample PDF at your Fingertips
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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