Some of the key findings from our neurodiagnostic and monitoring devices market forecast report are summarized below
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Global Neurodiagnostic and Monitoring Devices Industry Overview
Market vendors are increasingly integrating health informatics solutions with neurodiagnostic and monitoring devices to provide enhanced medical diagnosis and disease analysis for procedures such as EEG, EMG, and transcranial doppler (TCD). The adoption of health informatics solutions will allow clinicians to remotely monitor a patient’s vital signs from multiple devices, including EEG devices, cerebral or somatic oximeters, and pulse oximeters. The rising amount of data generated during neurological research has also boosted the demand for neuroinformatic systems. These systems use computational models and analytical tools to organize neuroscience-related data efficiently. With rising digitization of information, applications of advanced technologies, such as health informatics and monitoring solutions, in neurodiagnostic and monitoring devices will also grow. Therefore, growing applications of health informatics and monitoring solutions is one of the key neurodiagnostic and monitoring devices market trends. This trend is expected to fuel the growth of the market during the next five years.
The rising prevalence of neurological disorders has increased the demand for EEG and EMG procedures. Long-term EEG is highly effective for prognostic identification of significant EEG patterns and accurate diagnosis of seizures and non-seizure paroxysmal events. Video EEG is also highly popular for the diagnosis of psychogenic nonepileptic seizures (PNES). Moreover, vital information, such as amplitude, duration, and engagement of motor units; type and severity of muscle disease; and the likelihood of muscles becoming inflamed, can be obtained from EMG tests. As a result, EMG tests have been proven ideal for evaluating muscle activity and contraction. Moreover, EEG and EMG devices are recording expanded applications in cognitive health and well-being, sleep quality improvement, and stress reduction. The growing demand for EEG and EMG procedures will significantly drive the neurodiagnostic and monitoring devices market growth at over 8% CAGR during the forecast period.
Top Neurodiagnostic and Monitoring Devices Companies Covered in this Market Research Report
The global neurodiagnostic and monitoring devices market is fragmented. To help clients improve their market positions, this report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this neurodiagnostic and monitoring devices market research report also includes information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make most of the upcoming growth opportunities.
The report offers a detailed analysis of several leading neurodiagnostic and monitoring device manufacturers, including:
- Compumedics Ltd.
- Koninklijke Philips NV
- Medtronic Plc
- Natus Medical Inc.
- Nihon Kohden Corp.
Neurodiagnostic and Monitoring Devices Market Segmentation Based on Product
- Electroencephalogram (EEG) devices
- Intracranial pressure (ICP) devices
- Electromyography (EMG) devices
- Others
The EEG devices segment will account for the highest neurodiagnostic and monitoring devices market share. The increasing prevalence of neurological disorders, rising demand for EEG monitoring in home-care settings, growing awareness about technologically advanced EEG devices, and augmenting number of EEG examinations are a few of the factors responsible for neurodiagnostic and monitoring devices market growth in this segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the neurodiagnostic and monitoring devices market size.
Neurodiagnostic and Monitoring Devices Market Segmentation Based on Geographic Region
- Asia
- Europe
- North America
- ROW
With a complete study of the growth opportunities for the companies, it has been identified that North America will account for the highest share of the neurodiagnostic and monitoring devices market throughout the forecast period. Factors such as high healthcare expenditure, high prevalence of neurological diseases, rising geriatric population, and rising adoption of technologically advanced neurodiagnostic and monitoring devices are contributing to the growth of the market in North America.
Key Highlights of the Global Neurodiagnostic and Monitoring Devices Market for the Forecast Years 2019-2023:
- CAGR of the market during the forecast period 2019-2023
- Detailed information on factors that will accelerate the growth of the neurodiagnostic and monitoring devices market during the next five years
- Precise estimation of the global neurodiagnostic and monitoring devices market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the neurodiagnostic and monitoring devices industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details of factors that will challenge the growth of neurodiagnostic and monitoring devices companies
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