Neurodiagnostic and Monitoring Devices Market in US by Product and End-user - Forecast and Analysis 2021-2025

  • Published: Nov 2021
  • Pages: 120
  • SKU: IRTNTR40602
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The neurodiagnostic and monitoring devices market share in the US is expected to increase by USD 595.30 million from 2020 to 2025, and the market’s growth momentum will decelerate at a CAGR of 5.35%.

This neurodiagnostic and monitoring devices market research report of US provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers neurodiagnostic and monitoring devices market segmentation in the US by product (ICP monitoring devices, EEG devices, EMG devices, and others) and end-user (hospitals, clinics, and laboratories). The neurodiagnostic and monitoring devices market report of US also offers information on several market vendors, including Advanced Brain Monitoring Inc., Cadwell Industries Inc., Compumedics Ltd., General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Natus Medical Inc., Nihon Kohden Corp., and Viasonix Ltd among others.

What will the Neurodiagnostic and Monitoring Devices Market Size in US be During the Forecast Period?

Download the Free Report Sample to Unlock the Neurodiagnostic and Monitoring Devices Market Size in US for the Forecast Period and Other Important Statistics

 

Neurodiagnostic and Monitoring Devices Market in US: Key Drivers and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing incidences and prevalence of neurological conditions are notably driving the neurodiagnostic and monitoring devices market growth in the US, although factors such as high costs associated with neurodiagnostic and monitoring devices may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the neurodiagnostic and monitoring devices industry in the US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Neurodiagnostic and Monitoring Devices Market Driver in US

One of the key factors driving growth in the neurodiagnostic and monitoring devices market in the US is the increasing incidences and prevalence of neurological conditions. Patients with a comprehensive range of neurological disorders, including epilepsy, stroke, Parkinson’s disease, and brain tumors, have a high risk of developing a disability. These neurological disorders develop due to various factors such as bacterial and viral infections, genetic factors, and the lack of immune response. Healthcare professionals use neurodiagnostic and monitoring devices such as EEG, EMG, MEG, and ICP to diagnose neurological diseases for further interventions to save the life of the patients. Factors such as the increasing incidence and prevalence of various neurological diseases and the growing demand for treating diseases to save the lives of the patients will contribute to the growth of the neurodiagnostic and monitoring devices market in the US. Furthermore, the treatment of brain hemorrhage, which can occur due to stroke and brain tumors, is boosting the demand for neurodiagnostic and monitoring devices market in the US.

Key Neurodiagnostic and Monitoring Devices Market Challenge in US

The costs of neurodiagnostic procedures and devices are very high. The total cost of a neurodiagnostic procedure depends on the cost of the devices, cost of the procedure, and fees of the healthcare professionals performing the procedure. The shelf life of the devices depends on the maintenance of the devices. The need for the maintenance of neurodiagnostic devices and their accessories creates a burden on the end-user facilities and hinders their adoption. The high cost of intracranial pressure monitoring systems and surgical procedures has adversely impacted the adoption of intracranial pressure monitoring systems. Therefore, the high cost of neurodiagnostic devices and procedures may hamper the growth of the neurodiagnostic and monitoring devices market in the US during the forecast period.

This neurodiagnostic and monitoring devices market in the US analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Neurodiagnostic and Monitoring Devices Market Vendors in US?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Advanced Brain Monitoring Inc.
  • Cadwell Industries Inc.
  • Compumedics Ltd.
  • General Electric Co.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • Natus Medical Inc.
  • Nihon Kohden Corp.
  • Viasonix Ltd

 

This statistical study of the neurodiagnostic and monitoring devices market in US encompasses successful business strategies deployed by the key vendors. The neurodiagnostic and monitoring devices market in US is fragmented and the vendors are deploying growth strategies such as focusing on mergers and acquisitions to enhance their product portfolios to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The neurodiagnostic and monitoring devices market forecast report of US offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

What are the Revenue-generating Product Segments in the Neurodiagnostic and Monitoring Devices Market in US?

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The neurodiagnostic and monitoring devices market share growth in the US by the ICP monitoring devices segment will be significant during the forecast period. Factors such as the growing number of traumatic brain injury (TBI) and brain tumor cases, the rising number of product launches, and the increasing presence of vendors are boosting the adoption of ICP devices in the market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the neurodiagnostic and monitoring devices market size in US and actionable market insights on post COVID-19 impact on each segment.

 

Neurodiagnostic and Monitoring Devices Market Scope in US

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 5.35%

Market growth 2021-2025

$ 595.30 million

Market structure

Fragmented

YoY growth (%)

6.44

Regional analysis

US

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Advanced Brain Monitoring Inc., Cadwell Industries Inc., Compumedics Ltd., General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Natus Medical Inc., Nihon Kohden Corp., and Viasonix Ltd

Market dynamics

Parent market analysis, 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 the forecast period

Customization purview

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What are the Key Data Covered in this Neurodiagnostic and Monitoring Devices Market Report of US?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive neurodiagnostic and monitoring devices market growth in US during the next five years
  • Precise estimation of the neurodiagnostic and monitoring devices market size in US and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of neurodiagnostic and monitoring devices market vendors in US 

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2020
    • Market outlook: Forecast for 2020 - 2025

    Five Forces Analysis

    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Product

    • Market segments
    • Comparison by Product
    • ICP monitoring devices - Market size and forecast 2020-2025
    • EEG devices - Market size and forecast 2020-2025
    • EMG devices - Market size and forecast 2020-2025
    • Others - Market size and forecast 2020-2025
    • Market opportunity by Product

    Market Segmentation by End-user

    • Market segments
    • Comparison by End-user
    • Hospitals - Market size and forecast 2020-2025
    • Clinics - Market size and forecast 2020-2025
    • Laboratories - Market size and forecast 2020-2025
    • Market opportunity by End-user

    Customer landscape

    • Market drivers
    • Market challenges
    • Market trends

    Vendor Landscape

    • Overview
    • Landscape disruption

    Vendor Analysis

    • Vendors covered
    • Market positioning of vendors
    • Advanced Brain Monitoring Inc.
    • Cadwell Industries Inc.
    • Compumedics Ltd.
    • General Electric Co.
    • Koninklijke Philips NV
    • Masimo Corp.
    • Medtronic Plc
    • Natus Medical Inc.
    • Nihon Kohden Corp.
    • Viasonix Ltd

    Appendix

    • Scope of the report
    • Currency conversion rates for US$
    • Research methodology
    • List of abbreviations

    Research Framework

    Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

    TechnavioINFORMATION SOURCES

    Primary sources

    • Manufacturers and suppliers
    • Channel partners
    • Industry experts
    • Strategic decision makers

    Secondary sources

    • Industry journals and periodicals
    • Government data
    • Financial reports of key industry players
    • Historical data
    • Press releases
    Technavio

    TechnavioDATA ANALYSIS

    Data Synthesis

    • Collation of data
    • Estimation of key figures
    • Analysis of derived insights

    Data Validation

    • Triangulation with data models
    • Reference against proprietary databases
    • Corroboration with industry experts
    Technavio

    TechnavioREPORT WRITING

    Qualitative

    • Market drivers
    • Market challenges
    • Market trends
    • Five forces analysis

    Quantitative

    • Market size and forecast
    • Market segmentation
    • Geographical insights
    • Competitive landscape
    Interested in this report?
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    The neurodiagnostic and monitoring devices market growth will increase by $595.30 million during 2020-2025.
    The neurodiagnostic and monitoring devices market is expected to grow at a CAGR of 5.35% during 2020-2025.
    Technavio has segmented the neurodiagnostic and monitoring devices market by product (ICP monitoring devices, EEG devices, EMG devices, and Others) ,end user (Hospitals, Clinics, and Laboratories) , and geographic (North America).
    Advanced Brain Monitoring Inc., Cadwell Industries Inc., Compumedics Ltd., General Electric Co., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Natus Medical Inc., Nihon Kohden Corp., Viasonix Ltd are a few of the key vendors in the neurodiagnostic and monitoring devices market.
    North America will register the highest growth rate of 100.00% among the other regions. Therefore, the neurodiagnostic and monitoring devices market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
    The key factors driving the neurodiagnostic and monitoring devices market growth are:
    • Increasing incidences and prevalence of neurological conditions
    The neurodiagnostic and monitoring devices market vendors should focus on grabbing business opportunities from the icp monitoring devices segment as it accounted for the largest market share in the base year.
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