Neurodiagnostic and Monitoring Devices Market in the US by Product - Forecast and Analysis 2020-2024

  • Published: Dec 2019
  • Pages: 130
  • SKU: IRTNTR40602
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The neurodiagnostic and monitoring devices market size in the US has the potential to grow by USD 443.81 million during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period.

This report provides a detailed analysis of the market by product (ICP monitoring devices, EEG devices, EMG devices, and others). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Cadwell Industries Inc., Compumedics Ltd., Koninklijke Philips NV, Masimo Corp., Medtronic Plc, Natus Medical Inc., and Nihon Kohden Corp.

What will be the Neurodiagnostic and Monitoring Devices Market Size in the US in 2020?

Neurodiagnostic-and-Monitoring-Devices-Market-Size-in-the-US

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

The market is fragmented, and the degree of fragmentation will decrease during the forecast period. The key players in the market are focusing on various inorganic growth strategies, including mergers and acquisitions, divestitures, joint ventures, and partnerships, to expand the geographical reach and gain major market shares and revenue. Masimo Corp., Medtronic Plc, Natus Medical Inc., and Nihon Kohden Corp. are a few of the major market participants. Although the accelerating growth momentum will offer immense business opportunities, high costs associated with neurodiagnostic and monitoring devices will challenge the growth of market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this neurodiagnostic and monitoring devices market forecast in the US report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this neurodiagnostic and monitoring devices market analysis in the US report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading neurodiagnostic and monitoring devices companies in the US, including:

  • Cadwell Industries Inc.
  • Compumedics Ltd.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • Natus Medical Inc.
  • Nihon Kohden Corp.

What are the Major Product Segments in the Neurodiagnostic and Monitoring Devices Market in the US?

Neurodiagnostic-and-Monitoring-Devices-Market-Share-in-the-US-by-Product

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The growing number of traumatic brain injury and brain tumor cases, rising number of product launches, and the increasing presence of vendors are boosting the adoption of ICP devices. Moreover, ICP monitoring can be done by performing invasive and non-invasive techniques, which are widely accepted for TBI intracerebral hemorrhage, cerebral edema, and encephalopathy conditions. Vendors are leveraging business opportunities and are improving in-built technologies in their products, which will increase sales of ICP monitoring devices further.

Market growth by the ICP monitoring devices segment will be slower than the growth of the market by the EEG devices 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 in the US.

How will Neurological Conditions Influence Neurodiagnostic and Monitoring Devices Market Growth in the US?

The incidence rate of neurological conditions such as epilepsy, stroke, Parkinson’s disease, and brain tumors is increasing, especially among the growing geriatric population. Healthcare professionals use neurodiagnostic and monitoring devices such as EEG, EMG, MEG, and ICP to diagnose neurological conditions. Early diagnosis and treatment are highly preferred to avoid the risk of death and disability in patients with neurological disorders. Since these conditions could be fatal, the need for early diagnosis and treatment is increasing, which is one of the key neurodiagnostic and monitoring devices market growth drivers in the US. The rising demand is further encouraging vendors to launch new products with advanced features.

  • The demand for non-invasive, hybrid brain-computer interface (HBCI) technologies has increased owing to the need for enhancing and improving the accuracy of neurodiagnostic procedures.
  • EEG is a widely accepted and majorly performed procedure for diagnosing neurological conditions, which is one of the key neurodiagnostic and monitoring devices market trends in the US.
  • Other modalities such as EMG and PSG are used in combination with EEG to enhance the number of control commands, improve accuracy, and minimize the signal detection time.
  • HBCI generally combines with one or more brain-computer interface (BCI) signals or human-machine interface (HMI) biosignals, which helps in improving customer satisfaction and boosting system performance.
  • During 2020-2024, the market will grow at a CAGR of over 7%.

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

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will accelerate the neurodiagnostic and monitoring devices market growth in the US during the next five years
  • Precise estimation of the neurodiagnostic and monitoring devices market size in the US 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 the US
  • 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 vendors  

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PART 01: EXECUTIVE SUMMARY

PART 02: SCOPE OF THE REPORT

  • 2.1 Preface
  • 2.2 Preface
  • 2.3 Currency conversion rates for US$

PART 03: MARKET LANDSCAPE

  • Market ecosystem
  • Market characteristics
  • Value chain analysis
  • Market segmentation analysis

PART 04: MARKET SIZING

  • Market definition
  • Market sizing 2019
  • Market size and forecast 2019-2024
  • Market outlook

PART 05: FIVE FORCES ANALYSIS

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

PART 06: MARKET SEGMENTATION BY PRODUCT

  • Market segmentation by product
  • Comparison by product
  • ICP monitoring devices - Market size and forecast 2019-2024
  • EEG devices - Market size and forecast 2019-2024
  • EMG devices - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by product

PART 07: CUSTOMER LANDSCAPE

PART 08: DECISION FRAMEWORK

PART 09: DRIVERS AND CHALLENGES

  • Market drivers
  • Market challenges

PART 10: MARKET TRENDS

  • Technological advances
  • Initiatives to promote neurodiagnostic and monitoring devices
  • Paradigm shift toward hybrid brain-computer interface

PART 11: VENDOR LANDSCAPE

  • Overview
  • Landscape disruption
  • Competitive scenario

PART 12: VENDOR ANALYSIS

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Cadwell Industries Inc.
  • Compumedics Ltd.
  • Koninklijke Philips NV
  • Masimo Corp.
  • Medtronic Plc
  • Natus Medical Inc.
  • Nihon Kohden Corp.

PART 13: APPENDIX

  • Research methodology
  • List of abbreviations
  • Definition of market positioning of vendors

PART 14: EXPLORE TECHNAVIO

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
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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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