Electroencephalographs Market – Analysis And Forecast (2017-2025): Market Shares And Strategies Of Key Players
Key players supporting the growth of electroencephalographs market
Manufactures are focusing on offering advanced features to electroencephalographs at affordable prices to gain a competitive edge in the market. Key players operating in the global electroencephalograph market include HEYER Medical AG, Medicom MTD, Draeger, Inc., Natus Medical Incorporated, Masimo, NeuroWave Systems Inc., Brain Products, elmiko medical, CamNtech Ltd, Danmeter, Neurosoft and MT MonitorTechnik GmbH & CO.KG.
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Electroencephalography is used to record electrical activity of the brain using electrophysiological monitoring method, which is typically a noninvasive method where electrodes are placed along the scalp. Electroencephalographs measures voltage fluctuations resulting from ionic current within the neurons of the brain over a period of time. Also called brain waves, neural oscillations are observed in electroencephalography. Electroencephalography is most often used in diagnosis of epilepsy, which is a neurological disorder. Furthermore, electroencephalographs are used to diagnose sleep disorders, encephalopathies, coma and brain death. Electroencephalography performs first line diagnosis of tumors, stroke and brain death disorders. Moreover, electroencephalographs are valuable tools for research diagnosis, especially when millisecond-range temporal resolution in required which is not possible with CT or MRI. Research in field of neuroscience, psychophysiological, neurolinguistics, cognitive psychology and cognitive science.
Furthermore, Alzheimer’s disease is also diagnosed by electroencephalograph, which is a disorder that affects the brain. Certain psychoses and sleep disorder called narcolepsy are also diagnosed by electroencephalographs. Electroencephalographs are also used to determine electrical activity of the brain overall is case of trauma, drug intoxication or extent of brain damage. Blood flow in brain during surgical process is also monitored by electroencephalographs.
Rising incidence of mental illness is expected to fuel the growth of electroencephalographs market in the near future
The rise in incidence of brain disorders such as Alzheimer’s disease, epilepsy and psychiatric illness has significantly increased the market of electroencephalographs. According to the annual report of Alzheimer’s Association (AA), it was estimated that 5.4 million people in the U.S. suffer from Alzheimer’s disease in 2012 and by 2050, it is estimated that between 11 million to 16 million people in the U.S. will suffer from Alzheimer’s disease, with one new case appearing every 33 seconds. Moreover, Alzheimer’s disease International showed that 35.6 million people suffered from Alzheimer’s disease worldwide in 2010. Moreover, according to WHO, published facts list updated on Feb 2017 50 million suffer from epilepsy which fuels the market of electroencephalographs. Furthermore, according to WHO, depression was the third-leading cause of disease burden worldwide, where mental and behavioral disorder contributed 7.4% and neurological disorder 3% in 2010 which determines the increase in market of electroencephalographs.
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Regional growth engines of electroencephalographs market
Mental illness is most prominently observed in the North America region. Around 1 in 5 adults in U.S. that is 43.8 million, or 18.5% suffered from some form of mental illness in 2015. This creates a highly conducive environment for growth of the electroencephalographs market in the country. Moreover, the incidence of mental illness has increased in Asia, especially in India and China. According to Journal of Indian Academy of Neurology, 70 million people were suffering from epilepsy worldwide, whereas India reported 12 million of people suffering from epilepsy which contributed one-sixth of the global burden in the year 2014. The European region also offers a huge market for electroencephalographs due to rise in awareness of neurological disorders and increase in purchasing power.
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