EEG electrodes market size estimated to grow by USD 35.11 million from 2021 to 2026: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Feb. 9, 2023 /PRNewswire/ -- According to Technavio, the global EEG electrodes market size is projected to grow by USD 35.11 million from 2021 to 2026. The market is estimated to grow at a CAGR of 5.19% during the forecast period. Moreover, the growth momentum will accelerate. North America will account for 39% of the market's growth during the forecast period. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. For more insights on market size, request a sample report

EEG electrodes market - Five forces
The global EEG electrodes market is fragmented, and the five forces analysis covers– 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For an interpretation of Porter's five forces model – Buy the report!

EEG electrodes market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

EEG electrodes market - Segmentation assessment

Segment overview
Technavio has segmented the market based on product (disposable EEG electrodes and reusable EEG electrodes). 

• The disposable EEG electrodes segment will account for a significant share of the market's growth during the forecast period. Many end-users prefer disposable EEG electrodes over reusable EEG electrodes. This is because disposable EEG electrodes help in preventing infections. Moreover, disposable EEG electrodes do not need to undergo reprocessing between uses. Thus, the demand for disposable EEG electrodes in the market is increasing.

Geography overview
Based on geography, the global EEG electrodes market is segmented into North America, Europe, Asia, and ROW. The report provides actionable insights and estimates the contribution of all regions to the growth of the global EEG electrodes market.

• North America will account for 39% of the market's growth during the forecast period. The US is a key country for the EEG electrodes market in the region. However, market growth in this region will be slower than the growth of the market in other regions. The increasing incidence of neurological diseases will drive the EEG electrodes market growth in North America during the forecast period.

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EEG electrodes market – Market dynamics
Key factor driving market growth

• The increasing prevalence of neurological disorders is one of the key drivers in the EEG electrodes market.
• The use of EEG helps in the early detection of neurological disorders, understanding the severity of the disorder, and monitoring brain activities.
• According to the NIH, approximately 8.5% of the global population was aged 65 years and above in 2015. This population is at a high risk of developing mental and neurological disorders, which can be diagnosed or monitored with the help of EEG electrodes.
• In 2013, about five million people in the US had Alzheimer's disease, and the number is expected to rise to 14 million by 2050.
• Such factors are driving the EEG electrodes market growth.

Leading trends influencing the market 

• The rising popularity of hybrid brain-computer interface techniques is a key trend  in the market.
• A hybrid brain-computer interface (HBCI) has many benefits over single brain acquisition modalities.
• The hybridization of equipment increases the number of brain commands for control applications, enhances the classification accuracy of BCIs, and reduces signal detection time.
• Hybridization also provides more reliable information for control and rehabilitation applications for patients than single-modality BCI.
• Thus, the increasing demand for HBCI is expected to support the EEG electrodes market growth during the forecast period.

Major challenges hindering market growth

• The high cost of EEG devices and procedures is hindering the EEG electrodes market growth.
• Technological advances such as brain-computer interface (BCI) in EEG devices are expensive to install in hospitals and diagnostic laboratories.
• Moreover, EEG devices with advanced features and capabilities are expensive, which can affect their adoption in low and middle-income countries.
• Hence, the high cost of EEG devices and procedures will limit the EEG electrodes market growth during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this EEG electrodes market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the EEG electrodes market between 2022 and 2026
• Precise estimation of the size of the EEG electrodes market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the EEG Electrodes Market industry across North America, Europe, Asia, and ROW
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of EEG Electrodes Market vendors

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Table of contents

1. Executive Summary 

  1.1 Market Overview

  Exhibit 01:  Key Finding 1

  Exhibit 02:  Key Finding 2

  Exhibit 03:  Key Finding 3

  Exhibit 04:  Key Finding 5

  Exhibit 05:  Key Finding 6

  Exhibit 06:  Key Finding 7

  Exhibit 07:  Key Finding 8

2. Market Landscape 

  2.1 Market ecosystem 

  2.1.1  Parent market

  Exhibit 08:  Parent market

  Exhibit 09:  Market Characteristics

  2.2 Value chain analysis 

  Exhibit 10:  Value chain analysis: Healthcare Equipment

  2.2.1  Research and development

  2.2.2  Inputs

  2.2.3  Operations

  2.2.4  Distribution

  2.2.5  Marketing and sales

  2.2.6  Post-sales and services

  2.2.7  Industry innovations

3. Market Sizing 

  3.1 Market definition

  Exhibit 11:  Offerings of vendors included in the market definition

  3.2 Market segment analysis 

  Exhibit 12:  Market segments

  3.3 Market size 2021 

  3.4 Market outlook: Forecast for 2021 - 2026 

  3.4.1  Estimating growth rates for emerging and high-growth markets

  3.4.2  Estimating growth rates for mature markets

  Exhibit 13:  Global - Market size and forecast 2021 - 2026 ($ million)

  Exhibit 14:  Global market: Year-over-year growth 2021 - 2026 (%)

4. Five Forces Analysis 

  4.1 Five Forces Summary 

  Exhibit 15: Five forces analysis 2021 & 2026

  4.2 Bargaining power of buyers 

  Exhibit 16: Bargaining power of buyers

  4.3 Bargaining power of suppliers 

  Exhibit 17: Bargaining power of suppliers

  4.4 Threat of new entrants 

  Exhibit 18: Threat of new entrants

  4.5 Threat of substitutes 

  Exhibit 19: Threat of substitutes

  4.6 Threat of rivalry 

  Exhibit 20: Threat of rivalry

  4.7 Market condition

  Exhibit 21:  Market condition - Five forces 2021

5. Market Segmentation by Product 

  5.1 Market segments

  The segments covered in this chapter are:

• Disposable EEG electrodes
• Reusable EEG electrodes

  Exhibit 22:  Product - Market share 2021-2026 (%)

  5.2  Comparison by Product

  Exhibit 23:  Comparison by Product

  5.3  Disposable EEG electrodes - Market size and forecast 2021-2026

  Exhibit 24:  Disposable EEG electrodes - Market size and forecast 2021-2026 ($ million)

  Exhibit 25:  Disposable EEG electrodes - Year-over-year growth 2021-2026 (%)

  5.4  Reusable EEG electrodes - Market size and forecast 2021-2026 

  Exhibit 26:  Reusable EEG electrodes - Market size and forecast 2021-2026 ($ million)

  Exhibit 27:  Reusable EEG electrodes - Year-over-year growth 2021-2026 (%)

  5.5  Market opportunity by Product 

  Exhibit 28:  Market opportunity by Product

6. Customer landscape 

  6.1  Overview 

  Exhibit 29:  Customer landscape

7. Geographic Landscape 

  7.1 Geographic segmentation

  The regions covered in the report are:

• North America
• Europe
• Asia
• ROW

  Exhibit 30:  Market share by geography 2021-2026 (%)

  7.2 Geographic comparison 

  Exhibit 31:  Geographic comparison

  7.3  North America - Market size and forecast 2021-2026 

  Exhibit 32:  North America - Market size and forecast 2021-2026 ($ million)

  Exhibit 33:  North America - Year-over-year growth 2021-2026 (%)

  7.4  Europe - Market size and forecast 2021-2026 

  Exhibit 34:  Europe - Market size and forecast 2021-2026 ($ million)

  Exhibit 35:  Europe - Year-over-year growth 2021-2026 (%)

  7.5  Asia - Market size and forecast 2021-2026 

  Exhibit 36:  Asia - Market size and forecast 2021-2026 ($ million)

  Exhibit 37:  Asia - Year-over-year growth 2021-2026 (%)

  7.6  ROW - Market size and forecast 2021-2026 

  Exhibit 38:   ROW - Market size and forecast 2021-2026 ($ million)

  Exhibit 39:  ROW - Year-over-year growth 2021-2026 (%)

  7.7  Key leading countries 

  Exhibit 40:  Key leading countries

  7.8  Market opportunity by geography 

  Exhibit 41:  Market opportunity by geography ($ million)

8. Drivers, Challenges, and Trends 

  8.1 Market drivers 

  8.1.1  Increasing prevalence of neurological disorders

  8.1.2  Rising demand for EEG procedures

  8.1.3  Increasing initiatives and support from governments and healthcare organizations

  8.2 Market challenges 

  8.2.1  High cost of EEG devices and procedures

  8.2.2  Shortage of skilled professionals

  8.2.3  Intense competition among vendors leading to pricing pressures

  8.2.4  Limitations of EEG

  Exhibit 42:  Impact of drivers and challenges

  8.3 Market trends 

  8.3.1  Rising popularity of hybrid brain-computer interface techniques

  8.3.2  Focus of vendors on market penetration in emerging countries

  8.3.3  Rising demand for dry electrodes

  8.3.4  Increasing application of health informatics and monitoring solutions

9. Vendor Landscape 

  9.1  Overview 

  Exhibit 43:  Vendor landscape

  9.2  Landscape disruption 

  Exhibit 44:  Landscape disruption

  Exhibit 45:  Industry risks

  9.3  Competitive landscape 

10. Vendor Analysis 

  10.1 Vendors covered 

  Exhibit 46:  Vendors covered

  10.2 Market positioning of vendors 

  Exhibit 47:  Market positioning of vendors

  10.3  Ambu AS 

  Exhibit 48:  Ambu AS - Overview

  Exhibit 49:  Ambu AS - Business segments

  Exhibit 50:  Ambu AS - Key offerings

  Exhibit 51:  Ambu AS - Segment focus

  10.4  Dixi Medical 

  Exhibit 52:  Dixi Medical - Overview

  Exhibit 53:  Dixi Medical - Product and service

  Exhibit 54:  Dixi Medical - Key offerings

  10.5  Koninklijke Philips NV 

  Exhibit 55:  Koninklijke Philips NV - Overview

  Exhibit 56:  Koninklijke Philips NV - Business segments

  Exhibit 57:  Koninklijke Philips NV - Key offerings

  Exhibit 58:  Koninklijke Philips NV - Segment focus

  10.6  Medical Computer Systems Ltd.  

  Exhibit 59:  Medical Computer Systems Ltd.  - Overview

  Exhibit 60:  Medical Computer Systems Ltd.  - Product and service

  Exhibit 61:  Medical Computer Systems Ltd.  - Key offerings

  10.7  Neuroelectrics Barcelona SLU 

  Exhibit 62:  Neuroelectrics Barcelona SLU - Overview

  Exhibit 63:  Neuroelectrics Barcelona SLU - Product and service

  Exhibit 64:  Neuroelectrics Barcelona SLU - Key offerings

  10.8  NeuroWave Systems Inc. 

  Exhibit 65:  NeuroWave Systems Inc. - Overview

  Exhibit 66:  NeuroWave Systems Inc. - Product and service

  Exhibit 67:  NeuroWave Systems Inc. - Key offerings

  10.9  PMT Corp.

  Exhibit 68:  PMT Corp. - Overview

  Exhibit 69:  PMT Corp. - Product and service

  Exhibit 70:  PMT Corp. - Key offerings

  10.10  SOMNOmedics GmbH  

  Exhibit 71:  SOMNOmedics GmbH  - Overview

  Exhibit 72:  SOMNOmedics GmbH  - Product and service

  Exhibit 73:  SOMNOmedics GmbH  - Key offerings

  10.11  SPES MEDICA SRL  

  Exhibit 74:  SPES MEDICA SRL  - Overview

  Exhibit 75:  SPES MEDICA SRL  - Product and service

  Exhibit 76:  SPES MEDICA SRL  - Key offerings

  10.12  Technomed  

  Exhibit 77:  Technomed  - Overview

  Exhibit 78:  Technomed  - Product and service

  Exhibit 79:  Technomed  - Key offerings

11. Appendix 

  11.1 Scope of the report 

  11.1.1 ????Market definition

  11.1.2 Objective

  11.1.3 Notes and caveats

  11.2 Currency conversion rates for US$ 

  Exhibit 80:  Currency conversion rates for US$

  11.3 Research Methodology 

  Exhibit 81:  Research Methodology

  Exhibit 82:  Validation techniques employed for market sizing

  Exhibit 83:  Information sources

  11.4 List of abbreviations 

  Exhibit 84:  List of abbreviations

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