Electromyography Devices Market to Reach $1.6 Billion, Globally, by 2031 at 7.9% CAGR: Allied Market Research

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Jan 10, 2023, 03:50 ET

PORTLAND, Ore., Jan. 10, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Electromyography Devices Market by Product (Stationary EMG Systems, Portable EMG Systems), by Study Type (Nerve Conduction, Needle electrode examination (NEE)), by End-User (Clinics, Hospitals, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global electromyography devices industry generated $786.0 million in 2021, and is anticipated to generate $1.6 billion by 2031, witnessing a CAGR of 7.9% from 2022 to 2031.

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Prime determinants of growth

The improved healthcare infrastructure, increase in unmet healthcare needs, rise in prevalence of neuromuscular diseases, and surge in demand for electromyography devices drive the growth of the global electromyography devices market. However, high cost of these devices restricts the market growth. Moreover, growth & innovations in the pharmaceutical industry for the manufacturing of electromyography devices owing to a massive pool of health-conscious consumers creates an opportunity for the electromyography devices market in the coming years.

Covid-19 Scenario

· The outbreak of the Covid-19 pandemic had a positive impact on the global electromyography devices market, owing to a significant rise in demand for electromyography devices during the lockdown.

· In addition, the rise in awareness regarding supply chain hindrance of pharmaceutical products and medical devices in companies and governments had driven the growth of the electromyography devices market in 2020.

The stationary EMG systems segment to maintain its leadership status throughout the forecast period

Based on product, the stationary EMG systems segment held the highest market share in 2021, accounting for around four-fifths of the global electromyography devices market, and is estimated to maintain its leadership status throughout the forecast period. In addition, the same segment is projected to manifest the highest CAGR of 8.2% from 2022 to 2031, owing to an increase in the prevalence of neuromuscular diseases, high adoption of stationary EMG systems for the diagnosis of neurovascular diseases, and increase in technological advancements in stationary EMG systems.

The nerve conduction segment to maintain its leadership status throughout the forecast period

Based on study type, the nerve conduction segment held the highest market share in 2021, accounting for more than three-fifths of the global electromyography devices market, and is estimated to maintain its leadership status throughout the forecast period. In addition, the same segment is projected to manifest the highest CAGR of 9.1% from 2022 to 2031, owing to a rise in the prevalence of neurological and muscular disorders, an increase in investment in research studies, and an increase in the use of nerve conduction studies.

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The clinics segment to grow at the fastest pace during the forecast period

Based on end user, the hospital segment accounted for the largest share in 2021, contributing to nearly two-fifths of the global electromyography devices market, owing to an increase in patient admission in hospitals, and the availability of trained medical staff in hospitals that help provide better services to patients. However, the clinics segment is expected to portray the largest CAGR of 9.3% from 2022 to 2031, owing to an increase in the geriatric population that is more prone to neuromuscular disease, and an increase in the number of Alzheimer's and Parkinson's diseases.

North America to maintain its dominance by 2031

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global electromyography devices market, and is likely to dominate the market during the forecast period, owing to the presence of electromyography device manufacturing companies in the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 8.5% from 2022 to 2031, owing to rise in contract manufacturing organizations in the region as well as growth in the purchasing power of populated countries, such as China and India.

Leading Market Players: -

AD Instruments,
IDscan Biometrics Ltd.,
CADWELL INDUSTRIES INC,
CLARITY MEDICAL PVT. LTD,
COMETA SRL,
Compumedics limited - official,
Medtronic plc,
Natus Medical Incorporated,
NIHON KOHDEN CORPORATION,
NORAXON USA INC

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