The global electroencephalography devices market to grow at a CAGR of 9.54% during the period 2017-2021.
The report, Global Electroencephalography Devices Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is increasing focus on digitized EEG devices. The cognitive ability of an individual is extremely important to perform the day-to-day activity. In recent years, there has been increased awareness regarding brain health and is considered as an important healthcare area that requires immediate medical support in case of any brain dysfunction such as mental illness, sleep disorder, and neurological disorder.
According to the report, one driver in the market is growing demand for EEG. EEG devices are the common diagnostic devices for medical conditions such as epilepsy, TBI, Alzheimer's disease, and dementia. The increasing prevalence of these diseases raises the demand for EEG devices in various healthcare centers such as hospitals, ASCs, neurological centers, clinics, and diagnostic laboratories. EEG device is one of the prominent diagnostic instrument to measure brain dysfunction and plays a significant role in monitoring and diagnosing individuals suffering from seizure disorders like epilepsy.
Further, the report states that one challenge in the market is high cost of neurodiagnostic procedures. The incidence of various neurological diseases is on rising hence, the use of EEG device has increased subsequently over the years. However, for complex medical conditions, the need for sophisticated and technologically advanced EEG device demand high-cost medical procedures that increase the overall economic burden on the individual and caretaker. Usually, EEG test costs approximately $200-$700. However, the cost may rise to $3,000 in an individual with complex medical complications and who require extended monitoring suggested by the physician.