LONDON, Feb. 15, 2016 /PRNewswire/ -- The new report "Global Neurodiagnostic and Monitoring Devices Market Assessment & Forecast: 2015-2019" by Spearhead Acuity Business Research & Consulting group provides in-depth insight into the global neurodiagnostic and monitoring devices market.
The neurodiagnostic and neuromonitoring devices market is highly fragmented in case of several product segments such as electroencephalography and transcranial Doppler and oximeters. There are multiple manufacturers in North America and Europe; however, there are countless more manufacturers of these devices in Asia-Pacific. It is estimated that over 20 million people suffer from epilepsy in the Asia-Pacific region. The largest technology driven product segment is the magnetoencephalography devices (MEG). MEG signals were first recorded in 1968 by David Cohen using copper induction coil as detector.
The geographical analysis of the neurophysiological monitoring devices market is segregated into six regions of North America, Europe, Asia-Pacific, Latin America, Middle-East and Africa. North America led the market with a share of 44.0% in 2014, which is expected to get eroded as emerging economies such as Brazil, India, China, Middle-East and parts of South-East Asia increase their stakes. It is expected that Asia-Pacific region which currently (2014) accounts for a share of 16.7% will increase to 18.3% by 2019. Continued investment in healthcare by government and increasing number of hospitals along with neurospecialty clinics has continued driving the growth of these devices. Another factor contributing to the growth is the high level of awareness in sleep diagnostics. Several devices such as magnetoencephalography (MEG) are currently in use mostly in United States and parts of Europe, which makes the country the highest user.
This report provides analysis on various product types such as Electroencephalograph (EEG), Magnetoencephalograph (MEG), Intracranial Pressure Monitors, Transcranial Cerebral Oximeters (TCCOs) and Transcranial Dopplers. Electroencephalography is the technique of recording spontaneous electrical activity of the brain over short periods of time. The device is capable of mapping the electrical activity for neurology diagnostics, particularly for diseases such epilepsy, brain disorders such as dementia, encephalopathy, sleep disorders, tumors and stroke. The MEG is more accurate than an EEG due to reduced effect of skin and tissue interference in magnetic fields, a characteristic that is encouraging the growth of the market. That being said, the device is several times more expensive than an EEG system and hence has a severe drawback for growth of sales. The MEG device can cost anywhere between US$ 4.5 million to US$ 6.5 million over the world with an annual maintenance cost of approximately US$ 150,000, which makes it an extremely expensive device. Currently there are approximately 80 MEG systems across the globe.
Due to the advent of wearable medical devices, the greatest shifting trend is observed in the commercialization and commoditization of EEG devices. Manufacturers such as Emotiv and Neurosky are introducing disruptive devices that can be used and interpreted easily by a user which is increasing awareness of neurological disorders at an unprecedented level. This will bring about a large demand for EEG devices in the near future. SA-BRC sees strong potential in four product areas that are commoditization of EEG as a wearable device, magnetoencephalography and expanding applications, non-invasive intra-cranial pressure monitoring and transcranial Doppler.
Download the full report: https://www.reportbuyer.com/product/3605156/
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers