NEW
YORK, July 8, 2024 /PRNewswire/ -- The
global EEG electrodes market size is estimated to
grow by USD 105.4 million from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of 6.78% during the forecast period.
Increasing prevalence of neurological disorders is driving
market growth, with a trend towards rising popularity of
hybrid brain-computer interface techniques. However, high cost
of eeg devices and procedures poses a challenge. Key market
players include Ambu AS, BIOPAC Systems Inc., Cadwell Industries
Inc., Compumedics Ltd., Conmed Corp., Dixi Medical, Johnson and
Johnson Services Inc., Koninklijke Philips N.V., Medical Computer
Systems Ltd., Medtronic Plc, Natus Medical Inc., Neuroelectrics
Barcelona SLU, NeuroWave Systems Inc., Nihon Kohden Corp., PMT
Corp., Rhythmlink International LLC, SOMNOmedics GmbH, SPES MEDICA
SRL, Technomed, and Wuhan Greentek Pty. Ltd..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Product (Disposable EEG
electrodes and Reusable EEG electrodes), End-user (Hospitals,
Clinics, and Others), and Geography (North America, Europe, Asia,
and Rest of World (ROW))
|
Region
Covered
|
North America, Europe,
Asia, and Rest of World (ROW)
|
Key companies
profiled
|
Ambu AS, BIOPAC Systems
Inc., Cadwell Industries Inc., Compumedics Ltd., Conmed Corp., Dixi
Medical, Johnson and Johnson Services Inc., Koninklijke Philips
N.V., Medical Computer Systems Ltd., Medtronic Plc, Natus Medical
Inc., Neuroelectrics Barcelona SLU, NeuroWave Systems Inc., Nihon
Kohden Corp., PMT Corp., Rhythmlink International LLC, SOMNOmedics
GmbH, SPES MEDICA SRL, Technomed, and Wuhan Greentek Pty.
Ltd.
|
Key Market Trends Fueling Growth
The global EEG electrodes market is experiencing significant
growth due to the increasing demand for hybrid brain-computer
interfaces (HBCIs). HBCIs combine multiple brain imaging and
prosthesis control modalities, offering numerous advantages over
single modality systems. These benefits include an increased number
of brain commands for control applications, enhanced classification
accuracy, and reduced signal detection time. EEG is a widely used
modality in HBCIs due to its ease of use and fast temporal
resolution. Complementary modalities such as electrooculography
(EOG), electromyography (EMG), functional near-infrared
spectroscopy (fNIRS), magnetoencephalography (MEG), and eye
trackers are increasingly being integrated with EEG. Robust dry EEG
electrodes are essential for making EEG BCIs a practical
technology, and their development is expected to fuel the growth of
the global EEG electrodes market during the forecast
period.
The EEG electrode market is thriving due to the increasing
demand for medical devices used in brain monitoring for mental
health conditions and scientific research. Scalp-attached EEG
electrodes are the most common type, with repeatable use being a
trend. These electrodes read electrical impulses from the cerebral
cortex, providing valuable insights into brain activity. Reusable
stainless steel wire electrodes are being replaced by disposable,
thin, and flexible plastic alternatives with porous surfaces to
improve electrical connectivity and reduce cross-contamination.
Adhesive surfaces, gel, and foam dots ensure proper contact with
the scalp, while grids and tape help secure the electrodes during
hospital treatment. Technologically advanced devices are being
developed to monitor brain activity related to cognitive functions,
memory recall, and decision making, with applications in areas like
driver safety, fuel efficiency, and early diagnosis of conditions
like Parkinson's disease. The market is growing due to the
increasing disposable income levels and the need for hygienic
practices.
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Market Challenges
- The global EEG electrodes market growth may be hindered due to
the high cost of EEG devices. The expense of these devices varies
based on the number of channels, with 1-32 channel headsets priced
between USD1,000 and USD25,000, and those with over 64 channels
costing above USD25,000. Additional
costs include maintenance fees, instrument and accessory expenses,
data storage, technical maintenance, and the hiring of medical
professionals. Advanced EEG devices with brain-computer interface
technology are costly for hospitals and diagnostic laboratories to
install. Uninsured patients face significant financial burdens,
with an average EEG test costing over USD200, and extended monitoring reaching over
USD2,500. These high costs may limit
the adoption of EEG devices, particularly in low and middle-income
countries.
- The Electroencephalography (EEG) Electrodes Market is
experiencing significant growth due to the increasing prevalence of
neurological disorders such as Alzheimer's disease, Schizophrenia,
and Epilepsy. According to market research, the global market for
EEG devices is projected to expand at a dynamic rate in the coming
years. This growth can be attributed to the current trends in
neuroimaging techniques, Transcranial Stimulation (TMS), and the
rising geriatric population. For profit-oriented business
decisions, it is essential to understand the present position of
the market, key players, and global market trends. Market research
and quantitative analysis provide valuable insights into the
supplier-buyer network, regional analysis, and benchmarking. Major
players in the EEG devices industry include NeuroLogica
Corporation, Compumedics Limited, and Natus Medical Incorporated.
Market growth strategies include the development of advanced EEG
systems, such as Lecanemab, and collaboration with healthcare
professionals to cater to the needs of patients. The CDC's
prevention initiatives and the increasing awareness of neuroimaging
techniques are also driving the market. In conclusion, the EEG
Electrodes Market presents numerous opportunities for businesses,
and staying updated on global market trends and market players is
crucial for success.
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challenges - Download a Sample Report
Segment Overview
This eeg electrodes market report extensively covers market
segmentation by
- Product
- 1.1 Disposable EEG electrodes
- 1.2 Reusable EEG electrodes
- End-user
- 2.1 Hospitals
- 2.2 Clinics
- 2.3 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Disposable EEG electrodes- The EEG electrodes
market is experiencing steady growth due to increasing applications
in various industries. Neurotechnology firms and research
institutions are the key consumers, utilizing EEG electrodes for
brain-computer interface systems, neurological disorder diagnosis,
and neurofeedback therapy. Additionally, rising healthcare
expenditures and advancements in neuroscience research are driving
market expansion. Manufacturers focus on improving electrode
technology to enhance accuracy, comfort, and affordability.
For more information on market segmentation with
geographical analysis including forecast (2024-2028) and historic
data (2018 - 2022) - Download a Sample Report
Research Analysis
Electroencephalography (EEG) is a non-invasive diagnostic
technique used to assess the electrical activity of the brain. EEG
devices, which include EEG machines and disposable EEG electrodes,
are essential medical devices in the neurological field for
examining patients with various disorders, such as Alzheimer's
disease, schizophrenia, and other neurological conditions. The
geriatric population is a significant user group due to the higher
prevalence of neurological disorders in older adults. EEG
technology has evolved to offer advanced systems that improve the
accuracy and comfort of the examination, reducing
cross-contamination risks. Healthcare professionals use EEG systems
to read impulses from the scalp, providing valuable information for
diagnosis and treatment planning. Patients undergo a simple,
painless procedure involving the application of electrodes to the
scalp, which are connected to the EEG machine to record the brain's
electrical activity.
Market Research Overview
The Electroencephalography (EEG) Devices Market is witnessing
significant growth due to the increasing prevalence of neurological
disorders, particularly in the geriatric population. EEG technology
is used to examine the electrical activity of the brain through
impulses detected by electrodes placed on the scalp. These devices
are essential for diagnosing and monitoring various neurological
conditions, including Alzheimer's disease, Schizophrenia, Epilepsy,
Parkinson's disease, and other mental health disorders. EEG systems
use sensors, such as disposable or reusable EEG electrodes, made of
materials like stainless steel wire, adhesive surface, or foam
dots, to record brain activity. These electrodes can be attached to
the scalp with tape or gel to ensure electrical connectivity with
the brain. EEG devices are also used for scientific research,
cognitive functions assessment, and driver safety. Technologically
advanced devices are being developed to improve accuracy, reduce
cross-contamination, and offer low-cost, thin, and flexible
options. The EEG devices industry is expected to grow due to the
increasing prevalence of neurological disorders, the need for early
diagnosis, and the availability of disposable income levels.
Healthcare professionals and patients rely on EEG machines to
monitor brain activity and provide hospital treatment for various
neurological conditions. Neuroimaging techniques, such as
Transcranial Stimulation (TMS), are also used in conjunction with
EEG devices to enhance diagnosis and treatment. The CDC and other
health organizations focus on prevention and early diagnosis of
neurological disorders, further driving the demand for EEG devices.
Additionally, EEG devices are used for brain monitoring during
surgeries and other medical procedures. EEG electrodes are
available in various forms, including disposable, deep-cup, and
cup-electrode options, ensuring that healthcare professionals and
patients have access to the most suitable option for their needs.
The EEG devices industry is expected to continue growing due to the
increasing prevalence of neurological disorders and the need for
accurate and efficient brain monitoring and diagnosis.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Product
-
- Disposable EEG Electrodes
- Reusable EEG Electrodes
- End-user
-
- Geography
-
- North America
- Europe
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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