Global Electroencephalography Market – Monitoring Functions of Brain
Electroencephalography, commonly termed as EEG, refers to a physiological method of choice that facilitates recording of electrical activity generated by the brain from electrodes placed on the surface of the scalp. The EEG measures electrical activity generated by the synchronized activity of thousands of neurons that helps to analyze the activated areas of brain at a particular instance. The EEG also acts as a helpful measure to diagnose various neurological disorders such as Alzheimer’s disease, dementia, epilepsy, autism by determining the malfunction produced in the normal electrical signal pattern. The neurons in the brain generate electrical impulses that fluctuate in a rhythmic and distinct pattern. The accuracy and price differences in the electroencephalography devices available in the market depends on the number of electrodes that are present in the crown of the EEG system. Systems with high number of electrodes provides high quality digitalization, better quality amplification, and higher number of snapshots taken by device per second as compared to systems with few electrodes. Electroencephalography can also be used as an important tool in assessment of patients suspected with brain death. EEG waveforms report immediate signals to remove the brain in case of transplantation and storage of the dead brain.
The global electroencephalography devices market was valued at US$ 704.4 million in 2016 and is expected to witness a robust CAGR of 7.0% over the forecast period (2017–2025).
Figure 1. Global Electroencephalography devices Market Value (US$ Mn), by Region, 2017
Factors such as increasing prevalence of neurological disorders and technological advancements in EEG systems due to product innovation is expected to significantly contribute to growth of the electroencephalography devices market. According to the Lancet 2014, neurological disorders is one of the most important cause of disability and mortality worldwide. Electroencephalography devices have wide application in neuro-diagnostic procedures and remote brain monitoring for several diseases and medical conditions. For instance, according to the Centers of Disease Control & Prevention (CDC), traumatic brain injury led to around 2.8 million emergency department visits, deaths, and hospitalizations in the U.S., in 2013. According to the World Health Organization, 2016, over 50 million people across the globe suffer from epilepsy, whereas around 47.5 million people suffered with dementia and around 7.7 million new cases are reported each year. Moreover, Need for brain mapping and brain function monitoring in critical conditions is increasing and therefore, technological advancements are being implemented in the design of Electroencephalography systems. For instance, in September 2016, BrainScope Company, Inc. received FDA clearance for the first handheld medical device named ‘BrainScope One’ for assessment of the full spectrum of Traumatic Brain Injury (TBI) that was developed in partnership with U.S. department of defense, offering clinicians a comprehensive panel of data to assist in their diagnosis of the full spectrum of TBI. However, high costs associated with the advanced EEG acquisition systems makes these systems unaffordable for medical settings in the emerging and rural areas due to low medical expenditure budget and is thus responsible for hindering the market growth.
Among region, North America holds the dominant position in the global electroencephalography devices market. This is attributed to rapid development and launch of novel EEG devices and systems by key players in the market. For instance, in October 2015, Brain Products GmbH, a U.S.-based company introduced LiveAmp, an ultra-lightweight wearable amplifier that allows the users to store data internally without any mobility limitations. U.S.-based manufacturers are also incorporating Artificial Intelligence (AI) technology in their devices so as to make the systems smarter and reduce expertise requirement for their operation. For instance, in March 2017, EEG Enterprises introduced Lexi, a new cloud hosted service that connects the company’s existing EEG workflows with speech recognition technology.
Asia Pacific is expected to exhibit highest growth over the forecast period, owing to the increasing number of Asia-based companies entering into the international markets is expected to enhance the regional growth. For instance, in November 2017, Nihon Kohden Corporation, Japan-based medical device company, started a new sales branch in Kenya with an aim to expand its sales in the East Africa, as a part of its strategic business expansion. Moreover, the authorities in countries are easing regulations and guidelines of medical devices to increase the export of devices from the region, is in turn, boosting market growth. For instance, in January 2013, Japanese government officially declared easing of regulations and manufacturing guidelines for medical equipment to leverage the medical companies for increasing their production scales and invent revolutionary medical devices that can be valued significantly in the international markets.
Market players are engaged in innovative product launches to sustain their position in the global electroencephalography devices market
Key players in the market are focused on expansion of their presence through launch of new product lines in emerging economies. For instance, in September 2016, BrainScope Company, Inc. received FDA clearance for the first handheld medical device for the assessment of full spectrum of traumatic brain injury. This device was developed in partnership with the U.S. department of defense, to offer a comprehensive panel of data to clinicians that would assist in the diagnosis of the full spectrum of TBI. Moreover, in October 2015, Brain Products GmbH conducted official market launch of LiveAmp, an ultra-lightweight, wireless wearable amplifier that allows internal data storage without any mobility limitations. The system serves to be an ideal brain activity analyzer for applications in sports injuries, sleep state monitoring, and cognitive research.
Key players operating the global electroencephalography devices market include Natus Medical, Inc., BrainScope Company, Inc., Medtronic Plc, NeuroWave Systems, Inc., Compumedics Limited, Electrical Geodesics, Inc., Cadwell Industries, Inc., Jorden Neuroscience, Inc., and others.
Electroencephalography is one of the most commonly employed techniques used for recording electrical activity generated by the human brain. EEG devices are often used as a first line method of diagnosis of various neurological disorders such as strokes, tumors, and coma. The process of electroencephalography is typically non-invasive, involving placement of multiple electrodes on the scalp to measures voltage fluctuations arising from ionic current induced by the neurons of the brain. According to American Association of Electro-diagnostic Medicine 2012, between 10 and 25 million EEG tests are performed per year in the U.S.
Electroencephalography devices are used in a wide range of medical applications, including mental retardation, sleep disorders, tumors, epilepsy, strokes, and brain damages. This in turn, is increasing the number of diagnostic and treatment monitoring procedures across the world, thus augmenting growth of the global electroencephalography devices market. For instance, according to the World Health Organization, 2018, epilepsy is one of the most common chronic neurological disorders affecting around 50 million people across the world. Moreover, according to the National Institute of Neurological Disorders & Stroke, 2016, around 795,000 people suffer from stroke each year in the U.S., which increases the demand for hospital admission for remote neuro-monitoring. However, the high cost and complex functioning of these devices make them unaffordable and non-feasible to be used at small medical set-ups, thus causing a hindrance to the market growth.
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