Magnetoencephalography Devices Market, by Application (Clinical Application, (Dementia, Autism, Schizophrenia, Multiple Sclerosis, Stroke, Epilepsy, Traumatic Brain Injury, Brain Tumor), and Research Applications), by End User (Hospitals, Imaging Centers,  and Academic & Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2026

  • Published On : Aug 2019 |
  • Pages : 174 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Magnetoencephalography Devices Market– insights

Magnetoencephalography (MEG) is a vital step in pre-surgical evaluation of patients with epilepsy and brain tumors. The clinical application segment includes diagnosis of conditions like epilepsy, dementia, schizophrenia, stroke, brain tumor, and others. In the diagnosis of epilepsy, MEG has proven to be an effective method as MEG tests have high sensitivity to small neuronal population in the neocortical region. According to data published by the National Center for Biotechnology Information (NCBI) in June 2017, over 30% of epileptic patients amenable to neurosurgical treatment require non-invasive brain imaging such as magnetoencephalography (MEG)

The global magnetoencephalography devices market size was valued at US$ 253.3 million in 2018, and is expected to witness a CAGR of 4.5% over the forecast period (2019 – 2026).

Global Magnetoencephalography Devices Market Share (%) Analysis, By Application, 2018

Magnetoencephalography  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Increasing technological advancements in MEG systems is expected to drive growth of the magnetoencephalography devices market

Key players in the market are focusing on product launches and technological innovations which is expected to drive the market growth. For instance, in 2017, 1.9 million collaborative projects between scientists at the University of Nottingham and University College London (UCL) is focusing on improving the way the human brain is mapped. Focusing on the development of magnetoencephalography (MEG), researchers have 3D printed a prototype helmet that may yield quadruple the sensitivity of current MEG devices

Magnetoencephalography devices market restraints

Increasing preference for magnetic resonance Imaging (MRI) scanning, computerized axial tomography (CT) scanning, and Positron emission tomography (PET) scanning which is expected to hamper the magnetoencephalography devices market growth over the forecast period. For instance, according to a research published in the Journal of the American Medical Association in March 2018, Japan had 52 MRI scanners and 107 scanners per 1 million people, respectively. The U.S. had the second highest number of MRI scanners (38), and the third highest number of CT scanners (41). Furthermore, the U.S. performed 118 MRIs per 1,000 people compared to other 11 countries of 82 MRI’s per 1,000 population.

Magnetoencephalography Devices Market- Regional Insights

On the basis of region, the global magnetoencephalography devices market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds a dominant position in the global magnetoencephalography market owing to presence of key players in the U.S. such as Advanced Brain Monitoring Inc., Cadwell Laboratories Inc., CAS Medical Systems, DePuy Synthes Companies, Electrical Geodesics, Inc., and HeadSense Medical, Inc. Among region, Europe accounts for the second largest market share owing to technological advancements in MEG. For instance, in November 2017, Leti, a France-based technology research institute, developed a next-generation MEG scanning system, wearable brain scanner or MEG helmet for improved diagnosis of epilepsy and brain tumor.

Asia Pacific is the fastest growing region in the magnetoencephalography market owing to increasing incidence of mental health disorders which requiring diagnosis and treatment. According to the World Health Organization’s (WHO) report, in 2016, China, India, Indonesia, Bangladesh, and Pakistan recorded the highest incidence of anxiety and depression.

Global Magnetoencephalography Devices Market Value (US$ Mn) & Y-o-Y Growth (%), 2016-2026

Magnetoencephalography  | Coherent Market Insights

Source: Coherent Market Insights Analysis (2019)

Magnetoencephalography Devices Market- Competitive Landscape

Key players operating in the global magnetoencephalography devices market include Compumedics Limited, Croton Healthcare, Ricoh Company, Ltd., and CTF MEG International Services LP.

Magnetoencephalography (MEG) is one of the medical neuroimaging techniques which tracks the brain activity by measuring the magnetic field produced by neurons in the brain. It is a non-invasive technique which is safe, radiation-free, and also can be used for the pediatric population MEG device consists of numerous and highly sensitive magnetometers called Superconducting Quantum Interface Device (SQUID). MEG tests can be used for diagnosing diseases such as Alzheimer’s disease, epilepsy, and brain tumors.

It also offers real-time resolution as it is capable of providing results in milliseconds and identifies the primary location of brain activation. A MEG device captures brain activity by detecting and amplifying magnetic signals produced by the brain, and it does not emit radiation or create magnetic fields in the surrounding

Market Dynamics

Increasing awareness and diagnosis of mental illness or brain injury is expected to boost growth of the global magnetoencephalography market over the forecast period. According to the National Institute of Mental Health (NIMH), in 2016, around 44.7 million people of 18 years of age and above in the U.S. suffered from mental health disorders, and around 19.2 million people were diagnosed and received treatment.

However, factors such as low availability of MEG devices is expected to hinder growth of the magnetoencephalography devices market over the forecast period. For instance, in 2015, the European MEG Society (EMEGS) surveyed 44 MEG centers in 10 different countries, of which only 12 centers were using MEG for clinical purpose. Furthermore, high cost and maintenance cost of MEG device is a barrier for adoption of MEG, as single MEG device costs around US$ 2 million to US$ 3 million.

Key features of the study:

  • This report provides in-depth analysis of the magnetoencephalography devices market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period, 2019 – 2026, considering 2018 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by leading players.
  • It profiles key players in the magnetoencephalography devices market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, strategies and key developments.
  • Key players covered as a part of this study include Compumedics Limited, Croton Healthcare, Ricoh Company, Ltd., and CTF MEG International Services LP
  • Insights from this report would allow marketers and management authorities of companies to make informed decisions with respect to future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
  • The magnetoencephalography devices market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, and suppliers for magnetoencephalography devices market, research and consulting firms, new entrants, and financial analysts

 Detailed Segmentation:

  • Global Magnetoencephalography Devices Market, by Application:
    • Clinical Applications
      • Dementia
      • Autism
      • Schizophrenia
      • Multiple Sclerosis
      • Stroke
      • Epilepsy
      • Traumatic Brain Injury
      • Brain Tumor
    • Research Applications
  • Global Magnetoencephalography Devices Market, by End User:
    • Hospitals
    • Imaging Centers
    • Academic & Research Institutes
  • Global Magnetoencephalography Devices Market, by Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
      • By Application:
        • Clinical Applications
          • Dementia
          • Autism
          • Schizophrenia
          • Multiple Sclerosis
          • Stroke
          • Epilepsy
          • Traumatic Brain Injury
          • Brain Tumor
        • Research Applications
      • By End User:
        • Hospitals
        • Imaging Centers
        • Academic & Research Institutes
  • Company Profiles
    • Merck & Co. Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Croton Healthcare
    • Ricoh Company, Ltd.
    • CTF MEG International Services LP

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Application
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Emerging Technologies
    • Recent Product Approvals/Launch
    • MEG versus EEG
    • PEST Analysis
  4. Global Magnetoencephalography Devices Market, By Application, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Clinical Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Dementia
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Autism
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Schizophrenia
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Multiple sclerosis
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Stroke
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Epilepsy
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Traumatic brain injury
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
      • Brain Tumor
        • Introduction
        • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
    • Research Applications
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
  5. Global Magnetoencephalography Devices Market, By End User, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Hospitals
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
    • Imaging Centers
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
    • Academic & Research Institutes
      • Introduction    
      • Market Size and Forecast, and Y-o-Y Growth, 2018 – 2026, (US$ Million)
  6. Global Magnetoencephalography Devices Market, By Region, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, By Region, 2017 – 2026
      • Regional Trends
    • North America
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2018 – 2026, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2018 – 2026, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2018 – 2026, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2018 – 2026, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country/Region, 2018 – 2026, (US$ Million)
        • North Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast, By Application, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By End User, 2018 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2018 – 2026, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
  7. Competitive Landscape
    • Company Profiles
      • Compumedics Limited
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Croton Healthcare
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Ricoh Company, Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • CTF MEG International Services LP
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
    • Analyst Views
  8. Section
    • References
    • Research Methodology         
    • About Us and Sales Contact 

*Browse 40 market data tables and 48 figures on "Magnetoencephalography Devices Market” - Global forecast to 2026”

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