In a recently published report, Electroencephalography Equipment Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Electroencephalography Equipment Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Electroencephalography Equipment Market is valued at approximately USD 1.5 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 4.3% over the forecast period 2020-2027. Electroencephalography (EEG) devices have turned to be the most promising devices that are used to measure and monitor the electrical signals of the brain. The readings from an electroencephalography device are primarily used to diagnose various neurological disorders (e.g., Parkinson disease, epilepsy, and Alzheimer). Also, these devices help to monitor sleep disorders and patients under anesthesia. The equipment generally functions through electrodes that are connected to the scalp of the patient to accumulate the reading of the brain wave. The recent technology developments in the field of electroencephalography equipment create a robust demand from neurologists and neurosurgeons to precisely diagnose the brain disorders, thereby soaring the demand for EEG equipment market over the forecast period. Furthermore, the rise in patient population with neurological disorder, along with the increased government funding on R&D of neurological treatment are the few factors responsible for the high CAGR of the market during the forecast period.
According to the Alzheimer’s association, nearly 5.8 million of Americans are affecting with Alzheimer’s dementia in 2019 and this estimation will likely increase almost 14 million by 2050. As further, the survey of Alzheimer’s Society found that roughly 850,000 people are suffering from Alzheimer disease in the United Kingdom and is likely to rise over 1.0 million by 2025. This, in turn, is expected to strengthen the market growth all over the world. However, the availability of substitute, coupled with lack of skilled neurologists and neurosurgeons are the few major factors inhibiting the market growth over the forecast period of 2020-2027.
The regional analysis of the global Electroencephalography Equipment market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in number of R&D activities concerning the neurological disease treatment, and the presence of a significant number of equipment manufacturers in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in prevalence of Parkinson and Alzheimer’s disease along with the improving healthcare infrastructure in developing countries, such as China and India, would create lucrative growth prospects for the Electroencephalography Equipment market across the Asia-Pacific region.
Major market player included in this report are:
Advanced Brain Monitoring, Inc.
Cadwell Industries, Inc.
Fresenius SE & Co. KGaA
Koninklijke Philips N.V. (Philips Healthcare)
Natus Medical Incorporated
Neurostyle Pte Ltd.
Nihon Kohden Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Integrated EEG Systems
Portable EEG Systems
Trauma and Surgery
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Ambulatory Surgical Centers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Electroencephalography Equipment Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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