Report : EEG Machines Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Integrated EEG and Portable EEG), Application (Disease Diagnosis, Sleep Monitoring, Anesthesia Monitoring, Trauma and Surgery, and Others), and End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers, Research Laboratories, and Others), and Geography
Integrated EEG Segment to Drive EEG Machines Market During 2021–2028
According to The Insight Partners market research study titled “EEG Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End User,” the market is expected to reach US$ 1,937.00 million by 2028 from US$ 990.26 million in 2020. It is estimated to grow at a CAGR of 8.8% from 2021 to 2028. The report highlights the trends prevalent in the market and the factors driving the market along with those that act as deterrents to its growth.
Based on product type, the EEG machines market is segmented into integrated EEG and portable EEG. The integrated EEG segment held the largest share of the market in 2020, However, the portable EEG segment is anticipated to register the highest CAGR in the market during the forecast period. The growth of portable EEG segment can be attributed to the technological advancements that offer real-time brain activity, which is relatively inexpensive, and noninvasive.
The global EEG machines market is driven by growing product launches and increasing neurological disorders. However, the high cost and disadvantage of EEG machines are the key factors restraining the market growth.
Prominent players operating in EEG machines market include Koninklijke Philips N.V., Medtronic, Natus Medical Incorporated, Nihon Kohden Corporation, Fresenius SE & Co. KGaA, Advanced Brain Monitoring, D & DJ BURTON HOLDINGS, Cephalon A/S, Cadwell Industries Inc, and NeuroStyle Ptd. Ltd. The companies have implemented several inorganic and organic strategies to enhance the market value and maintain their position in the market. For instance, in July 2020, Transcranial magnetic stimulation tech developer Magstim announced that it has purchased the product portfolio of Electrical Geodesics from Royal Philips.
The report segments the global EEG machines market as follows:
By Product Type
By End User