EEG Devices Market to Grow at a CAGR of 7.5% to reach US$ 1,699.52 million from 2021 to 2028

EEG Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (8-channel EEG, 21-channel EEG, 25-channel EEG, 32-channel EEG, 40-channel EEG, Multi-channel EEG); Application (Sleep Disorders, Neuroscience, Head Trauma, Brain Tumors, Others); Device Type (Standalone Devices, Portable Devices); End User (Hospitals & Clinics, Diagnostic Centers, Academic & Research Institutes, Research Centers), and Geography.

Publication Month : Jul 2021

  • Report Code : TIPRE00007528
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 196
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The EEG devices market is projected to reach US$ 1,699.52 million by 2028 from US$ 1,025.92 million in 2021; it is expected to grow at a CAGR of 7.5% from 2021 to 2028.  

Electroencephalography (EEG) is the study of electrical brain action along with the scalp. With the help of multiple electrodes placed on the head, the EEG equipment examines voltage fluctuations resulting from ionic current flows in the brain's neurons. EEG is among the most stable and predicative pointers when analyzing human cognition, evaluating a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy. Moreover, the device is used to identify sleep disorders, coma, anesthesia, encephalopathies, and brain death. The device is utilized for the diagnosis of tumors, stroke, and other brain ailments.

The EEG devices market is segmented based on product, device type, application, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of competitive landscape of the globally leading market players.          

Lucrative Regions for EEG Devices Market

Lucrative Regions for EEG Devices Market
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Market Insights

Growing Incidence of Neurovascular Disorders Drives EEG Devices Market

Neurological diseases are the diseases of the spine, brain, and nerves that connect them. The neurovascular systems are highly dependent on the continuous supply of oxygen and nutrients, which has been supplied by the arteries and veins. The amount of oxygen and nutrients to the brain is essential for its working; therefore, a defect in the system can impair the function, and it may quickly become a life-threatening factor. The neurovascular diseases include hemorrhage stroke, ischemic stroke, and brain tumors. Genetic disorders, lifestyle habits, and related chronic conditions may cause the development of neurovascular diseases. During the last few years, the predominance of neurological disorders has increased significantly. For instance, epilepsy is one of the neurovascular diseases that is rising significantly across the globe. The rising cases of brain tumors worldwide is the primary factor for the EEG devices market growth. For instance, as per the data of Lancet Neurol 2019; 18: 376–93, approximately 329,673 cases of brain and central nervous system (CNS) cancer were reported globally in 2016. The most regular type of essential CNS cancer is Glioma, which is a group of malignant brain tumors that includes high-grade Glioma or glioblastoma and low-grade Glioma (astrocytoma, oligodendroglioma). Epilepsy is a non-communicable disease of the brain that affects people of every age group. According to data from the World Health Organization (WHO), in 2019, around 50 million people across the globe had epilepsy, which makes it one of the most common neurological diseases worldwide. Approximately 80% of people with epilepsy are living in low- and middle-income nations. The projected ratio of the overall population with active is between 4 and 10 per 1,000 people.

Moreover, data from World Health Organization (WHO) stated that in 2010, the total number of people with dementia across the globe was reported at 35.6 million and is anticipated to nearly double every 20 years, to 65.7 million in 2030 and around 115.4 million in 2050. The new cases of dementia per year across the globe are approximately 7.7 million, implying one new case every four seconds. The majority of the increase will be in emerging nations, the fastest growth in the aging population in China, India, and their south Asian and western Pacific neighbors. Thus, it is anticipated that the increasing prevalence of neurovascular diseases is likely to fuel the growth of the market during the forecast period.

Significantly Rising Elderly Population Contributes Significantly to Market Growth

The aging population is defined as a group of people aged 65 and over. The growth of the aging population is poised to become one of the most significant social transformations of the twenty-first century. The geriatric population has been rising significantly worldwide. As per the data of the United Nations, in 2017, there were around 962 million people aging 60 or above worldwide, which contained 13% of the population globally. The geriatric population is projected to grow at a rate of 3% per year.

At present, Europe and Asia Pacific have the highest population aged 60 years and above. The number of the aging population in the world is projected to reach around 1.4 billion in 2030, and it will reach about 2.1 billion by 2050 and is expected to reach up to 3.1 billion by 2100. The elderly population has been linked with various chronic diseases due to problems related to it. Neurological disorders are most commonly observed in older adults, affecting between 5% and 55% of people aged 55 years and above. They are associated with a high risk for adverse health outcomes, such as mortality, disability, institutionalization, and hospitalization. Mental and neurological disorders in elderly adults’ report 6.6% of the total disability (disability adjusted life years-DALYs) for this age group. Roughly, 15% of adults aged 60 and above have a mental disorder. The most common mental and neurological disorders observed in the geriatric population are dementia and depression, which affect approximately 5% and 7% of the world’s older population, respectively. Therefore, due to increase in geriatric population and surge in associated neurological disorders, the market for EEG devices is anticipated to witness significant growth.

Product Insights               

Based on product, the global EEG devices market is segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, multi-channel EEG, 21-channel EEG, and 8-channel EEG. In 2020, the 32-channel EEG segment held the largest share of the market. However, the multi-channel EEG segment is expected to register the highest CAGR during 2021–2028. High-tech development in 32-channel EEG products and increased implementation of these products by healthcare professionals are the major factors driving the segment. The market for the segment is anticipated to grow in the future, owing to the increasing use of these devices to treat neurological diseases.

Application Insights                     

Based on application, the global EEG devices market is segmented into brain tumors, head trauma, sleep disorders, neuroscience, and others. In 2020, the brain tumors segment held the largest share of the market; however, the head trauma segment is expected to grow at the highest CAGR during 2021–2028. The growth of the brain tumors segment can be attributed to factors such as the rising prevalence of brain tumors, growing awareness about neurological disorders, and increasing availability of advanced EEG products. Thus, the increase in brain tumor cases has created more demand for EEG devices in the health care market.

Device Type Insights                    

Based on device type, the global EEG devices market is segmented into standalone devices and portable devices. In 2020, the standalone devices segment held the larger share of the market. However, the portable devices segment is expected to register the higher CAGR during 2021–2028. The standalone devices are the most commonly used type of EEGs. The high application of these devices in critical care is a crucial factor contributing to their growth. Therefore, owing to all the aforementioned factors, standalone devices is likely to grow in the coming years.

End User Insights

Based on end user, the EEG devices market is segmented into hospitals & clinics, diagnostic centers, research centers, and academic & research institutes. The hospitals & clinics segment held the largest market share in 2020; however, the diagnostic centers segment is expected to be the largest shareholder in the market by 2028. Hospitals are the most significant entities that have all the facilities available in the organization. Hospitals also provide various diagnostics and treatment facilities that can be reimbursed under insurance claims. Furthermore, the rise in prevalence of neurological disorders is driving the hospitals & clinics segment.

EEG Devices Market, by Product – 2021 and 2028

EEG Devices Market, by Product – 2021 and 2028
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EEG Devices Market: Strategic Insights

eeg-devices-market
Market Size Value inUS$ 1,025.92 Million in 2021
Market Size Value byUS$ 1,699.52 Million by 2028
Growth rateCAGR of 7.5% from 2021-2028
Forecast Period2021-2028
Base Year2021
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Product launches, and mergers and acquisitions are the highly adopted strategies by the players operating in the global EEG devices market. A few of the recent key product developments are listed below:

In March 2020, EMOTIV introduced a brand new 14-channel mobile brainwear EPOC X on its 10th Anniversary. The product launch has further enabled neuroscience research in different contexts with an updated sustainable design.

In February 2020, ANT Neuro appointed Braintrends Ltd as its official distributor of EEG and navigated TMS product lines. Braintrends will distribute EEGo, waveguard, and visor2 product lines and support for these products in Italy.

The COVID-19 pandemic has had a mixed impact on the EEG devices market. Due to the rapid spread of the disease, many cities were on a lockdown, causing treatments and doctors/surgeons appointment cancellations. The patients in the need of critical surgeries such as spinal surgery, neurosurgery, and ENT surgery need physical presence and need to implement procedures in the clinics. The procedures include intraoperative neuromonitoring by systems, services, and accessories. Moreover, companies are also focused on manufacturing COVID-19 diagnostics and related products. For instance, in June 2020, Ceribell Inc.—a Mountain View, California-based startup—deployed its cloud-linked, portable electroencephalogram (EEG) device to enable EEG assessments in minutes in emergency rooms and intensive care units. The rapid response EEG system is used in the Montefiore Health System in New York and at Northwell Health’s North Shore University Hospital, which are the health care providers at the epicenter of the US COVID-19 crisis. 

EEG Devices – Market Segmentation

The report segments the global EEG devices market by product, application, device type, end user, and geography. Based on product, the EEG devices market is segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, multi-channel EEG, 21-channel EEG, and 8-channel EEG. In terms of application, the market is segmented into brain tumors, head trauma, sleep disorders, neuroscience, and others. Based on device type, the market is segmented into standalone devices and portable devices. Based on end user, the market is segmented into hospitals & clinics, diagnostic centers, research centers, and academic & research institutes. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America.

Company Profiles

  • Brain Products GmbH
  • g.tec medical engineering GmbH
  • Cognionics, Inc.
  • Wearable Sensing
  • Neuroelectrics
  • ANT Neuro
  • Mitsar Co. Ltd.
  • Neurosky
  • Biosemi
  • Advanced Brain Monitoring, Inc.
  • EMOTIV
  • MUSE
  • Koninklijke Philips N.V.
  • Bitbrain Technologies
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product ; Application ; Device Type ; End User , and Geography.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, RoMEA, RoSCAM, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are the driving factors for the EEG devices market across the globe?

Key factors driving the growth of the market are growing incidences of neurovascular disorders and significantly rising elderly population are boosting the market. However, high cost of EEG devices is likely to hinder the market’s growth.

Which are the key players in the EEG devices market?

Key players in the market are Brain Products GmbH, g.tec medical engineering GmbH, Cognionics, Inc., Wearable Sensing, Neuroelectrics, ANT Neuro, Mitsar Co. Ltd., Neurosky, Biosemi, Advanced Brain Monitoring, Inc., EMOTIV, MUSE, Koninklijke Philips N.V., and Bitbrain Technologies among others.

What are EEG devices?

Electroencephalography (EEG) is the study of electrical brain action along with the scalp. With the help of multiple electrodes placed on the head, the EEG equipment examines voltage fluctuations resulting from ionic current flows in the brain's neurons. EEG is among the most stable and predicative pointers when analyzing human cognition, evaluating a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy. And also, the device is used to identify sleep disorders, coma, anesthesia, encephalopathies, and brain death. The device is utilized for the diagnosis of tumors, stroke, and other brain ailments.

What is the regional market scenario of EEG devices?

Global EEG devices market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North American region holds the largest market share of the market, whereas the Asia Pacific region is the fastest-growing region. The growth factors that are contributing to market’s growth in the North American region are growing developments in the medical devices industry, increasing domestic production in countries such as Canada and Mexico, growing incidences of neurovascular disorders in recent years, technological advancements, and rising elderly population.

What are the report segments in the global EEG devices market?

The report segments the global EEG devices market are by product, application, device type, end user, and geography: The EEG devices market on the basis of product is further segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, multi-channel EEG, 21-channel EEG, and 8-channel EEG. Based on the application is segmented into brain tumors, head trauma, sleep disorders, neuroscience, and others. Based on device type, is segmented into standalone devices and portable devices. Based on the end user is sgmeneted into hospitals & clinics, diagnostic centers, research centers, and academic & research institutes, and by geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South and Central America.

What are the future trends in the global EEG devices market?

As several market players are engaged in designing and manufacturing uniquely engineered EEG devices that are used in neurological disease diagnosis. Technological developments in EEG devices is future trend in the global EEG devices market.

The List of Companies - EEG Devices Market

  1. Brain Products GmbH
  2. g.tec medical engineering GmbH
  3. Cognionics, Inc.
  4. Wearable Sensing
  5. Neuroelectrics
  6. ANT Neuro
  7. Mitsar Co. Ltd.
  8. Neurosky
  9. Biosemi
  10. Advanced Brain Monitoring, Inc.
  11. EMOTIV
  12. MUSE
  13. Koninklijke Philips N.V.
  14. Bitbrain Technologies

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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