EEG, EMG and Evoked Potential Devices Market Size, Share, Growth, and Industry Analysis, By Type (Electroencephalography (EEG), Electromyography (EMG) and Evoked Potential Devices), By Application (Hospitals, Ambulatory Surgical Centers (ASCs), Specialty Clinics, Others), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

EEG, EMG and Evoked Potential Devices Market REPORT OVERVIEW

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The global EEG, EMG and evoked potential devices market size was USD 1163.7 million in 2021 and will touch USD 1828.6 million by 2031, at CAGR of 4.6% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the Global EEG, EMG and Evoked Potential Devices Market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

A brain issue can be identified using an electroencephalogram (EEG), which also shows how the brain is active during a seizure. EEG tests persons who have brain conditions include coma, confusion, tumours, issues with thinking and memory, and weakness of particular body parts. When muscles are at rest or in contraction, their electrical activity is measured by electromyography (EMG). The electrodes used in an EMG aid in the transmission and detection of electrical impulses. Evoked Various central nervous system (CNS) illnesses can be clinically diagnosed using potential equipment.

COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market

The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.

LATEST TRENDS

"Growth of the market in recent years"

A brain issue can be identified using an electroencephalogram (EEG), which also shows how the brain is active during a seizure. EEG tests persons who have brain conditions include coma, confusion, tumours, issues with thinking and memory, and weakness of particular body parts. When muscles are at rest or in contraction, their electrical activity is measured by electromyography (EMG). The electrodes used in an EMG aid in the transmission and detection of electrical impulses. Evoked Various central nervous system (CNS) illnesses can be clinically diagnosed using potential equipment.

EEG, EMG and Evoked Potential Devices Market SEGMENTATION

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• By Type

Based on type the Global EEG, EMG and Evoked Potential Devices Market is classified Electroencephalography (EEG), Electromyography (EMG) and Evoked Potential Devices.

• By Application

Based on application the Global EEG, EMG and Evoked Potential Devices Market is classified as Hospitals, Ambulatory Surgical Centers (ASCs), Specialty Clinics, Others.

DRIVING FACTORS

"The Utilization as a Catalyst to Boost the Market Growth "

The need for EEG, EMG, and evoked potential equipment is being driven by the rise in neurological illnesses such multiple sclerosis, Parkinson's disease, and epilepsy. The diagnosis, observation, and management of these illnesses all depend heavily on these technologies. Continuous improvements to electrode designs, wireless communication, and miniaturisation have increased the use and accuracy of EEG, EMG, and evoked potential equipment. The adoption of these devices in clinical settings is being influenced by these technological advancements. The study of brain function and neuromuscular problems is a focus of increasing amounts of neuroscience research.

"Extensive Application in Laundering Process to Multiply the Production and Market Growth"

Neurological problems and conditions affecting the muscles are more common in the elderly population. The demand for EEG, EMG, and evoked potential devices is anticipated to increase as the world's elderly population grows since these tools help with the diagnosis and treatment of age-related neurological diseases. As a result, there is now more demand for these gadgets in research settings. Devices for recording brain activity using EEG, EMG, and evoked potentials offer important insights into how the brain works and aid scientists in understanding the mechanisms underlying neurological diseases.

RESTRAINING FACTORS

"Several Challenges Associated with the Local Irritation to Restrain the Market"

It takes specialized expertise and training to use and interpret EEG, EMG, and evoked potential devices. However, a lack of qualified personnel in some areas can impede the efficient use of these devices and limit their adoption. various nations and healthcare systems have various EEG, EMG, and evoked potential procedure reimbursement rules. Healthcare providers may be deterred from purchasing these devices by inadequate reimbursement coverage or restrictive rules, which might influence their adoption rates. The use of EEG and evoked potential equipment to record brain activity raises ethical questions about patient confidentiality, data security, and informed consent. The implementation of these devices in some situations may be impacted by these worries over patient acceptance.

EEG, EMG and Evoked Potential Devices Market REGIONAL INSIGHTS

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"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"

In Europe, the markets for EEG, EMG, and Evoked Potential devices are dominated by Germany, Italy, the U.K., and France. However, the market for EEG, EMG, and Evoked Potential devices is predicted to increase rapidly in Asia during the next five years. This is because numerous businesses have built RandD facilities in the area. The market for EEG, EMG, and Evoked Potential equipment is expanding in the area as a result of rising awareness of various neurological illnesses. The markets in Asia for EEG, EMG, and Evoked Potential devices are anticipated to expand at the quickest rates in Japan, China, and India.

KEY INDUSTRY PLAYERS

"Financial Players to Contribute Towards Expansion of Market"

This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.

List of Market Players Profiled

• Cadwell Laboratories (US)
• Compumedics (Australia)
• EB Neuro S.P.A. (Italy)
• Electrical Geodesics (US)
• Lifelines Neurodiagnostic Systems (US)
• Natus Medical (US)
• NeuroWave Systems (US)
• Nihon Kohden (Japan)
• Nihon Kohden America (US)
• Noraxon (US)

REPORT COVERAGE

The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.