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The neurophysiology devices and equipment market consist of sales of neurophysiology devices and equipment and related services. Most prevalent monitoring techniques under this market are Electroencephalography (EEG), electromyography/electroneurography (EMG/ENG) and the recording of evoked potentials (EP). These equipment and techniques are helpful in dealing with different functions of the nervous system such as spinal cord & peripheral nerve dysfunction brain alterations and nerve damage.
Global Neurophysiology Devices And Equipment Market Size And Drivers:
The global neurophysiology devices and equipment market is expected to grow from $1.30 billion in 2020 to $1.40 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The neurophysiology devices and equipment market is expected to reach $1.75 billion in 2025 at a CAGR of 5.7%. The major factor responsible for the growth of neurophysiology device and equipment market is the increasing prevalence of neurological disorders, worldwide. Neurological disorders are identified as one of the most prevalent disorders out of all the recurring ailments.
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Trends In The Global Neurophysiology Devices And Equipment Market
Companies in the neurophysiology devices and equipment market are investing in advancement of technology to increase the efficiency of these devices. There have been plenty of innovations in the brain monitoring devices, for instance, EEG monitoring, Brain Simulation therapies and Intraoperative Neurophysiological monitoring. New technological innovations are enabling the development of devices which are integrating or adopting processes such as advanced neuroimaging techniques, stem cell therapies, and molecular interventions and microbiome technologies. There is also a trend of portable and wearable device technology assisting in home-based monitoring for ailments such as epilepsy and sleep apnea. For example, Smart Monitor, in 2019 developed SmartWatches called Embrace to monitor symptoms of epilepsy and instantly send alerts to the caregivers and family members of the patient, if any abnormal pattern is noticed in his body. This technology also helps in improving the safety and treatment of users.
Global Neurophysiology Devices And Equipment Market Segments:
The global neurophysiology devices and equipment market is further segmented –
By Technology: Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECoG), Evoked potential (EP)
By End Users: Hospitals, Ambulatory Surgical Centers
By Modality: Standalone, Portable
By Geography: The global neurophysiology devices and equipment market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Neurophysiology Devices And Equipment Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides neurophysiology devices and equipment market overviews, analyzes and forecasts market size and growth for the global neurophysiology devices and equipment market, neurophysiology devices and equipment market share, neurophysiology devices and equipment market players, neurophysiology devices and equipment market segments and geographies, neurophysiology devices and equipment market’s leading competitors’ revenues, profiles and market shares. The neurophysiology devices and equipment market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
