Electroencephalograph (EEG) Systems Market

Electroencephalograph Systems Market Size: 

The electroencephalograph systems market size reached US$ 1.32 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.60 Billion by 2032, exhibiting a growth rate (CAGR) of 7.5% during 2024-2032. The factors driving the global electroencephalograph systems market include the rising prevalence of neurological disorders, significant technological advancements in EEG devices, and growing awareness of mental health conditions. Additionally, the demand for minimally invasive diagnostics and the increased healthcare expenditure further propel the market growth.

Electroencephalograph Systems Market Analysis:

• Major Market Drivers: Some of the major drivers for the electroencephalograph (EEG) systems market include increasing prevalence of neurological disorders, rising demand for minimally invasive diagnostics, rapid technological advancements in EEG devices, and the enhancing awareness among people and medical professionals regarding mental health conditions.
• Key Market Trends: The market is experiencing significant trends such as the development of portable and wireless systems, the integration of artificial intelligence (AI) for enhanced data capabilities, the rising demand for EEG in neurology and cognitive neuroscience research, and an improving focus on real-time monitoring.
• Geographical Trends: The electroencephalograph systems market exhibits robust growth in North America due to advanced healthcare infrastructure. Asia Pacific is rapidly emerging with increasing healthcare spending and technological adoption. On the other hand, Europe remains strong, driven by extensive research activities and healthcare policies supporting neurological disorder management.
• Competitive Landscape: Some of the major market players in the electroencephalograph systems industry include Natus Medical, inc., Nihon Kohden Corporation, Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., Cephalon A/S, Compumedics Limited, Electrical Geodesics, Inc, General Electric Company (GE Healthcare), Medtronic, and Koninklijke Philips N.V. (Philips Healthcare), among many others.
• Challenges and Opportunities: The EEG market faces challenges like high equipment costs and a lack of trained professionals. Opportunities lie in technological advancements such as cloud-based EEG solutions and miniaturized devices. Growing prevalence of neurological disorders and expanding applications in diagnostics and treatment monitoring also present significant growth avenues.
   

Electroencephalograph Systems Market Drivers:

Increasing Prevalence of Neurological Disorders

The rising prevalence of neurological disorders such as Alzeihmer’s disease, epilepsy, Parkinson’s disease, and sleep disorders is a significant driver for the electroencephalograph systems market. EEG is crucial tool for diagnosing and monitoring these conditions, leading for increased demand for EEG systems in clinical settings. For instance, a recent study published by The Lancet Neurology reveals that over 3 billion individuals globally were affected by neurological conditions in 2021. The World Health Organization (WHO) aided in examining the data from the Global Burden of Disease, Injuries, and Risk Factor Study (GBD) 2021.

Expanding Applications

EEG systems are increasingly used beyond clinical settings. They are also employed in research, brain-computer interface development, sports performance monitoring, neurofeedback training, and consumer applications like gaming and sleep tracking. For instance, in August 2023, researchers from the Yang Loo Lin School of Medicine and the Centre for Sleep and Cognition, in collaboration with Oura Health, analyzed nights of 50 million anonymized sleep data, contributed by over 220,000 users of the Oura Ring, a consumer sleep tracker, from across 35 countries. The analysis discovered that Asians report worse sleep than their counterparts in Europe and North America.

Rising Aging Population

The rising aging population is a key growth driver for the EEG systems market because older adults are more susceptible to neurological disorders such as Alzheimer's, Parkinson's, and dementia, which often require diagnostic and monitoring tools like EEG. As the global population ages, the incidence of these conditions increases, driving the demand for EEG systems to aid in accurate diagnosis and continuous monitoring. For instance, an estimated 67 million Americans age 65 years and older are living with Alzeimer’s dementia currently. This number could grow to 13.8 million by 2060 given the medical development breakthroughs to prevent, slow, or cure AD. Additionally, EEG plays a crucial role in understanding brain activity patterns related to aging, helping healthcare providers develop targeted treatments. Therefore, the growing number of elderly individuals directly correlates with an expanded need for EEG technology in healthcare settings.

Electroencephalograph Systems Market Opportunities:

Regulatory Support

Favorable regulatory policies and advancements in medical device standards are crucial drivers for the growth of the electroencephalograph (EEG) systems market. These regulations ensure the safety, efficacy, and quality of EEG products, facilitating market expansion. Several instances highlight this trend, such as GE Healthcare's FDA clearance for its imaging technology in 2019, Compumedics Limited's FDA approval for its MEG and EEG signal assessment device in 2020, and Brain Scientific's clearance for its NeuroCap EEG Headset in 2022. Additionally, in 2021, NeuroWave Systems Inc. received FDA clearance for its brain function monitor, and Philips secured FDA approval for its MRI system in 2022. These approvals are complemented by government initiatives that support the development of advanced, invasive devices, further stimulating the brain monitoring market. Such regulatory support, coupled with technological innovations and government backing, contributes significantly to the sector's growth.

Standardization and Data Security

Promoting standardization of EGG data formats and prioritizing robust cybersecurity measures to ensure patient data privacy and facilitate data sharing for research is acting as a growth-inducing factor. Recent developments in securing EEG data include advanced encryption methods, blockchain technology for tamper-proof storage, and real-time anomaly detection systems to identify unauthorized access. These enhancements are crucial for protecting sensitive neurological information against cyber threats and ensuring the privacy and integrity of EEG data. For instance, in December 2023, Nihon Kohden introduced the One View function of their Neuromaster G1 intraoperative neuromonitoring (IONM) system. The new technology incorporates extensive neurological data into the IONM software while smoothly integrating patient anesthetic and vital signs, including temperature, heart rate, SpO2, and more.

Increasing Research and Development Activities

There’s ongoing research and development (R&D) in EGG technology to improve signal quality, sensor designs, signal processing algorithms, and data analysis techniques to enhance the performance and reliability of EEG systems. For instance, in January 2022, the Cleveland Clinic in the USA launched a brain study aimed at diagnosing and preventing neurological diseases before symptoms occur. This new study collected data from up to 200,000 neurologically healthy individuals over 20 years to identify brain disease biomarkers and targets for preventing and curing neurological disorders. Similarly, in 2023, the National Institutes of Health (NIH), US Government, issued a funding opportunity announcement (FOA) encouraging investigators to pursue first-in-human or early-stage clinical studies for next-generation invasive devices.

Key Technological Trends & Development:

Advancements in Wireless Connectivity

Advancements in wireless technology within the EEG system market have led to the development of lightweight, portable EEG devices that facilitate real-time brain activity monitoring without restricting patient mobility. These innovations enhance patient comfort and expand usage in various settings, including home-based care. Additionally, wireless EEG systems improve data transmission efficiency and support remote diagnostics. For instance, in March 2022, Brain.space, an Israel-based company, developed a wireless EEG device that provides superior readings to traditional ones and can be set up without expert help. Moreover, the aireeg wireless EEG system developed by Nihon Kohden offers genuine wireless technology combines with superior signal quality and high sampling rates up to 4,000 Hz. It also features video capabilities, real-time access to EEG waveforms, smart connection technology, robust security features, and advanced clinical tools.

Real-Time EGG Waveform Access

Advancements in real-time monitoring technology in the EEG system market have significantly improved diagnostics and patient care. These systems now offer higher resolution, faster processing speeds, and enhanced data accuracy, enabling continuous tracking of brain activity. Innovations include cloud integration for data accessibility and machine learning algorithms for predictive analytics, vastly expanding their application in both clinical and research settings. For instance, in May 2021, Inspira Medical Centers Mullica Hill and Vineland, part of Inspira Health, launched the Ceribell Rapid Response EEG monitoring device. This ground-breaking technology helps identify and diagnose non-convulsive seizure activity in critically ill patients, ensuring that they receive the best care possible as soon as possible.

Advent of BCIs

The development of EEG-based brain-computer interface (BCI) offers opportunities in assistive technology, rehabilitation, and communication for individuals with disabilities. For instance, in April 2024, engineers from the University of Texas at Austin developed a universal brain-computer interface (BCI) that operates without user-specific calibration, enhancing its clinical viability. Similarly, in March 2022, the researchers at the University of California - San Diego created a BCI with a flexible backing and microneedles that adapt to brain contours for high-resolution recordings. Additionally, the University of Southern California team in 2021 employed generative adversarial networks to generate synthetic brain activity, improving BCI accessibility for individuals with disabilities. Such advancements are aiding the growth of the electroencephalograph systems market.

Electroencephalograph Systems Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, modality, application, and end user.

Breakup by Type:

• EEG Equipment
• EEG Accessories
   

EEG equipment accounts for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the type. This includes EEG equipment and accessories. According to the report, EEG equipment represented the largest segment.
EEG equipment dominates the electroencephalograph systems market primarily due to its critical role in diagnosing and monitoring neurological conditions such as epilepsy, sleep disorders, and brain tumors. These devices provide detailed insights into brain activity, facilitating timely and accurate clinical assessments. Technological advancements have further enhanced their capabilities, introducing features like high-resolution imaging and real-time data analysis, which improve diagnostic accuracy. Additionally, the growing prevalence of neurological disorders globally increases the demand for effective diagnostic tools, thus reinforcing the dominance of EEG equipment in the market.

Breakup by Modality:

• Portable
• Standalone
   

Standalone represents the leading market segment 

The report has provided a detailed breakup and analysis of the market based on the modality. This includes portable and standalone. According to the report, standalone represented the largest segment.
Standalone electroencephalograph (EEG) systems are dominating the market due to their robust features and extensive functionality, which cater to diverse clinical needs. These systems are favored in hospitals and clinics because they offer detailed and precise EEG recordings crucial for diagnosing neurological conditions. Standalone EEGs typically come equipped with advanced software for comprehensive data analysis, making them indispensable for continuous monitoring and complex diagnostic procedures. Additionally, their reliability and adaptability to various medical settings further secure their prominence in the EEG systems market, ensuring they meet the high standards required in medical diagnostics.

Breakup by Application:

• Disease Diagnosis
• Anesthesia Monitoring
• Sleep Monitoring
• Others
   

Disease diagnosis holds the largest share of the industry

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes disease diagnosis, anesthesia monitoring, sleep monitoring, and others. According to the report, disease diagnosis accounted for the largest market share.

Disease diagnosis is dominating the electroencephalograph (EEG) systems market due to the critical role EEG plays in the accurate and timely identification of neurological conditions such as epilepsy, brain tumors, sleep disorders, and brain injuries. EEG's ability to monitor electrical activity in the brain provides essential insights into neural function, facilitating early diagnosis and effective management of these conditions. Additionally, the increasing prevalence of neurological disorders globally and advancements in EEG technology that enhance diagnostic capabilities further drive the market's focus on disease diagnosis, making it a pivotal area of application.

Breakup by End User:

• Hospitals
• Diagnostic Centers
• Ambulatory Surgical Centers
• Others
   

Hospitals exhibits a clear dominance in the market 

A detailed breakup and analysis of the market based on the end user have also been provided in the report. This includes hospitals, diagnostic centers, ambulatory surgical centers, and others. According to the report, hospitals accounted for the largest market share.

Hospitals are dominating the electroencephalograph (EEG) systems market due to their critical role in diagnosing and monitoring neurological conditions, such as epilepsy, brain tumors, and sleep disorders. As primary centers for comprehensive healthcare services, hospitals require advanced diagnostic tools like EEG for accurate and timely patient assessments. The high patient influx and the need for continuous monitoring capabilities in neurology departments further drive the adoption of these systems. Moreover, hospitals often have the infrastructure and financial resources to invest in cutting-edge EEG technologies, enhancing their dominance in the market.

Breakup by Region:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East
• Africa
   

North America leads the market, accounting for the largest electroencephalograph systems market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East, and Africa. According to the report, North America represents the largest regional market for electroencephalograph systems.
North America dominates the electroencephalograph (EEG) systems market due to its advanced healthcare infrastructure, strong emphasis on research and development, and significant healthcare spending. The region's leading position is also supported by the presence of major market players who continuously innovate and expand their product offerings. Additionally, there is a high prevalence of neurological disorders in this region, which drives the demand for EEG systems. Moreover, stringent regulatory standards and favorable government policies towards healthcare technology further boost the adoption of EEG systems, solidifying North America's leadership in the global market.

Analysis Covered Across Each Country:

• Historical, current, and future market performance
• Historical, current, and future performance of the market based on type, modality, application, and end user.
• Competitive landscape
• Government regulations
   

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape covering market structure, market share by key players, market player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant, among others. Detailed profiles of all major companies have also been provided. This includes business overview, product offerings, business strategies, SWOT analysis, financials, and major news and events. Some of the major market players in the electroencephalograph systems industry include Natus Medical, inc., Nihon Kohden Corporation, Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., Cephalon A/S, Compumedics Limited, Electrical Geodesics, Inc, General Electric Company (GE Healthcare), Medtronic, and Koninklijke Philips N.V. (Philips Healthcare), among many others. The electroencephalograph systems market is marked by intense competition with dominant players like Nihon Kohden, Medtronic, and Philips Healthcare leading due to their technological innovations and extensive product ranges. The sector is buzzing with R&D, strategic mergers, acquisitions, and collaborations aimed at expanding market presence and introducing new technologies like wireless and wearable EEG devices. For instance, in May 2022, Beacon Biosignals partnered with Stratus to enhance at-home brain monitoring and neurodiagnostics, utilizing advanced machine learning platforms. Moreover, in October 2021, Brain Scientific Inc. merged with Piezo Motion Corp. to broaden capabilities and accelerate the introduction og growundbreaking products, reinforcing the competitive landscape and pushing the boundaries of brain monitoring technology. Innovative developments also include Neurosteer's FDA-approved EEG platform for efficient clinical trial screenings in 2022.

Analysis Covered for Each Player:

• Market Share
• Business Overview
• Products Offered
• Business Strategies
• SWOT Analysis
• Major News and Events
   

Electroencephalograph Systems Market News:

• In October 2022, Medtronic announced the introduction of the Medtronic Neurovascular Co-lab, a platform and innovation process dedicated to generating novel ideas for advancing stroke care.
• In May 2024, ChristianaCare announced the launch of a cutting-edge electroencephalogram (EEG) brain monitoring program, marking a significant advancement in diagnosing and managing neurological conditions. This first-of-its-kind program allows bedside EEG assessments to measure brain electrical activity, offering quick diagnosis of conditions like seizures. Utilizing the Ceribell point-of-care EEG system, ChristianaCare, a pioneer in Delaware, has significantly reduced diagnosis times from hours to minutes.
• In November 2023, Advanced Brain Monitoring, Inc. announced the integration of its mobile, wireless 24-channel EEG system with Stratus EEG's cloud-based platform for versatile seizure monitoring in homes or hospitals. This lightweight system, which also captures ECG and EMG signals, has been utilized in over 50 clinical trials and research programs, involving more than 20,000 participants globally.
   

Electroencephalograph Systems Market Report Scope:

Key Questions Answered in This Report:

• How has the global electroencephalograph systems market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global electroencephalograph systems market?
• What is the impact of each driver, restraint, and opportunity on the global electroencephalograph systems market?
• What are the key regional markets?
• Which countries represent the most attractive electroencephalograph systems market?
• What is the breakup of the market based on the type?
• Which is the most attractive type in the electroencephalograph systems market?
• What is the breakup of the market based on the modality?
• Which is the most attractive modality in the electroencephalograph systems market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the electroencephalograph systems market?
• What is the breakup of the market based on the end user?
• Which is the most attractive end user in the electroencephalograph systems market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global electroencephalograph systems market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the electroencephalograph systems market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the global electroencephalograph systems market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the electroencephalograph systems industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides insight into the current positions of key players in the market.