EEG, EMG and Evoked Potential Devices Market 2015: Worldwide Industry Analysis Of Development, Revenue And Gross Margin By 2021
Electroencephalogram (EEG) is used to diagnose brain disorders and visualizes the activity of the brain during a seizure. EEG evaluates people who are suffering from brain problems such as coma, confusions and tumors, difficulties in thinking and memory and weakening of specific parts of the body. EEG devices are the largest and fastest growing product segment in the global EEG, EMG and Evoked Potential devices market. Electromyography (EMG) measures the electrical activity of muscles at the time of rest and contraction. An EMG uses tiny devices called electrodes which help in transmission and detection of electrical signals. Evoked Potential devices are used to clinically diagnose a wide variety of central nervous system (CNS) diseases.
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In terms of geographic market, North America dominates the global EEG, EMG and Evoked Potential devices market. This is due to increased awareness about importance of brain monitoring devices in the region. The U.S. represents the largest market for EEG, EMG and Evoked Potential devices followed by Canada in North America. This is due to improved healthcare infrastructure in the region. For instance, in 2012, according to the American Hospital Association (AHA), about 5,723 registered hospitals were reported in the U.S.. Registered hospitals are those hospitals that fulfill all the AHA criteria. These increased hospitals have resulted significant rise in the demand of EEG, EMG and Evoked Potential devices in the U.S.
In Europe, Germany, Italy, the U.K. and France holds major share of EEG, EMG and Evoked Potential devices market. However, Asia is expected to show high growth rates in the next five years in global EEG, EMG and Evoked Potential devices market. This is due to many companies constructing their R&D facilities in the region. In addition, increasing awareness about various neurological diseases is also supporting in the growth of EEG, EMG and Evoked Potential devices market in the region. Japan, China and India are expected to be the fastest growing EEG, EMG and Evoked Potential devices markets in Asia.
In recent time, increasing prevalence of neurodegenerative diseases, such as Parkinson’s and Alzheimer’s disease, is key driver of the global EEG, EMG and Evoked Potential devices market. Rising number of geriatric populations and technological advancement in brain monitoring devices are also contributing in the growth of global EEG, EMG and Evoked Potential devices market. Introduction of scientifically advanced digital EEG equipments with innovative features, such as high precision monitoring abilities and ease handling, enhance the market growth. Moreover, increasing number of hospitals, healthcare academic and research institutes, clinics and nursing homes have also fueled the demand of EEG, EMG and Evoked Potential devices.
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However, stringent regulations obstruct the growth of EEG, EMG and Evoked Potential devices market. In addition, cost containment, lack of skilled labors and inadequate reimbursement policies also hampers the growth of global ECG, EMG and Evoked Potential devices market. Rapid product launches and increasing mergers and acquisitions between manufacturing companies and government associations are some of the major trends in the global EEG, EMG and Evoked Potential devices market.
Some of the major companies operating in the global EEG, EMG and Evoked Potential devices market are Cadwell Laboratories Inc., Compumedics Limited, Covidien Limited, Electrical Geodesics Inc., Natus Medical Inc., NeuroWave Systems Inc., Nihon Kohden America Inc. and Noraxon.