The Electroencephalography Devices Market Is Growing with Increasing Incidence of Neurological Disorders
Electroencephalography is a neurological test used to measure and record electrical activities in the brain. There are different types of Electroencephalography (EEG) devices such as wireless, portable, and standalone, depending on the modality of the device. EEG test is widely used to diagnose various neurological disorders such as Alzheimer’s, Parkinson’s, epilepsy, seizures, brain tumor, stroke, sleeping disorders, etc. It is a non-invasive procedure used to measure electrical activity in the brain by placing electrodes on the patient’s skull to measure electrical fluctuations induced by neurons in the brain. Growth of the Electroencephalography devices market is mainly driven by the increasing incidence of neurological disorders coupled with the growing geriatric population across the world.
According to Alzheimer’s Association, over 6 million people in the United States (of all ages) have Alzheimer’s. Moreover, around 6.2 million Americans age 65 and older are living with Alzheimer’s in 2021, 72% are age 75 or older. Thus, demand for Electroencephalography devices is increasing with the increasing prevalence of the disease. For instance, in September 2019, Nihon Kohden launched its VitalEEG wireless electroencephalogram headset in the United States. The EEG system quickly evaluates brain-wave information of unconscious patients. Moreover, in April 2020, Brain Scientific launched their online store to sell Food and Drug Administration (FDA) cleared EEG products, such as NeuroCap and NeuroEEG.
The Electroencephalography devices market is witnessing robust growth in North America due to increasing prevalence of neurological disorders, increasing product development, increasing approvals of EEG devices, and growing geriatric population. For instance, in February 2021, Rhythmlink announced FDA clearance of a new product line. Sticky Pad Surface Electrodes, a line of peel and stick-on electrodes for Intraoperative Neurophysiological Monitoring and Electroencephalography are now FDA Cleared MR Conditional for 1.5 and 3 Tesla MRI environments. However, lack of skilled professionals to operate and administer testing and time consuming setup of conventional EEG is expected to restraint the Electroencephalography devices market growth.
Players in the market are focused on product development and launch activates to strengthen their EEG product portfolio. For instance, in May 2020, Naxon Labs launched Explorer, a cheap and useful tool and neuro-feedback system consists of an electroencephalography monitor adapted for portable EEG, in particular the Muse headset by Interaxon Inc. Moreover, rising investments for research and development by manufacturers to provide advanced brain monitoring devices is another major factor significantly contributing to the growth of the electroencephalography devices market. Market players are investing in research and development to improve the existing EEG devices and to develop new ones to cater to the increasing demand for advanced devices.
