Global Magnetoencephalograph Market, By Modality (Portable Devices, Fixed Devices), Application (Clinical Application, Research Application), End User (Hospitals, Imaging Centers, Academic and Research Institutes) – Industry Trends and Forecast to 2029
Market Analysis and Size
The growing geriatric population is also expected to drive the growth of the market, since they are more prone to neurodegenerative diseases. According to the World Health Organization, neurological disorders are a leading cause of death, accounting for 12.0% of all deaths worldwide. In the present case scenario, more than 5.8 million Americans have Alzheimer’s disease. By 2050, it is expected that nearly 14 million (approx.). Alzheimer’s disease is the sixth leading cause of death in the United States and is more prevalent among people above 65 years of age
- Data Bridge Market Research analyses that the magnetoencephalograph market is growing at a CAGR of 4.90% during the forecast period and is likely to reach USD 393.91 million by 2029. By application, the clinical segment dominated the magnetoencephalograph market and accounted for the largest revenue share of over 56.0% in 2020, and is further expected to continue its dominance throughout the forecast period.
Magnetoencephalograph is a medical instrument specially designed to measure the mapping of brain and brain disorders by producing magnetic field that is being produced by electric current. It is used to produce a magnetic image that will help to cure the brain tumour.
Magnetoencephalograph Market Dynamics
Growing incidence of brain tumour in geriatric population
Tumours are one of the biggest cause in death in recent years and with growing population the cases of brain tumour are increasing rapidly. There are many companies doing research to develop more cures and treatments to stop the rising rate of brain tumour cases.
Increased investment in the research and development in the field of mental health
With rising cases of brain tumour there are also increasing opportunities for investor to spend money on research and development in the field of mental health. Mental health is still a very small part of healthcare system but now investments are increasing and with growing awareness about mental health it is going to drive the market.
Additionally, increasing number of imaging centers and advancements in technology positively affect the magnetoencephalograph market.
Furthermore, increasing focus of quality of healthcare, the increased initiative by the government extend profitable opportunities to the market players in the forecast period of 2022 to 2029.
On the other hand, the preference for magnetic resonance imaging (MRI) scanning, computerized axial tomography (CT) scanning, and positron emission tomography (PET) scanning are expected to obstruct market growth. Also, lack of skilled professionals and high price are projected to challenge the magnetoencephalograph market in the forecast period of 2022-2029.
This magnetoencephalograph market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the magnetoencephalograph market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Magnetoencephalograph market
The market demand for COVID-19 vaccine has increasing, due to increase in the everyday cases across the globe. Thus leading to increase in the demand of rapid diagnostic testing. For instance, according to many research it is found that real time PCR (RT-PCR) is most inexpensive and effective method for the diagnosis of COVID-19 testing. The biggest concerns are people who are separated from their family and living in isolation and many of them are suffering from severe mental problems and because they can’t get proper treatment because of isolation it is hindering the market.
- In 2020, 1.9 million dollars were spent on collaborative research between scientists at the University of Nottingham and University College London (UCL) to improve the mapping of the human brain. Researchers working on magnetoencephalography (MEG) have 3D printed a prototype helmet that could triple the sensitivity of current MEG devices.
- York Instruments Ltd., a Croton Healthcare company, created the next-generation magnetoencephalography (MEG) brain scanner in 2021, using the newest HyQUID sensors technology included in MEG devices. It is a fresh take on the common SQUID technology used in older MEG devices. The HyQUID retains the SQUID’s magnetic field sensitivity while having improved overall performance characteristics and being easier to construct and calibrate
Global Magnetoencephalograph Market Scope
The magnetoencephalograph market is segmented on the basis of modality, end user and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Portable devices
- Fixed devices
Based on modality, magnetoencephalograph market is segmented into portable devices and fixed devices.
- Imaging centers
- Research institutes
Global magnetoencephalograph market has also been segmented based on the end user into hospitals, imaging centers and academic and research institutes.
- Clinical application
- Research application
Based on application, magnetoencephalograph market has been segmented into clinical application and research application. The clinical application of magnetoencephalograph market has been further segmented into dementia, autism, schizophrenia, multiple sclerosis, stroke, epilepsy, traumatic brain injury and brain tumor.
Magnetoencephalograph Market Regional Analysis/Insights
The magnetoencephalograph market is analysed and market size insights and trends are provided by country, modality, end user and application as referenced above.
The countries covered in the magnetoencephalograph market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the magnetoencephalograph market due to the large market share of the U.S. in magnetoencephalograph market due to the presence of emerging players and advanced technology in the region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the high occurrence of mental health disorders in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The magnetoencephalograph market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for magnetoencephalograph market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the magnetoencephalograph market. The data is available for historic period 2010-2020.
Competitive Landscape and Magnetoencephalograph Market Share Analysis
The magnetoencephalograph market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to magnetoencephalograph market.
Some of the major players operating in the magnetoencephalograph market are Compumedics Limited, biomagcentral.org, Siemens Healthcare LLC, Yokogawa Electric Corporation, Croton Healthcare, CTF MEG INTERNATIONAL SERVICES LP, Johnson & Johnson Services Inc., AstraZeneca, Bristol-Myers Squibb Company, Eli Lilly and Company. F-Hoffmann-La Roche Ltd, Novartis AG, Otsuka Holdings Co., Ltd., Pfizer Inc., GlaxoSmithKline plc , Alkermes , ALLERGAN, Janssen Pharmaceuticals, Inc., Solvay Meiji Holdings Co, Ltd., Abbott, Jazz Pharmaceuticals, Inc., AbbVie Inc., Vertical Pharmaceuticals, LLC, ACADIA Pharmaceuticals Inc., Medtronic and Bausch Health among others.