32-channel EEG Segment has the Largest Share of Product in the South and Central America EEG Devices Market during 2021–2028

According to a new market research study on “South and Central America EEG Devices Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product, Application, Device Type, and End User” is expected to reach US$ 102.7 million by 2028 from US$ 65.5 million in 2021. The market is estimated to grow at a CAGR of 6.6% from 2021 to 2028. The report provides trends prevailing in the South and Central America EEG devices market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing incidences of neurovascular disorders and significantly rising elderly population are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the high cost of EEG devices.

The Pan American Health Organization (PAHO) has recommended using medical instruments or equipment for home care to avoid exposure from healthcare facilities. Therefore, it is expected to offer growth opportunities to EEG device players to enhance their sales in the region. Also, the growing geriatric population is more prone to get neurological disorders. At the same time, the rise in the second wave of COVID-19 has increased more stressed among adults, which is likely to increase the demand for EEG devices in coming years.

The market for EEG devices market is segmented into product, application, device type, and end user. Based on product, the EEG devices market is segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, Multi-channel EEG, 21-channel EEG, and 8-channel EEG. In 2021, the 32-channel EEG segment is estimated to account for the largest market share in the EEG devices market. Technological development in 32-channel EEG products and its high acceptance by healthcare professionals are the major factors driving the growth of the segment. Owing to factors such as increasing usage in the 32-channel EEG segment is anticipated to grow in the future. However, the multi-channel EEG systems are projected to grow at the highest CAGR over the forecast period, owing to its various applications in recording electrical activities in the brain to detect strokes, neurological disorders, and other brain disorders.

Koninklijke Philips N.V., Bitbrain Technologies, Brain Products GmbH, g.tec medical engineering GmbH Austria, Wearable Sensing, Neuroelectrics, Mitsar Co. LTD., and EMOTIV are among the leading companies in the South and Central America EEG devices market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in March 2020, the company introduced a brand new 14-channel mobile brainwear EPOC X on its 10th Anniversary. The product launch has further enabled neuroscience research in different contexts with an updated sustainable design. 

The market for EEG devices market is segmented into product, application, device type, and end user. Based on product, the EEG devices market is segmented into 32-channel EEG, 25-channel EEG, 40-channel EEG, Multi-channel EEG, 21-channel EEG, and 8-channel EEG. Based on application, the EEG devices market is segmented into sleep disorders, neuroscience, head trauma, brain tumours, and others. Based on device type, the EEG devices market is segmented into standalone devices, and portable devices. Based on end user, the EEG devices market is segmented into hospitals & clinics, diagnostic centres, academic & research institutes, and research centres. Geographically, the EEG devices market is segmented into South and Central America (Brazil, Argentina, and Rest of SCAM).

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