Market Introduction
Electroencephalography (EEG) is the study of electrical brain action along with the scalp. With the help of multiple electrodes placed on the head, the EEG equipment examines voltage fluctuations resulting from ionic current flows in the brain's neurons. EEG is among the most stable and predicative pointers when analysing human cognition, evaluating a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy. Moreover, the device is used to identify sleep disorders, coma, anaesthesia, encephalopathies, and brain death. The device is utilized for the diagnosis of tumours, stroke, and other brain ailments.
Thus, the significantly rising elderly population is expected to create a significant demand for EEG devices in the coming years, which is further anticipated to drive the EEG devices market.
COVID-19 pandemic has broadly affected that economies in the Asia Pacific region. Countries such as India, China, Japan, South Korea were adversely affected by the pandemic. The socio-economics were severely affected, rising in negative inflation, GDPs, and a surge in unemployment in the region. The pandemic has affected three main aspects of the global economy: production, supply chain, and firms and financial markets. For example, the Nihon Kohden Group has production sites in Japan, the US, India, China, and Italy and has tentatively discontinued operations at most of these sites but maintains operating R&D and sales offices in Japan. National governments have announced largely uncoordinated, country-specific responses to the virus. As authorities encourage “social distancing” and consumers stay indoors, several businesses are hit. However, coherent, coordinated, and credible policy responses are expected to offer the best chance at limiting the economic fallout. This pandemic is affecting the business operation of the various key players operating in this region.
Market Overview and Dynamics
The EEG devices market in Asia Pacific is expected to grow from US$ 181.6 million in 2021 to US$ 311.4 million by 2028; it is estimated to grow at a CAGR of 8.0% from 2021 to 2028. In the field of the medical industry, the research and developments have been growing with functional space and leading the players to introduce new products in the market. The innovations for neurological products have enabled players to manufacture advanced diagnosis products. Several market players are engaged in designing and manufacturing uniquely engineered EEG devices that are used in neurological disease diagnosis. The EEG system rapidly evaluates brain-wave information of unconscious patients. The device developed for quick setup and effective placement of electrodes within five minutes, which allows doctors to assess brain health and conclude the best treatment possibilities for unconscious patients.
Key Market Segments
In terms of product, the 32-channel EEG segment accounted for the largest share of the Asia Pacific EEG devices market in 2020. In terms of application, the brain tumour segment accounted for the largest share of the Asia Pacific EEG devices market in 2020. In terms of device type, the standalone devices segment accounted for the largest share of the Asia Pacific EEG devices market in 2020. In terms of end user, the hospitals and clinics segment held a larger market share of the EEG devices market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the EEG devices market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report areKoninklijke Philips N.V., Bitbrain Technologies, Brain Products GmbH, g.tec medical engineering GmbH Austria, Wearable Sensing, Neuroelectrics, ANT Neuro, Mitsar Co. LTD., NeuroSky, BioSemi, and EMOTIV.
Reasons to buy report
ASIA PACIFIC EEG DEVICES MARKET SEGMENTATION
By Product
By Application
By Device Type
By End User
By Country
Companies Mentioned
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 181.6 Million |
| Market Size by 2028 | US$ 311.4 Million |
| CAGR (2021 - 2028) | 8.0% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific EEG Devices Market is valued at US$ 181.6 Million in 2021, it is projected to reach US$ 311.4 Million by 2028.
As per our report Asia Pacific EEG Devices Market, the market size is valued at US$ 181.6 Million in 2021, projecting it to reach US$ 311.4 Million by 2028. This translates to a CAGR of approximately 8.0% during the forecast period.
The Asia Pacific EEG Devices Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific EEG Devices Market report:
The Asia Pacific EEG Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific EEG Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific EEG Devices Market value chain can benefit from the information contained in a comprehensive market report.
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