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.
The EEG devices market witnessed some shortfall at the beginning of COVID-19 crisis owing to factors such as disruption in supply chain and demand due to lock down announced by majority of European countries. As per the news article, in Italy, due to Covid-19 emergency, access for thousands of cancer patients in need of chemotherapy, scans, transplants and surgery has become difficult. According to the research led by Codice Viola, charity that supports pancreatic cancer patients found that more than 1,000 surgery patient patients’ appointments for chemotherapy or radiotherapy were suspended. Additionally, 64% of surgical procedures were postponed and more than half have had follow-up appointments rescheduled. In the Netherlands, the healthcare system is under stress due to the rising number of COVID-19 patients. Family healthcare services providers are treating COVID-19 patient who has disrupted normal patient care.
Market Overview and Dynamics
The EEG devices market in Europe is expected to grow from US$ 308.1 million in 2021 to US$ 498.6 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028. Neurological diseases are the diseases of the spine, brain, and the nerves that connect them and provides oxygenated blood. The neurovascular systems are highly dependent on the continuous supply of oxygen and nutrients, which has been supplied by the arteries and veins. The amount of oxygen and nutrients to the brain is essential for its working; therefore, a defect in the system can impair the function, and it may quickly become a life-threatening factor. The neurovascular diseases include hemorrhage stroke, ischemic stroke, brain tumors, and more. The genetic disorders, lifestyle habits, related chronic conditions may cause the development of neurovascular diseases. Thus, it is anticipated that the increasing prevalence of neurovascular diseases is likely to fuel the growth of the market during the forecast period.
Key Market Segments
In terms of product, the 32-channel EEG segment accounted for the largest share of the Europe EEG devices market in 2020. In terms of application, the brain tumour segment accounted for the largest share of the Europe EEG devices market in 2020. In terms of device type, the standalone devices segment accounted for the largest share of the Europe 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 Europe 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
EUROPE 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$ 308.1 Million |
| Market Size by 2028 | US$ 498.6 Million |
| CAGR (2021 - 2028) | 7.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe EEG Devices Market is valued at US$ 308.1 Million in 2021, it is projected to reach US$ 498.6 Million by 2028.
As per our report Europe EEG Devices Market, the market size is valued at US$ 308.1 Million in 2021, projecting it to reach US$ 498.6 Million by 2028. This translates to a CAGR of approximately 7.1% during the forecast period.
The Europe 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 Europe EEG Devices Market report:
The Europe EEG Devices Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe EEG Devices Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe EEG Devices Market value chain can benefit from the information contained in a comprehensive market report.
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