LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global electroencephalography (EEG) devices market to grow at a CAGR close to 10% during the period 2018-2022, according to their latest report.
This market research report segments the global electroencephalography devices market into the following product modality (stationary EEG devices and portable EEG devices), end-users (hospitals and clinics and ASCs), and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the increasing prevalence of neurological disorders as a key factor contributing to the growth of the global electroencephalography devices market:
Increasing prevalence of neurological disorders
The cases of neurological disorder are significantly increasing in both developed and developing countries. In 2015, neurological disorders caused 250.692 million disability-adjusted life years (DALYs), comprising 10.2% of the global DALYs, and 9.399 million deaths, comprising 16.8% of the global deaths. In the US, it is estimated that nearly three million people had active epilepsy and each year nearly 1.7 million people sustain a TBI, of which approximately 52,000 people die, 275,000 people hospitalized, and 1.365 million people released from an emergency department. It is estimated that nearly 30.5% of all injury-related deaths are due to TBIs.
According to a senior analyst at Technavio for patient monitoring devices, “In the US, stroke is the fifth leading cause of death and a leading cause of serious disability for adults. Around five million people had Alzheimer’s disease in 2013. This number is expected to increase to 14 million by 2050. The increase in average life expectancy is resulting in the older population growing at rapid pace. EEG devices are implemented in diagnosing and monitoring these diseases. Therefore, the increasing demand for EEG devices propels the market growth.”
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Global electroencephalography devices market segmentation
Of the two major product modalities, the stationary EEG devices segment held the largest market share in 2017, accounting for nearly 68% of the market. The market share for this application is expected to decrease by 2022. The fastest growing product modality is portable EEG devices, which will account for 32% of the total market share by 2022.
The Americas was the leading region for the global electroencephalography devices market in 2017, accounting for a market share of 47%. By 2022, the Americas is expected to witness a decline, whereas APAC and EMEA are expected to register positive growth in terms of market share.
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