Overview and Scope
The neurophysiology devices and equipment deal with different functions of the nervous system such as spinal cord and peripheral nerve dysfunction brain alterations and nerve damage.
Sizing and Forecast
The neurophysiology devices and equipment market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rising prevalence of neurological disorders, increasing demand for early diagnosis, aging population, rising prevalence of chronic diseases.
The neurophysiology devices and equipment market size is expected to see strongly grown in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to personalized medicine, neurological research growth, neurorehabilitation, growing investment in neurophysiology infrastructure, growing demand for cloud-based neurophysiology solutions. Major trends in the forecast period include advances in neurophysiology technology, non-invasive brain stimulation, miniaturization and portability, functional neuroimaging, wireless and wearable devices, neural interface technology, clinical research and drug development.
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Segmentation & Regional Insights
The neurophysiology devices and equipment market covered in this report is segmented –
1) By Technology: Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECoG), Evoked potential (EP)
2) By Modality: Standalone, Portable
3) By End Users: Hospitals, Ambulatory Surgical Centers
North America was the largest region in the neurophysiology devices and equipment market in 2023. Western Europe was the second-largest region in the global neurophysiology devices and equipment market share. The regions covered in the neurophysiology devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Major Driver Impacting Market Growth
The major factor responsible for the growth of the neurophysiology device and equipment market is the increasing prevalence of neurological disorders, worldwide. Neurological disorders are identified as one of the most prevalent disorders out of all the recurring ailments. There are more than 600 neurological disorders like brain tumors, epilepsy, Parkinson’s disease, Alzheimer’s, etc. These disorders were ranked as the leading cause group of Disability Adjusted Life Years (DALYs), which is the number of years lost due to ill-health, disability, or early death. The increasing number of cases of neurological diseases and the growing count of patients are leading to the increasing demand for the devices used in the treatment of such disorders. For example, as per the National Brain Tumor Society, around 83,570 people in the USA were suffering from Brain Tumors in 2021. This would increase the demand for medical devices used in the treatment of neurological disorders, thus driving the Neurophysiology device and equipment market during the forecast period.
Key Industry Players
Major companies operating in the neurophysiology devices and equipment market include Medtronic PLC, Nihon Kohden Corporation, Dr. Langer Medical Gmbh, Natus Medical Incorporated, Inomed Medizintechnik, NuVasiveInc., Axon Healthcare Ltd., Bovie Medical Corporation, Neurosign, Neurowave Systems, Cadwell Industries, Brainsway, Checkpoint Surgical, Deymed diagnostic Inc., Langer Medical GmbH, EMS Biomedical, Halyard Health, Compumedics Limited, Magtism, Erbe Elektromedizi, Langer Medical, Shanghai NCC Medical, Ambu, Blackrock Microsystems, Cognionics, Morningside Medical Equipment, BeckerSmith Medical, Cognivue, Helius Medical Technologies, inTRAvent Medical Partners, Neural Diagnostics Pty Ltd., Irras AB
The neurophysiology devices and equipment market report table of contents includes:
1. Executive Summary
2. Neurophysiology Devices And Equipment Market Characteristics
3. Neurophysiology Devices And Equipment Market Trends And Strategies
4. Neurophysiology Devices And Equipment Market – Macro Economic Scenario
5. Global Neurophysiology Devices And Equipment Market Size and Growth
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31. Global Neurophysiology Devices And Equipment Market Competitive Benchmarking
32. Global Neurophysiology Devices And Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Neurophysiology Devices And Equipment Market
34. Neurophysiology Devices And Equipment Market Future Outlook and Potential Analysis
35. Appendix
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