Magnetoencephalography Devices Market - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Category: Healthcare, Pharmaceuticals & Medical Devices

Publisher: Trends Market Research

Status: On-going

Market Overview:

The Global Magnetoencephalography Devices Market held USD 276.1 million in 2019 and is to grow with a CAGR of 4.4% from 2020-2030. Magnetoencephalography Devices Market is growing at a much faster rate from the last few years. Magnetoencephalography problem occurs in all the age groups, but mostly to those who use more gadgets and do less exercises. The Magnetoencephalography primarily includes diagnosis of conditions such as stroke, dementia, schizophrenia, epilepsy, brain tumor. In the diagnosis of epilepsy, MEG has proven to be an effective method as MEG tests have high sensitivity to small neuronal population in the neocortical region.

Market Dynamics and Factors:

Magnetoencephalography (MEG) measures the magnetic field produced by electrical currents in the brain. Magnetic field measurements range from Femto-Tesla to Pico-Tesla. MEG provides very accurate resolution of the timing of neural activity. This is an invasive test. MEG is a direct measure of brain activity and has a very high temporal resolution. It also has good spatial resolution. The MEG is generally combined with the brain's magnetic resonance imaging (MRI) to obtain a good structural view. This combination of MEG and MRI is called Magnetic Source Imaging (MSI). Currently, its recognized clinical uses in the United States are in epilepsy surgery and for preoperative brain mapping. Most clinical MEGs in the United States Associated with epilepsy centers. Additionally, due to the development of MEG technology, the magnetoencephalography devices market is expected to generate high revenues during the forecast period.

For example, in 2016, York Instruments Ltd., a subsidiary of Croton Healthcare, developed the next-generation magnetoencephalography (MEG) brain scanner, the latest HQIDUD sensor technology integrated into MEG devices. It is an innovative development of the common SQID technology used in older MEG devices. The HQUID maintains the sensitivity of the SQUID to the magnetic field while the performance characteristics are good and it is easy to manufacture and calibrate.

Market Segmentation:

The magnetoencephalography devices market trends include application and end-user. By application, magnetoencephalography devices market is segmented into clinical Application, and research applications. Based on clinical application, market segmentation include dementia, autism, stroke, epilepsy, traumatic brain injury, brain tumor. On the basis of end user, magnetoencephalography devices market includes hospitals, imaging centers, academic and research institutes. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

North America dominates the magnetoencephalography devices market share with the large demand owing to increasing prevalence of neurodegenerative disorders. Growing cases of neurological disorders in this region is expected to drive the growth of magnetoencephalography devices market. Increasing prevalence of epilepsy patients, brain surgeries and adoption of magnetoencephalography systems for the purpose of clinical brain diagnosis will spur the global market growth in this region.

Competitive Scenario:

Global magnetoencephalography devices market demand, is highly competitive, consists of a few established players. Some of the leading players garner most of the market share. Key companies are also expanding their manufacturing facilities to cater to growing need for magnetoencephalography. Key players enhancing the global magnetoencephalography devices market size include Croton Healthcare, CTF MEG International Services LP, Ricoh Company, Compumedics Limited, Ltd.

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