LONDON--(BUSINESS WIRE)--The global neurodiagnostic and monitoring devices market is expected to post a CAGR of more than 8% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global neurodiagnostic and monitoring devices market size is the growing demand for EEG and EMG procedures. The rising prevalence of neurological disorders is increasing the demand for EEG and EMG procedures. EEG procedure is considered as the gold standard for the diagnosis of neonatal seizures. This is mainly because it improves patient care through the prognostic identification of significant EEG pattern and provides an accurate diagnosis of seizures and non-seizure paroxysmal events. EMG procedure is used for the evaluation of muscle activity and contraction. Thus, the demand for EEG and EMG procedures is increasing, which will fuel the market growth during the forecast period.
As per Technavio, growing applications of health informatics and monitoring solutions will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global neurodiagnostic and monitoring devices market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Neurodiagnostic and Monitoring Devices Market: Growing Applications of Health Informatics and Monitoring Solutions
Health informatics solutions are increasingly being integrated with neurodiagnostic and monitoring devices as it gives clinicians the ability to remotely view vital information from multiple devices, including EEG devices, and pulse oximeters. These technologies provide improved medical diagnosis and disease analysis for procedures such as EEG, EMG, and TCD. Thus, the growing applications of health informatics and monitoring solutions are expected to fuel the growth of the market during the forecast period.
“Apart from the growing applications of health informatics and monitoring solutions, other factors such as increasing technological advances, and rising popularity of hybrid brain-computer interface techniques will have a significant impact on the neurodiagnostic and monitoring devices market growth during the forecast period,” says a senior analyst at Technavio.
Global Neurodiagnostic and Monitoring Devices Market: Segmentation Analysis
This market research report segments the global neurodiagnostic and monitoring devices market size by product (EEG devices, ICP devices, EMG devices, and others), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the neurodiagnostic and monitoring devices market in 2018, followed by Europe, Asia, and ROW respectively. The neurodiagnostic and monitoring devices market report identifies several factors such as the high healthcare expenditure on neurological devices, rise in the adoption of technologically advanced neurodiagnostic and monitoring devices, and the rising geriatric population to contribute to the higher market share of the North America region.
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Five Forces Analysis
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- Key leading countries
- Vendors covered
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- Market positioning of vendors
- Competitive scenario
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