DUBLIN--(BUSINESS WIRE)--The "Neurodiagnostic and Monitoring Devices Market in the US by Product - Forecast and Analysis 2020-2024" report has been added to ResearchAndMarkets.com's offering.
Neurodiagnostic and Monitoring Devices Market in the US: About this market
The neurodiagnostic and monitoring devices market in the US analysis considers sales ICP monitoring devices, EEG devices, EMG devices, and other products. In 2019, the ICP monitoring devices segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the growing number of traumatic brain injury and brain tumor cases will play a significant role in the ICP monitoring devices segment to maintain its market position. Also, our neurodiagnostic and monitoring devices market in the US report looks at factors such as increasing incidences and prevalence of neurological conditions, new product launches, and the growing number of mergers and acquisitions. However, high costs associated with neurodiagnostic and monitoring devices, complications related to neurodiagnostic procedures and monitoring, and frequent product recalls may hamper the growth of the neurodiagnostic and monitoring devices market in the US over the forecast period.
Neurodiagnostic and Monitoring Devices Market in the US: Overview
Increasing incidences and prevalence of neurological conditions
Patients with a comprehensive range of neurological disorders, including epilepsy, stroke, Parkinson's disease, and brain tumors, have a substantial risk of developing a disability. These neurological disorders develop due to several factors such as bacterial and viral infections, genetic factors, and the lack of immune response. Healthcare professionals use neurodiagnostic and monitoring devices such as EEG, EMG, MEG, and ICP to diagnose neurological diseases for further interventions to save the life of the patients. The increasing number of cases of patients with brain tumors and stroke in the US is driving the need for brain hemorrhage treatment. Stroke can also lead to malignant cerebral edema, which increases the intracranial pressure and brain shift. Intracranial pressure can be monitored using ICP monitoring devices. Thus, the growing use of neurodiagnostic and monitoring devices due to the high prevalence of neurological conditions in the US will lead to the expansion of the neurodiagnostic and monitoring devices market in the US at a CAGR of over 7% during the forecast period.
Paradigm shift toward hybrid brain-computer interface
The demand for non-invasive, hybrid brain-computer interface (HBCI) technologies has increased for enhancing and improving the accuracy of neurodiagnostic procedures. EEG is the widely accepted and majorly performed procedure for diagnosis purposes. It is mostly used in combination with other modalities such as EMG and PSG to enhance the number of control commands, improve accuracy, and minimize the signal detection time. HBCI generally combines with one or more brain-computer interface (BCI) signals or human-machine interface (HMI) biosignals, which helps in improving customer satisfaction and boosting system performance. This development is expected to have a positive impact on the overall market growth.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Value chain analysis
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market size and forecast 2019-2024
- Market outlook
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: MARKET SEGMENTATION BY PRODUCT
- Market segmentation by product
- Comparison by product
- ICP monitoring devices - Market size and forecast 2019-2024
- EEG devices - Market size and forecast 2019-2024
- EMG devices - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by product
PART 07: CUSTOMER LANDSCAPE
PART 08: DECISION FRAMEWORK
PART 09: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 10: MARKET TRENDS
- Technological advances
- Initiatives to promote neurodiagnostic and monitoring devices
- Paradigm shift toward hybrid brain-computer interface
PART 11: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 12: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Cadwell Industries Inc.
- Compumedics Ltd.
- Koninklijke Philips NV
- Masimo Corp.
- Medtronic Plc
- Natus Medical Inc.
- Nihon Kohden Corp.
For more information about this report visit https://www.researchandmarkets.com/r/ups2kz