Global Brain Monitoring Devices Market 2018-2022
About Brain Monitoring Devices
Brain monitoring devices are medical instruments that are used to identify and measure brain functions by recording any abnormalities in the functioning of the brain.
Technavio’s analysts forecast the global brain monitoring devices market to grow at a CAGR of 8.97% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global brain monitoring devices market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Brain Monitoring Devices Market 2018-2022
Technavio recognizes the following companies as the key players in the global brain monitoring devices market: Compumedics, GE Healthcare, Medtronic, Natus Medical, and NIHON KOHDEN.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing applications of health informatics and monitoring solutions. Health informatics deals with the acquisition, transmission, processing, storage, retrieval, and use of health information. Brain monitoring devices are increasingly being integrated with health informatics solutions. Moreover, health informatics and monitoring solutions give clinicians the ability to remotely view vital information from multiple devices including EEG devices, cerebral or somatic oximeters, and pulse oximeters.”
According to the report, one driver in the market is growing initiatives and support from governments and healthcare organizations. Various initiatives have been launched to improve healthcare access for patients with neurological disorders. For instance, the World Health Organization (WHO) is working with its partners and stakeholders to improve healthcare access for individuals with epilepsy. Likewise, the Mental Health Innovation Network aims to improve access to treatment for epileptic patients and raise awareness to reduce the social stigma attached to the condition in Asia.
Further, the report states that one challenge in the market is high cost of brain monitoring devices and procedures. The high cost of brain monitoring devices is limiting their adoption among end-users. For instance, the average selling price of an MEG device is approximately $4 million. Depending upon the number of channels, EEG devices with 1-32 channels cost around $1,000-$25,000, whereas EEG devices with more than 64 channels can cost above $25,000.
Compumedics, GE Healthcare, Medtronic, Natus Medical, and NIHON KOHDEN.