About Neurodiagnostic and Monitoring Devices
Neurodiagnostic and monitoring devices are used to monitor and record electrical activity in the brain, muscles, spinal cord, and other nerves. These devices are primarily used for diagnosing chronic brain disorders, such as sleep disorders, brain tumors, epilepsy, brain dysfunction, head injuries, encephalitis, strokes, and dementia.
Technavio’s analysts forecast the neurodiagnostic and monitoring devices market in the US to grow at a CAGR of 8.63% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the neurodiagnostic and monitoring devices market in the US for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of Electroencephalogram (EEG), Electromyography (EMG), Transcranial Doppler, Intracranial pressure monitor, and Cerebral oximeters.The market is divided into the following segments based on product:
Technavio Announces the Publication of its Research Report – Neurodiagnostic and Monitoring Devices Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the neurodiagnostic and monitoring devices market in the US: Cadwell, Compumedics, Natus Medical, and Nikon Kohden.
Other Prominent Vendors in the market are Blackrock NeuroMed, Delsys, Electrical Geodesic (EGI), Elmiko, LifeLines Neurodiagnostic Systems, MEG International Services, Mega Electronics, Motion Lab Systems, Neurovirtual, Nonin Medical, Philips, and Zynex NeuroDiagnostics.
Commenting on the report, an analyst from Technavio’s team said that health informatics and monitoring solutions is one of the key trends that led to the growth of this market. Health informatics and monitoring solutions has revolutionized the healthcare system, as they enable remote access to vital information contained in devices such as cerebral oximeters and capnography monitors. The in-built software transfers data regarding patient's health to servers in hospitals, which can be accessed via tablets, smartphones, and computers. This enables clinicians to remotely monitor patients recovering from acute care situations in an efficient manner. For example, centrally monitored continuous oximetry can reduce rapid response calls and transfers to the ICU.
According to the report, increased prevalence of neurological disorders is a major factor promoting growth for the market. Prevalence of chronic disorders such as strokes, ischemic strokes, migraines, epilepsy, dementias, Parkinson’s disease, and multiple sclerosis is on the rise across the US. These neurological disorders are linked to unhealthy dietary habits, lack of exercise, obesity and stress, hectic lifestyles, infections, genetic abnormalities, and physical injuries. According to the American Academy of Neurology, in 2014, neurologic disorders accounted for 7% of all global diseases. Mortality rates for these neurological disorders amounted to 18.8 per 100,000 individuals in the US. Prompt diagnosis and effective monitoring of these disorders are critical for the recovery of patients. The high incidence of these neurological disorders is expected to propel the demand for neurodiagnostic and monitoring devices.
Further, the report states that lack of skilled workforce is leading to a drop in demand for neurodiagnostic and monitoring devices, as these can only be operated by skilled professionals. Neurodiagnostic and monitoring devices are complex systems that require handling by experts. Only neurologists and highly skilled technicians perform these procedures in hospitals, clinics, and neurophysiological laboratories. There is a dearth of neurologists and neurosurgeons with expertise in neuromonitoring. In 2012, about 16,500 neurologists were available in the US as against a requirement of 18,000 neurologists, a deficit of 11%. By 2025, the requirement is expected to increase to 21,000.
Cadwell, Compumedics, Natus Medical, Nikon Kohden, Blackrock NeuroMed, Delsys, Electrical Geodesic (EGI), Elmiko, LifeLines Neurodiagnostic Systems, MEG International Services, Mega Electronics, Motion Lab Systems, Neurovirtual, Nonin Medical, Philips, Zynex NeuroDiagnostics.
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