Electrical Activity Testing Market Size by Segments, Share, Regulatory, Reimbursement, Installed Base and Forecast to 2033
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Electrical Activity Testing Market Report Overview
The electrical activity testing market was valued at $1.31 billion in 2023 and will grow at a CAGR of more than 1% from 2023 to 2033. Neurodiagnostic tests are used to diagnose suspected neurological disorders through EEG, MEG, or EMG by looking at brain activity.
One of the key drivers of EEG and EMG markets is the increase in the aging population. This sector of the population is prone to developing neurological disorders, such as dementia, sleep disorders, head trauma, and neurodegenerative conditions such as Parkinson’s, which require EEG/EMG devices for diagnosis.
Electrical Activity Testing Market Outlook 2023-2033 ($ Billion)
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The electrical activity testing market research report identifies quantitative market trends within neurology device therapeutic areas. The report offers regional quantitative and qualitative data highlighting the sales in major markets. The model also provides an in-depth discussion of COVID-19’s effects on the electrical activity testing market for 2020 and beyond. Furthermore, the report provides electrical activity testing market share by company that will help in identifying untapped market opportunities.
Market Size (2023) | $1.30 billion |
CAGR (2023-2033) | >1% |
Historic Period | 2015-2022 |
Forecast Period | 2023-2033 |
Key Segments |
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Key Regions |
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Key Companies |
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Electrical Activity Testing Market Segmentation by Segments
The key segments in the electrical activity testing market are Electroencephalographs (EEG), Electromyographs (EMG), and Magnetoencephalographs (MEG). In 2023, the EEG segment dominated the electrical activity testing market growth. Electroencephalograms are used to diagnose issues related to the electrical activity of the brain. The device consists of electrodes that are placed on the scalp to record brain wave patterns. EEGs are used to detect various brain-related conditions, including seizures, head injuries, and dementia among others.
On the other hand, electromyograms are used to measure muscle activities and nerves in response to electrical activity. A needle electrode is inserted into the muscle, wherein the electrical signals produced through stimulation are transmitted through the electrode and into a receiver connected to a display.
Electrical Activity Testing Market Analysis by Segments, 2023 (%)
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Regional Analysis of Electrical Activity Testing Market
The key regions in the electrical activity testing market are Asia-Pacific, Europe, the Middle East and Africa, North America, and South and Central America. In 2023, the European electrical activity testing market held the largest share and is expected to retain its position throughout the forecast period. A large proportion of EEG/EMG diagnostic equipment is installed outside the hospitals in specialized clinics and diagnostic labs in Europe. This is expected to grow during the forecast period as simpler diagnostic procedures are performed by specialists outside of the hospital.
German electrical activity testing market follows global and regional trends for Europe. Germany has the most number of centers that maintain an MEG machine in Europe. A large proportion of the machines currently being used are from Compumedics Ltd.
Electrical Activity Testing Market Analysis by Regions, 2023 (%)
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Electrical Activity Testing Market – Competitive Landscape
In 2023, Nihon electrical activity testing market share was the highest
The key companies in the electrical activity testing market are:
- Nihon Kohden Corp
- Natus Medical Inc
- Cadwell Industries Inc
- Medtronic Plc
- Moberg Research Inc
With the lower cost and access to knowledge behind wearable and wireless technology, smaller companies will continue to enter the EEG space. These companies are launching new products that are targeted toward the user and home use. Devices will become more advanced and linked to electronic records through phones, providing a more patient-centered experience and collaboration between healthcare professionals and patients.
Electrical Activity Testing Market Analysis by Companies, 2023 (%)
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Electrical Activity Testing Market Dynamics
Trends: The key trend in the electrical activity testing market is the rising demand for wearable technology and home devices for monitoring brain activity for stress and sleep. EEG machines have also become more common as a consumer-based device that allows people to track their brain activity levels. This will contribute to the move toward patient-centered care.
Future Outlook: Despite the high prices of MEG machines, advanced capabilities of these devices can significantly increase the safety and outcomes rates of patients undergoing seizure surgery. Thus, in the coming years, many companies will invest in the MEG technology to disrupt the market.
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Segments Covered in this Report
Electrical Activity Testing Regional Outlook ($ Billion, 2015-2033)
- Asia-Pacific
- Europe
- Middle East and Africa
- North America
- South and Central America
Electrical Activity Testing Segment Outlook ($ Billion, 2015-2033)
- Electroencephalographs (EEG)
- Electromyographs (EMG)
- Magnetoencephalographs (MEG)
Key Inclusions of the market model are:
The electrical activity testing market research report includes an insightful review of the key industry trends.
- The electrical activity testing market report offers an annualized market revenue by segment and market outlooks from 2015-2033.
- The report also includes market-level data on units, average selling prices, and market values.
Regional, country, and global electrical activity testing market insights:
- The electrical activity testing market share report offers qualitative insights on global and regional trends. In addition, GlobalData analysts provide unique country-specific insights on the market.
- electrical activity testing market SWOT analysis.
- The report provides trends and electrical activity testing market competitive dynamics.
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Learn about consumer behavior through the detailed overview of segments and the healthcare system. The report also offers information on reimbursement policies and the regulatory landscape.
- Country-specific overview of the healthcare system.
- Country-specific reimbursement policies.
- Country-specific medtech regulatory landscape.
Robust methodologies and sources enable the model to provide an extensive and accurate overview of the market. These syndicated models include demand and supply-side primary sources including Key opinion leaders. In addition, determine market trends through real-world data sources including databases of government procedures and hospital purchasing.
Companies covered: Natus Medical Inc, Nihon Kohden Corp, Cadwell Industries Inc, Medtronic Plc, Moberg Research Inc, MEGIN, Masimo Corp, OT Bioelettronica Srl, The Magstim Co Ltd, TeleEMG, LLC and Others.
Countries covered: United States, United Kingdom, Germany, France, Italy, Spain, Brazil, China, India, Russia, Japan, Australia, Canada, Mexico, South Korea, Denmark, Ireland, Netherlands, New Zealand, South Africa, Sweden, Switzerland, Austria, Belgium, Finland, Israel, Norway, Poland, Portugal, Taiwan, Czech Republic, Greece, Hungary, Turkey, Egypt, Saudi Arabia, United Arab Emirates, Argentina, and Chile.
Scope
- Extensive coverage of the electrical activity testing market under development.
- An exhaustive list of major pipeline products and their details, including product description, licensing and collaboration details, and other developmental activities.
- Reviews of major players involved in the development of the electrical activity testing market and lists all their pipeline projects.
- Coverage of pipeline products based on various stages of development ranging from early development to approved/issued stage.
- Key clinical trial data of ongoing clinical trials specific to pipeline products.
- Recent developments in the segment/industry.
Reasons to Buy
- Understand the COVID-19 impact on electrical activity testing.
- Design your licensing strategies through a review of products, technologies, and companies with the most robust pipeline.
- Develop business strategies by understanding the trends shaping and driving electrical activity testing.
- Understand the trends, innovative product launches, technologies, segments, and companies that will impact the market in the future.
- Formulate effective sales and marketing strategies with a detailed evaluation of electrical activity testing market share by company. Identify strong competitors and create winning strategies to stand out in the global electrical activity testing market.
- Track regional electrical activity testing market sales as well as country-specific transactions from 2015-2033.
- Organize your sales and marketing efforts by identifying the global electrical activity testing market segments that present maximum opportunities. Such details will help to make investments and strategic partnerships.
Nihon Kohden Corp
Cadwell Industries Inc
Medtronic Plc
Moberg Research Inc
MEGIN
Masimo Corp
OT Bioelettronica Srl
The Magstim Co Ltd
TeleEMG, LLC
Others
Frequently asked questions
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What is the electrical activity testing market size in 2023?
The electrical activity testing market size was $1.31 billion in 2023.
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What will the electrical activity testing market CAGR be from 2023 to 2033?
The electrical activity testing market will grow at a CAGR of more than 1% from 2023 to 2033.
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Which segment accounted for the highest share of the electrical activity testing market in 2023?
In 2023, the EEG segment dominated the electrical activity testing market growth.
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Which region dominated the Electrical activity testing market in 2023?
The European electrical activity testing market had the largest share in 2023.
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Which are the key companies operating in the Electrical activity testing market?
The key companies in the electrical activity testing market are Natus Medical Inc., Nihon Kohden Corp, Cadwell Industries Inc., Medtronic Plc, and others.
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