Brain mapping can be conceived as a higher form of neuroimaging, producing brain images supplemented by the result of additional (imaging or non-imaging) data processing or analysis, such as measures of behavior in brain regions. The increasing integration of advanced technology in the healthcare facilities for better treatment owing to an increasing market size of brain imaging instruments. Furthermore, the rising prevalence of brain disorders coupled with the increasing efforts to understand the brain complexities for future disease treatment catalyzing the market growth of brain mapping instruments. For instance, as per the CDC, every year, more than 795,000 people in the United States have a stroke. About 610,000 of these are first or new strokes.
The brain mapping instruments market is expected to grow at a steady rate of around 13% owing to rising brain diseases and the adoption of advanced diagnostic equipment. Major companies in the market that offer Brain Mapping Instruments are Medtronic, General Electric Company, Koninklijke Philips N.V., Siemens Healthcare Private Limited, and Advanced Brain Monitoring Inc.
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According to UnivDatos Market Insights (UMI)’ research report “Global Brain Mapping Instruments Market”, the market is expected to witness robust growth during the forecast period (2022-2028). This is mainly due to the growing incidences of chronic diseases and rising investment in clinical research.
Based on the product type, the market has been categorized into functional magnetic resonance imaging (fMRI), computed axial tomography (CAT), electroencephalography (EGG), magnetoencephalography, functional near-infrared spectroscopy (fNIRS), positron emission tomography (PET), and others. Among them, the electroencephalography segment is expected to have significant growth in the market. The EEG measures the electrical activity of the brain, and it is helpful in the diagnosis of many diseases including seizures, sleep disorders, strokes, and others. The rising prevalence of sleeping disorders coupled with the increasing number of stroke incidents are attributed to the rising market the brain mapping instruments.
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Based on the end-users, the market has been categorized into hospitals, diagnostic centers, and others. Among them, the diagnostic center’s segment is expected to have significant growth in the market. The increasing number of brain diseases along with the integration of advanced technology in the diagnostic centers responsible for the segmental growth in the brain mapping instruments. According to the World Health Organization (WHO), the global prevalence of epilepsy and multiple sclerosis was calculated at 50 million and 2.5 million respectively.
North America to witness extensive growth
For a better understanding of the market adoption of the brain mapping instruments industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America constitutes a significant brain mapping instruments market due to the increasing RD activities and frequent product launches in the region. Furthermore, the changing lifestyle in the region is affecting the sleep cycle of the people and leads to the shortening of sleep which ultimately cause different mental and neurological disorders. For instance, as per the Canadian government, 1 in 2 adults have trouble going to sleep or staying asleep and 1 in 5 adults does not find their sleep refreshing.
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the brain mapping instruments market are Medtronic, General Electric Company, Koninklijke Philips N.V., Siemens Healthcare Private Limited, and Advanced Brain Monitoring Inc.
“Global Brain Mapping Instruments Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.
Market Segmentation:
- By Product type (Functional Magnetic Resonance Imaging (fMRI), Computed Axial Tomography (CAT), Electroencephalography (EGG), Magnetoencephalography, Functional Near-Infrared Spectroscopy (fNIRS), Positron Emission Tomography (PET), and Others)
- By End-users (Hospitals, Diagnostic Centers, and Others)
- By Region (North America, Europe, Asia-Pacific, Rest of the World)
- By Company (Medtronic, General Electric Company, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Advanced Brain Monitoring Inc., Natus Medical, Inc., Covidien PLC., Nihon Kohden Corporation, Canon Medical Systems Corp., and Cadwell Industries Inc.)
Key questions answered in the study:
- What are the current and future trends of the global brain mapping instruments industry?
- How the industry has been evolving in terms of product type and end-users?
- How the competition has been shaping across the countries followed by their comparative factorial indexing?
- What are the key growth drivers and challenges for the global brain mapping instruments industry?
- What is the customer orientation, purchase behavior, and expectations from the global suppliers across various region and countries?
