The Global Magnetoencephalography Market size is expected to reach $350.1 million by 2028, rising at a market growth of 5.1% CAGR during the forecast period.
The magnetic field measurement created by the electrical activity of neurons is referred to as magnetoencephalography, abbreviated as MEG. In most cases, magnetic resonance imaging is also performed alongside it to get the result known as magnetic source imaging. The superconducting quantum interference detector, which functions similarly to a very sensitive magnetic field meter, is the piece of technology that has been instrumental in recording these extremely minute magnetic fields.
The MEG is housed in a chamber that has been magnetically insulated so that the magnetic noise from the environment may be reduced. Magnetometers and/or gradiometers are the types of sensors used to record magnetic fields. There is no disruption to the MEG fields as they travel through the skull. MEG has this major benefit over electroencephalography, which is a significant advantage. In addition, MEG gives a high resolution both spatially and temporally.
The term 'magnetoencephalography' (MEG) refers to measuring the magnetic fields produced when electric currents flow through the brain. The magnetic field measurements fall somewhere in the femto-tesla to pico-tesla range. The time of neural activity can be resolved with a very high level of precision using MEG. This is a test that is not intrusive in any way.
MEG is a straightforward method of measuring brain activity and has a very high resolution in terms of time. In addition to that, the spatial resolution is relatively high. In order to provide a comprehensive view of the brain's structure, magnetic resonance imaging (MRI) and magnetoencephalography (MEG) are often used in conjunction with one another. Magnetic source imaging is the name given to the process that combines MRI and MEG (MSI). At this time, the only clinical applications that have been authorized for its usage in the United States of America are those involving epilepsy surgery and pre-operative brain mapping. In the United States, epilepsy centers are affiliated with most clinical MEG facilities.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Compumedics Limited, Ricoh Company, Ltd, FieldLine, Inc., MEGIN OY, CTF MEG Neuro Innovations, Inc. and Cerca Magnetics Limited
The magnetic field measurement created by the electrical activity of neurons is referred to as magnetoencephalography, abbreviated as MEG. In most cases, magnetic resonance imaging is also performed alongside it to get the result known as magnetic source imaging. The superconducting quantum interference detector, which functions similarly to a very sensitive magnetic field meter, is the piece of technology that has been instrumental in recording these extremely minute magnetic fields.
The MEG is housed in a chamber that has been magnetically insulated so that the magnetic noise from the environment may be reduced. Magnetometers and/or gradiometers are the types of sensors used to record magnetic fields. There is no disruption to the MEG fields as they travel through the skull. MEG has this major benefit over electroencephalography, which is a significant advantage. In addition, MEG gives a high resolution both spatially and temporally.
The term 'magnetoencephalography' (MEG) refers to measuring the magnetic fields produced when electric currents flow through the brain. The magnetic field measurements fall somewhere in the femto-tesla to pico-tesla range. The time of neural activity can be resolved with a very high level of precision using MEG. This is a test that is not intrusive in any way.
MEG is a straightforward method of measuring brain activity and has a very high resolution in terms of time. In addition to that, the spatial resolution is relatively high. In order to provide a comprehensive view of the brain's structure, magnetic resonance imaging (MRI) and magnetoencephalography (MEG) are often used in conjunction with one another. Magnetic source imaging is the name given to the process that combines MRI and MEG (MSI). At this time, the only clinical applications that have been authorized for its usage in the United States of America are those involving epilepsy surgery and pre-operative brain mapping. In the United States, epilepsy centers are affiliated with most clinical MEG facilities.
COVID-19 Impact Analysis
The rapid spread of COVID-19 has had a detrimental effect on the economy of the whole globe. The spread of the new coronavirus substantially impacts the healthcare business. This is because the majority of healthcare staff were preoccupied with attending to COVID-19 patients. As a direct consequence of these constraints, the supply chains for various medical technology and equipment came to a standstill. In addition, the medical operations that were deemed to be of lesser importance were delayed during the first few years of the programme. As a consequence of this, the market for magnetoencephalography has seen slowed growth.Market Growth Factors
Increasing old aged population
According to the World Health Organization (WHO), by the year 2030, one in six persons around the globe will be at least 60 years old. The percentage of the world's population that is 60 years old or older is expected to rise from 1 billion in the year 2020 to 1.4 billion in the year 2050. The number of persons aged 60 and older throughout the globe is expected to more than quadruple by the year 2050. (2.1 billion). It is anticipated that the population of people who are 80 years old or older will reach a total of 426 million between 2020 and 2050. Although nations with higher incomes were the first to experience what is now known as population aging (a movement in the age distribution of a country's population toward older ages), it is currently low- and middle-income countries that are suffering the most significant change as a result of this trend.The Ever-Increasing Cost of Healthcare
The increase in the number of investments made in the healthcare sector by the governments of a variety of nations, as well as the quantity of those investments, is one of the primary reasons driving the growth of the market. It is projected that more emerging countries will have better access to higher-quality healthcare due to the rapid economic growth of these nations and the rising expenses of healthcare. This is seen as a promising sign of growth for the surgical planning software market, which is expanding. As a result of the growing prevalence of health problems in these countries, there has been an uptick in demand for various treatments and equipment.Market Restraining Factor
Presence of alternate testing equipment
However, MEG is rather expensive and needs liquid helium to keep its superconducting equipment in working order. In comparison to the tens of thousands and hundreds of thousands of MRI and EEG sites worldwide, there are just a relative handful of MEG laboratories. The MEG technology is less accessible to the general public due to its high price and limited availability. Several options than MEG can be chosen from, each of which is much more beneficial and somewhat more affordable.Application Outlook
Based on application, the magnetoencephalography market is classified into clinical and research. In 2021, the research segment accounted for a significant revenue share in the magnetoencephalography market. A magnetoencephalography (MEG) device can record brain activity by detecting and amplifying attractive signals discharged by the brain. Additionally, a MEG device does not emit radiation or generate attractive fields in its surrounding environment.Clinical Outlook
The clinical segment of the magnetoencephalography market is further subdivided into dementia, autism, schizophrenia, multiple sclerosis, stroke, epilepsy, and others. In 2021, the dementia segment acquired the substantial revenue share of the magnetoencephalography market. During the multidisciplinary conference, the findings from the MEG visual analysis are utilized as a supporting diagnostic tool alongside other diagnostic procedure. This is accomplished by linking the results to the clinical differential diagnosis that the neurologist has developed for the patient.End-use Outlook
Based on the end-use, the magnetoencephalography market is categorized into hospitals, imaging centers, and research & academic institutes. In 2021, the imaging centers segment accounted for a significant portion of the total revenue generated in the magnetoencephalography market. It is anticipated that the sector will continue to advance over the projection period due to low scan prices, reduced wait times, the participation of diagnostic accrediting bodies, and an expanding reimbursement structure.Regional Outlook
Based on region, the magnetoencephalography market is classified into North America, Europe, Asia Pacific, and LAMEA region. The North America region led the magnetoencephalography market in 2021 due to the area's ability to generate the highest revenue share. The presence of a large number of market rivals in the area and the high frequency of new product launches appear to contribute to regional market growth.The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Compumedics Limited, Ricoh Company, Ltd, FieldLine, Inc., MEGIN OY, CTF MEG Neuro Innovations, Inc. and Cerca Magnetics Limited
Scope of the Study
Market Segments Covered in the Report:
By Application
- Clinical
- Epilepsy
- Dementia
- Autism
- Stroke
- Multiple Sclerosis
- Schizophrenia
- Others
- Research
By End-use
- Hospitals
- Academic & Research Institutes
- Imaging centres
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Compumedics Limited
- Ricoh Company, Ltd
- FieldLine, Inc
- MEGIN OY
- CTF MEG Neuro Innovations, Inc
- Cerca Magnetics Limited
Unique Offerings
- Exhaustive coverage
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Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Magnetoencephalography Market, by Application
1.4.2 Global Magnetoencephalography Market, by End-use
1.4.3 Global Magnetoencephalography Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Magnetoencephalography Market by Application
3.1 Global Clinical Market by Region
3.2 Global Magnetoencephalography Market by Clinical Type
3.2.1 Global Epilepsy Market by Region
3.2.2 Global Dementia Market by Region
3.2.3 Global Autism Market by Region
3.2.4 Global Stroke Market by Region
3.2.5 Global Multiple Sclerosis Market by Region
3.2.6 Global Schizophrenia Market by Region
3.2.7 Global Others Market by Region
3.3 Global Research Market by Region
Chapter 4. Global Magnetoencephalography Market by End-use
4.1 Global Hospitals Market by Region
4.2 Global Academic & Research Institutes Market by Region
4.3 Global Imaging centres Market by Region
Chapter 5. Global Magnetoencephalography Market by Region
5.1 North America Magnetoencephalography Market
5.1.1 North America Magnetoencephalography Market by Application
5.1.1.1 North America Clinical Market by Country
5.1.1.2 North America Magnetoencephalography Market by Clinical Type
5.1.1.2.1 North America Epilepsy Market by Country
5.1.1.2.2 North America Dementia Market by Country
5.1.1.2.3 North America Autism Market by Country
5.1.1.2.4 North America Stroke Market by Country
5.1.1.2.5 North America Multiple Sclerosis Market by Country
5.1.1.2.6 North America Schizophrenia Market by Country
5.1.1.2.7 North America Others Market by Country
5.1.1.3 North America Research Market by Country
5.1.2 North America Magnetoencephalography Market by End-use
5.1.2.1 North America Hospitals Market by Country
5.1.2.2 North America Academic & Research Institutes Market by Country
5.1.2.3 North America Imaging centres Market by Country
5.1.3 North America Magnetoencephalography Market by Country
5.1.3.1 US Magnetoencephalography Market
5.1.3.1.1 US Magnetoencephalography Market by Application
5.1.3.1.1.1 US Magnetoencephalography Market by Clinical Type
5.1.3.1.2 US Magnetoencephalography Market by End-use
5.1.3.2 Canada Magnetoencephalography Market
5.1.3.2.1 Canada Magnetoencephalography Market by Application
5.1.3.2.1.1 Canada Magnetoencephalography Market by Clinical Type
5.1.3.2.2 Canada Magnetoencephalography Market by End-use
5.1.3.3 Mexico Magnetoencephalography Market
5.1.3.3.1 Mexico Magnetoencephalography Market by Application
5.1.3.3.1.1 Mexico Magnetoencephalography Market by Clinical Type
5.1.3.3.2 Mexico Magnetoencephalography Market by End-use
5.1.3.4 Rest of North America Magnetoencephalography Market
5.1.3.4.1 Rest of North America Magnetoencephalography Market by Application
5.1.3.4.1.1 Rest of North America Magnetoencephalography Market by Clinical Type
5.1.3.4.2 Rest of North America Magnetoencephalography Market by End-use
5.2 Europe Magnetoencephalography Market
5.2.1 Europe Magnetoencephalography Market by Application
5.2.1.1 Europe Clinical Market by Country
5.2.1.2 Europe Magnetoencephalography Market by Clinical Type
5.2.1.2.1 Europe Epilepsy Market by Country
5.2.1.2.2 Europe Dementia Market by Country
5.2.1.2.3 Europe Autism Market by Country
5.2.1.2.4 Europe Stroke Market by Country
5.2.1.2.5 Europe Multiple Sclerosis Market by Country
5.2.1.2.6 Europe Schizophrenia Market by Country
5.2.1.2.7 Europe Others Market by Country
5.2.1.3 Europe Research Market by Country
5.2.2 Europe Magnetoencephalography Market by End-use
5.2.2.1 Europe Hospitals Market by Country
5.2.2.2 Europe Academic & Research Institutes Market by Country
5.2.2.3 Europe Imaging centres Market by Country
5.2.3 Europe Magnetoencephalography Market by Country
5.2.3.1 Germany Magnetoencephalography Market
5.2.3.1.1 Germany Magnetoencephalography Market by Application
5.2.3.1.1.1 Germany Magnetoencephalography Market by Clinical Type
5.2.3.1.2 Germany Magnetoencephalography Market by End-use
5.2.3.2 UK Magnetoencephalography Market
5.2.3.2.1 UK Magnetoencephalography Market by Application
5.2.3.2.1.1 UK Magnetoencephalography Market by Clinical Type
5.2.3.2.2 UK Magnetoencephalography Market by End-use
5.2.3.3 France Magnetoencephalography Market
5.2.3.3.1 France Magnetoencephalography Market by Application
5.2.3.3.1.1 France Magnetoencephalography Market by Clinical Type
5.2.3.3.2 France Magnetoencephalography Market by End-use
5.2.3.4 Russia Magnetoencephalography Market
5.2.3.4.1 Russia Magnetoencephalography Market by Application
5.2.3.4.1.1 Russia Magnetoencephalography Market by Clinical Type
5.2.3.4.2 Russia Magnetoencephalography Market by End-use
5.2.3.5 Spain Magnetoencephalography Market
5.2.3.5.1 Spain Magnetoencephalography Market by Application
5.2.3.5.1.1 Spain Magnetoencephalography Market by Clinical Type
5.2.3.5.2 Spain Magnetoencephalography Market by End-use
5.2.3.6 Italy Magnetoencephalography Market
5.2.3.6.1 Italy Magnetoencephalography Market by Application
5.2.3.6.1.1 Italy Magnetoencephalography Market by Clinical Type
5.2.3.6.2 Italy Magnetoencephalography Market by End-use
5.2.3.7 Rest of Europe Magnetoencephalography Market
5.2.3.7.1 Rest of Europe Magnetoencephalography Market by Application
5.2.3.7.1.1 Rest of Europe Magnetoencephalography Market by Clinical Type
5.2.3.7.2 Rest of Europe Magnetoencephalography Market by End-use
5.3 Asia Pacific Magnetoencephalography Market
5.3.1 Asia Pacific Magnetoencephalography Market by Application
5.3.1.1 Asia Pacific Clinical Market by Country
5.3.1.2 Asia Pacific Magnetoencephalography Market by Clinical Type
5.3.1.2.1 Asia Pacific Epilepsy Market by Country
5.3.1.2.2 Asia Pacific Dementia Market by Country
5.3.1.2.3 Asia Pacific Autism Market by Country
5.3.1.2.4 Asia Pacific Stroke Market by Country
5.3.1.2.5 Asia Pacific Multiple Sclerosis Market by Country
5.3.1.2.6 Asia Pacific Schizophrenia Market by Country
5.3.1.2.7 Asia Pacific Others Market by Country
5.3.1.3 Asia Pacific Research Market by Country
5.3.2 Asia Pacific Magnetoencephalography Market by End-use
5.3.2.1 Asia Pacific Hospitals Market by Country
5.3.2.2 Asia Pacific Academic & Research Institutes Market by Country
5.3.2.3 Asia Pacific Imaging centres Market by Country
5.3.3 Asia Pacific Magnetoencephalography Market by Country
5.3.3.1 China Magnetoencephalography Market
5.3.3.1.1 China Magnetoencephalography Market by Application
5.3.3.1.1.1 China Magnetoencephalography Market by Clinical Type
5.3.3.1.2 China Magnetoencephalography Market by End-use
5.3.3.2 Japan Magnetoencephalography Market
5.3.3.2.1 Japan Magnetoencephalography Market by Application
5.3.3.2.1.1 Japan Magnetoencephalography Market by Clinical Type
5.3.3.2.2 Japan Magnetoencephalography Market by End-use
5.3.3.3 India Magnetoencephalography Market
5.3.3.3.1 India Magnetoencephalography Market by Application
5.3.3.3.1.1 India Magnetoencephalography Market by Clinical Type
5.3.3.3.2 India Magnetoencephalography Market by End-use
5.3.3.4 South Korea Magnetoencephalography Market
5.3.3.4.1 South Korea Magnetoencephalography Market by Application
5.3.3.4.1.1 South Korea Magnetoencephalography Market by Clinical Type
5.3.3.4.2 South Korea Magnetoencephalography Market by End-use
5.3.3.5 Singapore Magnetoencephalography Market
5.3.3.5.1 Singapore Magnetoencephalography Market by Application
5.3.3.5.1.1 Singapore Magnetoencephalography Market by Clinical Type
5.3.3.5.2 Singapore Magnetoencephalography Market by End-use
5.3.3.6 Malaysia Magnetoencephalography Market
5.3.3.6.1 Malaysia Magnetoencephalography Market by Application
5.3.3.6.1.1 Malaysia Magnetoencephalography Market by Clinical Type
5.3.3.6.2 Malaysia Magnetoencephalography Market by End-use
5.3.3.7 Rest of Asia Pacific Magnetoencephalography Market
5.3.3.7.1 Rest of Asia Pacific Magnetoencephalography Market by Application
5.3.3.7.1.1 Rest of Asia Pacific Magnetoencephalography Market by Clinical Type
5.3.3.7.2 Rest of Asia Pacific Magnetoencephalography Market by End-use
5.4 LAMEA Magnetoencephalography Market
5.4.1 LAMEA Magnetoencephalography Market by Application
5.4.1.1 LAMEA Clinical Market by Country
5.4.1.2 LAMEA Magnetoencephalography Market by Clinical Type
5.4.1.2.1 LAMEA Epilepsy Market by Country
5.4.1.2.2 LAMEA Dementia Market by Country
5.4.1.2.3 LAMEA Autism Market by Country
5.4.1.2.4 LAMEA Stroke Market by Country
5.4.1.2.5 LAMEA Multiple Sclerosis Market by Country
5.4.1.2.6 LAMEA Schizophrenia Market by Country
5.4.1.2.7 LAMEA Others Market by Country
5.4.1.3 LAMEA Research Market by Country
5.4.2 LAMEA Magnetoencephalography Market by End-use
5.4.2.1 LAMEA Hospitals Market by Country
5.4.2.2 LAMEA Academic & Research Institutes Market by Country
5.4.2.3 LAMEA Imaging centres Market by Country
5.4.3 LAMEA Magnetoencephalography Market by Country
5.4.3.1 Brazil Magnetoencephalography Market
5.4.3.1.1 Brazil Magnetoencephalography Market by Application
5.4.3.1.1.1 Brazil Magnetoencephalography Market by Clinical Type
5.4.3.1.2 Brazil Magnetoencephalography Market by End-use
5.4.3.2 Argentina Magnetoencephalography Market
5.4.3.2.1 Argentina Magnetoencephalography Market by Application
5.4.3.2.1.1 Argentina Magnetoencephalography Market by Clinical Type
5.4.3.2.2 Argentina Magnetoencephalography Market by End-use
5.4.3.3 UAE Magnetoencephalography Market
5.4.3.3.1 UAE Magnetoencephalography Market by Application
5.4.3.3.1.1 UAE Magnetoencephalography Market by Clinical Type
5.4.3.3.2 UAE Magnetoencephalography Market by End-use
5.4.3.4 Saudi Arabia Magnetoencephalography Market
5.4.3.4.1 Saudi Arabia Magnetoencephalography Market by Application
5.4.3.4.1.1 Saudi Arabia Magnetoencephalography Market by Clinical Type
5.4.3.4.2 Saudi Arabia Magnetoencephalography Market by End-use
5.4.3.5 South Africa Magnetoencephalography Market
5.4.3.5.1 South Africa Magnetoencephalography Market by Application
5.4.3.5.1.1 South Africa Magnetoencephalography Market by Clinical Type
5.4.3.5.2 South Africa Magnetoencephalography Market by End-use
5.4.3.6 Nigeria Magnetoencephalography Market
5.4.3.6.1 Nigeria Magnetoencephalography Market by Application
5.4.3.6.1.1 Nigeria Magnetoencephalography Market by Clinical Type
5.4.3.6.2 Nigeria Magnetoencephalography Market by End-use
5.4.3.7 Rest of LAMEA Magnetoencephalography Market
5.4.3.7.1 Rest of LAMEA Magnetoencephalography Market by Application
5.4.3.7.1.1 Rest of LAMEA Magnetoencephalography Market by Clinical Type
5.4.3.7.2 Rest of LAMEA Magnetoencephalography Market by End-use
Chapter 6. Company Profiles
6.1 Compumedics Limited
6.1.1 Company Overview
6.1.2 Financial Analysis
6.1.3 Regional Analysis
6.1.4 Research & Development Expenses
6.1.5 Recent strategies and developments:
6.1.5.1 Approvals and Trials:
6.1.5.2 Partnerships, Collaborations and Agreements:
6.2 Ricoh Company, Ltd
6.2.1 Company Overview
6.2.2 Financial Analysis
6.2.3 Segmental and Regional Analysis
6.2.4 Research & Development Expenses
6.3 FieldLine, Inc.
6.3.1 Company Overview
6.3.2 Recent strategies and developments:
6.3.2.1 Product Launches and Product Expansions:
6.4 MEGIN OY
6.4.1 Company Overview
6.5 CTF MEG Neuro Innovations, Inc.
6.5.1 Company Overview
6.6 Cerca Magnetics Limited
6.6.1 Company Overview
Companies Mentioned
- Compumedics Limited
- Ricoh Company, Ltd
- FieldLine, Inc.
- MEGIN OY
- CTF MEG Neuro Innovations, Inc.
- Cerca Magnetics Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 206 |
| Published | January 2023 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value ( USD | $ 248.7 Million |
| Forecasted Market Value ( USD | $ 350.1 Million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 6 |
