Electroencephalography Devices Market Report 2024

The electroencephalography devices market size has grown strongly in recent years. It will grow from $1.11 billion in 2023 to $1.2 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth observed in the historic period can be attributed to several factors, including early discoveries in EEG technology, initial developmental strides, advancements in portable and wireless EEG devices, as well as the emergence of neurofeedback and biofeedback techniques. Additionally, the introduction of consumer-grade EEG devices has played a significant role in expanding the accessibility and applications of EEG technology beyond clinical settings.

The electroencephalography devices market size is expected to see strong growth in the next few years. It will grow to $1.68 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The anticipated growth during the forecast period is due to advancements in research and development, widespread clinical adoption, rising healthcare spending, an aging population, and increased use of consumer wearables. Key trends expected in this period involve the incorporation of advanced signal processing and artificial intelligence, personalized healthcare approaches, integration with virtual reality (VR) and augmented reality (AR), longitudinal monitoring, big data analytics, and combining with other modalities.

The rise in neurological disorders is expected to drive the growth of the electroencephalography device market in the future. Neurological disorders impact the nervous system, including the brain, spinal cord, and nerves throughout the body. Factors contributing to the increasing prevalence of these disorders include an aging population, lifestyle changes, genetic factors, improved diagnostic capabilities, and heightened awareness. Electroencephalography devices play a crucial role in diagnosing and monitoring neurological conditions by recording and analyzing brain electrical activity. They aid in the evaluation and management of conditions such as epilepsy, sleep disorders, and brain injuries. For instance, in October 2023, the World Federation of Neurology reported that more than 40% of the global population suffers from a neurological disorder, a number expected to nearly double by 2050. Therefore, the growing prevalence of neurological disorders is a significant driver of the electroencephalography device market's expansion.

Major companies in the electroencephalography devices market are concentrating on developing innovative products, such as cloud-connected portable recorders, aimed at improving data accessibility and enabling remote monitoring capabilities. A cloud-connected portable recorder is a device that records brain activity and transmits data to cloud servers for storage, analysis, and remote access. For example, in May 2021, Inspira Health Network, a charitable healthcare organization based in the US, introduced the Ceribell rapid-response electroencephalography device. This device is designed to detect and diagnose non-convulsive seizure activity in critically ill patients, ensuring timely and effective treatment. It features a headband equipped with embedded electrodes, a compact recorder with user-friendly software, and a cloud portal for remote monitoring. By utilizing cloud-connected, portable EEG technology, Ceribell facilitates rapid EEG tests to expedite diagnosis and treatment processes.

In January 2024, Aditxt Inc., a US-based life sciences company, acquired the electroencephalography (EEG) brain monitoring assets from Brain Scientific for an undisclosed sum. This acquisition is intended to expand Aditxt's portfolio and capabilities in brain health, strengthening its emphasis on neurological diagnosis and monitoring by incorporating advanced brain monitoring technologies. Brain Scientific Inc., another US-based healthcare company, specializes in commercial-stage electroencephalography devices.

Major companies operating in the electroencephalography devices market are General Electric Company, Philips Healthcare, Nihon Kohden Corporation, Natus Medical Incorporated, Cadwell Industries Inc, NeuroPace Inc., EB Neuro S.p.A., Brain Products GmbH, Lifelines Neuro Company LLC, ANT Neuro BV, BioSemi B.V, Micromed Group, Electrical Geodesics Inc., Thought Technology Ltd, NeuroSky Inc., Compumedics Limited, Neuroelectrics Corp, Advanced Brain Monitoring, Neurosoft Ltd, Artinis Medical Systems, Mitsar Co. Ltd, Wearable Sensing LLC, Emotiv Inc.

North America was the largest region in the electroencephalography devices market in 2023. The regions covered in the electroencephalography devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electroencephalography devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electroencephalography (EEG) devices are medical instruments used to measure and record the electrical activity in the brain. These devices capture electrical signals produced by neuronal activity via electrodes positioned on the scalp. EEG is extensively employed in clinical environments for diagnosing and monitoring conditions such as epilepsy, sleep disorders, brain injuries, and various neurological disorders.

EEG devices come in several types, including portable, standalone, and wearable models. Portable EEG devices are compact and wearable systems designed to monitor and record brain wave activity outside of traditional clinical settings. They are available in various configurations such as 8-channel, 21-channel, 25-channel, 32-channel, 40-channel, and multi-channel setups. These devices are distributed through direct tender and retail sales, serving applications such as trauma and surgery support, disease diagnosis, anesthesia monitoring, sleep analysis, and others. End users of EEG devices include hospitals, diagnostic centers, and other healthcare facilities.

The electroencephalography devices research report is one of a series of new reports that provides electroencephalography devices market statistics, including the electroencephalography devices industry's global market size, regional shares, competitors with an electroencephalography devices market share, detailed electroencephalography devices market segments, market trends and opportunities, and any further data you may need to thrive in the electroencephalography devices industry. This electroencephalography devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The electroencephalography devices market consists of sales of quantitative electroencephalography devices, digital electroencephalography systems, and ambulatory electroencephalography devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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