Technavio has been monitoring the neurodiagnostic and monitoring devices market in the US since 2016 and the market is poised to grow by USD 443.81 million during 2020-2024 at a CAGR of over 7% during the forecast period. Request Free Sample Pages
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Technavio has announced its latest market research report titled neurodiagnostic and monitoring devices market in the US 2020-2024 (Graphic: Business Wire)
Read the 130-page research report with TOC on “Neurodiagnostic and Monitoring Devices Market in the US Analysis Report by Product (ICP monitoring devices, EEG devices, EMG devices, and Others), and Segment Forecasts, 2020-2024”.
The market is driven by the increasing incidence and prevalence of neurological conditions. In addition, the paradigm shift toward hybrid brain-computer interface is anticipated to further boost the growth of the neurodiagnostic and monitoring devices market in the US.
Factors such as the lack of immune response, genetic disorders, and bacterial and viral infections can cause a range of neurological disorders such as brain tumors, stroke, Parkinson’s disease, and epilepsy. This is driving the demand for neurodiagnostic and monitoring devices such as MEG, EMG, EEG, and ICP. The increasing number of cases of patients with brain tumors and stroke in the US is driving the need for brain hemorrhage treatment. Stroke can also lead to malignant cerebral edema, which increases the intracranial pressure and brain shift. Intracranial pressure can be monitored using ICP monitoring devices. Thus, the growing use of neurodiagnostic and monitoring devices due to the high prevalence of neurological conditions in the US is expected to drive market growth during the forecast period.
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Major Five Neurodiagnostic and Monitoring Devices Market Companies in the US:
Cadwell Industries Inc.
Cadwell Industries Inc. is headquartered in the US and operates the business under various segments such as EEG, EMG, IONM, and Others. The company offers Arc Apollo EEG system, Sierra Summit EMG, and Arc Essentia EEG system.
Compumedics Ltd. is headquartered in Australia and offers products through the following business units: Sleep Diagnostics, Neurology Diagnostics, MEG, and Others. The company offers Grael 4K PSG:EEG, Xegis EMG/EP, and Grael LT EEG System.
Koninklijke Philips NV
Koninklijke Philips NV is headquartered in the Netherlands and operates under various business segments, namely Diagnosis and Treatment, Connected Care and Health Informatics, Personal Health, and Other. The company offers Reusable EEG Pediatric Cup Electrode and Disposable EEG snap electrode.
Masimo Corp. is headquartered in the US and offers products through its Unified business segment. The company offers Next Generation SedLine brain function monitoring and Masimo O3 regional oximetry.
Medtronic Plc is headquartered in Ireland and has business segments, namely Cardiac and Vascular Group, Minimally Invasive Therapies Group, Restorative Therapies Group, and Diabetes Group. The company offers BIS complete 2-channel monitor, BIS Bilateral Sensor, Becker external drainage and monitoring system, and INVOS 5100C cerebral/somatic oximeter.
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Neurodiagnostic and Monitoring Devices Market in the US Product Outlook (Revenue, USD Million, 2020-2024)
- ICP monitoring devices
- EEG devices
- EMG devices
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