Europe EEG Machines Market
The growth of the European EEG machines market is attributed to innovations for automated seizure detection in epilepsy and an increase in neurological disorders. However, the high cost of EEG machines is a key factor restraining the market growth.
The incidence of neurological disorders is significantly rising among older people. However, due to various factors such as stress, genetic mutations, lifestyle habits, and related chronic conditions, the incidences are seen among people of all age groups. It is estimated that there are over 600 neurologic disorders, among which Parkinson's, Huntington's, Alzheimer's, muscular dystrophy, stroke, meningitis, epilepsy, dementia, migraine, and brain tumors are commonly seen. Similarly, the growing geriatric population is expected to influence the incidence of neurological disorders. According to the World Health Organization (WHO) statistics, 2018, the total population over 60 years of age will grow at a rate of 22% by 2050 from 12% in 2015. According to the Federal Interagency Forum on Aging-Related Statistics published in 2016, 35.8% of people aged 85 years and above have moderate or severe memory impairment. Therefore, owing to the above-mentioned statistics, the demand for EEG machines is expected to increase, which, in turn, will propel market growth.
Epilepsy is among the commonly diagnosed neurological disorders among the population across the world. It affects ~2% of the total world's population. However, the diagnosis of epilepsy is merely done in developed countries where the healthcare technologies are well-developed. The diagnosis of epilepsy requires several days of EEG monitoring, which is interpreted by a trained neurologist, a neurophysiologist, or a skilled EEG reader. Epilepsy is undiagnosed in most cases in humans, or the treatment is delayed due to a late diagnosis. Therefore, it is essential to diagnose epilepsy at an early stage.
Technological developments provide a better scope to diagnose epilepsy seizures automatically. Various developments have been undertaken to devise technology for automated epilepsy seizure detection. For instance, in 2017, Google Inc. partnered with Cleveland Clinic's Epilepsy Center to develop an artificial intelligence (AI) system. The collaboration aims to integrate AI with the EEG machines that will help detect epileptic seizures automatically from long-term EEG recordings of patients who have been evaluated in Cleveland Clinic's epilepsy monitoring unit. Such innovations are expected to encourage more developments for EEG machines and create growth opportunities for the market players in the near future.
Countries in Europe were severely affected due to the COVID-19 pandemic. Italy, Spain, and France have reported the highest number of positive cases and have registered the maximum number of deaths.
The EEG machine market witnessed some shortfall at the beginning of the COVID-19 crisis, owing to disruption in supply chain and demand because of lockdowns announced by the majority of European countries. As per the news article by Euronews, in Italy, due to the COVID-19 emergency, access for thousands of cancer patients in need of chemotherapy, scans, transplants, and surgeries has become difficult. According to the research led by Codice Viola a charity that supports pancreatic cancer patients more than 1,000 surgery patient patients' appointments for chemotherapy or radiotherapy were suspended. Additionally, 64% of surgical procedures were postponed, and more than half have had follow-up appointments rescheduled. In the Netherlands, the healthcare system is under stress due to the rising number of COVID-19 patients.
Strategic insights for the Europe EEG Machines provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 321.04 Million |
| Market Size by 2028 | US$ 568.51 Million |
| Global CAGR (2021 - 2028) | 8.5% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe EEG Machines refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The Europe EEG Machines Market is valued at US$ 321.04 Million in 2021, it is projected to reach US$ 568.51 Million by 2028.
As per our report Europe EEG Machines Market, the market size is valued at US$ 321.04 Million in 2021, projecting it to reach US$ 568.51 Million by 2028. This translates to a CAGR of approximately 8.5% during the forecast period.
The Europe EEG Machines Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe EEG Machines Market report:
The Europe EEG Machines Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe EEG Machines Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe EEG Machines Market value chain can benefit from the information contained in a comprehensive market report.
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