Wilmington, Delaware, Nov. 09, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, “Brain Mapping Instruments Market by Product Type (Positron Emission Tomography (PET), Computed Tomography, Electroencephalography (EEG), Magnetic Resonance Imaging (MRI), Near-Infrared Spectroscopy (NIRS), and Others), by End User (Ambulatory Centers, Hospitals, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the global brain mapping instruments industry size is anticipated to gain $3.7 billion by 2031, having witnessed a value of $2.1 billion in 2021, exhibiting a CAGR of 6.1% from 2022 to 2031.
Prime Factors Influencing Market Growth:
The global brain mapping instruments market is experiencing significant growth due to the rise of brain diseases like Alzheimer’s, epilepsy, toxic injuries, and tumors, growth in the geriatric population, an increase in the prevalence of neurological disorders among populations, and the rise in the usage of high-tech throughput technologies. On the other hand, the high cost and maintenance of the devices and the shortage of reimbursement plans restrain the market growth to some extent. Moreover, medical device manufacturers are investing more in research and development, as well as increasing their attention on amputation procedures and introducing new products with revolutionary features.
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The computed tomography segment to lead the trail during the forecast timeframe-
By product type, the computed tomography segment held the major market share in 2021, accounting for nearly one-third of the global brain mapping instruments market revenue, and is expected to lead the trail during the forecast period. Due to the increasing incidence of brain disorders, such as stroke, among the general population. The positron emission tomography (PEM) segment, however, would showcase the fastest CAGR of 7.2% from 2022 to 2031. Due to the launch of the newest devices made by the top players in the market, and more government support for affordable health care treatments for patients.
The hospitals segment to maintain its dominance throughout the forecast period-
By end-user, the hospitals segment held the largest market share in 2021, contributing to more than two-fifths of the global brain mapping instruments market revenue, and is anticipated to maintain its dominance throughout the forecast period. The growth is attributed to the high preference of the population to treat diseases within the hospitals and the increase in the number of neurological diseases in the target population. Furthermore, the ambulatory centers segment would exhibit the fastest CAGR of 6.5% from 2022 to 2031. The growth is attributed to the increasing awareness of neurological diseases, the cost-effectiveness of the devices at outpatient centers, and the growing demand for the devices.
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North America garnered the major share by 2031-
By region, North America held the largest market share in 2021, holding more than two-fifths of the global brain mapping instruments market revenue, and is expected to maintain its dominance throughout the forecast period. This is due to the prevalence of neurological disorders, such as seizures and hydrocephalus, among the population has increased notably, and an increasing number of market participants in the region. On the other hand, the Asia-Pacific region would portray the fastest CAGR of 7.4% from 2022 to 2031. This is due to the massive populace of countries like India and China growing the risk of developing brain diseases.
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Industry-Leading Players:
- Medtronic plc
- Compumedics Limited
- BrainScope Company, Inc.
- Siemens AG
- Brain Products GmbH
- Elekta AB
- General Electric Company
- Advanced Brain Monitoring, Inc.
- Koninklijke Philips N.V.
- Nihon Kohden Corporation
This report provides an overview of the leading players in the global brain mapping instruments market. These players have adopted various strategies such as new product launches, expansion, agreements, and others to increase their market penetration and enhance their position in the industry. The report helps to understand the business performance of each market player, the operating segments, the product portfolio, and developments by leading market players.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
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