Dublin, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The "Magnetoencephalography Market Size, Share & Trends Analysis Report By Application (Clinical, Research), By End-use (Hospitals, Imaging Centers, Academic & Research Institutes), By Region, And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global magnetoencephalography market size is expected to reach USD 353.9 million by 2028, according to a new report by the publisher The market is expected to expand at a CAGR of 4.6% from 2021 to 2028. The growing frequency of new product launches and the rise in the incidence of neurological disorders such as epilepsy and stroke are key factors driving the market. In addition, the growing geriatric population is also expected to drive the growth of the market, since they are more prone to neurodegenerative diseases. According to the World Health Organization, neurological disorders are a leading cause of death, accounting for 12.0% of all deaths worldwide.
Magnetoencephalography (MEG) technologies detect the weak magnetic fields created in the brain and use them to quantify brain functionality and map brain activity. In a clinical setting, MEG provides several inherent applications. Scans can be performed in a safe and silent atmosphere due to the passive nature of the recordings, which even allows a patient's companion to be present within the shielded area. According to a systematic review of the Global Burden of Disease study published in JAMA Neurology in 2017, non-communicable neurological disorders caused a considerable and growing burden in the United States, thus, expected to boost the market growth.
The market's prominent competitors are acquiring medium and small-sized businesses to expand their product portfolio and enhance their manufacturing capacity. For instance, in December 2020, the Magnetic Shields Limited (MSL) of Kent in partnership with the University of Nottingham has developed Cerca Magnetics Limited, a new spin-out company that will deliver the world's most advanced functional wearable brain scanner to market. It is designed to let people move around freely while being scanned.
Magnetoencephalography Market Report Highlights
- By application, the clinical segment dominated the MEG market and accounted for the largest revenue share of over 56.0% in 2020, and is further expected to continue its dominance throughout the forecast period
- The clinical segment is further sub-segmented into dementia, autism, schizophrenia, multiple sclerosis, stroke, epilepsy, and others, in which the epilepsy sub-segment held the largest market share owing to its increasing prevalence worldwide
- Based on end-use, the hospital segment held the largest revenue share in 2020, owing to the increasing number of hospitals in developing countries and growing competition in healthcare service providers
- The imaging center segment is expected to experience the fastest growth rate during the forecast period due to its convenience, proximity, lower costs to patients, and presence of insurers
- In Asia Pacific, the market is anticipated to witness the fastest CAGR of 5.6% over the forecast period due to the presence of untapped opportunities in the emerging economies of China and India
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Magnetoencephalography Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.1.2. Related/ancillary market outlook
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Reimbursement framework
3.4. Market Dynamics
3.4.1. Market driver analysis
3.4.1.1. Increase in prevalence of neurological disorders
3.4.1.2. Technological advancements
3.4.2. Market restraint analysis
3.4.2.1. High cost of MEG
3.4.2.2. Presence of alternative diagnostic devices
3.5. Magnetoencephalography Market Analysis Tools
3.5.1. Industry Analysis - Porter's
3.5.1.1. Supplier power
3.5.1.2. Buyer power
3.5.1.3. Substitution threat
3.5.1.4. Threat of new entrant
3.5.1.5. Competitive rivalry
3.5.2. PESTEL Analysis
3.5.2.1. Political landscape
3.5.2.2. Technological landscape
3.5.2.3. Economic landscape
3.5.3. Major Deals & Strategic Alliances Analysis
3.5.4. Market Entry Strategies
Chapter 4. Magnetoencephalography Market: Application Estimates & Trend Analysis
4.1. Definitions and Scope
4.1.1. Clinical
4.1.2. Research
4.2. Application Market Share, 2020 & 2028
4.3. Segment Dashboard
4.4. Global Magnetoencephalography Market by Application Outlook
4.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
4.5.1. Clinical
4.5.1.1. Clinical market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.2. Dementia
4.5.1.2.1. Dementia market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.3. Autism
4.5.1.3.1. Autism market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.4. Schizophrenia
4.5.1.4.1. Schizophrenia market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.5. Multiple sclerosis
4.5.1.5.1. Multiple sclerosis market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.6. Stroke
4.5.1.6.1. Stroke market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.7. Epilepsy
4.5.1.7.1. Epilepsy market estimates and forecast 2016 to 2028 (USD Million)
4.5.1.8. Other
4.5.1.8.1. Other market estimates and forecast 2016 to 2028 (USD Million
4.5.2. Research
4.5.2.1. Research market estimates and forecast 2016 to 2028 (USD Million)
Chapter 5. Magnetoencephalography Market: End-use Estimates & Trend Analysis
5.1. Definitions and Scope
5.1.1. Hospitals
5.1.2. Imaging centers
5.1.3. Academic and research institutes
5.2. End-use Market Share, 2020 & 2028
5.3. Segment Dashboard
5.4. Global Magnetoencephalography Market by End Use Outlook
5.5. Market Size & Forecasts and Trend Analyses, 2016 to 2028 for the following
5.5.1. Hospitals
5.5.1.1. Hospitals market estimates and forecast 2016 to 2028 (USD Million)
5.5.2. Imaging centers
5.5.2.1. Imaging centers estimates and forecast 2016 to 2028 (USD Million)
5.5.3. Academic and research institutes
5.5.3.1. Academic and research institutes market estimates and forecast 2016 to 2028 (USD Million)
Chapter 6. Magnetoencephalography Market: Regional Estimates & Trend Analysis
Chapter 7. Competitive Landscape
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Company/Competition Categorization
7.2.1. Innovators
7.3. Vendor Landscape
7.3.1. List of key distributors and channel partners
7.3.2. Key customers
7.3.3. Key company market share analysis, 2020
7.3.4. Compumedics Limited
7.3.4.1. Company overview
7.3.4.2. Financial performance
7.3.4.3. Product benchmarking
7.3.4.4. Strategic initiatives
7.3.5. Croton Healthcare
7.3.5.1. Company overview
7.3.5.2. Financial performance
7.3.5.3. Product benchmarking
7.3.5.4. Strategic initiatives
7.3.6. Ricoh USA, Inc.
7.3.6.1. Company overview
7.3.6.2. Financial performance
7.3.6.3. Product benchmarking
7.3.6.4. Strategic initiatives
7.3.7. CTF MEG International Services LP
7.3.7.1. Company overview
7.3.7.2. Financial performance
7.3.7.3. Product benchmarking
7.3.7.4. Strategic initiatives
7.3.8. FieldLine Inc.
7.3.8.1. Company overview
7.3.8.2. Financial performance
7.3.8.3. Product benchmarking
7.3.8.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/tlhy3c
