October 12, 2021
According to the business intelligence report titled ‘Global Magnetoencephalography Market Size study, by Application (Clinical, Research), By End-use (Hospitals, Imaging Centers, Academic & Research Institutes) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global magnetencephalography market is projected to grow significantly between 2021-2027.
Increasing incidence of neurological diseases, growing geriatric populace, and rising prevalence of neurodegenerative illnesses are the key growth stimulants for global magnetoencephalography market.
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As per the Harvard NeuroDiscovery Center, by 2030, a fifth of America’s population will be over 65 years of age. Neurodegenerative diseases are likely to impact 12 million Americans in the next 30 years, if they are left untreated.
For the unversed, magnetoencephalography or MEG is a medical test which detects the magnetic fields created by electric currents in the human brain in a non-invasive manner. This test is essential in mapping brain activity and finding out the specific area of epileptic illness causes.
Furthermore, technical developments in MEG systems and their expanding usage will aid industry growth. Growing research & development efforts will facilitate revenue inflow as well.
On the other hand, high cost of brain scanning techniques & equipment, poor reimbursement policies in emerging economies, and availability of alternative scanners will act as challenges for businesses operating in this domain.
Based on application scope, worldwide magnetoencephalography industry is split into research, and clinical. As per end user spectrum, the business sphere is arrayed into imaging centers, hospitals, and academic & research institutes.
Regionally speaking, North America held majority of global magnetoencephalography market share in the recent past owing to presence of leading companies and launch of new products. Meanwhile, Asia-Pacific market is also likely to record a strong CAGR through 2027, owing to surging demand for advanced imaging equipment and growing incidence of neurological diseases.
Leading players shaping worldwide magnetoencephalography industry dynamics are Compumedics Limited, Ricoh Company Limited, Croton Healthcare LLC, CTF MEG International Services LP, and FieldLine Inc.
Detailed information regarding the listed companies such as their profit margins, product catalogue, growth rate, market share held, product pricing, sales amassed, and latest developments such as alliances, mergers & acquisitions, collaborations, product launches, etc.