The Global Electro-Diagnostic
Devices Market, by Product Type (Electromyogram (EMG), Nerve Conduction (NCS), Electrocardiography
(ECG), Electroencephalography (EEG), Electroretinography (ERG),
Electrogastrography (EGG), and Others), by End User (Hospitals & clinics,
Ambulatory care research centers, Rehabilitation centers, Diagnostic centers
and Others), and by Region (North America, Latin America, Europe, Asia Pacific,
Middle East, and Africa) was valued at US$ 970.66 million in 2017, and is
projected to exhibit a CAGR of 7.5% over the forecast period (2018 - 2026).
Electro-diagnostic devices are used to
diagnose diseases by passively recording the electrical activity of body parts.
Rising prevalence of neuromuscular diseases has boosted growth of the
electro-diagnostic devices market. According to Centers of Disease Control and
Prevention (CDC), Amyotrophic Lateral Sclerosis (ALS), a fatal neuromuscular
disease had prevalence of 5.2 per 100,000 population and a total of 16,583
cases were registered in the U.S. in 2015. Rising awareness regarding early
diagnosis of the neuromuscular diseases has increased the demand for EEG and
EMG procedures into the market. Since recent past, electro-diagnostic devices
have gained popularity in hospitals and ambulatory surgical centers due to high
accuracy over magnetic imaging technologies to diagnose various disease
conditions, which in turn has fuelled growth of the market. Growing geriatric
population across the world is increasing the risk of neuromuscular disorders,
owing to loss of muscle mass and strength, and declining neurophysiological
functions in elderly population. According to report published by United
Nations in 2017, the number of older people within age group 60 years or over
is expected to reach from 962 million globally in 2017, to 2.1 billion in 2050.
Moreover, growing demand for portable devices with accuracy and safety at point
of care settings is expected to drive growth of the electro-diagnostic devices
market during the forecast period.
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Browse 27 Market Data Tables and
14 Figures spread through 145 Pages and in-depth TOC on
"Electro-Diagnostic Devices Market, by Product Type (Electromyogram
(EMG), Nerve Conduction (NCS),
Electrocardiography (ECG), Electroencephalography (EEG), Electroretinography
(ERG), Electrogastrography (EGG) and Others), by End User (Hospitals &
clinics, Ambulatory care research centers, Rehabilitation centers, Diagnostic
centers and Others), and by Region (North America, Latin America, Europe, Asia
Pacific, Middle East, and Africa) - Global Forecast to 2026"
Manufacturers in
electro-diagnostic devices market are focused on expanding their business in
emerging economies such as China, which offers untapped growth opportunities
due to its increasing ageing population. Rising healthcare spending and low
cost of medical treatment in the Asian countries has contributed to the
transformation of medical sector in emerging economies. New entrants in this
market are offering innovative and advanced designs for electro-diagnostic
devices challenging existing players with their technologically advanced
products. Thereby, major players in this market are launching new products and
acquiring smaller companies, to extend their product portfolio and
simultaneously develop their own products by advantage of the core
competencies, thereby expanding their share in the market.
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Report: https://www.coherentmarketinsights.com/market-insight/electro-diagnostic-devices-market-2328
Key Takeaways of the Electro-Diagnostic
Devices Market:
The global electro-diagnostic
devices market is expected to expand at a CAGR of 7.5% during the forecast
period (2018–2026), owing to rising prevalence of degenerative neurological
disorders. According to The ALS Association 2016, over 5,000 people in the U.S.
are diagnosed with ALS annually. Moreover, it is estimated that more than
20,000 Americans have ALS at any given point of time.
Among product type,
Electroencephalography (EEG) segment is expected to hold the major revenue
share in 2018, owing to increasing usage of EEG devices with the hybrid Brain
Computer Interface (BCI) techniques, as they are extensively used with other
brain/non-brain signal acquisition modalities
Among end user, the hospitals
& clinics segment is expected to hold the major revenue share in 2018,
owing to high accuracy of these devices in the early diagnosis of the disease
Major players operating in the
global Electro-Diagnostic Devices market include Medtronic, Abbott, Boston
Scientific Corporation, Siemens Medical Solutions, Philips Medical Systems, GE
Healthcare, Noraxen, Viasys Healthcare, Natus Medical, Cadwell Laboratories
Inc, Compumedics Limited, and Nihon Kohden
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