Magnetoencephalography Market size is expected to reach USD 353.9 million by 2028

 Magnetoencephalography Industry Overview

The global magnetoencephalography market size is expected to reach USD 353.9 million by 2028, according to a new report by Grand View Research, Inc. 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 Market Segmentation

Grand View Research has segmented the global magnetoencephalography market based on application, end-use, and region:

Based on the Application Insights, the market is segmented into Clinical and Research

  • The clinical application segment dominated the market and accounted for the largest revenue share of around 56.0% in 2020. The segment is further expected to continue its dominance during the forecast period, owing to the increasing prevalence of neurodegenerative disorders. MEG in clinical settings delivers precise diagnostic results, with an extremely high spatial and temporal resolution which are frequently superior in clinical settings.
  • The MEG scanner used for epilepsy held the largest market share, since epilepsy is a life-threatening condition, and pre-surgical evaluation of epilepsy is the most well-known clinical application of MEG as it provides valuable information. Epilepsy is the fourth most common neurological disorder in the United States.

Based on the End-use Insights, the market is segmented into Hospitals, Imaging centres, and Academic and research institutes

  • The hospital segment dominated the MEG market and accounted for the largest revenue share of around 36.0% in 2020 pertaining to a large patient pool and the growing adoption of technically advanced MEG scanners by hospitals. 
  • The imaging centers segment is expected to witness a significant growth rate in the market during the forecast period. Low scan costs, lower wait times, the involvement of diagnostic accreditation boards, and the growing reimbursement structure are projected to propel the segment forward throughout the forecast period.

Magnetoencephalography Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Companies Profile & Market Share Insights

The key players are working to improve their product offerings by leveraging important cooperative drives, as well as considering acquisitions and government approvals in order to expand their client base and gain a larger share of the overall industry. 

Some of the prominent players in the magnetoencephalography market include:

  • Compumedics Limited
  • Croton Healthcare
  • Ricoh USA, Inc.
  • CTF MEG International Services LP 
  • FieldLine Inc.

 

Order a free sample PDF of the Magnetoencephalography Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

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