Insights into Neurophysiology Devices And Equipment Market: Global Trends and Analysis

The neurophysiology devices and equipment market size has grown strongly in recent years. It will grow from $1.5 billion in 2023 to $1.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to rising prevalence of neurological disorders, increasing demand for early diagnosis, aging population, rising prevalence of chronic diseases.

The neurophysiology devices and equipment market size is expected to see strongly grown in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to personalized medicine, neurological research growth, neurorehabilitation, growing investment in neurophysiology infrastructure, growing demand for cloud-based neurophysiology solutions. Major trends in the forecast period include advances in neurophysiology technology, non-invasive brain stimulation, miniaturization and portability, functional neuroimaging, wireless and wearable devices, neural interface technology, clinical research and drug development.

Market Overview -
The neurophysiology devices and equipment deal with different functions of the nervous system such as spinal cord and peripheral nerve dysfunction brain alterations and nerve damage.

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Rising Prevalence Of Neurological Disorders Fueling The Neurophysiology Device Market
The major factor responsible for the growth of the neurophysiology device and equipment market is the increasing prevalence of neurological disorders, worldwide. Neurological disorders are identified as one of the most prevalent disorders out of all the recurring ailments. There are more than 600 neurological disorders like brain tumors, epilepsy, Parkinson's disease, Alzheimer's, etc. These disorders were ranked as the leading cause group of Disability Adjusted Life Years (DALYs), which is the number of years lost due to ill-health, disability, or early death. The increasing number of cases of neurological diseases and the growing count of patients are leading to the increasing demand for the devices used in the treatment of such disorders. For example, as per the National Brain Tumor Society, around 83,570 people in the USA were suffering from Brain Tumors in 2021. This would increase the demand for medical devices used in the treatment of neurological disorders, thus driving the Neurophysiology device and equipment market during the forecast period.

Competitive Landscape -
Major companies operating in the neurophysiology devices and equipment market include Medtronic Plc, Nihon Kohden Corporation, Dr. Langer Medical Gmbh, Natus Medical Incorporated, Inomed Medizintechnik, NuVasiveInc, Axon Healthcare Ltd., Bovie Medical Corporation, Neurosign, Neurowave Systems, Cadwell Industries, Brainsway, Checkpoint Surgical, Deymed diagnostic Inc., Langer Medical GmbH, EMS Biomedical, Halyard Health, Compumedics Limited, Magtism, Erbe Elektromedizi, Langer Medical, Shanghai NCC Medical, Ambu, Blackrock Microsystems, Cognionics, Morningside Medical Equipment, BeckerSmith Medical, Cognivue, Helius Medical Technologies, inTRAvent Medical Partners, Neural Diagnostics Pty Ltd, Irras AB

Pioneering Advancements In Neurophysiology Equipment
Companies in the neurophysiology devices and equipment market are investing in the advancement of technology to increase the efficiency of these devices. There have been plenty of innovations in brain monitoring devices, for instance, EEG monitoring, Brain Simulation therapies, and Intraoperative Neurophysiological Monitoring. New technological innovations are enabling the development of devices that are integrating or adopting processes such as advanced neuroimaging techniques, stem cell therapies, molecular interventions, and microbiome technologies. There is also a trend of portable and wearable device technology assisting in home-based monitoring for ailments such as epilepsy and sleep apnea. For example, in March 2022, Braintale, a Paris-based developer of brain medication, launched brainTale-care platform. The platform is dedicated tto white matter quantification and brainScore-comaoffering that predicts coma.

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Key Segments -

The neurophysiology devices and equipment market covered in this report is segmented -

1) By Technology: Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECoG), Evoked potential (EP)
2) By Modality: Standalone, Portable
3) By End Users: Hospitals, Ambulatory Surgical Centers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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