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Magnetoencephalography Market by Application, by End-user, and by Region - Global Forecast to 2023-2033

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    Report

  • 200 Pages
  • January 2023
  • Region: Global
  • Quintana Research and Consulting
  • ID: 5717236
The magnetoencephalography market size is estimated to be USD 305.47 million in 2022 and is expected to witness a CAGR of 5.94% during the forecast period 2023-2033. Rising incidence of neurological disorders, technological advancements, and surge in product launches are some of the factors are projected to drive the market growth in near future. Furthermore, increasing research and development efforts and recent improvements in hardware and computer power are other factors supporting the market growth. However, high price of magnetoencephalography and presence of alternatives are predicted to limit market growth.

Increasing research and development efforts is expected to fuel the market growth during the projected period. For instance, a new approach of processing magnetoencephalography (MEG) data has been provided by the HSE Institute for Cognitive Neuroscience, which enables more accurate identification of cortical activation zones. In both basic research and clinical practise, the technique can be used to identify a wide range of neurological conditions and to get patients ready for brain surgery.

Recent improvements in hardware and computer power is predicted to fuel the market growth during the forecast period. Despite the fact that the technology has been available for a while, recent improvements in hardware and computer power have increased interest in scanners. 200 MEG scanners are currently in service globally, and the number is rising. For instance, MEGIN announced in January 2022 that it had sold the Norman Fixel Institute for Neurological Diseases at University of Florida Health its TRIUXTM neo magnetoencephalography (MEG) equipment (UF Health).

Segmentation

By Application

The market is categorized into research and clinical. In 2022, the clinical segment accounted for the highest revenue share due to the rising frequency of neurodegenerative disorders. MEG provides highly accurate diagnostic results with exceptional spatial and temporal resolution in clinical settings, which are frequently superior. Dementia, autism, schizophrenia, multiple sclerosis, stroke, epilepsy, and other conditions are subdivided under the clinical segment. As epilepsy is a potentially fatal disorder and presurgical evaluation of epilepsy is the most well-known clinical application of MEG as it gives useful information, the MEG scanner used for epilepsy held the biggest market share. The fourth most prevalent neurological disorder in the US is epilepsy. In recent years, research on human brain development has increased due to the accessibility of MEG scanners for studying the anatomy and function of the developing brain. For instance, researchers from the HSE Institute for Cognitive Neuroscience proposed a novel method for MEG data processing in February 2021, allowing for more precise identification of cortical activation regions. The aforementioned factors are anticipated to encourage market expansion throughout the course of the forecast period.

By End User

The market is categorized into academic and research institutes, hospitals, and imaging centres. In the global market, the hospitals segment accounted for the largest revenue share in 2022 owing to large patient base and an increasing hospital acceptance of technically advanced MEG scanners. The imaging centres segment is anticipated to expand at a high rate during the projection period. For instance, the Ricoh manufacturer's first magnetoencephalography system to be installed in the United States was at Royal Oak Beaumont Hospital in July 2021. Segment expansion is probably going to be fueled by escalating competition and expanding demand for advanced healthcare services in the upcoming years due to due to the factors such as reduced scan costs, short wait times, the involvement of diagnostic accreditation bodies, and the expanding reimbursement structure.

Regional Markets

In 2022, North America region accounted for the highest revenue in the magnetoencephalography market and is expected to maintain its dominance during the forecast period. This is attributed to presence of a sizable number of market players in the area and the frequent introduction of new product releases. Additionally, the quality of healthcare and patient outcomes are major concerns in the United States, and numerous projects have been created to address these issues. The fact that North America spends substantially more on healthcare than any other nation is another factor boosting the industry. The magnetoencephalography market in Asia Pacific is predicted to exhibit the fastest CAGR over the course of the projected year due to the rising demand for better imaging devices and increasing prevalence of neurological disorders.

Competitor Insights

Some of the key players operating in the magnetoencephalography market are CTF MEG INTERNATIONAL SERVICES LP, Ricoh USA, Inc., MEGIN, FieldLine Inc., Compumedics Limited, and Cerca Magnetics Limited.

To achieve a competitive edge, these companies are implementing a variety of growth strategies. Strategic partnerships, alliances, and agreements with different businesses and research institutions are seen to be the main strategies used by companies in this sector.

For instance, Compumedics Limited's Orion LifeSpanTM Magnetoencephalography (MEG) single Dewar system approved by the US Food and Drug Administration (FDA) in February 2020. A neuroimaging technique named MEG uses magnetic fields created by electrical currents that spontaneously flow through the brain to map brain activity.

This comprehensive research report focuses on the global and regional market size and forecasts of diverse segments including application and end user from 2022 to 2033.

Segmentation: Magnetoencephalography Market Report 2022 - 2033

Application (Revenue, USD Million), 2022 - 2033

  • Research

Clinical

  • Autism
  • Dementia
  • Multiple Sclerosis
  • Stroke
  • Epilepsy
  • Schizophrenia
  • Others

End user (Revenue, USD Million), 2022 - 2033

  • Academic and Research Institutes
  • Hospitals
  • Imaging centres

By Region (Revenue, USD Million), 2022 - 2033

North America

  • U.S.
  • Canada

Europe

  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of APAC

Latin America

  • Brazil
  • Mexico
  • Argentina
  • Rest of LATAM

Middle East & Africa

  • South Africa
  • GCC
  • Rest of MEA

Table of Contents

1. Research Methodology
1.1. Study Objectives
1.2. Study Scope
1.3. Research Framework
1.3.1. Research Models
1.3.1.1. Bottom-up Approach
1.3.1.2. Top-down Approach
1.3.1.3. Data Triangulation
1.3.2. Data Analysis
1.3.2.1. Data Validation
1.3.2.2. Market Size Estimation
1.3.2.3. Market Forecast Model

2. Introduction: Magnetoencephalography

3. Executive Summary

4. Market Dynamics
4.1. Market Drivers
4.1.1. Driver 1
4.1.2. Driver 2
4.1.3. Driver 3
4.1.4. Driver 4
4.1.5. Driver 5
4.2. Market Restraint
4.2.1. Restraint 1
4.2.2. Restraint 2
4.2.3. Restraint 3
4.2.4. Restraint 4
4.3. Market Opportunities
4.3.1. Opportunity 1
4.3.2. Opportunity 2
4.3.3. Opportunity 3
4.3.4. Opportunity 4
4.4. Market Trends
4.4.1. Trend 1
4.4.2. Trend 2
4.4.3. Trend 3
4.4.4. Trend 4
4.5. Market Challenges
4.5.1. Challenge 1
4.5.2. Challenge 2
4.5.3. Challenge 3
4.5.4. Challenge 4

5. Market Environment Analysis
5.1. Porter’s 5 Forces Analysis
5.2. PESTEL Analysis
5.3. SWOT Analysis

6. COVID-19 Impact Analysis: Magnetoencephalography Market

7. Market Analysis by Application
7.1. Research
7.1.1. Research Market Forecast, 2022-2033 (USD Million)
7.2. Clinical
7.2.1. Clinical Market Forecast, 2022-2033 (USD Million)
7.2.1.1. Autism
7.2.1.1.1. Autism Market Forecast, 2022-2033 (USD Million)
7.2.1.2. Dementia
7.2.1.2.1. Dementia Market Forecast, 2022-2033 (USD Million)
7.2.1.3. Multiple Sclerosis
7.2.1.3.1. Multiple Sclerosis Market Forecast, 2022-2033 (USD Million)
7.2.1.4. Stroke
7.2.1.4.1. Stroke Market Forecast, 2022-2033 (USD Million)
7.2.1.5. Epilepsy
7.2.1.5.1. Epilepsy Market Forecast, 2022-2033 (USD Million)
7.2.1.6. Schizophrenia
7.2.1.6.1. Schizophrenia Market Forecast, 2022-2033 (USD Million)
7.2.1.7. Schizophrenia
7.2.1.7.1. Schizophrenia Market Forecast, 2022-2033 (USD Million)

8. Market Analysis by End User
8.1. Academic and Research Institutes
8.1.1. Academic and Research Institutes Market Forecast, 2022-2033 (USD Million)
8.2. Hospitals
8.2.1. Hospitals Market Forecast, 2022-2033 (USD Million)
8.3. Imaging centres
8.3.1. Imaging centres Market Forecast, 2022-2033 (USD Million)

8. Regional Market Analysis
8.1. Regional Market Trends

9. North America Magnetoencephalography Market
9.1. North America Magnetoencephalography Market
9.1.1. North America Market Size and Forecast, 2022-2033 (USD Million)
9.1.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
9.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
9.2. U.S. Magnetoencephalography Market
9.2.1. U.S. Market Size and Forecast, 2022-2033 (USD Million)
9.2.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
9.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
9.3. Canada Magnetoencephalography Market
9.3.1. Canada Market Size and Forecast, 2022-2033 (USD Million)
9.3.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
9.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

10. Europe Magnetoencephalography Market
10.1. Europe Magnetoencephalography Market
10.1.1. Europe Market Size and Forecast, 2022-2033 (USD Million)
10.1.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.2. Germany Magnetoencephalography Market
10.2.1. Germany Market Size and Forecast, 2022-2033 (USD Million)
10.2.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.3. UK Magnetoencephalography Market
10.3.1. UK Market Size and Forecast, 2022-2033 (USD Million)
10.3.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.4. France Magnetoencephalography Market
10.4.1. France Market Size and Forecast, 2022-2033 (USD Million)
10.4.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.5. Spain Magnetoencephalography Market
10.5.1. Spain Market Size and Forecast, 2022-2033 (USD Million)
10.5.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.6. Italy Magnetoencephalography Market
10.6.1. Italy Market Size and Forecast, 2022-2033 (USD Million)
10.6.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.6.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
10.7. Rest of Europe Magnetoencephalography Market
10.7.1. Rest of Europe Market Size and Forecast, 2022-2033 (USD Million)
10.7.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
10.7.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

11. Asia Pacific Magnetoencephalography Market
11.1. Asia Pacific Magnetoencephalography Market
11.1.1. Asia Pacific Market Size and Forecast, 2022-2033 (USD Million)
11.1.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.2. Japan Magnetoencephalography Market
11.2.1. Japan Market Size and Forecast, 2022-2033 (USD Million)
11.2.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.3. China Magnetoencephalography Market
11.3.1. China Market Size and Forecast, 2022-2033 (USD Million)
11.3.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.4. India Magnetoencephalography Market
11.4.1. India Market Size and Forecast, 2022-2033 (USD Million)
11.4.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.5. South Korea Magnetoencephalography Market
11.5.1. South Korea Market Size and Forecast, 2022-2033 (USD Million)
11.5.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.5.1.3. Market Size and Forecast by Device, 2022-2033 (USD Million)
11.6. Australia Magnetoencephalography Market
11.6.1. Australia Market Size and Forecast, 2022-2033 (USD Million)
11.6.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.6.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
11.7. Rest of Asia Pacific Magnetoencephalography Market
11.7.1. Rest of Asia Pacific Market Size and Forecast, 2022-2033 (USD Million)
11.7.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
11.7.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

12. Latin America Magnetoencephalography Market
12.1. Latin America Magnetoencephalography Market
12.1.1. Latin America Market Size and Forecast, 2022-2033 (USD Million)
12.1.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
12.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.2. Brazil Magnetoencephalography Market
12.2.1. Brazil Market Size and Forecast, 2022-2033 (USD Million)
12.2.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
12.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.3. Mexico Magnetoencephalography Market
12.3.1. Mexico Market Size and Forecast, 2022-2033 (USD Million)
12.3.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
12.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.4. Argentina Magnetoencephalography Market
12.4.1. Argentina Market Size and Forecast, 2022-2033 (USD Million)
12.4.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
12.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
12.5. Rest of Latin America Magnetoencephalography Market
12.5.1. Rest of Latin America Market Size and Forecast, 2022-2033 (USD Million)
12.5.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
12.5.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

13. MEA Magnetoencephalography Market
13.1. MEA Magnetoencephalography Market
13.1.1. MEA Market Size and Forecast, 2022-2033 (USD Million)
13.1.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
13.1.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.2. GCC Magnetoencephalography Market
13.2.1. GCC Market Size and Forecast, 2022-2033 (USD Million)
13.2.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
13.2.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.3. South Africa Magnetoencephalography Market
13.3.1. South Africa Market Size and Forecast, 2022-2033 (USD Million)
13.3.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
13.3.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)
13.4. Rest of MEA Magnetoencephalography Market
13.4.1. Rest of MEA Market Size and Forecast, 2022-2033 (USD Million)
13.4.1.1. Market Size and Forecast by Application, 2022-2033 (USD Million)
13.4.1.2. Market Size and Forecast by End User, 2022-2033 (USD Million)

14. Competitor Analysis
14.1. Market Share Analysis, 2022
14.2. Major Recent Developments, 2019-2022

15. Company Profiles
15.1. CTF MEG INTERNATIONAL SERVICES LP
15.1.1. Company Snapshot
15.1.2. Company Overview
15.1.3. Financials
15.1.4. Product Benchmarking
15.1.5. Recent Developments
15.2. Ricoh USA, Inc.
15.2.1. Company Snapshot
15.2.2. Company Overview
15.2.3. Financials
15.2.4. Product Benchmarking
15.2.5. Recent Developments
15.3. MEGIN
15.3.1. Company Snapshot
15.3.2. Company Overview
15.3.3. Financials
15.3.4. Product Benchmarking
15.3.5. Recent Developments
15.4. Compumedics Limited
15.4.1. Company Snapshot
15.4.2. Company Overview
15.4.3. Financials
15.4.4. Product Benchmarking
15.4.5. Recent Developments
15.5. Cerca Magnetics Limited
15.5.1. Company Snapshot
15.5.2. Company Overview
15.5.3. Financials
15.5.4. Product Benchmarking
15.5.5. Recent Developments
15.6. FieldLine Inc.
15.6.1. Company Snapshot
15.6.2. Company Overview
15.6.3. Financials
15.6.4. Product Benchmarking
15.6.5. Recent Developments
15.7. Company 7
15.7.1. Company Snapshot
15.7.2. Company Overview
15.7.3. Financials
15.7.4. Product Benchmarking
15.7.5. Recent Developments
15.8. Company 8
15.8.1. Company Snapshot
15.8.2. Company Overview
15.8.3. Financials
15.8.4. Product Benchmarking
15.8.5. Recent Developments
15.9. Company 9
15.9.1. Company Snapshot
15.9.2. Company Overview
15.9.3. Financials
15.9.4. Product Benchmarking
15.9.5. Recent Developments
15.10. Company 10
15.10.1. Company Snapshot
15.10.2. Company Overview
15.10.3. Financials
15.10.4. Product Benchmarking
15.10.5. Recent Developments
15.11. Company 11
15.11.1. Company Snapshot
15.11.2. Company Overview
15.11.3. Financials
15.11.4. Product Benchmarking
15.11.5. Recent Developments
15.12. Company 12
15.12.1. Company Snapshot
15.12.2. Company Overview
15.12.3. Financials
15.12.4. Product Benchmarking
15.12.5. Recent Developments
15.13. Company 13
15.13.1. Company Snapshot
15.13.2. Company Overview
15.13.3. Financials
15.13.4. Product Benchmarking
15.13.5. Recent Developments
15.14. Company 14
15.14.1. Company Snapshot
15.14.2. Company Overview
15.14.3. Financials
15.14.4. Product Benchmarking
15.14.5. Recent Developments
15.15. Company 15
15.15.1. Company Snapshot
15.15.2. Company Overview
15.15.3. Financials
15.15.4. Product Benchmarking
15.15.5. Recent Developments
15.16. Others Prominent Players

16. Conclusion & Recommendations

Companies Mentioned

A selection of companies mentioned in this report includes:

  • CTF MEG INTERNATIONAL SERVICES LP
  • Ricoh USA Inc.
  • MEGIN
  • FieldLine Inc.
  • Compumedics Limited
  • Cerca Magnetics Limited.