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Brain Mapping Instruments Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)

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  • 120 Pages
  • April 2023
  • Region: Global
  • Mordor Intelligence
  • ID: 5764055

Key Highlights

  • The brain mapping instruments market is expected to grow at a CAGR of 5.8% during the forecast period.
  • COVID-19 is an incomparable global public health emergency that has affected almost every industry. For instance, according to the article published in the Journal of Alzheimer's Diseases in December 2021, COVID-19 is not only confined to the respiratory system but also leads to neurological and neuropsychiatric disorders. This suggests that the virus can affect the central nervous system (CNS), which may result in cognitive impairment after COVID-19 subsides. As a result, neurological diseases worsened in COVID-19 patients. This created a demand for brain mapping instruments - this significantly impacted market growth during the pandemic.
  • The global incidence and prevalence of neurological disorders like dementia, epilepsy, Parkinsonism, Huntington's, multiple sclerosis (MS), brain stroke, and cerebral palsy (CP) increased significantly over the years. Brain disorders are the leading cause of morbidity around the world.
  • For instance, according to the September 2021 update by the World Health Organization (WHO), about 55 million people worldwide were living with dementia in 2021, and nearly 10 million cases are reported every year. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60%-70% of the total cases of dementia. With the growing prevalence of Alzheimer's worldwide, the demand for brain mapping instruments is expected to increase during the forecast period.
  • Additionally, technological advancement in the product and product launches by the key market players is likely to support the market's growth. For instance, in July 2021, Omniscient Neurotechnology, a pioneering brain mapping software company, received United States FDA (USFDA) clearance for Quicktome, a digital brain mapping platform that allows neurosurgeons to visualize and understand a patient's brain network before performing life-changing brain surgery.
  • Additionally, in January 2021, South Korean biomedical start-up iMediSync designed an EEG digital biomarker for the early detection of Alzheimer's dementia on its AI cloud platform. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period.
  • However, the high cost of brain mapping instruments may restrain the market growth.

Brain Mapping Instruments Market Trends

Hospitals Segment is Expected to Grow Faster and Dominate the Market Over the Forecast Period

  • The increase in hospital admission and product launches by the key market players drives the hospital segment. The increasing number of hospitals in the United States is also propelling the market's growth. The American Heart Association (AHA) statistics published in January 2021 reported that there were 951 state and local government community hospitals, and 1,228 investor-owned (for-profit) community hospitals in 2021 in the United States. Such a huge number of hospitals creates the demand for brain mapping instruments and thus is expected to boost the market's growth.
  • Moreover, the increasing launch of technologically advanced products in the market is expected to boost segment growth. For instance, in August 2022, IBS Hospital announced India's first brain mapping technology, connectomics/Quicktome. With the advent of such customized brain mapping, treatment for brain tumors and other brain procedures have become significantly safer, and accuracy has allowed for avoiding harm to critical brain areas.
  • Thus, all aforementioned factors are expected to boost segment growth.

North America Dominates the Market and Expected to do Same in the Forecast Period

  • North America dominates the global brain mapping instruments market owing to the increasing prevalence of neurological disorders, early adoption of technological advancements, and improved healthcare infrastructure in the United States. For instance, as per the Alzheimer's Association 2021, an estimated 6.2 million Americans aged 65 and older had Alzheimer's dementia in the United States in 2021, and the number is expected to reach 12.7 million by 2050.
  • Additionally, according to the 2022 statistics published by CerebralPalsy.org, cerebral palsy affects roughly 8,000 to 10,000 kids born in the United States each year. The demand for brain mapping tools is anticipated to increase due to the population's rising prevalence of neurological illnesses, fostering the market growth.
  • Moreover, the increasing investment by the private players is also boosting the market's growth. For instance, in June 2022, the CAMH, a significant player in brain mapping, launched a campaign in Canada and the United States to seek donor financing and raise mental health awareness to develop effective, personalized medicine.
  • Additionally, in September 2021, Scientists at Washington University School of Medicine in St. Louis joined a national network to map the intricacies of the brain, increase understanding of how the brain works and generate new insights into how the brain functions in healthy people and how it malfunctions in Alzheimer's, schizophrenia, autism, and a variety of other conditions. Thus, the rising prevalence of neurological illnesses is expected to drive the demand for brain mapping instruments, thereby boosting the market growth in the region.

Brain Mapping Instruments Market Competitor Analysis

The brain mapping instrument market is moderately competitive, with several players across the globe. With the increasing patient awareness levels and high prevalence of neurological disorders, many regional players are expected to be part of the brain mapping instrument markets during the forecast period. Some major players operating in the market are General Electric Company, Koninklijke Philips N.V., Siemens Healthineers, Natus Medical Incorporated, Advanced Brain Monitoring, Inc., Medtronic PLC, and Nihon Kohden Corporation.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Neurological Disorders
4.2.2 Rising Technological Advancements
4.2.3 Rise in Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of the Brain Mapping Instruments
4.3.2 Poor Healthcare Insurance Coverage
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Computed Axial Tomography (CAT)
5.1.2 Position Emission Tomography
5.1.3 Electroencephalography (EEG)
5.1.4 Functional Near-Infrared Spectroscopy (fNIRS)
5.1.5 Functional Magnetic Resonance Imaging (fMRI)
5.1.6 Other Products
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America United States Canada Mexico
5.3.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.3.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.3.4 Middle East and Africa GCC South Africa Rest of Middle East and Africa
5.3.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 General Electric Company
6.1.2 Koninklijke Philips N.V.
6.1.3 Siemens Healthineers
6.1.4 Natus Medical Incorporated
6.1.5 Advanced Brain Monitoring, Inc.
6.1.6 Medtronic PLC
6.1.7 Nihon Kohden Corporation
6.1.8 Canon Medical Systems Corp.
6.1.9 NIRx Medical Technologies, LLC
6.1.10 Gowerlabs Ltd.
6.1.11 Soterix Medical Inc.
6.1.12 Artinis Medical Systems

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • General Electric Company
  • Koninklijke Philips N.V.
  • Siemens Healthineers
  • Natus Medical Incorporated
  • Advanced Brain Monitoring, Inc.
  • Medtronic PLC
  • Nihon Kohden Corporation
  • Canon Medical Systems Corp.
  • NIRx Medical Technologies, LLC
  • Gowerlabs Ltd.
  • Soterix Medical Inc.
  • Artinis Medical Systems