Global Electro-Diagnostic Devices Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
“Global Electro-Diagnostic Devices Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global electro-diagnostic devices market report has been segmented on the basis of product type, end user, and region.
Global Electro-Diagnostic Devices Market: Overview
Electrodiagnosis is the field of study that studies human neurophysiology by employing the science of electrophysiology that uses electrical technology. Neurodiagnostics (NDS), evoked potentials (EPs), and electromyography (EMG) are the major parts of electrodiagnosis. These devices help physicians in order to evaluate several conditions such as neuromuscular junction disorder, myopathy, plexopathy, and neuropathy.
Global Electro-Diagnostic Devices Market: Dynamics
Rising demand for electro-diagnostic devices, owing to increasing incidences of neurodegenerative disorder among aging population such as Parkinson's and Alzheimer's disease is a major factor expected to drive growth of the global market over the forecast period. According to the Alzheimer’s Association, in 2017, around 700,000 Americans under the age group of ≥65 years died with Alzheimer's disease (AD), and many of them died due to the complications caused by AD.
In addition, increasing incidences of neuromuscular diseases such as Amyotrophic Lateral Sclerosis (ALS), muscular dystrophy, and multiple sclerosis is another factor expected to further fuel growth of the target market in the near future.
Furthermore, innovative product launches and technological advancements such as advanced EEG equipment coupled with new features such as ease of handling and precision monitoring are some other factors expected to boost growth of this market over the forecast period. Moreover, growing geriatric population along with increasing risk of neuromuscular disorders is another factor expected to propel growth of the market during the forecast period.
However, high installation and maintenance cost and lack of skilled professionals are major factors expected to restrain growth of the global market over the forecast period. In addition, stringent regulatory policies regarding medical electrodes and their usage are some other factor expected to hamper growth of the target market during the forecast period.
Increasing manufacturers focus towards launching innovative products and acquiring smaller companies in order to expand their existing product portfolio are expected to create opportunities for market players to strengthen their position in the target market over the forecast period. In addition, new players in this market offers innovative and advanced designs for electro-diagnostic devices.
Global Electro-Diagnostic Devices Market: Segment Analysis
On the basis of end user, the hospitals & clinics segment is expected to register significant share in terms of revenue over the forecast period.
Global Electro-Diagnostic Devices Market: Regional Analysis
The market in North America is expected dominate the global electro-diagnostic devices market in terms of revenue, owing to technological advancements coupled with well-established healthcare infrastructure and growing awareness of advanced medical devices across various countries in the region. Moreover, increasing number of neurological diseases area is another factor expected to fuel growth of the market in this region in the near future. The market in Asia Pacific is expected to witness fastest growth in terms of revenue over the forecast period, owing to rising patient pool, increasing healthcare expenditure, and rising demand for better electro-diagnostics device across various countries in the region
Global Electro-Diagnostic Devices Market Segmentation:
Segmentation by product type:
- Electromyogram (EMG)
- Nerve Conduction (NCS)
- Electrocardiography (ECG)
- Electroencephalography (EEG)
- Electroretinography (ERG)
- Electrogastrography (EGG)
Segmentation by end user:
- Hospitals & clinics
- Ambulatory care research centers
- Rehabilitation centers
- Diagnostic centers
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- Medtronic, Inc.
- Abbott Laboratories
- Boston Scientific Corporation
- Siemens Medical Solutions AG
- Philips Medical Systems Limited
- GE Healthcare, Inc.
- VIASYS Healthcare S.A.R.L.
- Natus Medical Incorporated
- Cadwell Laboratories, Inc.
- Compumedics Limited
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