The brain monitoring market will grow at a rate of 6.50% by the end of this decade to reach a value of USD 10,192 million by 2030. The growing count of people, who are suffering from neurological ailments all over the world is pushing the sales of brain monitoring devices.
As per the U.S. National Library of Medicine, there are more than 600 neurological ailments. Furthermore, the upgradation in the technology will boost the advance of the industry in the years to come.
Electroencephalography had the largest revenue in 2022, and it will remain dominant in the years to come, because of the increase in the requirement for cutting-edge methods and recurrent product approvals.
Electrodes dominated the industry in 2022, and sales revenue from them will grow at 6.9% in the years to come. This has a lot to do with the extensive research conducted to advance the tech, efficiency, and electrode safety.
TBI had the largest share in the brain monitoring market of 28%, in 2022, because of the growing frequency of these sorts of mishaps at a global level.
About 70 million people withstand a TBI on a yearly basis, at a global level. Furthermore, the growing funding of the government for TBI research will support the growth of this category.
North America led the industry in terms of revenue, because of the growth in the number of cases of neurological ailments, acceptance of cutting-edge neurological diagnosis & monitoring technologies, and increase in the count of elderly population in the region.
Also, the increasing consciousness regarding the early discovery of neurodegenerative ailments, like Parkinson’s, Alzheimer’s, and Huntington’s, is powering the growth of the industry in North America.
Europe also has a substantial share in the industry. It is mainly because of to the increasing number of brain diseases.
For example, more than 20,000 people in Norway were identified having an acute ailment or injury, which calls for the need of brain monitoring on a yearly basis. Brain monitoring is essential at all ages, which is the main reason why neurological radiology has progressed like anything in the recent time.
Novel approaches for the treatment of stroke have much to do with more-innovative brain monitoring. Additionally, the all the progressions going on in, intensive care, clinical neurophysiology, neuromonitoring, and neurosonology radiology have enhanced brain monitoring technologies too to a great extent.
Elderly people are much more susceptible to neurological disorders, and with the elderly population on the rise at a global level, it will have a positive impact on the demand for the devices used for brain monitoring.
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