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Global next generation sequencing market size is projected to be worth USD 36 Billion by 2026, expanding at CAGR of 18.2% during the forecast period (2022 - 2030), The market was valued at USD 6.47 Billion in 2021.
The term next generation sequencing (NGS) is an extremely parallel sequencing technology that provides ultra-high throughput, speed, and scalability. It is also identified as "high-throughput sequencing," referring to a range of modern sequencing technologies. This technology is utilized to determine the order of nucleotides in complete genomes or targeted regions of DNA or RNA, and also this technology makes it potential to sequence RNA and DNA in a dependable and cost-effective way. The requirements for next-generation sequencing are increasing overall in medical appliances as they are generally used in functional genomics to test DNA and RNA samples.
Due to the continuous technological advancements in sequencers, the initiation of convenient, portable, and efficient NGS platforms are allowed that is capable of giving quick and exact outcomes and showing a better turnaround time where major players are mostly focused on the research & development of these products to make stronger their growth positions and revenues. This is driving the NGS market growth worldwide. Also, the enhancement in genome mapping activities is boosting the global next-generation sequencing market in the near future. Moreover, the major factors such as declining costs of genome sequencing and rising occurrence of cancer, the expansion in NGS platforms, and the growing usage of next-generation sequencing in cancer research centers are fuelling the market growth in the NGS across the globe.
Importantly, government associations are sequencing millions of genomes for the advancement of research as well as diagnosing and treating cancer disease and other diseases where large sequencing initiatives are likely to offer positive growth opportunities for key companies during the forecast period.
On the other hand, several academic & research institutes are facing budget limitations while purchasing and using advanced and premium-priced equipment and technologies, as academic research & development in emergent countries is usually dependent on external funding. Due to this, the development of advanced research amenities is hindered in the academic and research institutes in emergent countries. This, in turn, is impeding the market globally during the forecast period.
North America is leading the global next-generation sequencing market, followed by the European region, due to factors such as the growth in the utilization of next-generation sequencing in genomics research and diagnostics. Also, the launching of the latest products is propelling the market growth in the region.
Furthermore, the Asia-Pacific region is anticipated to have the largest market share in the forthcoming years as a result of the bigger investment by pharma and biotech industries is estimated to increase the user’s demand.
Various players operating in the next-generation sequencing market cover Genomatix GmbH, Agilent Technology, PierianDx; DNASTAR Inc., Illumina, Eurofins GATC Biotech GmbH, QIAGEN, F. Hoffman-La Roche Ltd., Thermo Fisher Scientific Inc., Oxford Nanopore Technologies, Bio-Rad Laboratories Inc., BGI Group, and Perkin Elmer Inc.
For example, PierianDx has strengthened its clinical and laboratory facility to effectively diagnose and cure cancer and other chronic diseases. In 2019, the company had raised a $26,870,702 series B round from ATW Partners, RTI International, and SJF Ventures.
Global Next Generation Sequencing (NGS) Market: By Application
Global Next Generation Sequencing (NGS) Market: By Technology
Global Next Generation Sequencing (NGS) Market: By End-User
Global Next Generation Sequencing (NGS) Market: Regional Segmentation Analysis
Global healthcare chatbots market was valued USD 160.3 Million in 2020, expanding at 21% CAGR (2022-2030) to reach USD 563 million at the end of 2030. Technology advancements coupled with growing demand for automation in healthcare industry are considered as the prime reasons for the expansion of this market.
A chatbot is a type of interactive application which uses artificial intelligence and a set of rules to interact with humans by means of the textual conversation method. This facilitates assisting the users into various sectors. The healthcare sector has been an eye-catching market industry for companies in the development of chatbot applications for patients and clinicians.
The healthcare chatbots market is growing in terms of market growth rate across the globe due to the most important factor like the increasing internet connectivity and rising adoption of smart devices. Other factors such as the benefits of healthcare chatbots, escalating patient population worldwide, growing requirement for virtual health assistance are also contributing to the market growth. Furthermore, the prologue of chatbots in terms of the social media platforms, the rising requirements for the healthcare chatbots for considering the medical operating expenses of patients, and the surfacing of cloud-based architecture are some factors that may provide beneficial opportunities for chatbot developers in increasing their customer foundation which may drive the market growth in the future.
On the other hand, the shortage of experts for generating chatbots, the lack of awareness and skilled healthcare IT professionals as well as the concerns associated with data privacy may restrain the market growth over the forecast period.
In terms of revenue, the North American region is dominating the global healthcare chatbots market due to the rising disposable income and large investments in the research & development of highly developed healthcare chatbots, growing demand for virtual assistance as well as increasing internet connectivity, and the augmented adoption of mobility solutions in healthcare organizations. Similarly, the European region is dominating the healthcare chatbots market owing to the rising awareness, benefits of healthcare chatbots, expanding the number of collaborations between prominent market players and healthcare providers for the implementation of healthcare chatbots in the region.
Various key players in the global healthcare chatbots market cover Infermedica, PACT Care BV, Sensely Inc., Anboto, Ada Digital Health Ltd., eGain, Babylon Healthcare Services Limited, eCreations, HealthTap Inc., Nuance Communications Inc., Your.MD Limited, Next IT Corp., Baidu Inc., Synthetix Ltd., Buoy Health Inc., Inbenta Technologies Inc., Woebot Labs Inc., Creative Virtual, GYANT.COM INC., and CX Company.
Global Healthcare Chatbots Market: By Component
Global Healthcare Chatbots Market: By Deployment Model
Global Healthcare Chatbots Market: By End-User
Global Healthcare Chatbots Market: By Application
Global Healthcare Chatbots Market: Regional Segmentation Analysis
Global energy-based aesthetic devices market valued USD 3.2 Billion in 2021 and is predicted to progress at a healthy CAGR of 12.07% from 2022 to 2030 to attain a value of USD 9.6 Billion by year 2030.
The energy-based aesthetic products are utilized in the treatment of wrinkles, sun-damaged skin, and unwanted injuries. These products are widely used to develop positive, pleasant, or artful user appearance.
Due to the growing innovations in the sector of aesthetic devices, increasing awareness concerning medical aesthetics, and obesity augmentation all over the world are expected to boost the demand for energy-based aesthetic devices products. In addition, the increase in disposable incomes and high trends of body changing in the emergent countries of India and China are projected to present lucrative opportunities for the energy-based aesthetic device growth in the market during the forecast period. On the other hand, the high expenditure on such treatments may hamper the market growth in the future.
The energy-based aesthetic device mainly focuses to reduce the excess sagging skin or getting rid of stubborn fat to get the skin tightening. For the rectification of aesthetic treatment procedures, there are numerous technical procedures carried out that consist of non-invasive devices, invasive devices, and minimally invasive devices. Presently, totally automated aesthetic devices are obtainable intended for their end-users.
Furthermore, owing to the COVID-19 outbreak, the demand for energy-based aesthetic devices is negatively impacted, and the routine health care services have remained suspended. To slow down the spreading of the virus, all countries across the globe adopted lockdown, which came into effect on March 23, 2020. Ever since then, the clinics offering light-based and intense pulsed light services have remained closed for the treatments.
Regionally, the European market is projected to witness stable growth during the forecast period as a result of growth in the aged population base. In terms of revenue, North America is dominating the worldwide energy-based aesthetic devices industry and is expected to remain dominant in the upcoming years due to the augment in healthcare spending, and technological developments in energy-based aesthetic devices. It has also been the largest market for medical aesthetics, particularly in the U.S. market, and is considered as the platform for improvement in aesthetics procedures.
Moreover, the Asia-Pacific region is likely to observe lucrative growth in the future because of some factors like changing lifestyle patterns, increasing disposable income, powerful presence of regional industry players, awareness among patients, increasing personal expenditures, better-untapped opportunities in the region.
Companies such as Johnson & Johnson, Genesis Biosystems Inc., Lumenis Ltd., Bausch Health Companies, Alma Lasers Inc., Syneron Medical Limited, Cutera, Candela Corporation, Cynosure Inc., Hologic Inc., Merz Pharma GmbH & Co. KGaA, Syneron Medical Ltd., Venus Concept, IRIDEX Corporation, Sciton, TRIA Beauty Inc., among others are covered in the market. Key players are engaged in strategic mergers and acquisitions to expand their market presence. For example, medical aesthetics product manufacturer, Cynosure acquired the MyEllevate Surgical Suture System, escalating the company's range of innovative simply invasive facial rejuvenation treatment.
Global Energy-Based Aesthetic Devices Market: By Product
Global Energy-Based Aesthetic Devices Market: By Application
Global Energy-Based Aesthetic Devices Market: Regional Segmentation Analysis
Global contract research organization (CRO) market was valued at around USD 43.7 Billion in year 2021 and is anticipated to generate revenue of almost USD 58.3 Billion by the end of year 2030. The global industry is growing at a healthy CAGR of approximately 9% during the 2021-2026. The latest report by Vertex Market Research on the global Contract Research Organization (CRO) Market offers insights and analysis regarding the various aspects and dynamics throughout the study period while providing their impacts on the overall market’s growth.
The contract research organizations (CRO) offer help to the biotechnology, pharmaceutical, and medical device companies. Factors such as the rising patient population, increasing demand for effective drugs and healthcare devices, and high expenditure of product expansion are responsible for the contract research organization market growth across the globe. Furthermore, augmented outsourcing services of research, the evolving research and development costs, and development programs, and expansion number of clinical trials are expected to fuel the growth of the market during the forecast period. The patent expiries leading to the general competition and severe demands from regulators will have a constructive impact on the bottom lines of pharmaceutical industries which is also contributing to the market.
This report segments the global contract research organization (CRO) market as follows:
Global Contract Research Organization (CRO): By Type
Global Contract Research Organization (CRO): By Application
Global Contract Research Organization (CRO): Regional Segmentation Analysis
Global cell culture media market is expected to be worth USD 1,524 Million by 2030, increasing at an 8.5% CAGR during the forecast period (2022 - 2030). The market was valued at USD 876.3 Million in 2021.
In microbiological laboratories and research centers, the culture media is used for growing and controlling cells. The cell culture media is constituted of a group of vitamins, inorganic salts, amino acids, glucose for the energy source, and serum for the source of growth, attachment factors & hormones.
The market report analysis is based on both primary and secondary data sources. Primary sources include interviews conducted with various industry analysts, suppliers and distributors, whereas secondary sources include data collected from government websites and annual report of companies and other relevant documents.
All the information provided in the study is corroborated by the global market leaders. The report underscores the use of top-down approach to evaluate figures for each market segment, which are then validated by leveraging the bottom-up approach.
The culture media market is growing due to quick development in the sector of biopharmaceuticals, biotechnology, stem cell research, and oncology. In addition, the high requirement used for the culture media, and technological developments are the most important factors fuelling the market growth in the global cell culture media. Furthermore, innovation in the life science sector and growth in funding & investments in research and development is stimulating market growth.
Also, the culture media market share is anticipated to increase in the future, owing to accessibility and availability of customized and specialty media and the increase in adoption of the cell culture in the emerging markets.
However, the existence of potential and promising markets is likely to offer beneficial opportunities to the market industries in the global culture media market during the forecast period.
On the other hand, the ethical & scientific worry regarding culture media and the shortage of experienced professionals will hamper the growth of the cell culture media market.
The geographical split of the cell culture media market comprises North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America. In terms of revenue, North America has the highest market share in the global cell culture media market due to the augment in developments regarding cell culture media, the increase in research and development investments, and higher requirements for cell culture media. This, in turn, is propelling the market growth in the region of North American.
The market-based in Asia-Pacific has the largest growth prospective due to multiple factors such as the growth in the healthcare sector & research expenses, the major economic progress and the availability of research amenities are driving the market of the cell culture media in the region during the forecast period.
The several market players in the global cell culture media market include Life Technologies, Avantor Performance Materials LLC, Sigma-Aldrich, Bio-Rad Laboratories Inc., Cell Essentials Inc., Atlanta Biologicals, Becton, Dickinson and Company, Caisson Laboratories Inc., Corning Incorporated, Cell Culture Technologies LLC, HiMedia Laboratories, Fujifilm Holdings, Lonza Group, Vitro Diagnostics Inc., Sartorius AG, Novozymes Biopharma US Inc., Merck & Co. Inc., Sera Scandia A/S, Thermo Fisher Scientific Inc., Takara Bio Inc., Cyagen Biosciences Inc., Analytical Biological Services Inc., among others.
This report segments the global cell culture media market as follows:
Global Cell Culture Media Market: By Reagent Type
Global Cell Culture Media Market: By Type
Global Cell Culture Media Market: By End-User
Global Cell Culture Media Market: By Application
Global Cell Culture Media Market: Regional Segmentation Analysis
The Global Cancer Gene Therapy Market was valued at USD 558.24 million in 2019 and is estimated to reach USD 921.8 million by 2030, expanding at a CAGR of 32.6% during the forecast period, from 2020 to 2030.
Cancer gene therapy refers to the cancer treatment where therapeutic DNA is being introduced into the gene of the patient having cancer. The most commonly used technique for cancer gene therapy is replacing a mutated gene causing cancer with a healthy copy of the gene. Another technique used is the inactivation of a gene that is not functioning well. Lately, a new technique has been introduced to the cancer gene therapy market that is the insertion of new genes into the body which will help in fighting against the cancer cells. Due to its success rate in preclinical as well as clinical trial stages, cancer gene therapy is gaining recognition all over the world.
The major factors such as the growing incidences of cancer population, favorable government initiatives, rising elderly population, and growing funds for research and development projects for cancer gene treatment are driving the growth of the global cancer gene therapy market. Other than this, ethical approval of cancer gene treatment and the rising recognition of DNA vaccines are propelling the global cancer gene therapy market over the forecast period. Furthermore, numerous cancer gene treatment products are in clinical trial phases. This, in turn, will continue to have a positive influence on the market. On the other hand, the available market in emergent countries, industrial developments leading to improved adoption, and ethical approval of cancer gene therapy treatment will create lucrative opportunities for the global market of cancer gene therapy market.
However, factors such as less awareness, high expenditure for cancer gene treatment, and unfavorable immune responses are likely to hamper the market growth of cancer gene therapy.
North America in terms of revenue is leading the global cancer gene therapy market, owing to the high geriatric population and industrial development in this region. Similarly, Europe is dominating the global market of cancer gene therapy. Moreover, the Asia-Pacific is likely to experience the highest growth in the cancer gene therapy market because of rising government programs, and growing cost-cutting measures and development in healthcare infrastructure. Also, other factors like the large population of patients, growing research and development investments, and increasing government funding in developing countries are responsible for market expansion.
Some key market players in the global cancer gene therapy market include Vigene Biosciences, Cell Genesys, Sirion Biotech, Adaptimmune, Advantagene, Bluebird Bio, GenVec, Cobra, BioCancell, Cellectis, Sarepta Therapeutics, Epeius Biotechnologies, Uniqure, Introgen Therapeutics, ZIOPHARM Oncology, Finvector MultiVir, Shenzhen SiBiono GeneTech, GlaxoSmithKline, Merck, and Celgene.
This report segments the global cancer gene therapy market as follows:
Global Cancer Gene Therapy Market: By Type
Global Cancer Gene Therapy Market: By Product
Global Cancer Gene Therapy Market: Regional Segmentation Analysis
Global biologics safety testing market registered USD 3,701.1 Million in 2022. The global industry is projected to register an incremental spend of about USD 6,830 Million during the forecast period with a Compounded Annual Growth Rate (CAGR) of 9.20% during 2022-2030.
A biologics product refers to the added product derivative from biological sources. They are used in animals and humans as medical devices. The rising demand for biologics to deal with a load of several chronic diseases is increasing the requirements for the biologics safety testing market. Also, the quick development in fresh product launches, the larger investment in life science and research & development, expansion in pharmaceutical and biopharmaceutical research, and growing incidence of chronic diseases are propelling the global market growth and will continue to grow over the forecast period.
Various key industrial players are highly investing in the advancement of biosimilar and biologic drugs production. It is found recently that the majority of the drug candidates in the discovery stage are biologics like peptides, proteins, and monoclonal antibodies where biologic drugs are projected to provide a large market share produced by the top pharmaceutical products during the forecast period.
Furthermore, other factors like the increase in concerns in the cell culture contamination, augmentation in biosimilars and the biologics market, and the escalation in biopharmaceuticals research and development programs and investments. However, the ever-increasing biopharmaceutical outsourcing and promising markets are anticipated to for lucrative opportunities for the industrial players in the biologics safety testing market all over the globe.
Owing to the rising figure of COVID-19 patients, the vaccine production is projected to enhance the market of biologics safety testing having an essential quality assurance measure to make sure the patient safety. In addition, the rising implementation of endotoxin testing for drug development and COVID-19 research will be having a positive effect on market growth at a global level.
In terms of revenue, North America is contributing to the largest market growth across the world in the biologics safety testing market and will continue to grow in the future. This is due to the quick expansion in the biopharmaceutical production companies in the region. Also, other factors like the increasing awareness among consumers about product safety, rising demand for high-quality research tools for data reproducibility, Growing academic and government investments, and the presence of major market players are responsible for fueling the market of biologics safety testing in the North American region.
The numerous initiatives by the market players and the use of biologics safety testing products and services in COVID-19 research widely have positively influenced the biologics safety testing market. This, in turn, is expected to grow the market revenue all over the world. Pace Analytical Services Inc., Merck KGaA, Charles River Laboratories, Cytovance Biologics Inc., Toxikon Corporation, Sartorius AG, WuXi Apptec, Thermo Fisher Scientific Inc., Lonza Group LTD, and SGS SA are key market players in the global biologics safety testing market.
This report segments the global biologics safety testing market as follows:
Global Biologics Safety Testing Market: By Product
Global Biologics Safety Testing Market: By Test Type
Global Biologics Safety Testing Market: By Application
Global Biologics Safety Testing Market: Regional Segmentation Analysis
According to this research report, the global allergy diagnostics market globally was USD 4,890.4 Million in 2022 expanding with a growth rate of 12.8% and is approximately projected for USD 9,050 Million by 2030.
The allergy diagnosis term refers to a significant initial step for effectual allergy treatment. This allergy diagnostic is the main step in treating patients that are suffering from allergic diseases. Some leading allergic diseases are rhinitis, asthma, angioedema, conjunctivitis, urticaria, and eczema, whereas conditions like drug, food, and insect allergies can affect large populations worldwide. The latest allergy test is convenient and precise compared to the before-taken tests. These allergy tests also recognize particular triggers for an individual’s allergic reactions with the help of thorough medical records. Also, this procedure is essential in drug development and the manufacturing process of allergy treatments.
Through the high prevalence and increasing burden of allergic diseases, the latest allergy diagnostic market for the same is projected to grow up at a faster rate as the requirement for allergy diagnostics is mostly dominated by the rising innovative techniques in the commodity segment and in opposite end-use industries, the limited advantages of allergy diagnostics procedures, and the sterilization problem for packaged foods. Moreover, the latest diagnostic strategy for allergies and researches on advancements for treatment are likely to propel the growth of the allergy diagnostics market in the forthcoming years. In addition, allergy diagnostics is progressively more utilized for the expansion of self-purifying channels and the cleaning of numerous products, specifically meat and poultry bundling. This, in turn, is likely to have a positive influence on the market.
On the other hand, strict regulatory guidelines, and major financial investments are responsible for restraining the allergy diagnostics market growth sector. Also, cost expenditure and the lack of awareness towards allergic diseases are anticipated to slow down the market growth over the forecast period.
The geographical split of the allergy diagnostics market comprises North America, Europe, Asia-Pacific, and the Rest of the World. Geographically, the Asia-Pacific is expected to have the largest market share in the global allergy diagnostics market in the forthcoming years owing to the growing investments by governments to support research activities and the enhancement of life sciences research infrastructure in rising economies. Moreover, North America dominates the allergy diagnostics market due to the increasing awareness regarding the treatment process, and the growing scale of hospitals with well-developed laboratories. Also, the rise in population in rising countries like India and China is likely to fuel market growth in the future. Similarly, Europe and the Rest of the World are expected to drive the allergy diagnostics market in the coming years.
Major market players leading in the allergy diagnostics market are Thermo Fisher Scientific Inc., Siemens Healthineers, bioMérieux SA, Omega Diagnostics Group PLC, HYCOR Biomedical, R-Biopharm AG, Lincoln Diagnostics Inc., Stallergenes Greer, HOB Biotech Group Co, Hitachi Chemical Co Ltd, and Danaher Corporation.
Global Allergy Diagnostics Market: By Product Type
Global Allergy Diagnostics Market: By Allergen Type
Global Allergy Diagnostics Market: By End-User
Global Allergy Diagnostics Market: Regional Segmentation Analysis
[215+ Pages Report] According to the research report, the global mental health software market generated USD 2.01 Billion in 2020, and is expected to record USD 5.5 billion by 2030, witnessing a CAGR of 12.03% from 2021 to 2030.
The term mental/behavioral health software (MHS) is a type of healthcare management software allowing the counselors, mental health experts, and psychologists to know the behavioral and mental pattern of the people and signifying them with personalized treatment arrangements a result of dealing against the anxiety, addiction stress, depression, and so forth on their individual level. It is proficient for the retrieval, storage, and distribution of radiological, pharmacological, and laboratory data remarks.
Mental/Behavioural health software lets people who are struggling with their mental health get assistance. It's an online guide that helps them deal with their mental health issues, and it also offers the ability to connect with psychologists or therapists through audio or video chat.
The one thing that mental health software does is to provide emotional support. Its purpose is to provide emotional support for anyone who is struggling with their mental health. It can help them identify what they're feeling and what they need in order to feel better again.
As depression is a commonly found mental ailment where more than 264 million populations of all age group go through depression and the large healthcare expenditure for treating mental health related issues or mental disorders are a major worry for governments. The requirement for and production of extreme paperwork that results in loss of productivity among clinicians and improper profits phase managing by mental health organizations are some key factors emerging in the higher expenditure treatments. This, in turn, has resolved such issues focusing on and the adoption of mental health software while minimizing the medication errors and paperwork adding productivity by assuring fast patient access of data where there is the minimization of the healthcare expenditures, and improvement of workflow effectiveness. This is boosting the global mental health software market across the globe.
For mental health providers, the privacy of data is the main concerns in the mental health, as these providers aren’t allowable to share the data on patients who are suffering from some mental disease with any person who is not concerned in the treatment of that specific patient. Any healthcare expert not related to that particular case can entry the patient’s record with the integration of information using mental IT tools. This can restrain the growth of mental health software market over the forecast period.
On the basis on components, the behavioral/mental health software market is segmented into software and support services. As per research report, the support services segment estimated a largest share of the behavioral/mental health software market in 2021. The recurring requirement of support services (such as software upgrades and maintenance) is the major factor supporting its growth.
On the basis of end users, community clinics segment shows highest CAGR in the behavioral/mental health market during the forecast period
On the basis of end users, the behavioral/mental health software market has been segmented into community clinics, hospitals, and private practices. As per research report, in 2021, the community clinics segment estimated a largest share and growing government initiatives to support these facilities and growing patient preference for community clinics are likely to drive behavioral/mental health software adoption in this segment.
North America to dominate the behavioural/mental health software market
The mental health software market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. As per mental health software market analysis, North America occupied maximum share in the mental health software market due to the major increase in the occurrence of mental disorders in the region. Also, emergent countries like Canada and the U.S. are considered to be the largest market revenue due to the government funding for mental health facilities in the future.
Some major players operating in the global mental health software market are Advance Data Systems, Cerner, Cure MD, Core Solutions, Epic systemscorporations, Allscripts, Mindlinc, Mediware, Kareo, Netsmart, The Echo Group, NextGen Healthcare, Valant, Qualifacts, Accumedic, Credible, Welligent, Meditab, Advancedmd, Compulink.
For example, NextGen Healthcare is engaged in developing innovative EHR software and practice management systems to the healthcare industry. The company offers financial management, population health, and clinical solutions for medical and dental. Recently, in 2019, the company announced an agreement to acquire OTTO Health to expand its telemedicine capabilities.
This report segments the global mental health software market as follows:
Global Mental Health Software Market: By Component
Global Mental Health Software Market: By Delivery Model
Global Mental Health Software Market: By Functionality
Global Mental Health Software Market: By End-User
Global Mental Health Software Market: Regional Segmentation Analysis
[197+ Pages Report] According to recent research report, the global EEG Wearable Device Market generated US $1.9 Billion in 2020, and is expected to record US $2.5 Billion by 2030, witnessing a CAGR of 8% from 2021 to 2030.
Electroencephalography (EEG) is the device that is used in measuring and recording the electrical activities happening inside the brain. These wearable electroencephalography devices are used in the diagnosis of numerous neurological disorders like Parkinson’s disease, epilepsy, and Alzheimer's disease.
A wearable EEG device is a piece of technology that records the electrical signals in your brain. When you place an electrode against your scalp, it measures the different types of brain waves, including alpha, beta, delta and theta waves. EEG devices are used to diagnose epilepsy and other seizure disorders, because they are able to detect epileptic seizures before they happen. They are also used to monitor babies in neonatal intensive care units for signs of neurological problems. Despite their benefits, many people still don’t know what a wearable EEG device is or how it can be beneficial for them. Here are some things you need to know about these devices.
What are the major growths factors driving the EEG wearable device market?
Due to several factors such as the rising extent of the aged population, the growing research and development programs in the field of neurology, the growing incidences of neurovascular disorders, and the rising government projects to support the research studies are fuelling the worldwide wearable EEG device industry and will continue to dominate over the forecast period. Furthermore, augmented usage and high demand for good quality EEG devices are also responsible for positive industry growth. Other factors such as the growth in recent technological advancements in the electroencephalography devices in the diagnosis spectrum of neurological disorders are anticipated to boost the market growth in the future.
On the other hand, the high initial investment regarding the electroencephalography wearable devices is likely to hamper the market growth.
EEG devices are used for many different purposes, including helping diagnose seizure disorders, monitor new-borns for neurological problems, and to help determine the effectiveness of deep brain stimulation. They can also be used to find out what causes an individual’s seizures or other neurological problems.
An EEG device is often used as a first line of defence if an individual is shouldering a diagnosis of epilepsy. This is because it can detect epileptic seizures before they happen. It will also alert the patient if the seizure occurs, so that they can be protected from injury until the seizure ends.
WearableEEG devices are also useful in monitoring babies for signs of neurological problems. They are typically placed on babies who don’t respond properly to stimuli or cry enough, which could indicate that there may be something wrong with their brain development.
North America is dominating the global electroencephalography devices market and is likely to develop at the highest growth rate in the future due to numerous factors such as the existence of well-built healthcare infrastructure, successful healthcare activities, high expenditure capability of the consumer, the growing incidence of different sleep and neurodegenerative disorders in countries like the U.S.
The European region is also projected to witness the highest growth in the forthcoming years due to the establishment of multiple non-profit organizations, and the existence of a strong healthcare system.
The Asia-Pacific market is being propelled by the demand for EEG and an increase in the requirement for advanced technologies. Also, the development of private hospitals and neuro clinics in rural areas of Asia-Pacific is boosting the market.
Cadwell Laboratories Inc., Compumedics Limited, Nihon Kohden Corporation, Natus Medical Incorporated, Elekta AB, Neurosoft Ltd, Electrical Geodesics Inc., Brain Products GmbH, Emotiv Inc., NeuroWave Systems Inc., EB Neuro S.p.A, ANT Neuro, Advanced Brain Monitoring Inc., g.tec medical engineering GmbH, and Neuroelectrics are several players driving in the global EEG wearable device market.
Companies are actively engaged in strategic expansion and development of new products to capture significant revenue share. For instance, Nihon Kohden Corporation offers range medical electronic equipment, which includes EEGs, EMG measuring systems, ECGs, patient monitors, among others. The company's products are used in more than 100 countries, and it is the largest supplier of EEG products across the globe.
This report segments the global EEG wearable device market as follows:
Global EEG Wearable Device Market: By Component
Global EEG Wearable Device Market: By Delivery Model
Global EEG Wearable Device Market: By Functionality
Global EEG Wearable Device Market: Regional Segmentation Analysis