According to a new market research study titled “EEG Machines Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End User,” the market is expected to reach US$ 1,937.00 million by 2028 from US$ 990.26 million in 2020. It is estimated to grow at a CAGR of 8.8% from 2021 to 2028. The report highlights the trends prevalent in the market and the factors driving the market along with those that act as restraints to its growth. Growing product launches and increasing neurological disorders are the driving factors for the market. However, high cost and disadvantage of EEG machines are the key factors restraining the market growth.
Neuro marketing is emerging as a new trend and an interesting topic for various academic and commercial organizations. The development in the neuroscience has allowed to make tools for recognizing and analysing the expression and the unspoken response of consumers to the marketing stimuli. There have been continuous developments carried out for the neuro marketing, which has demanded a good number of EEG machines, functional magnetic resonance (fMRI), magnetoencephalography (MEG), transcranial magnetic stimulator (TMS), positron emission tomography (PET), and functional near-infrared spectroscopy (fNIRS).
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Key Players Influencing the Market
- Koninklijke Philips N.V.
- Medtronic
- Natus Medical Incorporated
- Nihon Kohden Corporation
- Fresenius SE & Co. KGaA
- Advanced Brain Monitoring
- D & DJ BURTON HOLDINGS
- Cephalon A/S
- Cadwell Industries Inc,
- NeuroStyle Ptd. Ltd.
The EEG machines market is segmented based on product type, application, end user, and geography. Based on geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the EEG machines market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world. It also includes COVID-19 impact analysis across all the regions. It is estimated that the market is likely to have slower growth rate during the forecast period owing to the restricted health services and lockdown situation caused by the COVID-19 pandemic.
Strategic Insights
Organic and inorganic strategies were equally adopted by the market players to meet the changing customer demand and maintain their improved services. For instance, organic strategy of expansion was adopted by Fresenius Kabi in February 2021. The company invested in the advancements of its facilities around the world to assist in care for critically and chronically ill patients, in keeping with the company's philosophy of caring for life. Additionally, Fresenius Kabi continued to invest in its two Graz facilities.
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