Newly-released Magnetoencephalography industry analysis report by Future Market Insights shows that global sales of Magnetoencephalography in 2022 were held at US$ 273 Million. With a CAGR of 5.4% from 2023 to 2033, the market is projected to reach a valuation of US$ 485 Million. The market revenue through Clinical application is expected to be gross significant revenue and is projected to grow with a CAGR of 5.9% from 2023 to 2033.
| Attribute | Details |
|---|---|
| Global Magnetoencephalography Market (2023) | US$ 287 Million |
| Global Magnetoencephalography Market (2033) | US$ 485 Million |
| Global Magnetoencephalography Market CAGR (2023 to 2033) | 5.4% |
| USA Magnetoencephalography Market CAGR (2023 to 2033) | 5.6% |
| Key Companies Profiled |
|
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As per the Magnetoencephalography industry research by Future Market Insights- a market research and competitive intelligence provider, historically, from 2018 to 2022, the market increased at around 4.8% CAGR, wherein, countries such as the USA, China, Japan, United Kingdom and South Korea held significant share in the global market.
The expansion of the brain disease diagnosis and treatment market, increasing visibility and popularity of non-invasive techniques, and the adoption of technology and Imaging Centers are fueling the growth of the Global Magnetoencephalography Market. The magnetoencephalography market is projected to grow at a CAGR of 5.4% over the coming 10 years.
MEG scanners have been found to be one of the common tools for diagnosing epilepsy, brain lesions, emotional states, pain recognition, and other complex neurological disorders. MEG is based on using belief neuromagnetic impulses do not distort as they pass through the skull and scalp.
Scanners have been around for decades, but recent developments in computer power and hardware have sparked renewed interest in them. MEG scanners are widely used around the world, and their number of users is growing. Furthermore, increased research and development efforts are expected to enhance the market for magnetoencephalography scanners from 2023 to 2033.
The HSE Institute for Cognitive Neuroscience, for example, has developed a new approach for processing MEG data that allows for more exact cortical activation zone identification. In both basic clinical and scientific practice, the approach can aid in the diagnosis of a variety of neurological illnesses and the preparation of patients for brain surgery.
Magnetoencephalography is a medical test that analyses the magnetic fields created by the electrical currents in the human brain without piercing or incision into the body. This non-invasive medical test is critical for mapping brain function and pinpointing the origins of epileptic episodes. It is the most advanced way of analyzing the brain's active functioning using an electromagnetic recording and evaluation process.
Magnetoencephalography recordings offer the necessary measurements of neurons to pinpoint the specific location of the malfunctioning. Because magnetoencephalography does not use ionizing radiation, it has potential benefits with its electromagnetic imaging techniques. This is a real-time, highly accurate investigation of brain activity.
Principal Consultant
The market growth of Magnetoencephalography devices is likely to be hampered by the increasing demand for magnetic resonance imaging scanning, computerized axial tomography scanning, and positron emission tomography scanning throughout the forecast period. According to a study published in the Journal of the American Medical Association in March 2018, Japan has 52 MRI scanners per 1 million people and the United States had 107 scanners per 1 million people. The United States had the second most MRI scanners, and the third most CT scanners.
With a CAGR of over 5%, Magnetoencephalography revenue in North America is expected to surge at a significant pace. The presence of a large number of market rivals in the region, as well as the high frequency with which new products are released contribute towards the regional market growth. Furthermore, in the United States, patient outcomes and safety are of paramount importance, wherein various projects have been introduced to improve healthcare quality and results.
Apart from North America, the market in Asia Pacific is expected to grow at a significant pace due to the increased need for better imaging technologies and the rising prevalence of neurological illnesses. The most common neurological disorders in Asia, out of more than 600 worldwide, are cerebrovascular and neurodegenerative diseases. The aging population in APAC, as well as greater awareness and diagnosis of neurodegenerative illnesses among doctors and patients, would help the market develop.
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The market in the USA is expected to reach a valuation of around US$ 146 Million by 2033, growing at a CAGR of 5.6% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around US$ 61.5 Million.
The market in the United Kingdom is expected to reach a valuation of US$ 23 Million by 2033. Growing with a CAGR of 5.4% in the forecast period, the market in the country is projected to garner an absolute dollar opportunity of around US$ 9.4 Million.
In Japan, the market is expected to grow at a CAGR of 6.8% from 2023 to 2033, reaching around US$ 24.6 Million by 2033. The market in the country is expected to gross an absolute dollar opportunity of US$ 11.7 Million during the forecast period.
The market in South Korea is expected to reach a valuation of around US$ 10.7 Million by 2033, growing at a CAGR of 6.4% from 2023 to 2033. The market in the country is expected to witness an absolute dollar opportunity of around US$ 4.9 Million.
The market through clinical application is expected to grow at a CAGR of 5.9%. Due to the rising prevalence of neurodegenerative illnesses, the market through the clinical application is likely to generate significant revenue over the projection period. MEG provides precise diagnostic results in clinical contexts, with an extremely high spatial and temporal resolution, which is frequently superior in clinical circumstances.
Dementia, autism, schizophrenia, multiple sclerosis, stroke, epilepsy, and other conditions are sub-segmented under the clinical segment. Epilepsy is a life-threatening disorder, and pre-surgical examination of epilepsy is the most well-known clinical application of MEG because it gives vital information. In the United States, epilepsy is the fourth most frequent neurological condition. In recent years, the availability of MEG scanners for studying the anatomy and function of the developing brain has enhanced research on human brain development.
The key players in the Magnetoencephalography Market include Compumedics Limited, Croton Healthcare, Ricoh USA, Inc., CTF MEG INTERNATIONAL SERVICES LP, and FieldLine Inc.
A few recent developments in the Magnetoencephalography Market are as follows:
Similarly, recent developments related to companies offering Magnetoencephalography have been tracked by the team at Future Market Insights, which are available in the full report.
The magnetoencephalography market size is valued at US$ 287 million in 2023.
The magnetoencephalography market is projected to thrive at a 5.4% CAGR through 2033.
The magnetoencephalography market is predicted to surpass US$ 485 million by 2033.
The magnetoencephalography market developed at a 4.8% CAGR from 2018 to 2022.
The United States’ magnetoencephalography market is predicted to rise at a 5.6% CAGR through 2033.
1. Executive Summary | Magnetoencephalography Market
1.1. Global Market Outlook
1.2. Summary of Statistics
1.3. Key Market Characteristics & Attributes
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Risks and Trends Assessment
3.1. Risk Assessment
3.1.1. COVID-19 Crisis and Impact on Demand
3.1.2. COVID-19 Impact Benchmark with Previous Crisis
3.1.3. Impact on Market Value (US$ Million)
3.1.4. Assessment by Key Countries
3.1.5. Assessment by Key Market Segments
3.1.6. Action Points and Recommendation for Suppliers
3.2. Key Trends Impacting the Market
3.3. Formulation and Product Development Trends
4. Market Background and Foundation Data Points
4.1. Global Market (US$ Million)
4.2. Market Opportunity Assessment (US$ Million)
4.2.1. Total Available Market
4.2.2. Serviceable Addressable Market
4.2.3. Serviceable Obtainable Market
4.3. Market Scenario Forecast
4.3.1. Demand in optimistic Scenario
4.3.2. Demand in Likely Scenario
4.3.3. Demand in Conservative Scenario
4.4. Investment Feasibility Analysis
4.4.1. Investment in Established Markets
4.4.1.1. In Short Term
4.4.1.2. In Long Term
4.4.2. Investment in Emerging Markets
4.4.2.1. In Short Term
4.4.2.2. In Long Term
4.5. Forecast Factors - Relevance & Impact
4.5.1. Top Companies Historical Growth
4.5.2. Global Market Growth
4.5.3. Adoption Rate, By Country
4.6. Market Dynamics
4.6.1. Market Driving Factors and Impact Assessment
4.6.2. Prominent Market Challenges and Impact Assessment
4.6.3. Market Opportunities
4.6.4. Prominent Trends in the Global Market & Their Impact Assessment
5. Key Success Factors
5.1. Manufacturers’ Focus on Low Penetration High Growth Markets
5.2. Banking on with Segments High Incremental Opportunity
5.3. Peer Benchmarking
6. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033
6.1. Historical Market Analysis, 2018 to 2022
6.2. Current and Future Market Projections, 2023 to 2033
6.3. Y-o-Y Growth Trend Analysis
7. Global Market Value Analysis 2018 to 2022 and Forecast, 2023 to 2033
7.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022
7.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
7.2.1. Y-o-Y Growth Trend Analysis
7.2.2. Absolute $ Opportunity Analysis
8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Million) Analysis By Application, 2018 to 2022
8.3. Current and Future Market Size (US$ Million) Analysis and Forecast By Application, 2023 to 2033
8.3.1. Clinical
8.3.1.1. Dementia
8.3.1.2. Autism
8.3.1.3. Schizophrenia
8.3.1.4. Multiple Sclerosis
8.3.1.5. Stroke
8.3.1.6. Epilepsy
8.3.1.7. Epilepsy
8.3.2. Research
8.4. Market Attractiveness Analysis By Application
9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End-use
9.1. Introduction / Key Findings
9.2. Historical Market Size (US$ Million) Analysis By End-use, 2018 to 2022
9.3. Current and Future Market Size (US$ Million) Analysis and Forecast By End-use, 2023 to 2033
9.3.1. Hospitals
9.3.2. Imaging centres
9.3.3. Academic and research institutes
9.4. Market Attractiveness Analysis By End-use
10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
10.1. Introduction
10.2. Historical Market Size (US$ Million) Analysis By Region, 2018 to 2022
10.3. Current Market Size (US$ Million) & Analysis and Forecast By Region, 2023 to 2033
10.3.1. North America
10.3.2. Latin America
10.3.3. Europe
10.3.4. Asia Pacific
10.3.5. Middle East and Africa (MEA)
10.4. Market Attractiveness Analysis By Region
11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2023 to 2033
11.4.1. By Country
11.4.1.1. USA
11.4.1.2. Canada
11.4.1.3. Rest of North America
11.4.2. By Application
11.4.3. By End-use
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Application
11.5.3. By End-use
12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2023 to 2033
12.4.1. By Country
12.4.1.1. Brazil
12.4.1.2. Mexico
12.4.1.3. Rest of Latin America
12.4.2. By Application
12.4.3. By End-use
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Application
12.5.3. By End-use
13. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2023 to 2033
13.4.1. By Country
13.4.1.1. Germany
13.4.1.2. France
13.4.1.3. United Kingdom
13.4.1.4. Italy
13.4.1.5. Benelux
13.4.1.6. Nordic Countries
13.4.1.7. Rest of Europe
13.4.2. By Application
13.4.3. By End-use
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Application
13.5.3. By End-use
14. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
14.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2023 to 2033
14.4.1. By Country
14.4.1.1. China
14.4.1.2. Japan
14.4.1.3. South Korea
14.4.1.4. Rest of Asia Pacific
14.4.2. By Application
14.4.3. By End-use
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Application
14.5.3. By End-use
15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
15.4. Market Value (US$ Million) & Forecast By Market Taxonomy, 2023 to 2033
15.4.1. By Country
15.4.1.1. GCC Countries
15.4.1.2. South Africa
15.4.1.3. Turkey
15.4.1.4. Rest of Middle East and Africa
15.4.2. By Application
15.4.3. By End-use
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Application
15.5.3. By End-use
16. Key Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033
16.1. Introduction
16.1.1. Market Value Proportion Analysis, By Key Countries
16.1.2. Global Vs. Country Growth Comparison
16.2. US Market Analysis
16.2.1. Value Proportion Analysis by Market Taxonomy
16.2.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.2.2.1. By Application
16.2.2.2. By End-use
16.3. Canada Market Analysis
16.3.1. Value Proportion Analysis by Market Taxonomy
16.3.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.3.2.1. By Application
16.3.2.2. By End-use
16.4. Mexico Market Analysis
16.4.1. Value Proportion Analysis by Market Taxonomy
16.4.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.4.2.1. By Application
16.4.2.2. By End-use
16.5. Brazil Market Analysis
16.5.1. Value Proportion Analysis by Market Taxonomy
16.5.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.5.2.1. By Application
16.5.2.2. By End-use
16.6. Germany Market Analysis
16.6.1. Value Proportion Analysis by Market Taxonomy
16.6.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.6.2.1. By Application
16.6.2.2. By End-use
16.7. France Market Analysis
16.7.1. Value Proportion Analysis by Market Taxonomy
16.7.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.7.2.1. By Application
16.7.2.2. By End-use
16.8. Italy Market Analysis
16.8.1. Value Proportion Analysis by Market Taxonomy
16.8.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.8.2.1. By Application
16.8.2.2. By End-use
16.9. BENELUX Market Analysis
16.9.1. Value Proportion Analysis by Market Taxonomy
16.9.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.9.2.1. By Application
16.9.2.2. By End-use
16.10. UK Market Analysis
16.10.1. Value Proportion Analysis by Market Taxonomy
16.10.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.10.2.1. By Application
16.10.2.2. By End-use
16.11. Nordic Countries Market Analysis
16.11.1. Value Proportion Analysis by Market Taxonomy
16.11.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.11.2.1. By Application
16.11.2.2. By End-use
16.12. China Market Analysis
16.12.1. Value Proportion Analysis by Market Taxonomy
16.12.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.12.2.1. By Application
16.12.2.2. By End-use
16.13. Japan Market Analysis
16.13.1. Value Proportion Analysis by Market Taxonomy
16.13.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.13.2.1. By Application
16.13.2.2. By End-use
16.14. South Korea Market Analysis
16.14.1. Value Proportion Analysis by Market Taxonomy
16.14.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.14.2.1. By Application
16.14.2.2. By End-use
16.15. GCC Countries Market Analysis
16.15.1. Value Proportion Analysis by Market Taxonomy
16.15.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.15.2.1. By Application
16.15.2.2. By End-use
16.16. South Africa Market Analysis
16.16.1. Value Proportion Analysis by Market Taxonomy
16.16.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.16.2.1. By Application
16.16.2.2. By End-use
16.17. Turkey Market Analysis
16.17.1. Value Proportion Analysis by Market Taxonomy
16.17.2. Value & Analysis and Forecast by Market Taxonomy, 2018 to 2033
16.17.2.1. By Application
16.17.2.2. By End-use
16.17.3. Competition Landscape and Player Concentration in the Country
17. Market Structure Analysis
17.1. Market Analysis by Tier of Companies
17.2. Market Concentration
17.3. Market Share Analysis of Top Players
17.4. Market Presence Analysis
17.4.1. By Regional footprint of Players
17.4.2. Product footprint by Players
18. Competition Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Deep Dive
18.3.1. COMPUMEDICS LIMITED
18.3.2. CROTON HEALTHCARE
18.3.3. RICOH USA, INC.
18.3.4. CTF MEG INTERNATIONAL SERVICES LP
18.3.5. FIELDLINE INC.
19. Assumptions and Acronyms Used
20. Research Methodolog
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Magnetoencephalography Market
