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Technological Advancements In Brain Mapping Instruments | GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Medtronic

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Technological Advancements In Brain Mapping Instruments | GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Medtronic

December 02
11:06 2019
Technological Advancements In Brain Mapping Instruments | GENERAL ELECTRIC COMPANY, Koninklijke Philips N.V., Siemens Healthcare Private Limited, Medtronic

Grand View Research, Inc. – Market Research And Consulting.
The global brain mapping instruments market size is anticipated to reach USD 2.33 billion by according to a new report by Grand View Research, Inc. 2026 expanding at a 5.8%. CAGR over the forecast period.

The global brain mapping instruments market size is anticipated to reach USD 2.33 billion by according to a new report by Grand View Research, Inc. 2026 expanding at a 5.8%. CAGR over the forecast period, increasing incidence of brain ailments as well as other neurological diseases and rising adoption of advanced technology and increasing awareness of neurodiagnostic imaging is anticipated to boost the market’s growth.

Increase in the number of patients suffering from neurological diseases such as Alzheimer’s disease, epilepsy, and Traumatic Brain Injury (TBI) are anticipated to propel this market’s growth. It also includes patients who suffer from physical injuries to the brain such as concussion. According to the American Society of Neuroradiology (ASNR), more than 75% of TBI are termed as concussion due to their mild nature of occurrence. According to the University of Pittsburgh’s Brain Trauma Research Center, more than 3,00,000 concussions occurring in the U.S. annually, are mainly sports related.

Product Type Insights

Computed Axial Tomography (CAT) dominated the market owing to its usage in X-ray procedures. CAT scans are basically performed to define the internal structure of human body so that doctors can treat the patients accurately. It helps doctors to visualize small nodules and tumors which a normal X-ray cannot depict. It also generates 3D images of the internal organs of the body. Thus, it’s special characteristics such as painless procedures, makes the machine reliable for the patient which further leads to drive the market growth.

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U.S. Brain Mapping Instruments Market Size, By Product Type, 2015 - 2026 (USD Billion)

Electroencephalography (EEG) segment is expected to grow at the highest CAGR over the forecast period owing to its features such as detecting brain disorder such as epilepsy and seizures, through diagnosing imaging technique. It’s a diagnosing procedure that helps in determining changes in electrical activity of the brain. Thus, due to its faster application procedure in detecting various brain disorders, it is driving the market’s growth.

Further Key Findings from the Study Suggest:

  • Computed Axial Tomography (CAT) dominated the market segment in 2018 with the highest market share owing its assistance to doctors by providing them accurate 3D images of the internal organs and structures of the body such as, small nodules or tumors which cannot be seen by a normal X-ray.

  • North America dominated the brain mapping instruments market with the highest revenue share in 2018 owing to the technological advancements, awareness of brain mapping instruments and rising health concerns in the region.

  • The key players have launched technologically enhanced products to gain competitive advantage in the industry. For instance, in 2016, Koninklijke Philips N.V., launched its IntelliSpace Portal 9.0 which is designed to offer analysis to track certain neurological applications and compare brain images to determine patient progression. It helps radiologists to detect, diagnose and follow-up certain treatment of diseases.

Brain Mapping Instruments Market Share, By Region, 2018 (%)

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Grand View Research has segmented the global brain mapping instruments market on the basis of product type and regions:

Brain Mapping Instruments Product Type Outlook (Revenue, USD Million, 2015 – 2026)

  • Computed Axial Tomography (CAT)

  • Positron Emission Tomography (PET)

  • Electroencephalography (EEG)

  • Magnetoencephalography

  • Functional Near-Infrared Spectroscopy (fNIRS)

  • Functional Magnetic Resonance Imaging (fMRI)

  • Others

Brain Mapping Instruments Regional Outlook (Revenue, USD Million, 2015 – 2026)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Russia

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • South Korea

  • Latin America

    • Mexico

    • Brazil

    • Argentina

    • Colombia

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

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Regional Insights

North America dominated the market owing to increasing prevalence of neurological diseases, rising adoption of technological advancements, and improved healthcare infrastructure in the U.S. Increasing prevalence of neurological diseases such as Alzheimer’s Disease (AD) is driving the market growth. According to the Michigan Alzheimer’s Disease Core Center, deaths from AD has been increased by 123%, between 2000 to 2015. AD is the most common cause of dementia among geriatric population which causes loss of cognitive functioning such as reasoning, thinking and remembering. It ranges from the mildest to the most severe stage due to which the patient gets completely dependent on others. Thus, increasing neurological diseases are anticipated to drive the market growth.

Asia Pacific is expected to grow at the highest CAGR over the forecast period due to rising health concerns and increased adoption of latest technology. According to the NCBI, neuroimaging studies of brain anatomy and cognitive functioning has been increasing due to rising incidence of neurological diseases in the region. New techniques have also been adopted to treat the patients suffering from brain diseases such as Echo Planar Imaging (EPI). EPI is the fast MRI technique which can acquire MR image in a fraction of time. Thus, increasing brain diseases and adoption of latest technology in the region has led to increase the market growth.

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 126 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 4126 analysts and consultants, the company adds 121200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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