Lewes, DE -- (SBWire) -- 08/05/2016 --Report forecast the neurodiagnostic and monitoring devices market in the US to grow at a CAGR of 8.63% during the period 2016-2020.
Neurodiagnostic and monitoring devices are used to monitor and record electrical activity in the brain, muscles, spinal cord, and other nerves. These devices are primarily used for diagnosing chronic brain disorders, such as sleep disorders, brain tumors, epilepsy, brain dysfunction, head injuries, encephalitis, strokes, and dementia.
The report covers the present scenario and the growth prospects of the neurodiagnostic and monitoring devices market in the US for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of Electroencephalogram (EEG), Electromyography (EMG), Transcranial Doppler, Intracranial pressure monitor, and Cerebral oximeters.
The market is divided into the following segments based on product:
- EEG
- EMG
- Transcranial Doppler
- Intracranial pressure monitor
- Cerebral oximeters
According to the report, increased prevalence of neurological disorders is a major factor promoting growth for the market. Prevalence of chronic disorders such as strokes, ischemic strokes, migraines, epilepsy, dementias, Parkinson's disease, and multiple sclerosis is on the rise across the US. These neurological disorders are linked to unhealthy dietary habits, lack of exercise, obesity and stress, hectic lifestyles, infections, genetic abnormalities, and physical injuries.
According to the American Academy of Neurology, in 2014, neurologic disorders accounted for 7% of all global diseases. Mortality rates for these neurological disorders amounted to 18.8 per 100,000 individuals in the US. Prompt diagnosis and effective monitoring of these disorders are critical for the recovery of patients. The high incidence of these neurological disorders is expected to propel the demand for neurodiagnostic and monitoring devices.
Further, the report states that lack of skilled workforce is leading to a drop in demand for neurodiagnostic and monitoring devices, as these can only be operated by skilled professionals. Neurodiagnostic and monitoring devices are complex systems that require handling by experts. Only neurologists and highly skilled technicians perform these procedures in hospitals, clinics, and neurophysiological laboratories. There is a dearth of neurologists and neurosurgeons with expertise in neuromonitoring. In 2012, about 16,500 neurologists were available in the US as against a requirement of 18,000 neurologists, a deficit of 11%. By 2025, the requirement is expected to increase to 21,000.
Neurodiagnostic and Monitoring Devices Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the neurodiagnostic and monitoring devices market in the US: Cadwell, Compumedics, Natus Medical, and Nikon Kohden.
Other Prominent Vendors in the market are Blackrock NeuroMed, Delsys, Electrical Geodesic (EGI), Elmiko, LifeLines Neurodiagnostic Systems, MEG International Services, Mega Electronics, Motion Lab Systems, Neurovirtual, Nonin Medical, Philips, and Zynex NeuroDiagnostics.
Market driver
- Cost-effectiveness and portability
- For a full, detailed list, view our report
Market challenge
- Limitations of EEGs in providing accurate diagnoses
- For a full, detailed list, view our report
Market trend
- Availability of wearable Ear-EEG device
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 41 pages and 18 Exhibit "Neurodiagnostic and Monitoring Devices Market in the US 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Reimbursement scenario, Market segmentation by product, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Appendix.
For more information Visit at: http://www.marketresearchreports.com/technavio/neurodiagnostic-and-monitoring-devices-market-us-2016-2020
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