Brain Mapping Instruments Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Brain Mapping Instruments Market Analysis
- The brain mapping instruments market is expected to grow at a CAGR of 5.8% during the forecast period.
- COVID-19 is an incomparable global public health emergency that has affected almost every industry. For instance, according to the article published in the Journal of Alzheimer's Diseases in December 2021, COVID-19 is not only confined to the respiratory system but also leads to neurological and neuropsychiatric disorders. This suggests that the virus can affect the central nervous system (CNS), which may result in cognitive impairment after COVID-19 subsides. As a result, neurological diseases worsened in COVID-19 patients. This created a demand for brain mapping instruments-this significantly impacted market growth during the pandemic.
- The global incidence and prevalence of neurological disorders like dementia, epilepsy, Parkinsonism, Huntington's, multiple sclerosis (MS), brain stroke, and cerebral palsy (CP) increased significantly over the years. Brain disorders are the leading cause of morbidity around the world.
- For instance, according to the September 2021 update by the World Health Organization (WHO), about 55 million people worldwide were living with dementia in 2021, and nearly 10 million cases are reported every year. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60%-70% of the total cases of dementia. With the growing prevalence of Alzheimer's worldwide, the demand for brain mapping instruments is expected to increase during the forecast period.
- Additionally, technological advancement in the product and product launches by the key market players is likely to support the market's growth. For instance, in July 2021, Omniscient Neurotechnology, a pioneering brain mapping software company, received United States FDA (USFDA) clearance for Quicktome, a digital brain mapping platform that allows neurosurgeons to visualize and understand a patient's brain network before performing life-changing brain surgery.
- Additionally, in January 2021, South Korean biomedical start-up iMediSync designed an EEG digital biomarker for the early detection of Alzheimer's dementia on its AI cloud platform. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period.
- However, the high cost of brain mapping instruments may restrain the market growth.
Brain Mapping Instruments Market Trends
This section covers the major market trends shaping the Brain Mapping Instruments Market according to our research experts:
Hospitals Segment is Expected to Grow Faster and Dominate the Market Over the Forecast Period
- The increase in hospital admission and product launches by the key market players drives the hospital segment. The increasing number of hospitals in the United States is also propelling the market's growth. The American Heart Association (AHA) statistics published in January 2021 reported that there were 951 state and local government community hospitals, and 1,228 investor-owned (for-profit) community hospitals in 2021 in the United States. Such a huge number of hospitals creates the demand for brain mapping instruments and thus is expected to boost the market's growth.
- Moreover, the increasing launch of technologically advanced products in the market is expected to boost segment growth. For instance, in August 2022, IBS Hospital announced India's first brain mapping technology, connectomics/Quicktome. With the advent of such customized brain mapping, treatment for brain tumors and other brain procedures have become significantly safer, and accuracy has allowed for avoiding harm to critical brain areas.
- Thus, all aforementioned factors are expected to boost segment growth.
North America Dominates the Market and Expected to do Same in the Forecast Period
- North America dominates the global brain mapping instruments market owing to the increasing prevalence of neurological disorders, early adoption of technological advancements, and improved healthcare infrastructure in the United States. For instance, as per the Alzheimer's Association 2021, an estimated 6.2 million Americans aged 65 and older had Alzheimer's dementia in the United States in 2021, and the number is expected to reach 12.7 million by 2050.
- Additionally, according to the 2022 statistics published by CerebralPalsy.org, cerebral palsy affects roughly 8,000 to 10,000 kids born in the United States each year. The demand for brain mapping tools is anticipated to increase due to the population's rising prevalence of neurological illnesses, fostering the market growth.
- Moreover, the increasing investment by the private players is also boosting the market's growth. For instance, in June 2022, the CAMH, a significant player in brain mapping, launched a campaign in Canada and the United States to seek donor financing and raise mental health awareness to develop effective, personalized medicine.
- Additionally, in September 2021, Scientists at Washington University School of Medicine in St. Louis joined a national network to map the intricacies of the brain, increase understanding of how the brain works and generate new insights into how the brain functions in healthy people and how it malfunctions in Alzheimer's, schizophrenia, autism, and a variety of other conditions. Thus, the rising prevalence of neurological illnesses is expected to drive the demand for brain mapping instruments, thereby boosting the market growth in the region.
Brain Mapping Instruments Industry Overview
The brain mapping instrument market is moderately competitive, with several players across the globe. With the increasing patient awareness levels and high prevalence of neurological disorders, many regional players are expected to be part of the brain mapping instrument markets during the forecast period. Some major players operating in the market are General Electric Company, Koninklijke Philips N.V., Siemens Healthineers, Natus Medical Incorporated, Advanced Brain Monitoring, Inc., Medtronic PLC, and Nihon Kohden Corporation.
Brain Mapping Instruments Market Leaders
General Electric Company
Koninklijke Philips N.V.
Advanced Brain Monitoring, Inc.
Siemens Healthineers
Natus Medical Incorporated
*Disclaimer: Major Players sorted in no particular order
Brain Mapping Instruments Market News
- September 2022: Scientists at the Allen Institute established the Brain Genome Project, a new global partnership to map approximately 200 billion cells in the human brain by type and function.
- March 2022: Kernel, a neurotechnology company, developed a wearable headset device, Kernel Flow, for brain measurement, which is based on time-domain functional near-infrared spectroscopy (TD-fNIRS). The device enables accurate, high-resolution measurement of the brain, and it functions by emitting picosecond pulses of light into tissue and measuring the arrival times of single photons. The device weighs 2.05 kg and contains 52 modules arranged in four plates that fit on either side of the head.
Brain Mapping Instruments Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Neurological Disorders
4.2.2 Rising Technological Advancements
4.2.3 Rise in Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of the Brain Mapping Instruments
4.3.2 Poor Healthcare Insurance Coverage
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Computed Axial Tomography (CAT)
5.1.2 Position Emission Tomography
5.1.3 Electroencephalography (EEG)
5.1.4 Functional Near-Infrared Spectroscopy (fNIRS)
5.1.5 Functional Magnetic Resonance Imaging (fMRI)
5.1.6 Other Products
5.2 By End User
5.2.1 Hospitals
5.2.2 Diagnostic Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Italy
5.3.2.5 Spain
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 General Electric Company
6.1.2 Koninklijke Philips N.V.
6.1.3 Siemens Healthineers
6.1.4 Natus Medical Incorporated
6.1.5 Advanced Brain Monitoring, Inc.
6.1.6 Medtronic PLC
6.1.7 Nihon Kohden Corporation
6.1.8 Canon Medical Systems Corp.
6.1.9 NIRx Medical Technologies, LLC
6.1.10 Gowerlabs Ltd.
6.1.11 Soterix Medical Inc.
6.1.12 Artinis Medical Systems
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Brain Mapping Instruments Industry Segmentation
As per the report's scope, brain mapping is a technique used to study the structure and functions of different brain parts. Brain mapping helps physicians identify brain areas involving movement, vision, sensation, and speech. The brain mapping instrument helps detect tumors, seizures, toxic injuries, and Alzheimer's disease. This is also helpful in observing external conditions like brain structure and reasons for brain diseases and mental illness.
The brain mapping instruments market is segmented by product (computed axial tomography, positron emission tomography electroencephalography, functional near-infrared spectroscopy, functional magnetic resonance imaging, and other products), end user (hospitals, diagnostic centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally.
The report offers the value (in USD million) for the above segments.
| By Product | |
| Computed Axial Tomography (CAT) | |
| Position Emission Tomography | |
| Electroencephalography (EEG) | |
| Functional Near-Infrared Spectroscopy (fNIRS) | |
| Functional Magnetic Resonance Imaging (fMRI) | |
| Other Products |
| By End User | |
| Hospitals | |
| Diagnostic Centers | |
| Other End Users |
| Geography | ||||||||
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Brain Mapping Instruments Market Research FAQs
What is the current Brain Mapping Instruments Market size?
The Brain Mapping Instruments Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Brain Mapping Instruments Market?
General Electric Company , Koninklijke Philips N.V., Advanced Brain Monitoring, Inc., Siemens Healthineers and Natus Medical Incorporated are the major companies operating in the Brain Mapping Instruments Market.
Which is the fastest growing region in Brain Mapping Instruments Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Brain Mapping Instruments Market?
In 2024, the North America accounts for the largest market share in Brain Mapping Instruments Market.
What years does this Brain Mapping Instruments Market cover?
The report covers the Brain Mapping Instruments Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Brain Mapping Instruments Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Brain Mapping Instruments Industry Report
Statistics for the 2024 Brain Mapping Instruments market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Brain Mapping Instruments analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
