Market Trends of MEA Neurology Monitoring Industry
Electroencephalography (EEG) Devices Segment is Expected to Grow with a Significant CAGR Over the Forecast Period
- Electroencephalography (EEG) is an electrophysiological monitoring method that is used to record the electrical activity of the brain. It is used to measure and record brain wave activity for the diagnosis and treatment of sleep apnea. Due to this increased use and demand for high-quality EEG devices, there are now numerous companies that can cater to the specific needs of EEG users. The rising prevalence of diseases such as brain cancer and Alzheimer's disease, among others, is the major factor driving the segment growth.
- For instance, according to the article published by Alzheimer's & Dementia Journal in September 2021, the prevalence of dementia is increasing across the African continent at the same time as the aging population in low- and middle-income nations. The source also stated that in areas of rapidly changing Africa, dementia prevalence ranges from 2.3% to 20.0%, and incidence rates are 13.3 per 1000 person-years with rising mortality. Thus, the high burden of the disease in the region is expected to increase the demand for EEG devices, which will likely propel the segment growth over the study period.
- Moreover, according to the study report published by Research Square in May 2022, a study was conducted that showed that the highest estimate of those living with dementia above the age of 50 and 60 was in Egypt, Algeria, and Morocco. This high burden of disease in these countries is expected to increase the demand for EEG devices.
- Thus, the aforementioned factors, such as the rising prevalence of various neurological disorders coupled with the rising geriatric population, are expected to boost the segment growth.
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GCC is Expected to Hold a Significant Market Share Over the Forecast Period
- The GCC region comprises Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The major factors driving the growth of the market in GCC are the increasing prevalence of neurological disorders, the increasing launch of technologically advanced products, the rising geriatric population, and the growing traumatic brain injuries in the region.
- According to a study released by the Lancet Public Health in January 2022, the UAE and other Gulf countries are predicted to report the highest increases in the number of people living with dementia over the next 30 years worldwide. It was estimated that the UAE will see an increase of 1,795% in people suffering from dementia by 2050, and neighboring Gulf countries, such as Qatar and Bahrain, will see an increase in dementia cases of 1,926% and 1,084% by 2050, respectively. Thus, the high number of dementia cases is expected to increase the prevalence of Alzheimer's disease in the region over the forecast period, thereby propelling the adoption of neurology monitoring devices.
- Moreover, according to an article published by Cureus in December 2021, traumatic brain injury (TBI) can be caused by interference with the normal function of the brain that can be caused by any force to the head. The source also stated that a study was conducted in Riyadh, Saudi Arabia, which showed that the majority of traumatic brain injuries were caused by motor vehicle collisions and pedestrian injuries in the country. Moreover, the rising geriatric population in the region is also a major factor driving the market growth, as neurological disorders are mainly found in elderly people.
- Thus, the aforementioned factors, such as the rising prevalence of neurological disorders and the increasing incidence of traumatic brain injuries, are expected to boost the market growth during the forecast period of the study.
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