Growth and change of COVID-19 until 2030

The major players in the neurophysiology devices and equipment market are Medtronic Plc, Nihon Kohden Corporation, Dr. Langer Medical Gmbh, Natus Medical Incorporated, and Inomed Medizintechnik.

New York, September 27, 2021 (GLOBE NEWSWIRE) – announces the publication of the report “Global Neurophysiology Devices and Equipment Market Report 2021: COVID-19 Growth And Change To 2030” – https: // www. reportlinker .com / p06151582 /? utm_source = GNW
The global neurophysiology devices and equipment market is expected to grow from $ 1.3 billion in 2020 to $ 1.4 billion in 2021 at a compound annual growth rate (CAGR) of 7.7%. The growth is primarily driven by businesses resuming operations and adjusting to the new normal while recovering from the impact of COVID-19, which previously led to restrictive containment measures involving social distancing, the remote work and closure of business activities which resulted in operational challenges. The market is expected to reach $ 1.75 billion in 2025 at a CAGR of 5.7%.

The neurophysiology apparatus and equipment market includes sales of neurophysiology apparatus and equipment and related services. The most widely used monitoring techniques in this market are electroencephalography (EEG), electromyography / electroneurography (EMG / ENG) and recording of evoked potentials (EP).

These equipments and techniques are useful for treating different functions of the nervous system such as spinal cord and peripheral nerve dysfunction, brain damage and nerve damage.

The Neurophysiology Apparatus and Equipment market covered in this report is segmented by Electromyography (EMG), Electroencephalography (EEG), Electro-corticography (ECOG), Evoked Potential (EP) Technology. It is also segmented by end users in hospitals, outpatient surgical centers and by stand-alone, portable modality.

The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East & Africa.

The market for neurophysiology devices and equipment is constrained by the high cost of neurodiagnostic procedures. The treatments available for neurophysiological disorders are very expensive due to the advanced technology used in this equipment.

The high cost of the procedure leads to a decrease in demand for these treatments due to the low affordability, especially in low income countries, thus limiting the growth of the market. For example, a survey conducted by the NCBI found that the availability of EEG and EMG was significantly correlated with countries in higher income groups.

Among the low-income countries surveyed, only the richest 20% could afford neurodiagnostic tests and in lower-middle-income countries, more than 40% of the population could not afford this treatment, thus limiting the growth of the market.

In the United States, the American Association of Neurological Surgeons (AANS) and Congress of Neurological Surgeons (CNS) AANS / CNS regulate neurological devices, including neurophysiological devices. There are two methods that manufacturers can use to gain pre-market approval for neurophysiology devices.

The first method is to conduct clinical studies and submit an application for pre-market approval (PMA) that includes evidence that provides reasonable assurance that the device is safe and effective. The other method is to submit a 510 (k) notification demonstrating that the device is substantially equivalent to a device already on the market (a predicate device) that does not require PMA.

The major factor responsible for the growth of the neurophysiology device and equipment market is the increasing prevalence of neurological disorders around the world. Neurological disorders are identified as one of the most common disorders among all recurrent conditions.

There are over 600 neurological disorders like brain tumors, epilepsy, Parkinson’s disease, Alzheimer’s disease, etc. disability or premature death.

The growing number of cases of neurological diseases and the growing number of patients are leading to an increasing demand for devices used in the treatment of these disorders. For example, according to the National Brain Tumor Society, approximately 700,000 people in the United States suffered from Brain Tumors in 2019.

Likewise, the Alzheimer’s Association reported that between 2017 and 2025, the number of Alzheimer’s cases is expected to increase by about 14% in the United States. This would increase the demand for medical devices used in the treatment of neurological disorders, thereby driving the neurophysiology device and equipment market during the forecast period.

Companies in the neurophysiology devices and equipment market are investing in technological advances to increase the efficiency of these devices. There have been many innovations in brain monitoring devices, for example, EEG monitoring, brain simulation therapies, and intraoperative neurophysiological monitoring.

New technological innovations enable the development of devices that integrate or adopt processes such as advanced neuroimaging techniques, stem cell therapies, molecular interventions and microbiome technologies. such as epilepsy and sleep apnea.

For example, Smart Monitor in 2019 developed smartwatches called Embrace to monitor symptoms of epilepsy and instantly send alerts to caregivers and family members of the patient, if an abnormal pattern is noticed in their body. This technology also helps to improve the security and treatment of users.

The countries covered in the market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom and United States.
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