With an increasing number of people falling prey to neurological ailments, the worldwide brain monitoring market is expected to reach USD 10,192 million by 2030 from USD 6,159 million in 2022, witnessing a 6.50% CAGR over this decade. Assessing the health and functioning of the brain is vital for people with such conditions, as most of them are not curable, only manageable with proper diagnosis and regular interventions.
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The National Library of Medicine estimates 600 neurological diseases to exist in the world. They greatly impact a person’s behavior and physical health, thus affecting their overall productivity and quality of life. Some of these conditions, including Alzheimer’s, Parkinson’s, ALS, MS, spinal muscular atrophy, and Huntington’s, are specially debilitating.
Therefore, a variety of electrical and radiological techniques are utilized to ascertain how much the brain and its particular areas are affected. Among the major procedures perform to assess brain health, EEGs are the most common. Just like an ECG, an EEG maps the nerve impulses flowing through the brain and represents their intensity as a line graph, much like a seismograph.
The key component of an EEG system is the electrodes, which are affixed at different parts of the head, to measure the intensity of the electrical impulses flowing through the cerebral nervous system. Therefore, electrodes category has held the largest share in the brain monitoring market, under the accessories subsegment, itself within the product segment.
Another brain monitoring technique of a high significance is the MRI, which is widely used for detecting strokes & hemorrhages, lesions, aneurysms, tumors, oedema, increased intercranial pressure, AMVs, cysts, and a range of other abnormalities. A cerebral MRI is of utmost importance when screening for brain cancer, and during the course of treatment, a patient needs multiple MRIs to assess not only the progression of the tumor but also the effect of radiation of chemotherapy.
North America continues to dominate the brain monitoring market on account of its high incidence of neurological conditions. As per official sources, the prevalence of Alzheimer’s and Parkinson’s in the U.S. is 6 million and 90,000, respectively. Further, as per the American Cancer Society, almost 25,000 Americans can expect a brain cancer diagnosis this year, which will continue to push up the volume of MRI, CT, and PET scans.
Hence, as more people suffer from neurological conditions both emanating from and affecting the brain, growth prospects for market players will keep improving.
