Magnetoencephalography Market is expected to grow at a 5.4% CAGR from 2023 to 2033 | FMI Analyst

The Magnetoencephalography Market revenues were estimated at US$ 273 Million in 2022 and are anticipated to grow at a CAGR of 5.4% from 2023 to 2033, according to a recently published Future Market Insights report. By the end of 2033, the market is expected to reach US$ 485.2 Million.

MEG scanners have been found to be one of the common tools for diagnosing epilepsy, brain lesions, emotional states, pain recognition, and other complex neurological disorders. MEG is based on using belief neuromagnetic impulses do not distort as they pass through the skull and scalp.

Scanners have been around for decades, but recent developments in computer power and hardware have sparked renewed interest in them. MEG scanners are widely used around the world, and their number of users is growing. Furthermore, increased research and development efforts are expected to enhance the market for magnetoencephalography scanners from 2023 to 2033.

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The HSE Institute for Cognitive Neuroscience, for example, has developed a new approach for processing MEG data that allows for more exact cortical activation zone identification. In both basic clinical and scientific practice, the approach can aid in the diagnosis of a variety of neurological illnesses and the preparation of patients for brain surgery.

Magnetoencephalography is a medical test that analyses the magnetic fields created by the electrical currents in the human brain without piercing or incision into the body. This non-invasive medical test is critical for mapping brain function and pinpointing the origins of epileptic episodes. It is the most advanced way of analyzing the brain’s active functioning using an electromagnetic recording and evaluation process.

With a CAGR of over 5%, Magnetoencephalography revenue in North America is expected to surge at a significant pace. The presence of a large number of market rivals in the region, as well as the high frequency with which new products are released contribute towards the regional market growth. Furthermore, in the United States, patient outcomes and safety are of paramount importance, wherein various projects have been introduced to improve healthcare quality and results.

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Competitive Analysis

• Compumedics Limited
• Croton Healthcare
• Ricoh USA, Inc.
• CTF MEG INTERNATIONAL SERVICES LP
• FieldLine Inc.

A few recent developments in the Magnetoencephalography Market are as follows:

• In July 2018, York Instruments Ltd. purchased Elekta’s magnetoencephalography business.
• In November 2018, Leti introduced a MEG scanning gadget, also known as a wearable brain scanner or MEG helmet. It is designed for improved epilepsy and brain tumor diagnosis.

Market Segments Covered in Magnetoencephalography Industry Analysis

By Application:

• Clinical
  • Dementia
  • Autism
  • Schizophrenia
  • Multiple Sclerosis
  • Stroke
  • Epilepsy
  • Others
• Research

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By End-use:

• Hospitals
• Imaging Centes
• Academic and research institutes

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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