Conductive and Contactless EEG Market

Conductive and Contactless EEG Market Overview

The global Conductive and Contactless EEG Market size was valued at USD XX billion in 2023 and is predicted to reach USD XX billion by 2030 with a CAGR of XX% from 2024-2030. The conductive and contactless EEG market or neurodiagnostic devices market refers to the industry focused on the development, production, and distribution of electroencephalogram (EEG) devices that measure and record brain activity. 

Conductive or electrical EEG devices use electrodes that make direct contact with the scalp to ensure proper signal transmission. On the other hand, the contactless EEG system detects the activity from the brain without contacting the scalp directly using advanced sensors and signal processing. Both of these technologies contribute to the expanding field of neuroscience and brain-computer interface research, catering to diverse needs in healthcare, research, and consumer markets.

Market Dynamics and Trends

The rising prevalence of neurodegenerative diseases, especially Parkinson's disease, is one of the key factors driving the neurodiagnostic devices market trends. With these diseases gaining much prevalence across the world, there is an increasing demand for better diagnosis and monitoring devices for effectively managing patients. 

EEG technology enables early detection, disease progression tracking, and assessing treatment efficacy due to its ability to non-invasively monitor brain activity. Conductive EEG systems offer precise data for clinical applications, while contactless EEG systems provide greater comfort and ease of use for continuous and home-based monitoring. 

According to the Parkinson's Foundation Parkinson's Prevalence Project, 1.2 million people in the U.S. is expected to be living with Parkinson's disease by 2030. This increases the demand for sophisticated neurodiagnostic solutions for addressing the urgent need for better management of neurodegenerative diseases worldwide.

Moreover, the global surge in the aging population is another reason for the growth of the conductive and contactless EEG industry. The rise in the aging population results to increasing age-related neurological disorders, heightening the demand for effective diagnostic and monitoring equipment to enable management of such diseases. 

EEG helps to detect and monitor the progression of neurological disorders among the elderly population. As per the report of the World Health Organization, the proportion of the population aged 60 years 9and above is expected to increase to 1.4 billion by 2030 and is expected to double by the end of 2050. Consequently, this growing aging population is fueling the expansion and innovation of the EEG market to meet the rising healthcare needs of this demographic. 

However, the high cost of advanced EEG devices, particularly those utilizing contactless technology, acts as a significant restraint on the market. The substantial initial investment required for purchasing and maintaining these devices deters smaller healthcare facilities and research institutions from adopting them.

On the contrary, the seamless integration of contactless EEG systems with Brain-Computer Interfaces (BCIs) is expected to create significant future opportunities in the conductive and contactless EEG demand. This integration will facilitate real-time applications such as controlling prosthetic limbs or manipulating computer interfaces through thought alone, enhancing the practicality and appeal of these technologies.

Market Segmentation and Scope of Study

The conductive and contactless EEG market report is segmented on the basis of product, application, end-user, and region. On the basis of product type the market is categorized into EEG equipment, and EEG accessories. On the basis of application type the market is classified into disease diagnosis, sleep monitoring, anesthesia monitoring trauma & surgery and others. On the basis of end-user, the market is divided into and hospitals, diagnostic centers, ambulatory surgical centers, research laboratories, and others. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and Rest of the World (RoW).

Geographical Analysis

North America dominates the conductive and contactless EEG market share and is expected to continue its dominance during the forecast period. This is attributed to the rising initiatives by North American companies including Neuronetics Inc. for treatment of neurohealth disorders. 

These initiatives involve investments in research and development efforts for finding new treatments and therapies for treating neurological disorders. As companies invest in developing innovative solutions, there is a parallel increase in demand for EEG technology required for brain activity monitoring. 

For instance, in January 2023, Neuronetics Inc., a medical technology company launched neurostar advanced therapy for treating neurohealth disorders. This is a non-drug, non-invasive treatment that helps enhance the quality of life of patients with neurohealth conditions such as major depressive disorder and anxious depression. 

Moreover, the increasing rate of Alzheimer’s Disease in the U.S. is another reason that contributes to growth of the EEG sensor market. Alzheimer’s necessitates improving diagnostic capabilities and tracking the disease effectively. EEG technology is useful in early identification and tracking of functional alterations associated with Alzheimer’s illnesses. 

As stated in a report published by the Alzheimer’s Disease Association 2022, Alzheimer’s disease is affecting 2 million people in the U.S. This increases the need for enhanced neurodiagnostic solutions to cater for the needs of Alzheimer patients hence boosting the growth of the market in the U.S. 

On the other hand, Europe witnesses a steady rise in the conductive and contactless EEG market due to an increase in government initiatives aimed at promoting neuroscience research through enforcement of interdisciplinary collaboration. Government-supported research initiatives create a conducive environment for interdisciplinary collaboration among scientist, engineers and healthcare professionals. 

For instance, in August 2023, the European Commission accepted the joint proposal by European Brain Council (EBC) for an EU-funded Coordination and Support Action (CSA) entitled "Towards structuring brain health research in Europe”. This enables brain research stakeholders to streamline and better coordinate brain research across Europe, while fostering global initiatives.

Also, the rapid surge in the medical device sector in the Asia Pacific region is another factor driving growth in the neurotechnology advancements market. As the healthcare infrastructure in the countries of Asia Pacific improves, the demand for advanced diagnostic and patient monitoring technologies rise. 

Conductive and contactless EEG systems are essential in neurological healthcare, offering non-invasive techniques for the study of brain functioning. For instance, the Union Cabinet of India approved the National Medical Devices Policy, 2023. 

As per the policy, the medical devices sector is expected to grow from USD 11 billion in 2023 to USD 50 billion in the next five years. This expanding medical device sector in the region facilitates greater access to EEG technology, enabling healthcare providers to diagnose and manage neurological conditions more effectively. 

Competitive Landscape

The conductive and contactless EEG industry trends comprising of various key market players including Advanced Brain Monitoring, BioSemi, Brain Products GmbH, Nihon Kohden, Electrical Geodesics, Inc., Natus Medical Incorporated, NeuroWave Systems Inc., Medtronic, Philips Healthcare, and Compumedics Limited. These market players are adopting various strategies including product launch and partnership to maintain their dominance in the market. 

For instance, in December 2023, Nihon Kohden introduced the one view feature in its neuromaster G1 intraoperative neuromonitoring (IONM) system. This solution integrates the patient’s anesthesia and vital signs, including heart rate, SpO2, temperature, and more, with neurological data embedded within the IONM software.

For instance, in November 2023, Advanced Brain Monitoring (ABM) partnered with Stratus EEG cloud-based clinical software platform to integrate the former's mobile, wireless 24-channel EEG technology with the later's platform for monitoring seizures and epilepsy.

Also, in March 2023, Brain Products launched their new X.on EEG headset, a 7-channel wireless EEG headset, designed for ease of use, high data quality, and great usability. The X.on headset is designed to make EEG recordings accessible for professionals, by offering ease of use while delivering the high data quality that Brain Products is known for in the research world.

Key Benefits

• The report provides quantitative analysis and estimations of the conductive and contactless EEG industry from 2024 to 2030, which assists in identifying the prevailing industry opportunities.

• The study comprises a deep dive analysis of the current and future conductive and contactless EEG market to depict prevalent investment pockets in the industry.

• Information related to key drivers, restraints, and opportunities and their impact on the conductive and contactless EEG market is provided in the report. 

• Competitive analysis of the key players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated on the study.

• Value chain analysis in the conductive and contactless EEG market study provides a clear picture of roles of stakeholders.

Conductive And Contactless EEG Market Key Segments

By Product

• EEG Equipment

• EEG Accessories 

By Application

• Disease Diagnosis

• Sleep Monitoring

• Anesthesia Monitoring Trauma and Surgery

• Others

By End User

• Hospitals

• Diagnostic Centers

• Ambulatory Surgical Centers

• Research Laboratories

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The UK

  • Germany

  • France        

  • Italy        

  • Spain

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe    

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia Pacific

• RoW

  • Latin America

  • Middle East

  • Africa

REPORT SCOPE AND SEGMENTATION:

KEY PLAYERS

• Advanced Brain Monitoring

• BioSemi

• Brain Products GmbH

• Nihon Kohden

• Electrical Geodesics, Inc.

• Natus Medical Incorporated

• NeuroWave Systems Inc.

• Medtronic

• Philips Healthcare

• Compumedics Limited