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Electro-Diagnostic Devices Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027

Format: PDF | Pages: 288 | Report ID: MRS1136


Report Description

The global Electro-Diagnostic Devices market size is estimated at USD 1,354.2 million in 2020, expanding at a CAGR 8.7% from 2021-2027 to reach 2,300.8 million USD in 2027.

Market Dynamics

The neuron conduction investigation is a brain functioning investigation that includes the application of tiny electromagnetic shocks using electrodes implanted on the surface. A tiny needle electrode is placed into several muscles during electromyography to disclose the state of the muscle's electrical stimulation.

Electrocardiography (ECG), electroretinography (ERG), electroencephalography (EEG), and electrogastrography are some of the other therapeutic procedures (EGG). Early illness detection aids in disease mitigation, ultimately saving people. This is significant since the medical community relies largely on testing tools. The rising medical awareness and rise in worldwide health care spending are the primary factors of the electro-diagnostic instruments industry's development.

The increasing incidence of neuromuscular illnesses like Amyotrophic Lateral Sclerosis (ALS), numerous syndrome, as well as muscular dystrophy, is boosting the need for electro-diagnosis, while in return is pushing the electro-diagnostic equipment industry. Multi sclerosis, for example, impacts approximately 2.5 million individuals globally, as per the Cleveland Clinic Foundation in 2016. Initial signs of lupus are more common in those aged 20 to 50.

Globally, the expanding elderly population raises the danger of neuromuscular illnesses, which is, therefore, a significant driver pushing the electro-diagnostic instruments industry expansion. Despite the rising global need for electro-diagnostic instruments, low-income nations including India have a trained labor shortage. Unfavorable employment rules and a lack of qualified staff in India to set up, maintain, replace, and support technology are stifling the development of the electro-diagnostic instruments industry.

Furthermore, one of the significant factors impeding business development is the high setup and upkeep expenses of these complicated systems. For example, the expensive expense of EEG equipment (almost $1, 13,616 USD), as well as the expensive price of upkeep, restrict its wider application in Epilepsy Surveillance Units from across the world, particularly in poor nations where financing or subsidies for this equipment are insufficient.

Regional Insights

North America is predicted to maintain the dominant status in the electro-diagnostic equipment industry, thanks to well-established hospital architecture, greater acceptance percentage for technically sophisticated goods by healthcare professionals, and increased knowledge regarding innovative medical equipment. Furthermore, the rising frequency of neurological illnesses is supporting market expansion. Many sclerosis, for example, impacted roughly 1 million people in the United States in 2016, as per the National Centers for Biotechnology Data.

The Asian Region electro-diagnostic equipment industry is predicted to develop at the fastest pace because of the nation's large client population. Rising hospital spending will be a driving force in the expansion of the medical industry in nations like India. Constant technological advancements and increased need for improved electro-diagnostics equipment in the area are projected to drive the electro-diagnostic equipment industry expansion.

The report begins with an overview of the Industry Chain structure, describes the industry environment, then analyses market size and forecast of Electro-Diagnostic Devices by, Type, Application, and region. In addition, this report introduces the market competition situation among the vendors and company profile, besides, market price analysis and value chain features are covered in this report.

Company Coverage (Company Profile, Sales Revenue, Price, Gross Margin, Main Products etc.):

  • Abbott
  • Boston Scientific Corporation
  • Cadwell Laboratories
  • Cardinal Health
  • Compumedics
  • GE Healthcare
  • Medtronic
  • Johnson & Johnson
  • Natus Medical
  • Nihon Kohden
  • Noraxon USA
  • Viasys Healthcare
  • Philips Medical Systems
  • Siemens Medical Solutions
  • Stryker

Type Coverage (Market Size & Forecast, Main Consumer Analysis, etc.):

  • Electroretinography (ERG)
  • Electromyogram (EMG)
  • Electrocardiography (ECG)
  • Nerve Conduction (NCS)
  • Electroencephalography (EEG)
  • Electrogastrography (EGG)
  • Others

Application Coverage (Market Size & Forecast, Main Consumer Analysis etc.):

  • Diagnostic Centers
  • Hospitals
  • Clinics
  • Others

Region Coverage (Regional Consumption, Demand & Forecast by Countries etc.):

  • North America (U.S., and Canada)
  • Europe (Germany, U.K., France, Italy, Spain etc.)
  • Asia-Pacific (China, India, Japan, Indonesia, Malaysia, Australia, South Korea, etc.)
  • South America (Brazil, Mexico, Argentina etc.)
  • Middle East & Africa (Saudi Arabia, Kuwait, UAE, South Africa etc.)

Frequently Asked Questions

The global Electro-Diagnostic Devices market size is estimated at USD 1,354.2 million in 2020, expanding at a CAGR 8.7% from 2021-2027 to reach 2,300.8 million USD in 2027.
North America captured the highest revenue in 2021 and is projected to continue its dominance during the study period.
The global Electro-Diagnostic Devices market size is estimated at USD 1,354.2 million in 2020, expanding at a CAGR 8.7% from 2021-2027 to reach 2,300.8 million USD in 2027.
Asia Pacific (especially China, and India) region is projected to grow at the fastest growth rate during the study period.
Companies operating in the worldwide electro-diagnostic devices industry are concentrating their efforts on extending their business operations in developing and emerging economies, which present untapped opportunities and unexplored prospects for the electro-diagnostic devices market development.

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