Electro-Diagnostic Devices Market Status (2016-2020) and Forecast Market Analysis, Regional Outlook, Segment Growth Potential, and Competitive Market Share Analysis, 2021-2027
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.)
Table Of Content
1. Electro-Diagnostic Devices Market Overview
1.1. Product Overview and Scope of Electro-Diagnostic Devices
1.2. Global Market Growth Prospects and Revenue Estimates
1.3. Global Electro-Diagnostic Devices Market Size Growth Rate Analysis by Type 2020 VS 2027
1.3.1. Electroretinography (ERG)
1.3.2. Electromyogram (EMG)
1.3.3. Electrocardiography (ECG)
1.3.4. Nerve Conduction (NCS)
1.3.5. Electroencephalography (EEG)
1.3.6. Electrogastrography (EGG)
1.3.7. Others
1.4. Global Electro-Diagnostic Devices Consumption Comparison by Application: 2020 VS 2027
1.4.1. Diagnostic Centers
1.4.2. Hospitals
1.4.3. Clinics
1.4.4. Others
1.5. Global Electro-Diagnostic Devices Market Size Estimates and Forecasts by Region: 2020 VS 2027
1.5.1. North America Electro-Diagnostic Devices Estimates
1.5.2. Europe Electro-Diagnostic Devices Estimates
1.5.3. China Electro-Diagnostic Devices Estimates
1.5.4. Japan Electro-Diagnostic Devices Estimates
2. Market Competition by Manufacturers
2.1. Global Electro-Diagnostic Devices Revenue Market Share by Manufacturers (2020)
2.2. Electro-Diagnostic Devices Market Share by Company Type (Tier 1, Tier 2 and Tier 3)
2.3. Global Electro-Diagnostic Devices Average Price by Manufacturers (2016-2021)
2.4. Manufacturers Electro-Diagnostic Devices Production Sites, Area Served, Product Types
2.5. Electro-Diagnostic Devices Market Competitive Situation and Trends
2.5.1. Electro-Diagnostic Devices Market Concentration Rate
2.5.2. Mergers & Acquisitions, Expansion
3. Global Electro-Diagnostic Devices Consumption by Region (2016-2021)
3.1. Global Electro-Diagnostic Devices Consumption by Region
3.2. Global Electro-Diagnostic Devices Consumption Market Share by Region
3.2.1. North America
3.2.2. North America Electro-Diagnostic Devices Consumption Growth Rate (2016-2021)
3.2.3. North America Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
3.2.4. North America Electro-Diagnostic Devices Consumption by Country
3.2.4.1. U.S.
3.2.4.2. Canada
3.2.5. Europe
3.2.6. Europe Electro-Diagnostic Devices Consumption Growth Rate (2016-2021)
3.2.7. Europe Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
3.2.8. Europe Electro-Diagnostic Devices Consumption by Country
3.2.8.1. Germany
3.2.8.2. U.K.
3.2.8.3. France
3.2.8.4. Italy
3.2.8.5. Spain
3.2.9. Asia Pacific
3.2.10. Asia Pacific Electro-Diagnostic Devices Consumption Growth Rate (2016-2021)
3.2.11. Asia Pacific Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
3.2.12. Asia Pacific Electro-Diagnostic Devices Consumption by Country
3.2.12.1. China
3.2.12.2. India
3.2.12.3. Japan
3.2.12.4. Indonesia
3.2.12.5. Malaysia
3.2.12.6. Australia
3.2.12.7. South Korea
3.2.13. South America
3.2.14. South America Electro-Diagnostic Devices Consumption Growth Rate (2016-2021)
3.2.15. South America Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
3.2.16. South America Electro-Diagnostic Devices Consumption by Country
3.2.16.1. Brazil
3.2.16.2. Mexico
3.2.16.3. Argentina
3.2.17. Middle East and Africa
3.2.18. Middle East and Africa Electro-Diagnostic Devices Consumption Growth Rate (2016-2021)
3.2.19. Middle East and Africa Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
3.2.20. Middle East and Africa Electro-Diagnostic Devices Consumption by Country
3.2.20.1. Saudi Arabia
3.2.20.2. Kuwait
3.2.20.3. UAE
3.2.20.4. South Africa
4. Global Electro-Diagnostic Devices Consumption by Type (2016-2021)
4.1. Global Electro-Diagnostic Devices Price by Type (2016-2021)
4.2. Global Electro-Diagnostic Devices Revenue Market Share by Type (2016-2021)
4.2.1. Electroretinography (ERG)
4.2.2. Electromyogram (EMG)
4.2.3. Electrocardiography (ECG)
4.2.4. Nerve Conduction (NCS)
4.2.5. Electroencephalography (EEG)
4.2.6. Electrogastrography (EGG)
4.2.7. Others
5. Global Electro-Diagnostic Devices Consumption by Application (2016-2021)
5.1. Global Electro-Diagnostic Devices Price by Application (2016-2021)
5.2. Global Electro-Diagnostic Devices Revenue Market Share by Application (2016-2021)
5.2.1. Diagnostic Centers
5.2.2. Hospitals
5.2.3. Clinics
5.2.4. Others
6. Key Companies Profiled
6.1. Abbott
6.1.1. Abbott Electro-Diagnostic Devices Product Portfolio
6.1.2. Abbott Electro-Diagnostic Devices Consumption, Price and Gross Margin (2016-2021)
6.1.3. Abbott Main Business and Markets Served
6.1.4. Abbott Recent Developments/Updates
6.2. Boston Scientific Corporation
6.3. Cadwell Laboratories
6.4. Cardinal Health
6.5. Compumedics
6.6. GE Healthcare
6.7. Medtronic
6.8. Johnson & Johnson
6.9. Natus Medical
6.10. Nihon Kohden
6.11. Noraxon USA
6.12. Viasys Healthcare
6.13. Philips Medical Systems
6.14. Siemens Medical Solutions
6.15. Stryker
7. Marketing Channel, Distributors and Customers
7.1. Marketing Channel
7.2. Electro-Diagnostic Devices Distributors List
7.3. Electro-Diagnostic Devices Customers
8. Market Dynamics
8.1. Electro-Diagnostic Devices Industry Trends
8.2. Electro-Diagnostic Devices Growth Drivers
8.3. Electro-Diagnostic Devices Market Challenges
8.4. Electro-Diagnostic Devices Market Restraints
9. Global Electro-Diagnostic Devices Consumption and Demand Forecast, by Region (2022-2027)
9.1. Global Forecasted Demand Analysis of Electro-Diagnostic Devices, by Regions and Country
9.1.1. North America Forecasted Consumption of Electro-Diagnostic Devices by Country
9.1.2. Europe Market Forecasted Consumption of Electro-Diagnostic Devices by Country
9.1.3. Asia Pacific Market Forecasted Consumption of Electro-Diagnostic Devices by Region
9.1.4. Latin America Forecasted Consumption of Electro-Diagnostic Devices by Country
9.1.5. Middle East and Africa Forecasted Consumption of Electro-Diagnostic Devices by Country
10. Research Finding and Conclusion
11. Methodology and Data Source
11.1. Methodology/Research Approach
11.1.1. Research Programs/Type
11.1.2. Market Size Estimation
11.1.3. Market Breakdown and Data Triangulation
11.2. Data Source
11.2.1. Secondary Sources
11.2.2. Primary Sources
11.3. Author List
11.4. Disclaimer
Research Methodology
Our research studies are primarily performed in five phases which include Secondary Research, Primary Research, Subject Matter Expert Advice, Quality Check, and Final Review. The process opted for conducting thorough research to make authentic business reports is briefly described below-
Secondary Research-
- Based on the understanding of requirements, we conducted secondary research to identify the Segment specifications, qualitative and quantitative data along with the factors responsible for the growth of the market.
- The secondary sources referred for the study include press releases, company annual reports, and research papers related to the industry.
- Various sources such as industry magazines, trade journals, government websites, and associations were also reviewed for gathering precise analysis on opportunities for business expansions in the market.
- Moreover, quantitative as well as qualitative data were also extracted from paid databases, which included Reuters, Factiva, Bloomberg, One Source, and Hoovers, which proved to be useful for in-depth technical study of the market.
Primary Research-
- The research carried out during the desk research was verified by primary interviews. Primary research was scheduled with a number of industry experts for conducting telephonic interviews, and also our team send questionnaires through their official emails.
- The secondary data collected was then verified by various industry participants which included Segment managers, marketing managers, VPs, CEOs, purchasing managers, subject matter experts.
- An interview with the mentioned participants aids invalidation of our research findings regarding the Segment.
- It helps in the provision of first-hand data on factors such as market size, growth, regional trends, market trends, and competition in the industry. This approach makes our findings precise in order to help our clients in strategic decision-making processes.
Subject Matter Advice-
- The secondary and primary research key findings were then validated by the in-house subject matter experts having extensive experience in the market research industry.
- Specific requirements of the clients were reviewed by the experts to check for completion of the market study. Experts help in channelizing the representation skills of the analyst in terms of providing data that can be easily understood by our customers.
Quality Check-
- The analysis done by the research team was further reviewed to check for data accuracy provided to suit the clients’ specific requirements.
- This revision was done in various phases to check the data authenticity and to remove negligible errors in the final compilation.
Final Review-
- After the quality check, a final review of the report was done to look after the presentation, formatting, and to recheck if all the requirements of the clients were addressed. The next phase remains dispatch of the report to the client.
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