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Brain Mapping Instruments Market Size (2024 - 2029)

The brain mapping instruments market is anticipated to experience growth due to increasing demand driven by the rising prevalence of neurological disorders, which have been exacerbated by the COVID-19 pandemic. The impact of the virus on the central nervous system has heightened the need for these instruments. Technological advancements and new product launches are also contributing to the expansion of the market. However, the high cost of these instruments may pose a challenge to market growth.

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Market Size of Brain Mapping Instruments Industry

Brain Mapping Instruments Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.80 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Brain Mapping Instruments Market Major Players

*Disclaimer: Major Players sorted in no particular order

Brain Mapping Instruments Market Analysis

  • The brain mapping instruments market is expected to grow at a CAGR of 5.8% during the forecast period.
  • COVID-19 is an incomparable global public health emergency that has affected almost every industry. For instance, according to the article published in the Journal of Alzheimer's Diseases in December 2021, COVID-19 is not only confined to the respiratory system but also leads to neurological and neuropsychiatric disorders. This suggests that the virus can affect the central nervous system (CNS), which may result in cognitive impairment after COVID-19 subsides. As a result, neurological diseases worsened in COVID-19 patients. This created a demand for brain mapping instruments-this significantly impacted market growth during the pandemic.
  • The global incidence and prevalence of neurological disorders like dementia, epilepsy, Parkinsonism, Huntington's, multiple sclerosis (MS), brain stroke, and cerebral palsy (CP) increased significantly over the years. Brain disorders are the leading cause of morbidity around the world.
  • For instance, according to the September 2021 update by the World Health Organization (WHO), about 55 million people worldwide were living with dementia in 2021, and nearly 10 million cases are reported every year. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60%-70% of the total cases of dementia. With the growing prevalence of Alzheimer's worldwide, the demand for brain mapping instruments is expected to increase during the forecast period.
  • Additionally, technological advancement in the product and product launches by the key market players is likely to support the market's growth. For instance, in July 2021, Omniscient Neurotechnology, a pioneering brain mapping software company, received United States FDA (USFDA) clearance for Quicktome, a digital brain mapping platform that allows neurosurgeons to visualize and understand a patient's brain network before performing life-changing brain surgery.
  • Additionally, in January 2021, South Korean biomedical start-up iMediSync designed an EEG digital biomarker for the early detection of Alzheimer's dementia on its AI cloud platform. Thus, all the above-mentioned factors are expected to boost market growth over the forecast period.
  • However, the high cost of brain mapping instruments may restrain the market growth.

Brain Mapping Instruments Industry Segmentation

As per the report's scope, brain mapping is a technique used to study the structure and functions of different brain parts. Brain mapping helps physicians identify brain areas involving movement, vision, sensation, and speech. The brain mapping instrument helps detect tumors, seizures, toxic injuries, and Alzheimer's disease. This is also helpful in observing external conditions like brain structure and reasons for brain diseases and mental illness. 

The brain mapping instruments market is segmented by product (computed axial tomography, positron emission tomography electroencephalography, functional near-infrared spectroscopy, functional magnetic resonance imaging, and other products), end user (hospitals, diagnostic centers, and other end users), and geography (North America, Europe, Asia-Pacific, Middle East, and Africa and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. 

The report offers the value (in USD million) for the above segments.

By Product
Computed Axial Tomography (CAT)
Position Emission Tomography
Electroencephalography (EEG)
Functional Near-Infrared Spectroscopy (fNIRS)
Functional Magnetic Resonance Imaging (fMRI)
Other Products
By End User
Hospitals
Diagnostic Centers
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Brain Mapping Instruments Market Size Summary

The brain mapping instruments market is poised for significant growth, driven by the increasing prevalence of neurological disorders and advancements in technology. The demand for these instruments has been bolstered by the impact of COVID-19, which has exacerbated neurological conditions, thereby highlighting the need for effective brain mapping solutions. The market is further supported by the rising incidence of disorders such as dementia, epilepsy, and Parkinson's disease, which are leading causes of morbidity globally. Technological innovations and product launches by key players, such as Omniscient Neurotechnology and iMediSync, are expected to enhance the capabilities of brain mapping instruments, contributing to market expansion. However, the high cost of these instruments may pose a challenge to market growth.

North America leads the global brain mapping instruments market, attributed to the high prevalence of neurological disorders and a robust healthcare infrastructure. The region's market growth is further fueled by private investments and initiatives aimed at advancing brain research and treatment. The increasing number of hospitals in the United States also drives demand for these instruments. The market is moderately competitive, with major players like General Electric Company, Koninklijke Philips N.V., and Siemens Healthineers actively participating. Collaborative efforts, such as the Brain Genome Project and developments like Kernel Flow, underscore the ongoing commitment to enhancing brain mapping technologies. These factors collectively indicate a promising growth trajectory for the brain mapping instruments market over the forecast period.

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Brain Mapping Instruments Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Prevalence of Neurological Disorders

      2. 1.2.2 Rising Technological Advancements

      3. 1.2.3 Rise in Geriatric Population

    3. 1.3 Market Restraints

      1. 1.3.1 High Cost of the Brain Mapping Instruments

      2. 1.3.2 Poor Healthcare Insurance Coverage

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product

      1. 2.1.1 Computed Axial Tomography (CAT)

      2. 2.1.2 Position Emission Tomography

      3. 2.1.3 Electroencephalography (EEG)

      4. 2.1.4 Functional Near-Infrared Spectroscopy (fNIRS)

      5. 2.1.5 Functional Magnetic Resonance Imaging (fMRI)

      6. 2.1.6 Other Products

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Diagnostic Centers

      3. 2.2.3 Other End Users

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Brain Mapping Instruments Market Size FAQs

The Brain Mapping Instruments Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)

General Electric Company , Koninklijke Philips N.V., Advanced Brain Monitoring, Inc., Siemens Healthineers and Natus Medical Incorporated are the major companies operating in the Brain Mapping Instruments Market.

Brain Mapping Instruments Report Snapshots

Brain Mapping Instruments Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)