The global electroencephalography (EEG) and electromyography (EMG) market has been anticipated in a report by Transparency Market Research (TMR) to witness the lead secured by top companies such as Masimo Corporation, Electrical Geodesics, Inc., and Nihon Kohden Corporation. In 2016, these players collected a 58.5% share, indicating their dominance in the market. In order to expand their business, they have been expected to improve their presence in developing regions. If they ever lose their supremacy in the market, you might see them taking to acquisition strategies and diversifying their product portfolios.
TMR analysts have foreseen the market to rise at a 7.4% CAGR between 2016 and 2024 to be valued at a US$2.4 bn by the final forecast year. In 2015, there had been a valuation of US$1.3 bn attained by the market. With respect to product, the market could have EEG securing a 62.4% dominating share by 2024. A regional analysis of the market has foretold North America to possess a 36.5% share by the completion of the same year.
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Aging Population Prone to Neuron Disorders Increases Growth
Several researches have highlighted the vulnerability of geriatrics to brain-related health problems such as neuron disorders. EEG and EMG neurophysiology devices find application in helping physicians to examine the functionality of the peripheral and central nervous system. Thus, the increase in the size of geriatric population has been predicted to bode well for the world EEG-EMG equipment market. According to the Census Bureau, the U.S. could see a 20.0% of its population being elderly by the closure of 2030. In this regard, you could find a number of companies developing improved technologies and manufacturing enhanced products to cater to the needs of the healthcare industry and also patient demands.