Brain Mapping Instruments Market: Rise in trend of rental contract agreement among manufacturers fuels the growth of the market
Brain Mapping Instruments Market: Scope and Methodology
This report on the global Brain Mapping Instruments market analyses the current and future prospects of the market. The report comprises a comprehensive executive summary including a market snapshot that provides overall information of various segments and sub-segments. The research is a combination of primary and secondary research. Primary research represents a bulk of our research efforts along with the information collected from telephonic interviews and interactions via e-mails. Secondary research involves the study of company websites, annual reports, press releases, stock analysis presentations, and various international and national databases. The report provides market size in terms of US$ Mn for each segment for the period from 2015 to 2025, considering the macro and micro environmental factors. Growth rates of each segment of the global Brain Mapping Instruments market have been determined after a thorough analysis of past trends, demographics, future trends, technological developments, and regulatory requirements.
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Key Drivers of Global Brain Mapping Instruments Market
- The global brain mapping instruments market is likely to be driven by increase in the geriatric population. Rise in the size and proportion of population aged 65 and above increases the prevalence of Alzheimer’s or dementia. Hence, rise in prevalence of neurodegenerative diseases is anticipated to drive the global brain mapping instruments market during the forecast period.
- According to Alzheimer’s Association estimates, population aged 65 and older in the U.S. is likely to increase from 55 million in 2019 to 88 million by 2050
- Increase in research activity in brain research drives demand for modern research methods such as functional magnetic resonance imaging (fMRI) and transcranial magnetic stimulation (TMS). Moreover, different instruments are used for brain research to acquire comprehensive understanding. This in turn contributes to the growth of the global brain mapping instruments market.
- Rise in trend of rental contract agreement among manufacturers fuels the growth of the global brain mapping instruments market during the forecast period. According to rental contract agreement, end-users pay certain amount per brain mapping performed using brain mapping instruments installed free of cost by manufacturers. This helps low budget hospital and diagnostic labs to adopt advanced technology in brain mapping instruments without the need for capital investment.
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North America to Capture Significant Share of Global Brain Mapping Instruments Market
- North America was the leading market for brain mapping instruments in 2018, driven by rise in adoption of technologically advanced devices for brain mapping. Moreover, rise in prevalence of neurological disorders in the geriatric population is expected to propel the market during the forecast period. Favorable reimbursement policies of the U.S. Government for these instruments is anticipated to augment the market in the region during the forecast period.
- According to the Alzheimer’s Association, an estimated 5.8 million people in the U.S. are suffering from Alzheimer’s dementia
- Asia Pacific is expected to be the fastest growing market for brain mapping instruments during the forecast period due to improving health care infrastructure. Rise in the number of diagnostic centers is likely to fuel the growth of the global brain mapping instruments market in Asia Pacific.
Key Players Operating in Global Brain Mapping Instruments Market
Major players in the global brain mapping instruments market are:
- General Electric Company
- Koninklijke Philips N.V.
- Natus Medical Incorporated
- Advanced Brain Monitoring, Inc.
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