- Recent report estimates EEG equipment market will grow at 4.5% CAGR reaching $1.99 billion by 2026
- Driving forces include aging population, technological advances, increased use in neonatal intensive care units
- BRSF well-placed to capitalize on market’s robust growth
A recent report published by Allied Market Research estimates that the global electroencephalography (“EEG”) equipment market was $1.4 billion in 2018 and is expected to reach $1.99 billion by 2026, growing at a CAGR of 4.5% from 2019 to 2026 (https://ibn.fm/Jmxjq). As a commercial-stage, healthcare company dedicated to developing innovative medical devices in the neurological diagnostics space, Brain Scientific (OTCQB: BRSF) seems well placed to capitalize on the growing EEG equipment market.
The key driving forces behind the market growth include factors such as the aging population, which leads to the increase in demand for brain diagnostics due to neurological diseases, as well as the increase in adoption of EEG equipment in surgery centers coupled with technological advancements in this field. In addition, the rise in the incidence of neurological disorders such as epilepsy and Alzheimer’s disease also contributes to the increase in demand for EEG equipment.
The Allied Market report cites the disease diagnosis segment as the largest EEG equipment market segment measured by the market share and also the fastest-growing one due to the surge in prevalence of neurological disorders across the globe. The increase in adoption of EEGs in neonatal intensive care units is expected to be another major driving force behind the rapid growth of the diagnostic segment.
The demand for neurological diagnostic services is growing rapidly. Still, the supply of trained neurologists remains limited, resulting in significantly limited access to neurological care globally including in developed countries. This is where Brain Scientific’s solutions shine. BRSF has developed two FDA-cleared products: NeuroCap, a disposable, pre-gelled EEG headset that can be applied easily and quickly, and NeuroEEG, a lightweight, wireless, portable EEG amplifier for high-quality EEG tests.
Apart from designing solutions that address the needs of patients with neurodegenerative diseases such as Alzheimer’s, Brain Scientific is developing product line extensions to address the growing pediatric market, which the report also cites as one of the key factors contributing to the EEG equipment market growth. As a company dedicated to developing breakthrough EEG technology to solve the shortage in neurological care, Brain Scientific seems well positioned within the EEG equipment market to benefit from the growing unmet need for the brain diagnostics market.
For more information, visit the company’s website at www.BrainScientific.com.
NOTE TO INVESTORS: The latest news and updates relating to BRSF are available in the company’s newsroom at https://ibn.fm/BRSF
About BioMedWire
BioMedWire (BMW) is a bio-med news and content distribution company that provides (1) access to a network of wire services via InvestorWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with BMW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, BMW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. By cutting through the overload of information in today’s market, BMW brings its clients unparalleled visibility, recognition and brand awareness. BMW is where news, content and information converge.
To receive SMS text alerts from BioMedWire, text “STOCKS” to 77948 (U.S. Mobile Phones Only)
For more information, please visit https://www.BioMedWire.com
Please see full terms of use and disclaimers on the BioMedWire website applicable to all content provided by BMW, wherever published or re-published: http://BMW.fm/Disclaimer
BioMedWire (BMW)
San Francisco, California
www.BioMedWire.com
415.949.5050 Office
Editor@BioMedWire.com
BioMedWire is part of the InvestorBrandNetwork.