Brain Mapping Instruments Market: Introduction
- Brain mapping is an integral part of contemporary neurosurgery. Brain mapping provides essential information of the structure and function of a human brain.
- Brain mapping instruments identify abnormalities such as tumors, seizures, and physical injuries to the brain such as concussion
- Eloquent regions of the cortex such as motor, somatosensory, Wernicke’s, and Broca are mapped either preoperatively or intraoperative using brain mapping instruments. Significant technological advancements in brain mapping instruments is projected to boost the growth of the global brain mapping instruments market.
- Extensive adoption of non-invasive techniques such as functional magnetic resonance imaging (fMRI) and magnetoencephalography is anticipated to drive the global market during the forecast period, as these techniques can perform multiple neuroimaging tests with minimal discomfort to patient.
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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.
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.
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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.
Global Brain Mapping Instruments Market: Research Scope
Global Brain Mapping Instruments Market, by Instrument Type
- Functional Magnetic Resonance Imaging (fMRI)
- Computed Axial Tomography (CAT)
- Electroencephalography (EEG)
- Functional Near-infrared Spectroscopy (fNIRS)
- Positron Emission Tomography (PET)
Global Brain Mapping Instruments Market, by End-user
- Diagnostic Centers
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.