Magnetoencephalography (MEG) Market

Magnetoencephalography (MEG) Market: Introduction

Magnetoencephalography is the measurement of the magnetic field which is produced by the electrical activity of neurons in the brain. MEG combined with Magnetic Resonance Imaging is called as Magnetic Source Imaging. MEG is primarily used as a non-invasive device that detects intermittent seizure epilepsy discharges such as spikes and uses appropriate source localization techniques to determine the focus of epilepsy. The super-conducting quantum interference detector is used to record the minute magnetic field. Actual sensors that detect the magnetic field are magnetometers and gradient meters. Magnetometers provide the best signal and are most sensitive to sources deep in the brain but also to competing magnetic noise. Gradient meters have excellent noise reduction. The MEG field passes through the head without distortion. This is the main advantage of MEG over brain waves. MEG provides high spatial and temporal resolution. Records and identification information must comply with the guidelines of the American Magnetoencephalography Society published in 2011.

Structural MR imaging of the brain and spinal cord has revolutionized the accuracy of diagnosis of common diseases such as stroke and has greatly expanded the classification of neurological disorders. Advanced applications of MRI have made it possible to assess white matter tract completeness, local gray white mass, and cortical thickness.

MEG presently has authorization for use symptoms for pre-operative mind mapping and for use in epilepsy surgery in the U.S. MEG research has proven useful in locating minor tumors in the interior of the brain.

Key Drivers and Opportunities of Global Magnetoencephalography (MEG) Market

• MEG scanners are used worldwide, and the trend is increasing. For instance, in June 2021, FieldLine, a biotech company dedicated to improving brain diagnostics, launched its next-generation HEDscan device for non-invasive functional brain imaging. It is the first commercially available non-ultrasound full-head MEG system designed to help researchers and physicians better understand and diagnose a range of psychiatric disorders.
• Growth of R&D activities is a major driver of the market. For example, the HSE Institute for Cognitive Neuroscience has developed an innovative method for processing MEG data which allows for more specific identification of cortical activation regions. This approach helps diagnose various neurological disorders and prepares patients for brain surgery in basic clinical practice and in research.
• High cost of brain scans and magneto encephalogram scanners is a major constraint on the global market, especially in developing countries with inadequate redemption policies. Additionally, the availability of alternative scanners and their increasing preference for EEG are expected to hamper the market during the forecast period.

North America to Dominate Global Magnetoencephalography (MEG) Market

• North America dominated the MEG market, with the largest share of sales in 2020 being around 33 to 34 %. Presence of a large number of market competitors in the region and high frequency of new product launches are boosting the regional market. Furthermore, patient outcomes and safety are paramount in the U.S., and various projects have been launched to improve the quality and outcome of health care. North America spends far more on health care than any other country, which is another factor propelling the market.

• The market in Asia Pacific is expected to register the fastest CAGR of around 5% during the forecast period. This could be ascribed to the increase in demand for better imaging equipment and growth in prevalence of neurological disorders. Cerebrovascular accidents and neurodegenerative diseases are the most common neurological disorders in Asia, with more than 600 diseases worldwide. Aging and improved awareness and diagnosis of neurodegenerative diseases in APAC physicians and patients are anticipated to drive the market in the region.

Key Players Operating in Global Magnetoencephalography (MEG) Market

The global magnetoencephalography (MEG) market is fragmented due to the presence of international as well as local players. A large number of manufacturers hold major shares in their respective regions. Demand for magnetoencephalography (MEG) has increased in emerging as well as developed markets due to rise in awareness about technologically advanced products. Growth strategies adopted by leading players are likely to drive the global market. Key players operating in the global magnetoencephalography (MEG) market are listed below:

• Compumedics Limited
• Croton Healthcare
• Ricoh USA, Inc.
• CTF MEG International Services LP

Global Magnetoencephalography (MEG) Market: Research Scope

Global Magnetoencephalography (MEG) Market, by Application

• Clinical
• Autism
• Stroke
• Epilepsy
• Others

Global Magnetoencephalography (MEG) Market, by End-user

• Hospitals
• Clinics
• Others

Global Magnetoencephalography (MEG) Market, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia & New Zealand
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries
  • South Africa
  • Rest of Middle East & Africa