Neurodiagnostic and Monitoring Devices Market Trends, Growth, Analysis and Overview

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Neurodiagnostic and Monitoring Devices Market Share, Size,
Emerging Trends and Growth, Analysis, Overview and Forecasts
2016-2020
Technavio Announces the Publication of its Research Report – Neurodiagnostic and Monitoring Devices
Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the neurodiagnostic and monitoring
devices market in the US: Cadwell, Compumedics, Natus Medical, and Nikon Kohden.
Other Prominent Vendors in the market are Blackrock NeuroMed, Delsys, Electrical Geodesic (EGI),
Elmiko, LifeLines Neurodiagnostic Systems, MEG International Services, Mega Electronics, Motion Lab
Systems, Neurovirtual, Nonin Medical, Philips, and Zynex NeuroDiagnostics.
Commenting on the report, an analyst from Technavio’ s team said that health informatics and
monitoring solutions is one of the key trends that led to the growth of this market. Health informatics
and monitoring solutions has revolutionized the healthcare system, as they enable remote access to
vital information contained in devices such as cerebral oximeters and capnography monitors. The inbuilt software transfers data regarding patient's health to servers in hospitals, which can be accessed via
tablets, smartphones, and computers. This enables clinicians to remotely monitor patients recovering
from acute care situations in an efficient manner. For example, centrally monitored continuous oximetry
can reduce rapid response calls and transfers to the ICU.
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According to the report, increased prevalence of neurological disorders is a major factor promoting
growth for the market. Prevalence of chronic disorders such as strokes, ischemic strokes, migraines,
epilepsy, dementias, Parkinson’ s disease, and multiple sclerosis is on the rise across the US. These
neurological disorders are linked to unhealthy dietary habits, lack of exercise, obesity and stress, hectic
lifestyles, infections, genetic abnormalities, and physical injuries. According to the American Academy of
Neurology, in 2014, neurologic disorders accounted for 7% of all global diseases. Mortality rates for
these neurological disorders amounted to 18.8 per 100,000 individuals in the US. Prompt diagnosis and
effective monitoring of these disorders are critical for the recovery of patients. The high incidence of
these neurological disorders is expected to propel the demand for neurodiagnostic and monitoring
devices.
Further, the report states that lack of skilled workforce is leading to a drop in demand for
neurodiagnostic and monitoring devices, as these can only be operated by skilled professionals.
Neurodiagnostic and monitoring devices are complex systems that require handling by experts. Only
neurologists and highly skilled technicians perform these procedures in hospitals, clinics, and
neurophysiological laboratories. There is a dearth of neurologists and neurosurgeons with expertise in
neuromonitoring. In 2012, about 16,500 neurologists were available in the US as against a requirement
of 18,000 neurologists, a deficit of 11%. By 2025, the requirement is expected to increase to 21,000.
The study was conducted using an objective combination of primary and secondary information
including inputs from key participants in the industry. The report contains a comprehensive market and
vendor landscape in addition to a SWOT analysis of the key vendors.
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About Neurodiagnostic and Monitoring Devices
Neurodiagnostic and monitoring devices are used to monitor and record electrical activity in the brain,
muscles, spinal cord, and other nerves. These devices are primarily used for diagnosing chronic brain
disorders, such as sleep disorders, brain tumors, epilepsy, brain dysfunction, head injuries, encephalitis,
strokes, and dementia.
Technavio’ s analysts forecast the neurodiagnostic and monitoring devices market in the US to grow at a
CAGR of 8.63% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the neurodiagnostic and monitoring
devices market in the US for 2016-2020. To calculate the market size, the report considers the revenue
generated from the sales of Electroencephalogram (EEG), Electromyography (EMG), Transcranial
Doppler, Intracranial pressure monitor, and Cerebral oximeters.
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The market is divided into the following segments based on product:
• EEG
• EMG
• Transcranial Doppler
• Intracranial pressure monitor
• Cerebral oximeters
Technavio's report, Neurodiagnostic and Monitoring Devices Market in the US 2016-2020, has been
prepared based on an in-depth market analysis with inputs from industry experts. The report covers the
market landscape and its growth prospects over the coming years. The report also includes a discussion
of the key vendors operating in this market.
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According to the report, increased prevalence of neurological disorders is a major factor promoting growth for the market. Prevalence of chronic disorders such as strokes, ischemic strokes, migraines, epilepsy, dementias, Parkinson s disease, and multiple sclerosis is on the rise across the US.