Dublin, April 06, 2023 (GLOBE NEWSWIRE) -- The "Global Magnetoencephalography Market Size, Share & Industry Trends Analysis Report By Application, By End-use, By Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Magnetoencephalography Market size is expected to reach $350.1 million by 2028, rising at a market growth of 5.1% CAGR during the forecast period.
Key Market Players
List of Companies Profiled in the Report:
- Compumedics Limited
- Ricoh Company, Ltd
- FieldLine, Inc
- MEGIN OY
- CTF MEG Neuro Innovations, Inc
- Cerca Magnetics Limited
The magnetic field measurement created by the electrical activity of neurons is referred to as magnetoencephalography, abbreviated as MEG. In most cases, magnetic resonance imaging is also performed alongside it to get the result known as magnetic source imaging.
The superconducting quantum interference detector, which functions similarly to a very sensitive magnetic field meter, is the piece of technology that has been instrumental in recording these extremely minute magnetic fields.
The MEG is housed in a chamber that has been magnetically insulated so that the magnetic noise from the environment may be reduced. Magnetometers and/or gradiometers are the types of sensors used to record magnetic fields. There is no disruption to the MEG fields as they travel through the skull. MEG has this major benefit over electroencephalography, which is a significant advantage. In addition, MEG gives a high resolution both spatially and temporally.
The term 'magnetoencephalography' (MEG) refers to measuring the magnetic fields produced when electric currents flow through the brain. The magnetic field measurements fall somewhere in the femto-tesla to pico-tesla range. The time of neural activity can be resolved with a very high level of precision using MEG. This is a test that is not intrusive in any way.
MEG is a straightforward method of measuring brain activity and has a very high resolution in terms of time. In addition to that, the spatial resolution is relatively high. In order to provide a comprehensive view of the brain's structure, magnetic resonance imaging (MRI) and magnetoencephalography (MEG) are often used in conjunction with one another.
Magnetic source imaging is the name given to the process that combines MRI and MEG (MSI). At this time, the only clinical applications that have been authorized for its usage in the United States of America are those involving epilepsy surgery and pre-operative brain mapping. In the United States, epilepsy centers are affiliated with most clinical MEG facilities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 206 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $248.7 Million |
| Forecasted Market Value (USD) by 2028 | $350.1 Million |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
Market Growth Factors
Increasing old aged population
According to the World Health Organization (WHO), by the year 2030, one in six persons around the globe will be at least 60 years old. The percentage of the world's population that is 60 years old or older is expected to rise from 1 billion in the year 2020 to 1.4 billion in the year 2050. The number of persons aged 60 and older throughout the globe is expected to more than quadruple by the year 2050. (2.1 billion).
It is anticipated that the population of people who are 80 years old or older will reach a total of 426 million between 2020 and 2050. Although nations with higher incomes were the first to experience what is now known as population aging (a movement in the age distribution of a country's population toward older ages), it is currently low- and middle-income countries that are suffering the most significant change as a result of this trend.
The Ever-Increasing Cost of Healthcare
The increase in the number of investments made in the healthcare sector by the governments of a variety of nations, as well as the quantity of those investments, is one of the primary reasons driving the growth of the market. It is projected that more emerging countries will have better access to higher-quality healthcare due to the rapid economic growth of these nations and the rising expenses of healthcare.
This is seen as a promising sign of growth for the surgical planning software market, which is expanding. As a result of the growing prevalence of health problems in these countries, there has been an uptick in demand for various treatments and equipment.
Market Restraining Factor
Presence of alternate testing equipment
However, MEG is rather expensive and needs liquid helium to keep its superconducting equipment in working order. In comparison to the tens of thousands and hundreds of thousands of MRI and EEG sites worldwide, there are just a relative handful of MEG laboratories.
The MEG technology is less accessible to the general public due to its high price and limited availability. Several options than MEG can be chosen from, each of which is much more beneficial and somewhat more affordable.
Scope of the Study
Market Segments Covered in the Report:
By Application
- Clinical
- Epilepsy
- Dementia
- Autism
- Stroke
- Multiple Sclerosis
- Schizophrenia
- Others
- Research
By End-use
- Hospitals
- Academic & Research Institutes
- Imaging centres
By Geography
North America
- US
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
For more information about this report visit https://www.researchandmarkets.com/r/mqdpb3
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