Brain Monitoring Devices Market Size & Share, by Product (EEG Devices, MEG Devices, TCD Devices, ICP Monitors, Cerebral Oximeters, MRI Devices, CT Devices, PET Devices, Sleep Monitoring Devices, EMG Devices and Accessories); Procedure; Application; End use - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

North America Market Statistics

North America is expected to account for 40.1% share in the brain monitoring devices market during the forecast period owing to high prevalence of neurological diseases, presence of robust healthcare infrastructure and rapid innovations in brain monitoring technology.

The U.S. is the primary contributor to the North America market since it invests the highest amount of money in healthcare globally. In 2022, the U.S. government spent around USD 1.5 trillion on healthcare. The increase in the geriatric population in the U.S and high prevalence of neurological diseases are key factors boosting market growth in the country. A Population Reference Bureau (PRB) report from January 2024 highlighted that there will be a 47% increase in the geriatric population in the U.S. between 2022 to 2050. Due to the rise in neurological disorders and the need for advanced care for an increasingly ageing population, the demand for brain monitoring devices is expected to witness a boost.

Canada is another major contributor to the North America market. Canada spends around 12.5% of its GDP on healthcare making the healthcare infrastructure conducive for market growth. The cases of neurological disorders such as strokes and brain tumors are increasing by 1% annually which points to the growing demand for brain monitoring devices. The growth has also been boosted by technological breakthroughs such as in September 2022, portable brain scanner technology NeuroCatch received approval by Health Canada.

Asia Pacific Market Analysis

Asia Pacific brain monitoring devices market is poised to be the fastest-growing region during the forecast period owing to factors such as the aging population, improving health infrastructure, increasing income levels, and rising awareness for advanced neurological care. In addition, the rising number of hospital and diagnostics centers in countries such as Japan, India, China, and South Korea and increasing patient footfall with neurological conditions have led to growth in the market.

In India, the sales of brain monitoring devices are expected to drastically increase during the forecast period owing to rising cases of neurological disorders in the country. As per an NLM report, around 30 million people are diagnosed with neurological disorders in India with the most common being stroke, Parkinson’s disease, dementia, epilepsy, and migraine. Another key market growth driver is the introduction of welfare programs such as Ayushmann Bharat that cover neurological disorders.

China is a major player in the brain monitoring devices market. The government has been investing more in the development and production of brain monitoring devices with several domestic players. The health infrastructure in the country has developed rapidly to cater to the huge population, leading to market growth. As per an NLM report, stroke cases in the country had increased by around 3 million in 2019, leading to rising sales of brain monitoring devices.

Japan is poised to be a significantly large market for brain monitoring devices during the forecast period as it has the highest percentage of aging population. The country sees increased spending on healthcare by the government due to the ageing population and a rise in Alzheimer's cases. The technologically driven landscape in the country and growing demands for brain monitoring devices is expected to be significant drivers in the continued brain monitoring devices market growth.