- Market expected to progress at CAGR of 9% until 2024, driven by technological advances and the integration of software and analytical tools in brain monitoring devices.
- North American market continues to dominate.
- As a company revolutionizing brain diagnostic devices market, BRSF seems ideally positioned within thriving market.
A recently published report on EEG and EMG devices market shows that the global brain monitoring market is expected to progress at a CAGR of 9%, increasing by more than $740 million from 2019 to 2024 (https://ibn.fm/qinVW). The report highlights that the market is fragmented with several players occupying the market share; the report goes on to feature Brain Scientific (OTCQB: BRSF) as one of 10 companies relevant in the EEG and EMG devices market globally.
The report aims to provide a holistic update to EEG and EMG devices market size offering and provide relevant insights into industry trends and forecasts. Among its findings, the report suggests that the overall impact of the COVID-19 pandemic will be positive on the health-care sector as the industry is expected to register higher growth rate compared to the global economy.
The robust growth of the EEG and EMG devices market, reaching approximately 8.4% in 2020, is mainly generated by the North American market, which tallied 40% of the total. The study expects the main driving forces for the robust growth of the market — the technological advances and the integration of software and analytical tools in brain monitoring devices — to remain one of the major forces driving the EEG and EMG devices market growth over the next few years.
The integration of software analytics with brain monitoring devices allows automation and standardization of complex monitoring procedures and is used for advanced processing and analysis of raw EEG data. This development aimed at improving patient experience and outcomes is expected to positively impact market growth.
As a commercial-stage, healthcare company providing novel solutions that modernize brain diagnostics, Brain Scientific looks to be ideally positioned to capture the robust growth of the EEG and EMG devices market expected over the next several years. BRSF has developed two easy-to-use, FDA-cleared products: the NeuroCap(TM), a flexible head cap for conducting electroencephalography, and the NeuroEEG(TM), a modern, portable, user-friendly EEG amplifier. Together these two offerings provide cost-effective and disposable substitutes to existing slow, expensive and cumbersome EEG devices, allowing any medical professional to apply EEG in five minutes or less.
Featured in the brain diagnostics market report, Brain Scientific looks to be leading in the growing industry. The company is currently focused on the North American market, which is expected to drive growth over the next several years. With its technology road map, which includes the development of AI-assisted diagnostic analysis to increase neurologist efficiency, consistency and accuracy, BRSF seems in a good place to leverage the momentum of the novel EEG diagnostics market.
For more information, visit the company’s website at www.BrainScientific.com.
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