The Asia-Pacific region has the fastest-growing market for neurology monitoring devices. The developing economies like India and China are making large investments in healthcare and medical research, making advanced technologies like these more accessible and affordable. Countries such as Japan and South Korea have a high per capita income and more advanced technologies available, contributing to the fast-growing Asia-Pacific market. There is also increased awareness among patients about the healthcare facilities available.
Furthermore, the increasing target disease burden in the region is fueling the market growth. According to an article published by M Gourie Devi, the average crude prevalence rate of common neurological disorders in India is 2394 and ranged from 967 to 4070/100000 population with a higher prevalence rate in rural compared to the urban population for the year 2018. There is an increasing number of patients with neurological disorders and therefore, increasing the neurology monitoring devices is found to be used in the region.
Key Market Trends
Electroencephalography (EEG) Devices is Expected to be Fastest Growing Segment in the Neurology Monitoring Market
Electroencephalography (EEG) is an electrophysiological monitoring method that is used to record the electrical activity of the brain. It is typically noninvasive, with the electrodes placed along the scalp, although invasive electrodes are sometimes used, as in electrocorticography. An EEG is one of the main diagnostic tests for epilepsy and sleep apnea.
An EEG can also play a role in diagnosing other brain disorders. According to Eugen Trinka in the article 'Epilepsy in Asia: Disease burden, management barriers, and challenges' published in 2018 stated that about 4 billion people live in Asia, of them, 23 million people have epilepsy. Therefore with the huge patient pool, the segment growth is expected to increase in the forecast period.
The Asia-Pacific Neurology Devices Market is moderately competitive with several major players. Some of the key players in the market are Natus Medical Inc., Philips, Nihon Kohden Corporation, GE Healthcare, Drägerwerk, and Siemens Healthineers, which are found focusing on R&D to develop the technologically-advanced products in order to reduce the cost and side effects associated with the products.
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