Market Overview:

The Global Electro Diagnostic Equipment Market Size Is Expected At USD 1.35 Billion In 2022 And USD 2.63 Billion By 2030 Expanding At A CAGR 8.7% From 2022-2030.

Researchers use electrodiagnostic (EDX) equipment to measure how electrically active nerves and muscles are. The information given by the diagnosis helps doctors and clinicians evaluate many conditions, such as neuropathy, myopathy, plexopathy, and neuromuscular junction disorders. Electrodiagnostic testing includes two special types of tests: Electromyography (EMG) and Nerve Conduction Studies (NCS). Nerve conduction studies (NCS) look at how nerves work by sending small electrical pulses through electrodes that are attached to the skin. Electromyography (EMG) is a test in which small needle electrodes are put into different muscles to show the electrical activity of the muscle.

Electrocardiogram (ECG), electroencephalogram (EEG), retinal electrocardiogram (ERG), and gastrogastric conduction are other diagnostic tests (EGG). Early diagnosis makes the disease easier to treat and saves lives. This is an important factor on which diagnostic equipment relies heavily. The electrodiagnostic equipment market is growing because more people are concerned about their health and more money is being spent on healthcare around the world.

Market Dynamics:

Driving Factors:

• Surging Applications of Electrocardiography 

Electrocardiography is the way that an electrocardiogram is made ( ECG or EKG ). Electrocardiogram is a way to record the changes in the heart's electrical activity that happen during a cardiac cycle. It can be called an EKG or an ECG. Most ventricular rates are between 60 and 100 beats per minute (bpm). Bradycardias (heart rates of less than 60 beats per minute) are usually caused by problems with the sinoatrial or atrioventricular (AV) nodes or the heart's conducting tissues (though these may also bring about certain tachyarrhythmias). Electrocardiograph is a piece of equipment that picks out the electric currents that the heart muscle makes when it contracts and relaxes. An electrocardiograph works on the idea that when a muscle contracts, it sends out a small electric current that can be found and measured by placing electrodes in the right places on the body. Electrocardiogram (ECG) can be used to show the rate and rhythm or pattern of the heart's contractions. It shows how the heart muscle is doing and is used to find out what's wrong with the heart. It helps the doctors decide if the heart is normal, if it is too big, or if some of its parts aren't working right. It can also show if the heart beats out of sync, which is called "arrhythmia." Doctors use it to find out if the heart is damaged when someone has high blood pressure, rheumatic fever, or a birth defect. An ECG also helps doctors figure out where a heart attack happened and how much damage it did, as well as how well the heart is healing. Electrocardiography is being used more and more, which is driving the growth of the Electro-Diagnostic Equipment Market from 2022 to 2027.

• Proliferating Application of Electrogastrography

Electrogastrography (EGG) is a non-invasive way to measure the electrical activity of the muscles in the stomach. The EGG test gives "a diagnosis of gastric dysrhythmia or eugastria in response to a provocative test and is an objective finding of neuromuscular abnormality of the stomach for patients with unexplained nausea and functional dyspepsia symptoms." Electrogastrography is used to find groups of patients who have upper GI symptoms like nausea and gastric dysrhythmias (versus symptoms and normal EGGs). Different medicines, such as domperidone, metoclopramide, and cisapride, can fix gastric dysrhythmias. When the dysrhythmia is fixed, upper GI symptoms get better. At baseline and with follow-up noninvasive EGG recordings, therapies with promising anti-arrhythmic or prokinetic effects can be looked into, whether they involve drugs or not. EGG testing can be done many times without causing pain or harm to the person being tested. Electrogastrogram is a symbol of a useful tool in psychophysiology that looks good. Its normal frequency in healthy people is about 0.05 Hz, or three cycles per minute, or one cycle every 20 s. Electrogastrography is being used for more and more things, which is why the Electro-Diagnostic Equipment Market is expected to grow from 2022 to 2027.

• Increasing the Prevalence of Neuromuscular Disease

Electrodiagnostics are becoming more popular as neuromuscular diseases like Amyotrophic Lateral Sclerosis (ALS), multiple sclerosis, and muscular dystrophy become more common. This, in turn, is driving the growth of the market for electrodiagnostic devices. For example, the Cleveland Clinic Foundation reported in 2016 that about 2.5 million people around the world have multiple sclerosis. Most people with MS have their first symptoms between the ages of 20 and 50.

The growing number of older people around the world is making neuromuscular disorders more likely, which is also a major factor in the growth of the electro-diagnostic devices market. For example, a report from the United Nations in 2017 said that the number of people 60 years or older is expected to grow from 962 million in 2017 to 2.1 billion in 2050. Also, the U.S. Census Bureau's 2017 National Population Projections say that by 2035, there will be about 76.7 million people under the age of 18 in the U.S. compared to about 78.0 million people age 65 and older.

Restraining Factors:

• Lack of Skilled Labour

Even though the need for electro-diagnostic tools is growing around the world, there aren't enough skilled workers in low-income countries like India. Electro-diagnostic devices market growth is being held back by bad labor laws and a lack of trained workers in India who can install, operate, repair, and service equipment.

• High Installation and Maintenance Cost

The growth of the market is also slowed by the high costs of installing and maintaining these complicated devices. For example, the high cost of an EEG system—nearly US$1,13,616—and its high cost of maintenance keep it from being widely used in Epilepsy Monitoring Units (EMUs) around the world, especially in developing economies where funding or reimbursements for these devices aren't enough.

Opportunities:

• Technological Advancements and Innovations

Electroencephalography, electrogastrography, and electroretinography are examples of new technologies that have opened up new ways for the electro-diagnostic equipment market to grow. Also, this equipment keeps the doctors up to date with accurate, real-time information that can be recorded. People all over the world are more aware of how important it is to catch diseases early, which has helped the market for electro-diagnostic equipment grow. The electro-diagnostic equipment market has also grown because people all over the world are more concerned about their health.

• Developing the Healthcare Infrastructure

The governments of many countries around the world are working to improve the infrastructure of health care. The market for electro-diagnostic equipment has grown because the government has given money to use new technology and equipment. With the goal of giving everyone access to well-equipped infrastructure, healthcare centers have put in place useful tools. Because of this, the world's top manufacturers are speeding up their production to keep up with the growing demand for electro-diagnostic equipment. All of these things have given the global market for electro-diagnostic equipment huge chances to grow.

Challenges:

• Disadvantages of Electrocephalography

Electroencephalography is the study of electrical activity in the head, which can be seen by looking at where the word comes from. Small electrodes are attached to the scalp, and the electrical fields made by large networks of neurons firing action potentials almost at the same time are found. In electroencephalography, a strong alpha-range frequency of 8 to 12 Hz is sometimes seen over the center of the head. This is called the mu rhythm (EEG). Mu is seen in between 20% and 40% of normal adults. It is made up of arch-shaped (arciform) waves that can happen on one side or both sides of the central regions. It is most noticeable when a person is getting sleepy. But electroencephalography has a problem that goes in the opposite direction. Any pattern of electrical field strengths found on the scalp could have been caused by an infinite number of possible patterns of electrical activity in space. This is complicated by the fact that the skull is not a good conductor, so electricity tends to "splash off" of it and flow sideways, making it much harder to figure out where the person is. Bayes' Rule can be used in clever statistical models to try to get around this fact, but any added complexity in an analysis pipeline is bad, especially if it makes it harder to come to a conclusion about a generative model. Because of this, these problems are making it hard for the Electro-Diagnostic Equipment Market to grow.

Electroencephalography is the study of electrical activity in the head. This is clear from where the word comes from. Small electrodes are put on the head, and the electrical fields made by large networks of neurons firing action potentials almost at the same time are found. Electroencephalography (EEG) sometimes shows a strong alpha-range frequency of 8 to 12 Hz over the middle of the head. We call this the mu beat (EEG). Mu is seen in 20% to 40% of adults who are healthy. It is made up of waves that look like arches and can come from one side or both sides of the center. When someone is getting tired, it's easy to tell. Electroencephalography, on the other hand, has a problem that goes the other way. Any pattern of electrical field strengths found on the head could have been caused by any of an infinite number of patterns of electrical activity in space.

Strategic Development:

• In December 2021 - GE said that it had finished buying BK Medical from Altaris Capital Partners, LLC. BK Medical is a leader in the field of progressive surgical visualization. The companies have come to an agreement that makes it clear that GE will buy BK Medical for $1.45 billion in cash on September 22, 2021. With the ability to use ultrasound before and after surgery, we make products that cover the whole spectrum of care, from diagnosis to treatment and beyond.
• In August 2021 - Nihon Kohden bought Advanced Medical Predictive Devices, Diagnostics, and Display (AMP3D) for an amount that was not made public. AMP3D has a large number of clinical prediction algorithms and a SaaS platform (software as a service). The company's CoMET (Continuous Monitoring of Event Trajectory) decision support software uses patient continuous monitoring data, vital signs, medical records, and laboratory tests to give real-time and ongoing risk trajectories for patients. indicate.
• In May 2019 - Nihon Kohden announced that the Neuropack S3 electrodiagnostic (EDX) system, which is a multimodality platform for neurodiagnostic procedures, would be coming out. The Neuropack S3 is expected to deliver high-quality his EDX surveys while reducing its size and making it easier to carry. It will do this by using the company's newest amplifier and signal processing technology. The Neuropack S3 system was made to be flexible enough to be used in a hospital or a private practice to do electromyography, nerve conduction studies, evoked potentials, and other diagnostic tests.
• In January 2019 - EEGSmart showed off its UMindSleep Mini EEG Sleep Monitor for the first time at the Consumer Electronics Show (CES).
• In January 2018 - IMEC, a research and development company that works with nanoelectronics and digital technologies, and the Holst Centre announced the release of an EEG headset that can detect emotions.

Key Vendors:

• Medtronic

Medtronic Plc is a medical technology company that develops, makes, distributes, and sells medical therapies and services that are based on devices. It works by using the following parts: Heart and Blood Vessels, Minimally Invasive Technologies, Restorative Therapies, and Diabetes.

• Abbott Vascular Devices

Abbott Vascular Devices Holland BV makes, studies, and comes up with new medicines. The company sells medicines for diagnostics, cardiovascular health, diabetes, eye health, nutrition, animal health, and nutrition. Abbott Vascular Devices Holland works with people all over the world.

• Boston Scientific Corporation

Boston Scientific Corporation creates, makes, and sells medical devices that don't require a lot of surgery. Interventional cardiology, cardiac rhythm management, peripheral interventions, electrophysiology, neurovascular intervention, endoscopy, urology, gynecology, and neuromodulation are all fields that use the company's products.

• Siemens Medical Solutions

Siemens Medical Solutions USA Inc. provides medical instruments and equipment. The company sells hearing aids, solutions for lab diagnostics, medical imaging products, healthcare IT products, and systems for image-based therapy.

• Philips Medical Systems

Philips Medical Systems Ltda offers hospital services in the areas of medicine and surgery. The hospital provides health care services like fluoroscopy, oncology, pathology, diagnostic ECG, and other similar services. Philips Medical Systems helps people all over the world.

• GE Healthcare

GE HealthCare Technologies Inc. (GE HealthCare) is a global medical device company that designs, develops, makes, and sells diagnostic imaging and clinical systems, products and services for drug discovery, biopharmaceutical manufacturing, and cellular technologies, imaging agents used in medical scanning procedures, and a variety of healthcare IT solutions.

Segmentation Analysis:

The market is segmented on the basis of product type, end-user and region.

By Product Type Outlook:

Electro-Diagnostic Equipment Market can be divided into Electromyogram (EMG), Nerve Conduction Study (NCS), Electrocardiography (ECG), Electroencephalography (EEG), Electroretinography (ERG), and Electrogastrography (EGG) based on the type of product (EGG). In 2021, the largest market share was held by the Electrocardiography (ECG) Segment. This growth is because Electrocardiography (ECG) is being used more and more to diagnose heart diseases. An electrocardiogram is a painless, non-invasive test that can help doctors figure out what's wrong with the heart. The growth of the Electrocardiography (ECG) segment is also being driven by the many benefits of ECG data collected by ECG sensors. For example, ECG data can help doctors evaluate rhythm and heart rate, the axis of the heart, and the condition of myocardial muscle.

Also, the Electrogastrography (EGG) segment is expected to grow at the fastest rate, with a CAGR of 8.7% from 2022 to 2027. This is because electrogastrography is being used more and more to figure out if the abnormal electric activity of the stomach is causing nausea, vomiting, or abdominal pain.

• Electromyogram (EMG)
• Nerve Conduction (NCS)
• Electrocardiography (ECG)
• Electroencephalography (EEG)
• Electroretinography (ERG)
• Electrogastrography (EGG)
• Others

By End-User:

Based on who uses the equipment, the Electro-Diagnostic Equipment Market can be split into two more groups: hospitals and research institutes. In 2021, the Hospitals segment had the biggest share of the market. This growth is due to the fact that the newest and most advanced medical equipment is easy to get to in hospitals where a lot of people go. An electrocardiogram is recommended to help the doctor figure out why a patient's heartbeat isn't beating in a normal pattern or rhythm. This makes it easier to find other problems or irregularities with the heart. Electrocardiography is being used more and more in electrodiagnostic investigations, and it's easy to find qualified and skilled doctors, which is also helping this segment grow.

Also, the Research Institute segment is expected to grow at the fastest rate, with a CAGR of 9.0% from 2022 to 2027. This is because electrogastrography and main electro-diagnostic investigations, such as nerve conduction studies (NCS), somatosensory evoked potential studies (SSEPs), and electromyography, are being used more and more in research (EMG).

• Hospitals
• Clinics
• Diagnostic Centers
• Others

Regional Insights:

North America is expected to keep being the biggest market for electrodiagnostic equipment due to its well-established hospital system, high rate of acceptance of technologically advanced products by medical professionals, and growing knowledge of new medical equipment. The market is also growing because there are more and more neurological diseases. For example, the National Centers for Biotechnology Data say that about 1 million people in the United States got sclerosis in 2016.

Because there are so many people in Asia, the industry for electrodiagnostic devices is expected to grow the fastest there. In countries like India, where hospital spending is going up, this will help the health care industry grow. The electrical diagnostic equipment industry is expected to grow because technology is getting better and more people in the region want better electrical diagnostic tools.

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • France
  • Italy
  • Spain
  • UK
  • Nordic Countries
    • Denmark
    • Finland
    • Iceland
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia-Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Scope of Report:

Report Attribute	Details
Study Period	2017-2030
Base Year	2022
Estimated year	2023
Forecast period	2023-2030
Historic Period	2017-2022
Units	Value (USD Billion)
Growth Rate	CAGR of 8.7% from 2023 to 2030
By Product Type	Electromyogram (EMG) Nerve Conduction (NCS) Electrocardiography (ECG) Electroencephalography (EEG) Electroretinography (ERG) Electrogastrography (EGG) Others
By End-User	Hospitals Clinics Diagnostic Centers Others
By Companies	Medtronic Abbott Vascular Devices Boston Scientific Corporation Siemens Medical Solutions Philips Medical Systems GE Healthcare
Regional Scope	North America Europe Asia-Pacific The Middle East & Africa Latin America
Reasons to Purchase this Report and Customization Scope	6-month post-sale analyst assistance. 10% Free Customization and 15 Company Profiles in addition to the ones specified

Conclusion:

• The scope of the global Electro-Diagnostic Devices market report is a detailed study of the factors that drive the industry trends.
• The report looks at how markets are changing at the regional and country level. The scope also includes an overview of the competition, with company market shares and profiles for the top revenue-generating companies.
• The report's scope includes a detailed look at the competitive landscape, including market shares and profiles of the major players in the global Electro-Diagnostic Devices market.