Brain mapping instrument market to reach USD 4.6B

The Brainy Insights estimates that the USD 2.5 billion brain mapping instrument market will reach USD 4.6 billion by 2032. The benefits offered by HMI are the key drivers driving the growth of the brain mapping instrument market. It has significantly enhanced production processes in various industries, including chemical and petrochemical, water and wastewater treatment, paper and pulp, energy and utilities, pharmaceutical, oil and gas, food and beverage, and automotive. As a result, the use of HMI in various applications propels the brain mapping instrument market forward. Furthermore, because HMI collects data and offers supervisory control throughout the system, the operators can make parameter changes as needed.

North America to account for the largest market size during the forecast period
North America will have the most significant brain mapping instrument market share. Private investment is also expanding, which is helping market growth. For example, in June 2022, the CAMH, a major player in brain mapping, will begin a campaign in Canada and the United States to raise donor funding and mental health awareness to develop effective, personalized medication. Furthermore, scientists at Washington University School of Medicine in St. Louis will join a national network in September 2021 to map the intricacies of the brain, increase understanding of how the brain works, and generate new insights into how the brain functions in healthy people and how it malfunctions in Alzheimer’s, schizophrenia, autism, and a variety of other conditions. As a result, the increased prevalence of neurological diseases will likely fuel demand for brain imaging devices.

The computed tomography segment dominated the market with the most significant revenue of USD 0.92 billion
The computed tomography segment dominated the market with the most significant revenue of USD 0.92 billion. A computed tomography scan (CT scan, formerly known as computed axial tomography scan or CAT scan) is a medical imaging technology that produces comprehensive internal images of the body. Radiographers and radiology technologists are the people who do CT scans.

The hospital segment dominated the market with the most significant revenue of USD 0.97 billion
The hospital segment dominated the market with the most significant revenue of USD 0.97 billion. The rising market introduction of technologically improved items will likely drive segment growth. For example, IBS Hospital launched India’s first brain imaging technology, connectomics/Quicktome, in August 2022. Treatment for brain tumours and other brain procedures has become much safer with the development of such customized brain mapping, and accuracy has allowed avoiding injury to vital brain areas.

Latest development:

• In May 2022, Elekta will release its next-generation Gamma Knife. Clinicians will benefit from speedier and more automated treatment planning using this technology.
• In May 2021, Philips will release its Spectral Computed Tomography 7500 System. This device provides high-quality spectral images for each patient and aids in illness characterization.

Market dynamics:
Drivers: Rising brain-related illnesses
The brain mapping instrument market is expanding as the prevalence of brain-related illnesses such as Alzheimer’s disease, epileptic seizures, toxic injuries, and tumours rises. Furthermore, the number of neurological occurrences among populations is increasing, there is a growing geriatric population, and there is increased awareness and acceptance of modern brain imaging technologies.

Restraint: Maintenance cost
The brain mapping instrument market’s growth needs to be improved by issues such as expensive equipment prices and maintenance and a lack of reimbursement schemes.

Opportunity: Rising R&D spending
Market growth possibilities include increased R&D spending by medical device makers, increased interest in amputation treatments, and the introduction of new devices with enhanced features.

Challenge: High cost
Because brain imaging instruments are expensive, only some patients can afford them. This stymies the market for brain mapping instruments.

Some of the major players operating in the brain mapping instrument market are:

• Elekta AB
• Advanced Brain Monitoring, Inc.
• Siemens AG
• Medtronic plc
• Koninklijke Philips N.V.
• General Electric Company
• Brain Products GmbH
• Brainscope Company Inc.
• Compumedics Limited

Key segments cover in the market:
By product type:

• Computed Tomography
• Electroencephalography (EEG)
• Positron Emission Tomography (PET)
• Magnetic Resonance Imaging (MRI)
• Near-Infrared Spectroscopy (NIRS)
• Others

By end-user:

• Ambulatory centers
• Hospitals
• Others

The Brainy Insights