Getting dizzy while driving is not the surprising factor at all. Renowned organizations like Changhong Research Labs and Freer Logic have launched novel headrests with EEG technology equipped with it. The sensors integrated into the headrests will send an alert when the driver falls asleep inadvertently. EEG technology will help in monitoring and read the brain activity in the real-time, further sending the signal to the person.
Nowadays, ECG and EEG tests are increasingly used by physicians across the globe for treating people with psychiatric and sleep disorders. ECG significantly tests the electrical activity of the heart and further diagnoses the abnormalities. On the other hand, electroencephalography calculates the electrical activity of the brain.
The demand for EEG and ECG testing is also expanding among the patients suffering from hyper-anxiety and insomnia. Additionally, these devices play an important role in calculating the parameters during the sleep study. According to a report, the global market for EEG and ECG is projected to collect over US$ 4,000 million in the coming years. It is growing at the lucrative CAGR of over 5.1% during the assessment period of time (2016-2024).
According to a report, ECG tests contributes for over one-third shares over the aforementioned period. Further, upgraded measurement and proficient consequences of EEG tests are significantly stimulating their preference over ECG tests. According to the predictions, over the coming years, patients suffering from sleep-related diseases and psychiatric ailments will increasingly choose EEG tests. EEG tests are likely to account total revenues of above US$ 3,800 million by the end of the assessment period.
ECG And EEG Demand in Sleep Testing Methods to Gain Momentum
Sleep clinics and hospitals are said to be the biggest consumer for EEG and ECG tests in the treatment of psychiatric and sleep disorders. Also, individual home setting may observe rise in EEG and ECG tests. It is likely to contribute closer to 17% of total revenues by the end of 2024.
As mentioned above, the demand for ECG and EEG tests will exceed towards sleep testing services for patients. According to the estimations, ECG and EEG testing use for sleeping testing collected over 65% of total revenues in the year 2016. On the other hand, the use of EEG and ECG devices for mental health monitoring is likely to witness decent growth during the assessment period.
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Regionally, North America is the leading the market for EEG and ECG testing. The region is likely to observe maximum demand in the coming years with the total revenues of over 40%. On the other hand, the market demand in Europe is likely to gain the adequate drive and will value around US$ 1,600 million. Moreover, Asia Pacific will face the fastest growth with the CAGR of 5.5% in the coming years.
Several manufacturers across the world are involved in mergers and acquisitions activities in order to expand their business lucratively. Renowned players such as Carolinas Healthcare System along with developing players like United Family Healthcare will contribute to the substantial revenue for EEG and ECG tests in the coming times.