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ECG and EEG Testing Market Segmented By Electrocardiogram Testing, Electroencephalography Testing with Sleep Testing, Mental Health Monitoring Services in Hospital, Sleep Clinic, Individual Home Settings, General Clinics
Electrocardiogram (ECG) is a test that tests the electrical activity of the heart and diagnoses abnormalities in cardiac functioning. Electroencephalography (EEG) is used to calculate the electrical activity of the brain. ECG and EEG devices tracked in this report are used to calculate parameters vital for sleep study. Sleep study refers to the type of tests used to diagnose sleep disorders by analyzing various physiological parameters.
It is also used to measure mental health monitoring. Various disorders such as Parasomnia, Hypersomnia, Circadian Rhythm Sleeping Disorders and others are discussed in this report. The increasing prevalence of sleep disorders and mental disorders worldwide is the main factor responsible for increase in the market of ECG and EEG Testing over the forecast period.
The global market for ECG and EEG Testing is anticipated to represent an absolute dollar opportunity of US$ 177 Mn in 2017 over 2016 and incremental opportunity of nearly US$ 2,000 Mn between 2016 and 2024. The market is projected to grow from nearly US$ 4,000 Mn in 2015 to about US$ 6,000 Mn by 2024 end.
This represents a CAGR of 5.1% in terms of value over the forecast period. Increasing usage of ECG and EEG testing in psychiatric disorder for sleep disorder symptoms and to determine best treatment options is anticipated to create more opportunity for sleep service providers across the globe.
The ECG Testing segment is projected to register a 4.2% CAGR over the forecast period and be valued at more than US$ 2,000 Mn by 2024 end. The EEG Testing segment is the largest segment among the global ECG and EEG Testing market’s test type segments, which is estimated to represent nearly US$ 4,000 Mn (more than 60% share of the global market) by 2024, registering a CAGR of 5.6% over the forecast period. ECG Testing segment revenue in the global ECG and EEG Testing market is expected to grow 1.4x by 2024 end as compared to that in 2016.
EEG Testing segment revenue in the global ECG and EEG Testing market is expected to grow 1.5x by 2024 end as compared to that in 2016. The ECG segment is expected to create absolute dollar opportunity of nearly US$ 60 Mn in 2017 over 2016. The EEG segment is expected to create absolute dollar opportunity of nearly US$ 125 Mn in 2017 over 2016.
The EEG Testing segment was predicted to dominate the global ECG and EEG Testing market in revenue terms in 2016, and the trend is projected to continue throughout the forecast period. The ECG Testing segment accounted for 36.7% value share in 2015 and is projected to account for 34.3% share by the end of 2024. ECG Testing segment is expected to remain the least attractive segment in the global ECG and EEG Testing market in revenue terms with an attractiveness index of 0.7 over the forecast period.
Sleep study and ECG and EEG testing for mental health monitoring includes measurement of electrical brain and heart activity in patients with mental disorders. These tests are performed in order to check the role of sleep apnea in early stages of mental disorders or to check the dosage regimen for treatment and to determine the best treatment options.
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