The Global EEG (Electroencephalography) Devices Market is on a robust growth trajectory, with projections indicating it will reach USD 2.0 billion by 2031, up from USD 1.13 billion in 2023. According to The Insight Partners, the market is expected to register a compound annual growth rate (CAGR) of 7.3% during the forecast period of 2023 to 2031. Technological advancements in EEG hardware and software are among the most defining trends shaping this evolution.

What Are EEG Devices?

EEG devices are medical tools designed to measure and record electrical activity in the brain. They are used extensively in diagnosing and monitoring neurological conditions such as epilepsy, stroke, brain tumors, sleep disorders, and head trauma. As both clinical and research applications continue to expand, the demand for more sophisticated and accessible EEG systems is accelerating globally.

Get PDF Sample: https://www.theinsightpartners.com/sample/TIPRE00007528

Key Market Drivers

One of the primary forces pushing market growth is the rising prevalence of neurological disorders worldwide. Stroke, for instance, remains a critical public health challenge — approximately 795,000 people in the United States experience a stroke annually, with around 610,000 of these being new cases, according to the Centers for Disease Control and Prevention. In India, the incidence of stroke has risen dramatically over the past few decades, with about 1.8 million people affected each year.

Beyond stroke, the aging global population is a major contributing factor. Older adults are inherently more vulnerable to neurological deterioration, and as the geriatric demographic grows, demand for EEG-based diagnostic tools is expected to rise correspondingly.

Mental health is another area creating significant opportunity. Around 1 in 5 adults in the United States lives with some form of mental health condition. Researchers are increasingly exploring the combined use of EEG devices and machine learning algorithms to detect and monitor psychiatric disorders by analyzing brain activity patterns — a development that could substantially broaden EEG applications.

Market Segmentation

The EEG devices market is segmented by product, application, device type, and end user. By product, the 32-channel EEG segment held the largest share in 2023, reflecting the preference for higher-resolution brain mapping in clinical settings. In terms of application, brain tumor diagnosis led the market, while sleep disorder monitoring and neuroscience research also represent substantial segments.

On the basis of device type, standalone devices currently dominate the market, although portable devices are gaining traction as mobile and remote healthcare demands increase. Hospitals and clinics remain the largest end-user segment, followed by diagnostic centers and academic research institutes.

Regional Landscape

North America currently leads the global EEG devices market, driven by a high burden of neurological disease, well-established healthcare infrastructure, and a strong presence of key industry players. Canada is also posting notable growth owing to increased healthcare spending directed at neurological conditions.

Asia Pacific is expected to register the highest CAGR through 2031. Factors fueling this growth include rapid adoption of telehealth and remote monitoring solutions, a growing demand for non-invasive diagnostic techniques, and expanding R&D investment across the region. The COVID-19 pandemic accelerated demand for remote EEG monitoring tools, a trend that has continued to sustain momentum post-pandemic.

Recent Developments

Recent market activity underscores the pace of innovation. In November 2022, Neurosteer received FDA approval for its single-channel EEG brain monitoring platform, which pairs a compact adhesive electrode strip with a pocket-sized sensor. In April 2024, Soterix Medical launched the MxN-GO EEG — a combined high-definition transcranial electrical stimulation and EEG system designed for mobile research environments.

Key Players

Leading companies operating in the EEG devices market include Brain Products GmbH, g.tec medical engineering GmbH, Cognionics, Neuroelectrics, Neurosky, Biosemi, EMOTIV, Koninklijke Philips N.V., and Bitbrain Technologies, among others.

Outlook

With technological innovation, an aging global population, and growing awareness of neurological and mental health conditions, the EEG devices market is well-positioned for sustained expansion through 2031. The convergence of wearable technology, AI-driven diagnostics, and telehealth integration is expected to further redefine how EEG devices are developed, deployed, and accessed across the world.