Magnetoencephalography Market Size 2024, Rising Trends, Growth Drivers, Challenges, CAGR Status, Opportunities and Forecast 2032: SPER Market Research
Magnetoencephalography (MEG) is a non-invasive neuroimaging technology that measures magnetic fields caused by electrical activity in the brain. It gives real-time information on neural activity with very high temporal precision (milliseconds) and good spatial resolution (a few millimeters). MEG operates on the concept that when neurons in the brain are active, they generate tiny magnetic fields. These magnetic fields can be detected by extraordinarily sensitive sensors (known as SQUIDs, or Superconducting Quantum Interference Devices) positioned around the person receiving the MEG scan. Researchers can use these magnetic fields to determine which parts of the brain are engaged during various tasks or at rest.
According to SPER Market Research, ‘Magnetoencephalography Market Size- By Application, By End User- Regional Outlook, Competitive Strategies and Segment Forecast to 2032’ States that the Global Magnetoencephalography Market is estimated to reach USD 0.50 billion by 2032 with a CAGR of 6.03%.
MEG technology is constantly evolving, with developments in sensor technology (e.g., SQUIDs), signal processing algorithms, and spatial resolution driving market expansion. These developments improve the accuracy, sensitivity, and usability of MEG systems, making them more appealing for research and therapeutic applications. The increasing understanding of brain functions and pathologies drives the desire for improved neuroimaging techniques such as MEG. Researchers and doctors are seeking non-invasive approaches with high temporal resolution to examine brain activity in real time, which is boosting the use of MEG equipment. MEG is increasingly being employed in clinical settings for pre-surgical mapping of brain function, especially in cases of epilepsy and brain malignancies.
MEG systems are expensive to buy, run, and maintain. The initial capital expenditure, as well as recurring costs for maintenance, cryogenic refrigeration, and specialized people, provide a considerable barrier, especially for smaller research organizations and clinics. Specialized technical skill is required to operate and analyze MEG data. There is a shortage of trained staff capable of operating MEG devices and analyzing the complicated neurophysiological data they produce. This inhibits the widespread acceptance and application of MEG technology. While MEG has good temporal resolution, its spatial resolution is inferior to techniques such as fMRI (functional Magnetic Resonance Imaging). This constraint may have an impact on the accuracy of mapping brain activity.
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During the epidemic, healthcare institutions and research centers faced budgetary constraints, resulting in lower capital expenditures. This influenced purchasing decisions for costly equipment like as MEG systems, creating delays in planned installations or upgrades. COVID-19 triggered a shift in research objectives to focus on the virus, epidemiology, and vaccination development. As a result, funding and resources that would have gone to neuroscience research, including MEG investigations, were misdirected. Facilities that use MEG systems confront issues in keeping operations running while adhering to infection control protocols. MEG systems demand patients to be in close proximity to sensitive equipment, making it difficult to ensure patient safety and operational efficiency during the epidemic.
North America dominated the magnetoencephalography market due to the presence of important manufacturers in the region, growth in R&D investments, and rise in government funding and initiatives. Some of the Key Players are Compumedics Limited, Croton Healthcare, CTF MEG International Services LP, FieldLine Inc., Ricoh Company Ltd.
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Magnetoencephalography Market Outlook
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