Global EMG Biosensors Market Highlights over 2022 – 2031
The global EMG biosensors market is estimated to grow at a CAGR of ~6% over the forecast period, i.e., 2022 – 2031. EMG, or electromyography is a diagnostic procedure, used for evaluating the health of muscles and the motor neurons, nerve cells that control them. The growth of the market can be attributed to the increasing prevalence of neuromuscular abnormalities, such as, multiple sclerosis, rheumatoid arthritis, and muscular dystrophy. According to the data by the World Health Organization (WHO), 1.71 billion people have musculoskeletal conditions globally. Further, muscular issues are more common amongst older population, which is why, the growing geriatric population globally, is anticipated to promote the market growth. Moreover, increasing adoption of minimally invasive surgery amongst the medical practitioners, along with improving health care infrastructure are anticipated to boost the market growth. According to the data by the World Bank, 9.845% of the GDP was spent on healthcare in 2019. Additionally, raising awareness regarding early diagnosis and screening is projected to fuel the market growth.
The market is segmented by end-user into hospitals and clinics, ambulatory health clinics, academic and research centers, and others, out of which, the hospitals and clinics segment is anticipated to hold a substantial share in the global EMG biosensors market over the forecast period. This can be attributed to the high patient pool in the hospitals, along with easy availability of hospitals even in remote regions. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global EMG Biosensors Market Regional Synopsis
On the basis of geographical analysis, the global EMG biosensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing investment for enhancement of healthcare facilities. Moreover, the increasing geriatric population in the region is estimated to further expand the market growth. According to the World Bank statistics, in 2020, over 114,192,911 individuals were above the age of 65 years in the South Asia region.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the high healthcare awareness amongst the people in the region, along with rising healthcare expenditure. As per the data by the World Bank, the per capita healthcare expenditure in the North America region amounted to USD 10,317.683 in 2019.
The global EMG biosensors market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global EMG biosensors market includes the following segments:
- Surface Biosensors
- Intramuscular Biosensors
- Signal Intensity Registration
- Pattern Recognition
- Hospitals and Clinics
- Ambulatory Health Clinics
- Academic and Research Centers
- Growing Prevalence of Musculoskeletal Disorders
- Increasing Global Geriatric Population
- High Cost of EMG Biosensors
- Low Availability in Developing Regions
Top Featured Companies Dominating the Market
- PLUX wireless biosignals S.A.
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- OpenBCI Inc.
- Multi Biosensors Inc.
- Innopsys Inc.
- Biometrics Ltd.
- Butler Technologies, Inc.
- mDurance Solutions SL.
- iMotions A/S
- Delsys Incorporated
- Pinnacle Technology