Global EMG Biosensors Market to Grow by a Robust CAGR of ~6% during 2022-2030; Increasing Global Geriatric Population to Drive the Market Growth
June 23, 2022
Key Companies Covered in the Global EMG Biosensors Market Research Report by Research Nester are PLUX wireless biosignals S.A., OpenBCI Inc., Multi Biosensors Inc., Innopsys Inc., Biometrics Ltd., Butler Technologies, Inc., mDurance Solutions SL., iMotions A/S, Delsys Incorporated, and Pinnacle Technology. The profiling enfolds growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.
/EIN News/ -- New York, June 23, 2022 (GLOBE NEWSWIRE) -- Neuromuscular disorder is common in older people over the age of 60 years. According to the United Nations, in 2018, the number of persons aged 65 or older exceeded the number of children under the age of five globally. It is projected that by 2050, the persons aged 80 years or above will increase to 426 million from 143 million in 2019.
Research Nester has published a detailed market report on ‘Global EMG Biosensors Market’ for the forecast period, i.e., 2022-2031 which includes the ongoing industry innovations and recent trends being adopted by the major industry players to achieve their business targets. Apart from that, the inclusive data on market size, growth rate, market revenue share, growth opportunities and challenges for the market players along with worldwide analysis on five major regions, namely, North America, Latin America, Europe, Asia Pacific and Middle East & Africa has been provided in the report.
The global EMG biosensors market is estimated to garner a notable revenue by growing at a CAGR of ~6% over the forecast period, i.e., 2022-2031.
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According to the World Health Organization (WHO), globally, 1 out of 6 people will be aged 60 years or above by the year 2030. The market is expected to grow on the back of increasing geriatric population, along with higher prevalence of neuromuscular disorders, such as, multiple sclerosis, peripheral neuropathy, amyotrophic lateral sclerosis (ALS), muscular dystrophy, and others. According to National Center for Biotechnological Information (NCBI), the estimated number of people with multiple sclerosis globally has increased to 2.8 million in 2020, which is approximately 30% higher than the people with multiple sclerosis, in 2013. Moreover, old aged people are more likely to develop a neuromuscular disorder. So, the rise in the growth rate of elderly population globally, is anticipated to boost the market growth during the forecast period. According to the World Health Organization (WHO), globally, share of the geriatric population, aged 60 or above, will be increased from 1 billion in 2020 to approximately 1.4 billion in 2030. Furthermore, the increased demand for EMG devices globally in the field of physiotherapy, gait laboratories, dentistry, biomechanics, and physical education, is also expected to boost the global EMG biosensors market growth in the forecast period.
Regionally, the global EMG biosensors market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in the North America region is anticipated to garner the largest market share in the market across the forecast period on the back of increasing awareness of people towards their health in the region, and the rising healthcare expenditure. According to the American Medical Association, health spending in the U.S. has accelerated by approximately 9.7% in 2020. In 2020, Health spending was valued about 19.7% of GDP, whereas the health spending in 2019 was observed to be 17.6% of GDP.
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Further, the market in the Asia Pacific region is anticipated to witness a notable growth during the forecast period owing to the huge investments in healthcare sector across the emerging countries in the Asia pacific region. Moreover, the rapid growth in elderly population in the region is also expected to drive the market growth. According to the Population Reference Bureau (PRB), China has the largest population in the world, 12% of total population in China is of 65 years old or above. Moreover, India is home to the second largest geriatric population in the world. Furthermore, the rising interest of foreign investors in healthcare sector in the developing countries is also projected to drive the market growth in the Asia Pacific region across the forecast period.
The study further incorporates Y-O-Y growth, demand & supply and forecast future opportunity in North America (U.S., Canada), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark], Poland, Turkey, Russia, Rest of Europe), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Middle East and Africa (Israel, GCC [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman], North Africa, South Africa, Rest of Middle East and Africa).
The global EMG biosensors market is segmented on the basis of end-user into hospitals & clinics, ambulatory health clinics, academic & research centers, and others, out of which, the hospitals & clinics segment is projected to hold a significant share during the forecast period. This can be attributed to the growing number of patients in the hospitals, and as increasing healthcare expenditure in the countries all over the world. According to the Organization for Economic Co-operation and Development (OECD), preliminary evaluations for a group of 16 countries have shown that health spending has increased on average to approximately 10% of GDP in 2020, and spending on health per capita has grown to around 5%. Moreover, advancement in medical technologies, and increasing awareness about early diagnosis for the disease prevention, are some of the factors to increase the demand for EMG biosensors in the hospital across the world. Such factors are projected to propel the hospitals & clinics segment market growth in the future.
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Moreover, on the basis of type, the market is segmented into surface biosensor, and intramuscular biosensor, out of which, surface biosensor segment is expected to attain the largest share among all other sub-segments in the global market during the forecast period on the back of the increasing demand for surface biosensors to analyze the patients’ muscle activity and status of musculoskeletal disorder. According to the World Health Organization (WHO), nearly 2 billion people are living with musculoskeletal conditions globally. Moreover, the number of people with musculoskeletal disorder is quickly increasing as the elderly population worldwide is rapidly growing. Moreover, the advantages provided by surface biosensor, such as, non-invasive nature, convenience, and no risk of causing potential muscle injuries to tissue. Hence, the rapid rise in the number of musculoskeletal disorder cases worldwide is expected to boost the market growth.
The global EMG biosensors market is also segmented on the basis of technology.
Global EMG Biosensors Market; Segmentation by Technology
- Signal Intensity Registration
- Pattern Recognition
Some of the prominent players and their company profiling mentioned in the report include are PLUX wireless biosignals S.A., OpenBCI Inc., Multi Biosensors Inc., Innopsys Inc., Biometrics Ltd., Butler Technologies, Inc., mDurance Solutions SL., iMotions A/S, Delsys Incorporated, and Pinnacle Technology. The profiling enfolds growth opportunities, challenges, market trends, competitive analysis and positioning, along with the strategies used by them to stay ahead of their competitors.
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