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Meg Magnetoencephalography Market
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Meg Magnetoencephalography Market

Author: Debadatta Patel - Senior Consultant, Report ID - DS1801068, Published - January 2025

Segmented in Technology Type (Whole-head MEG systems, Single-Channel MEG systems), Application Scope (Brain Mapping, Epilepsy, Stroke, Autism), End User, Distribution Channel and Regions - Global Industry Analysis, Size, Share, Trends, and Forecast 2024 – 2034

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Global Meg Magnetoencephalography
Market Outlook

Neuro imaging technology is undergoing an evolution where Magnetoencephalography or MEG takes the spotlight as a cutting edge method for mapping brain activity in real time with precision accuracy and detail that uncovers crucial neural interactions happening in the human brain constantly at a microscopic level. The market, for Meg magnetoencephalography was estimated at $376.2 million in 2024. It is anticipated to increase to $577.4 million by 2030 with projections indicating a growth to around $825.0 million by 2035. This expansion represents a compound annual growth rate (CAGR) of 7.4% over the forecast period. This advancement in technology is poised to revolutionize our comprehension of the system and lead the way in groundbreaking discoveries in neurology and psychiatry while also offering possibilities, for transforming treatments and diagnostic techniques.


MEG Magnetoencephalography is becoming increasingly popular in fields like neuromarketing and neuroscience research due to its non invasive nature and its ability to offer detailed insights, into brain functionality.


Market Size Forecast & Key Insights

2019
$376M2024
2029
$768M2034

Absolute Growth Opportunity = $392M

The Meg Magnetoencephalography market is projected to grow from $376.2 million in 2024 to $768 million in 2034. This represents a CAGR of 7.4%, reflecting rising demand across Functional Brain Mapping, Assisting in the Diagnosis and Research of Neurological Disorders and Pre-surgical Planning.

The Meg Magnetoencephalography market is set to add $392 million between 2024 and 2034, with manufacturer targeting Epilepsy & Stroke Application Scope projected to gain a larger market share.

With Advanced medical imaging capabilities, and Rising prevalence of neurological disorders, Meg Magnetoencephalography market to expand 104% between 2024 and 2034.

Opportunities in the Meg Magnetoencephalography Market

Advancements in ML Capabilities

With the rise in ML and AI technologies, the magnetoencephalography field has the potential to exponentially grow. ML algorithms can enhance the interpretation of MEG data, making diagnosis faster and more efficient, impacting the market positively

Expanding Clinical Applications and Increasing Demand in Developing Regions

The market for Magnetoencephalography is likely to experience expansion by diversifying its clinical uses beyond the usual realm of neurology. Given MEGs capacity to identify the magnetic fields in the brain accurately​; it can be harnessed in various medical fields including psychiatry for identifying illnesses such as depression and schizophrenia and neurodevelopmental conditions, like autism.

In emerging areas there is a growing need for diagnostic equipment such as MEG due to the uptick in neurological conditions observed in these regions there has been an increased focus towards improving healthcare standards and enhancing neuro diagnostic capabilities creating significant market potential, in these regions.

Growth Opportunities in North America and Europe

Europe Outlook

Europe represents the largest market for MEG Magnetoencephalography due to factors such as a growing elderly population facing neurodegenerative conditions and robust governmental backing for healthcare studies is fuel this markets growth trajectory significantly The competition in this sector is intense with industry players prioritizing innovations in MEG technology The potential, for progression can be found in integrating AI and ML tools into MEG systems to elevate their diagnostic functionalities.

North America Outlook

In North America the MEG Magnetoencephalography market is led by factors such as an incidence of neurological disorders and access to advanced healthcare services making it a hub, for medical research investment. The regions notable MEG equipment manufacturers further fuel market expansion. However intense competition prompts these manufacturers to constantly innovate to uphold their market share. Potential lies in enhancing the precision and effectiveness of devices.

North America Outlook

In North America the MEG Magnetoencephalography market is led by factors such as an incidence of neurological disorders and access to advanced healthcare services making it a hub, for medical research investment. The regions notable MEG equipment manufacturers further fuel market expansion. However intense competition prompts these manufacturers to constantly innovate to uphold their market share. Potential lies in enhancing the precision and effectiveness of devices.

Europe Outlook

Europe represents the largest market for MEG Magnetoencephalography due to factors such as a growing elderly population facing neurodegenerative conditions and robust governmental backing for healthcare studies is fuel this markets growth trajectory significantly The competition in this sector is intense with industry players prioritizing innovations in MEG technology The potential, for progression can be found in integrating AI and ML tools into MEG systems to elevate their diagnostic functionalities.

Growth Opportunities in North America and Europe

Established and Emerging Market's Growth Trend 2025–2034

1

Major Markets : United States, Germany, Japan, China, United Kingdom are expected to grow at 4.8% to 7.1% CAGR

2

Emerging Markets : Brazil, India, South Africa are expected to grow at 8.5% to 10.2% CAGR

Market Analysis Chart

The MEG Magnetoencephalography market is impacted by a range of factors that mold its state and future directionality with technological advancements and increased awareness about neurological conditions driving growth and the demand for early and accurate diagnosis rising steadily in importance. The utilization of MEG systems in areas, like neuroscience services or pre surgical mapping and epilepsy surgery is growing rapidly.

Recent Developments and Technological Advancement

December 2024

Eleckta AB has introduced a state of the art MEG system designed for research institutions to enhance neurological clinical decision making.

October 2024

MEGTECH introduced COHTREY. A cutting edge MEG magnetoencephalography system tailored to meet the increasing need, for neurological diagnostics.

August 2024

Medtronic plc acquired York Instruments to broaden their range of MEG Magnetoencephalography devices and strengthen their market reach.

In the years MEG Magnetoencephalography sector has seen notable progress driven mainly by technological improvements and increased healthcare awareness There has been a growth in neurological conditions leading to a higher demand for MEG systems A significant market trend is the rising focus on developing innovative MEG technologies which marks a new phase, in neurological imaging

Impact of Industry Transitions on the Meg Magnetoencephalography Market

As a core segment of the Medical Device industry, the Meg Magnetoencephalography market develops in line with broader industry shifts. Over recent years, transitions such as Advancements in Software Algorithms and Emergence of Portable MEG Devices have redefined priorities across the Medical Device sector, influencing how the Meg Magnetoencephalography market evolves in terms of demand, applications and competitive dynamics. These transitions highlight the structural changes shaping long-term growth opportunities.

1

Advancements in Software Algorithms:

The market for MEG has seen an impact from notable progress in software algorithms that have resulted in improved accuracy and precision in detecting neurological disorders efficiently. These enhancements in algorithms aim to minimize noise and interference from artifacts significantly enabling healthcare professionals to analyze and interpret data with precision. The transition towards using software algorithms is expected to drive expansion, within the industry.

2

Emergence of Portable MEG Devices:

Portable MEG devices are becoming increasingly popular in the field of MEG Magnetoencephalography technology. Unlike the stationary MEG systems these portable devices provide unmatched convenience affordability and accessibility, for patients.

Global Events Shaping Future Growth

The chart below highlights how external events including emerging market developments, regulatory changes, and technological disruptions, have added another layer of complexity to the Medical Device industry. These events have disrupted supply networks, changed consumption behavior, and reshaped growth patterns. Together with structural industry transitions, they demonstrate how changes within the Medical Device industry cascade into the Meg Magnetoencephalography market, setting the stage for its future growth trajectory.

Market Dynamics and Supply Chain

Driver: Advanced Medical Imaging Capabilities, and Technological Innovations in MEG Systems

MEG Magnetoencephalographys capability to provide cutting edge imaging is also a key factor fueling market expansion. s Its exceptional temporal resolution and substantial spatial resolution are also well regarded attributes that make it a valuable asset, in diagnosing and treating various neurological conditions.
The ongoing progress and innovation in MEG technologies like the introduction of updated software for data analysis and the enhancement of effective systems with improved signal, to noise ratio are also projected to drive the expansion of the MEG magnetoencephalography market further.
The increasing prevalence of conditions on a global scale like Alzheimers disease and Parkinsons disease has also led to a rise in the need for MEG systems in clinical settings, for diagnosing these illnesses effectively and thereby boosting its market expansion.

Restraint: High Cost of MEG Devices

The expensive nature of Magnetoencephalography systems poses a challenge to the expansion of the market sector. These systems are intricately. Challenging to produce which results in their high costs. As a result of this pricing structure accessibility to these devices is limited in less economically developed areas with constraints, in healthcare funding.

Challenge: Limited Specialists and Technicians

One of the obstacles facing the MEG market is the scarcity of healthcare professionals and technicians, with specialized training needed to operate and interpret these devices efficiently. The expert handling and interpretation required for MEG systems are factors influencing their adoption rate and ultimately impacting market growth positively or negatively.

Supply Chain Landscape

Raw Material Suppliers

ArcelorMittal

BHP Group

Rio Tinto Group

Component Manufacturers

Siemens Healthineers

Hitachi High-Technologies Corporation

Elekta

Assembler or Producer
York Instruments / MEGIN / Elekta
End User or Application Industries
Medical and Healthcare Industry / Research Institutes / Hospitals
Raw Material Suppliers

ArcelorMittal

BHP Group

Rio Tinto Group

Component Manufacturers

Siemens Healthineers

Hitachi High-Technologies Corporation

Elekta

Assembler or Producer

York Instruments

MEGIN

Elekta

End User or Application Industries

Medical and Healthcare Industry

Research Institutes

Hospitals

Banner LogoBanner Logo

Leading Providers and Their Strategies

Application AreaIndustryLeading ProvidersProvider Strategies
Epilepsy Treatment
Healthcare and Clinical Research
Elekta Oyj
Merging traditional methods with high-tech ways to capture and analyze brain activity data
Pre-Surgical Mapping
Healthcare and Clinical Research
MEGIN
Investing in advanced technology to provide precise imaging, enabling surgeons to understand patient's conditions in detail
Functional Brain Mapping
Academic Research and Neuroscience
York Instruments
Focusing on developing highly sensitive devices, allowing researchers to gather detailed data about brain functionality
Neurofeedback Therapy
Mental Health and Wellness
Mind Media
Improving mental health by offering real-time data about brainwaves, enabling patients and therapists to monitor the effectiveness of treatments more accurately

Elevate your strategic vision with in-depth analysis of key applications, leading market players, and their strategies. The report analyzes industry leaders' views and statements on the Meg Magnetoencephalography market's present and future growth.

Our research is created following strict editorial standards. See our Editorial Policy

Applications of Meg Magnetoencephalography in Functional Brain Mapping, Assisting in the Diagnosis and Research of Neurological Disorders and Pre-surgical Planning

Functional Brain Mapping

MEG is widely employed for mapping brain functions by pinpoint brain region's linked to various functions due to its non invasive nature and real time brain activity capture capabilities which distinguish it as a valuable tool in understanding brain functionality effectively. Key players in the market such, as Elekta and MEGIN have crafted MEG systems with exceptional temporal resolution.

Assisting in the Diagnosis and Research of Neurological Disorders

MEG is essential for diagnosing and studying neurological conditions such as epilepsy and autism while also helping with stroke and Alzheimers research by offering detailed insights into the development of these diseases due to its high temporal resolution technology. Companies, like Eleka and MEGIN are well known for offering MEG systems that play a crucial role in this field.

Pre-surgical Planning

MEG is also crucial for surgery assessments as it helps pinpoint the precise site of abnormal brain activity and offers neurosurgeons a clear guide for operations that reduce risks and improve results – especially during epilepsy surgery or when removing tumors close, to vital brain regions. York Instruments and other companies are working on MEG systems to assist in this important process.

Meg Magnetoencephalography vs. Substitutes:
Performance and Positioning Analysis

MEG technology offers better time precision compared to EEG and fMRI. Comes with a higher price tag attached to it. Its distinctive advantage lies in its ability to map the brain non invasively which hints at avenues for growth, in the market.

Meg Magnetoencephalography
  • Functional Magnetic Resonance Imaging /
  • Electroencephalography
    High temporal resolution, ability to detect neuronal activity directly
    High cost, sensitivity to external magnetic fields
    High spatial resolution, ability to measure electrical activity directly in EEG (Electroencephalography)
    Limited temporal resolution, low

Meg Magnetoencephalography vs. Substitutes:
Performance and Positioning Analysis

Meg Magnetoencephalography

  • High temporal resolution, ability to detect neuronal activity directly
  • High cost, sensitivity to external magnetic fields

Functional Magnetic Resonance Imaging / Electroencephalography / Positron Emission Tomography

  • High spatial resolution, ability to measure electrical activity directly in EEG (Electroencephalography)
  • Limited temporal resolution, low

MEG technology offers better time precision compared to EEG and fMRI. Comes with a higher price tag attached to it. Its distinctive advantage lies in its ability to map the brain non invasively which hints at avenues for growth, in the market.

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Research Methodology

This market research methodology defines the Meg Magnetoencephalography market scope, gathers reliable data, and validates findings using integrated primary and secondary research. Our systematic framework ensures precise market sizing, growth trend analysis, and competitive benchmarking.


Secondary Research Approach


We begin secondary research by defining the targeted market at Country and Regional levels. As part of the Medical Device ecosystem, we analyze Meg Magnetoencephalography across Hospitals and Diagnostic Centers Applications. Our team gathers data systematically from country level ministerial sources, industry associations & federations, trade databases, company annual & quarterly reports and other credential sources, enabling us to map global and regional market size, pricing trends, regulatory standards, and technology advancements.


Key Sources Referenced:


We benchmark competitors such as Elekta AB, Ricoh Company Ltd., and Nihon Kohden Corporation by reviewing company financial statements, and regulatory filings. Our secondary insights identify key market drivers and constraints, forming the analytical foundation for primary research.


Primary Research Methods


We conduct structured interviews and surveys with industry stakeholders, including Raw Material Suppliers, Component Manufacturers, and Assembler or Producer. Our geographic coverage spans Americas (40%), Europe (30%), Asia-Pacific (25%) and Middle East & Africa (5%). Our online surveys generally achieve a response rate of above 65%, and telephone interviews yield 60%, resulting in above 92% confidence level with a ±7% margin of error.


Through targeted questionnaires and in-depth interviews, we capture purchase intent, adoption barriers, brand perception across Segment Type. We use interview guides to ensure consistency and anonymous survey options to mitigate response bias. These primary insights validate secondary findings and align market sizing with real-world conditions.


Market Engineering & Data Analysis Framework


Our data analysis framework integrates Top-Down, Bottom-Up, and Company Market Share approaches to estimate and project market size with precision.


Top-down & Bottom-Up Process


In Top-down approach, we disaggregate global Medical Device revenues to estimate the Meg Magnetoencephalography segment, using historical growth patterns to set baseline trends. Simultaneously, in Bottom-up approach, we aggregate Country-Level Demand Data to derive regional and global forecasts, which provide granular consumption insights. By reconciling both approaches, we ensure statistical precision and cross-validation accuracy.


We evaluate the supply chain, spanning Raw Material Suppliers (ArcelorMittal, BHP Group), Component Manufacturers (Siemens Healthineers, Hitachi High-Technologies Corporation), and Assembler or Producer. Our parallel substitute analysis examines Functional Magnetic Resonance Imaging, Electroencephalography, and Positron Emission Tomography, highlighting diversification opportunities and competitive risks.


Company Market Share & Benchmarking


We benchmark leading companies such as Elekta AB, Ricoh Company Ltd., and Nihon Kohden Corporation, analyzing their capabilities in pricing, product features, technology adoption, and distribution reach. By assessing company-level revenues and product portfolios, we derive market share comparisons, clarifying competitive positioning and growth trajectories across the ecosystem.


Our integration of data triangulation, supply chain evaluation, and company benchmarking, supported by our proprietary Directional Superposition methodology enables us to deliver precise forecasts and actionable strategic insights into the Meg Magnetoencephalography market.


Quality Assurance and Compliance


We cross-reference secondary data with primary inputs and external expert reviews to confirm consistency. Further, we use stratified sampling, anonymous surveys, third-party interviews, and time-based sampling to reduce bias and strengthen our results.


Our methodology is developed in alignment with ISO 20252 standards and ICC/ESOMAR guidelines for research ethics. The study methodology follows globally recognized frameworks such as ISO 20252 and ICC codes of practice.

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Meg Magnetoencephalography Market Data: Size, Segmentation & Growth Forecast

Report AttributeDetails
Market Value in 2025USD 404 million
Revenue Forecast in 2034USD 768 million
Growth RateCAGR of 7.4% from 2025 to 2034
Base Year for Estimation2024
Industry Revenue 2024376 million
Growth OpportunityUSD 392 million
Historical Data2019 - 2023
Growth Projection / Forecast Period2025 - 2034
Market Size UnitsMarket Revenue in USD million and Industry Statistics
Market Size 2024376 million USD
Market Size 2027466 million USD
Market Size 2029537 million USD
Market Size 2030577 million USD
Market Size 2034768 million USD
Market Size 2035825 million USD
Report CoverageMarket revenue for past 5 years and forecast for future 10 years, Competitive Analysis & Company Market Share, Strategic Insights & trends
Segments CoveredTechnology Type, Application Scope, End User, Distribution Channel
Regional scopeNorth America, Europe, Asia Pacific, Latin America and Middle East & Africa
Country scopeU.S., Canada, Mexico, UK, Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Mexico, Argentina, Saudi Arabia, UAE and South Africa
Companies ProfiledElekta AB, Ricoh Company Ltd., Nihon Kohden Corporation, MEGIN, Tristan Technologies Inc., CTF MEG International Services LP, York Instruments Ltd., eemagine Medical Imaging Solutions GmbH, DeweSoft d.o.o., ATMRI (Advanced Telecommunications Research Institute International), Mag & More GmbH and Cadwell Industries Inc.
CustomizationFree customization at segment, region or country scope and direct contact with report analyst team for 10 to 20 working hours for any additional niche requirement which is almost equivalent to 10% of report value

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Table of Contents

Industry Insights Report - Table Of Contents

Chapter 1

Executive Summary

Major Markets & Their Performance - Statistical Snapshots

Chapter 2

Research Methodology

2.1Axioms & Postulates
2.2Market Introduction & Research MethodologyEstimation & Forecast Parameters / Major Databases & Sources
Chapter 3

Market Dynamics

3.1Market OverviewDrivers / Restraints / Opportunities / M4 Factors
3.2Market Trends
3.2.1Introduction & Narratives
3.2.2Market Trends - Impact Analysis(Short, Medium & Long Term Impacts)
3.3Supply Chain Analysis
3.4Porter's Five ForcesSuppliers & Buyers' Bargaining Power, Threat of Substitution & New Market Entrants, Competitive Rivalry
Chapter 4

Meg Magnetoencephalography Market Size, Opportunities & Strategic Insights, by Technology Type

4.1Whole-head MEG systems
4.2Single-Channel MEG systems
Chapter 5

Meg Magnetoencephalography Market Size, Opportunities & Strategic Insights, by Application Scope

5.1Brain Mapping
5.2Epilepsy
5.3Stroke
5.4Autism
Chapter 6

Meg Magnetoencephalography Market Size, Opportunities & Strategic Insights, by End User

6.1Hospitals
6.2Diagnostic Centers
Chapter 7

Meg Magnetoencephalography Market Size, Opportunities & Strategic Insights, by Distribution Channel

7.1Direct Sales
7.2Distributor Sales
Chapter 8

Meg Magnetoencephalography Market, by Region

8.1North America Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.1.1U.S.
8.1.2Canada
8.2Europe Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.2.1Germany
8.2.2France
8.2.3UK
8.2.4Italy
8.2.5The Netherlands
8.2.6Rest of EU
8.3Asia Pacific Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.3.1China
8.3.2Japan
8.3.3South Korea
8.3.4India
8.3.5Australia
8.3.6Thailand
8.3.7Rest of APAC
8.4Middle East & Africa Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.4.1Saudi Arabia
8.4.2United Arab Emirates
8.4.3South Africa
8.4.4Rest of MEA
8.5Latin America Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.5.1Brazil
8.5.2Mexico
8.5.3Rest of LA
8.6CIS Meg Magnetoencephalography Market Size, Opportunities, Key Trends & Strategic Insights
8.6.1Russia
8.6.2Rest of CIS
Chapter 9

Competitive Landscape

9.1Competitive Dashboard & Market Share Analysis
9.2Company Profiles (Overview, Financials, Developments, SWOT)
9.2.1Elekta AB
9.2.2Ricoh Company Ltd.
9.2.3Nihon Kohden Corporation
9.2.4MEGIN
9.2.5Tristan Technologies Inc.
9.2.6CTF MEG International Services LP
9.2.7York Instruments Ltd.
9.2.8eemagine Medical Imaging Solutions GmbH
9.2.9DeweSoft d.o.o.
9.2.10ATMRI (Advanced Telecommunications Research Institute International)
9.2.11Mag & More GmbH
9.2.12Cadwell Industries Inc.