Magnetoencephalography Market Size, Share & Forecast To 2033

(MENAFN- Straits Research) Introduction

Magnetoencephalography (MEG) is a non-invasive brain imaging technique used to measure the magnetic fields produced by neuronal activity in the brain. When neurons in the brain communicate, they generate tiny electrical currents, creating magnetic fields. MEG detects these magnetic fields, providing high-resolution insights into the brain's electrical activity. Unlike other brain imaging methods such as EEG (electroencephalography) or MRI (magnetic resonance imaging), MEG offers better spatial resolution, enabling precise localization of brain activity in real-time. This makes it especially valuable for studying brain function, diagnosing neurological disorders, and guiding brain surgery.

Rising prevalence of neurological disorders drives the global market

With an aging global population, conditions such as Alzheimer's, Parkinson's, and epilepsy are becoming increasingly widespread. As per the Harvard Neurodiscovery Center, by 2030, 1 in 5 Americans will be over 65 years old. Without timely intervention, over 12 million Americans are projected to be affected by neurodegenerative disorders within the next three decades.

This demographic trend underscores the urgent need for advanced technologies like MEG, which enables real-time brain activity monitoring. By facilitating early diagnosis and aiding in treatment planning, MEG provides clinicians with a powerful tool to better manage neurological conditions and improve patient outcomes.

Technological innovations and increased research and development activities create tremendous opportunities

Technological advancements and intensified research and development efforts are unlocking substantial opportunities. The continuous evolution of MEG systems is broadening their applications in both neuroscience and clinical research. For example, in June 2024, researchers from the University of Nottingham's School of Physics and Astronomy used an advanced MEG scanner to study brain activity in children as young as two years old.

This innovative breakthrough paves the way for monitoring early brain development and evaluating critical developmental milestones. These cutting-edge advancements not only enhance the effectiveness of MEG in clinical applications but also drive progress in understanding cognitive functions and neurological disorders, fueling further growth in the MEG market.

North America stands as a leader in the global magnetoencephalography (MEG) market, driven by its advanced healthcare infrastructure, thriving research initiatives, and rising demand for cutting-edge neuroimaging solutions. The United States plays a pivotal role, with renowned institutions like the Mayo Clinic and Harvard Medical School embracing MEG technology for both clinical and research purposes.

The region also boasts a significant number of FDA-approved MEG systems, such as the Elekta Neuromag, which provide precise diagnostics for neurological conditions like epilepsy and brain tumors. Ongoing investments in medical technology and neuroscience research further strengthen North America's position, ensuring its continued dominance.

Key Highlights

• The global magnetoencephalography market size was valued at USD 312.54 million in 2024 and is estimated to grow from USD 327.82 million in 2025 to reach USD 480.29 million by 2033, growing at a CAGR of 4.89% during the forecast period (2025–2033).
• By Technology, the global market is segmented into Superconducting Magnetoencephalography (sMEG) and Optically Pumped Magnetometers (OPM). The sMEG segment dominates the global market.
• By Applications, the global magnetoencephalography market is segmented into Clinical and Research. The clinical application segment owns the highest market share.
• By End-User, the global market is segmented into Hospitals and Clinics, Research Institutes, and Academic Institutions. The hospitals and clinics segment dominates the global market.
• North America is the highest shareholder in the global market.

The key players in the global market are Elekta AB, Neuromag (Nihon Kohden Corporation), MEGIN (a part of the Advanced Brain Monitoring group), York Instruments Ltd., Omega Medical Imaging, Sensics, Inc., Brain Products GmbH, The Magnetoencephalography Lab (MIT), Invivo Corporation, Compumedics Limited, CTF Systems (a part of the Hitachi Group), GE Healthcare, Siemens Healthineers, and others.

• In November 2024, The University of Alabama at Birmingham (UAB) upgraded its magnetoencephalography (MEG) technology to enhance research and clinical care for epilepsy and other brain diseases. The new MEG system offers superior capabilities, such as greater brain activity coverage and more precise localization, which are crucial for epilepsy surgeries and functional brain mapping.