Magnetoencephalography Market Size & Outlook, 2025-2033

Magnetoencephalography Market Size

The global magnetoencephalography market size was valued at USD 312.54 million in 2024 and is projected 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).

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, which in turn create 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.

MEG is commonly used in research to understand brain functions like sensory processing, cognition, and motor control, as well as in clinical settings for conditions such as epilepsy, brain tumors, and neurodegenerative diseases. It is a powerful tool because it can track fast brain activity with high temporal and spatial accuracy, providing detailed information that helps guide diagnosis and treatment planning.

Magnetoencephalography Market Trends

Advancement in Portable Meg Devices

The global magnetoencephalography (MEG) market is seeing a significant trend toward advancements in portable MEG devices. A groundbreaking advancement in portable MEG devices has been achieved by researchers supported by the National Natural Science Foundation of China and Changping Laboratory.

• In a study published in October 2024, they introduced a wireless optically pumped magnetometer (OPM)-MEG system, significantly enhancing the portability and practicality of MEG for brain mapping. By reducing magnetization in electronics and developing a tailored wireless communication protocol, the researchers eliminated electromagnetic interference in critical frequency bands of MEG signals.

This innovation enables precise single-channel wireless OPM-MEG measurements, successfully replicating well-established experiments such as the alpha rhythm, auditory evoked field, and steady-state visual evoked field in the human brain. This system opens up new possibilities for both neuroscience and clinical research, making MEG more accessible and versatile.

To get more insights about this report Download Free Sample Report

Magnetoencephalography Market Growth Drivers

Rising Prevalence of Neurological Disorders

The global magnetoencephalography (MEG) market is being driven by the rising prevalence of neurological disorders, which is increasing the demand for accurate diagnostic tools. As the global population ages, conditions like Alzheimer's, Parkinson's, and epilepsy are becoming more common.

• According to the Harvard Neurodiscovery Center, by 2030, one in every five Americans will be over the age of 65. If left untreated, over 12 million Americans are projected to suffer from neurodegenerative disorders over the next 30 years.

This demographic shift is intensifying the need for advanced technologies like MEG for early diagnosis and treatment planning. MEG's ability to detect brain activity in real-time offers an invaluable tool for clinicians to track and manage neurological conditions, ultimately improving patient outcomes.

Market Restraints

Operational and Maintenance Costs

One of the key restraints in the global magnetoencephalography (MEG) market is the high operational and maintenance costs associated with these advanced systems. MEG devices require specialized equipment, such as superconducting magnets and sensitive sensors, which are expensive to acquire and maintain. The need for regular calibration and the technical expertise required for operation and troubleshooting further add to the costs.

• For instance, MEG systems demand a controlled environment to minimize magnetic interference, which means additional investment in infrastructure, including shielded rooms. These factors make MEG systems a significant financial burden, particularly for smaller hospitals and clinics, limiting their widespread adoption. As a result, the high costs act as a barrier to the broader implementation of MEG technology in clinical settings.

Market Opportunities

Technological Innovations and Increased Research and Development Activities

Technological innovations and increased research and development activities are creating significant opportunities in the global magnetoencephalography (MEG) market. The continuous advancement of MEG systems is expanding its potential applications across neuroscience and clinical research.

• For instance, in June 2024, researchers from the University of Nottingham's School of Physics and Astronomy utilized a cutting-edge MEG scanner to observe brain activity in children as young as two years old. This groundbreaking technology opens new possibilities for tracking early brain development and assessing crucial developmental milestones.

Such advancements not only enhance the capabilities of MEG in clinical settings but also contribute to the growing body of research aimed at understanding cognitive processes and neurological disorders, further driving market growth.

Regional Insights

North America holds a leading position in the global magnetoencephalography market, driven by the robust healthcare infrastructure, increasing research activities, and growing demand for advanced neuroimaging techniques. The U.S. is a key contributor, with major universities, hospitals, and research institutions like the Mayo Clinic and Harvard Medical School actively adopting MEG systems for neurological research and clinical applications.

Moreover, North America benefits from a high number of FDA-approved MEG systems, such as the Elekta Neuromag system, enabling more accurate diagnostics for neurological disorders like epilepsy and brain tumors. With continued investments in medical technologies and neuroscience research, North America is expected to maintain its dominance.

• United States: The U.S. leads the global magnetoencephalography industry due to its robust healthcare infrastructure, advanced research facilities, and high demand for non-invasive brain mapping techniques. The development of MEG systems by companies like CTF MEG and Elekta contributes to the country's dominance. Moreover, increased funding for neuroscience research and applications in neurology and psychiatry, such as the use of MEG for epilepsy diagnosis, supports market growth.

Asia-Pacific Magnetoencephalography Market Trends

Asia-Pacific is witnessing significant growth, fueled by increasing healthcare investments, growing awareness, and advancements in neurodiagnostic technologies. Countries like Japan and China are leading the charge, with major hospitals like the National Center for Neurology and Psychiatry in Japan adopting MEG systems for clinical and research purposes. China's rapidly expanding healthcare sector is also seeing a rise in MEG installations, offering promising growth prospects. As the region continues to invest in cutting-edge medical equipment, Asia-Pacific's MEG industry is set for substantial expansion in the coming years.

• China: China's MEG market is expanding rapidly due to the country's emphasis on improving healthcare and advancing medical technology. Investments in neurology and mental health services, including government-backed research initiatives, have led to the adoption of MEG systems in academic institutions and hospitals. The rise of healthcare spending, along with a growing population seeking better medical services, contributes to China’s rising MEG market share.
• Japan: Japan's MEG market is expanding with the adoption of cutting-edge technologies in neurology, psychiatry, and cognitive neuroscience. The country is home to several research institutions that use MEG for brain research, particularly in areas like Alzheimer's disease and brain tumors. Japan’s healthcare sector supports the use of advanced diagnostic tools, and the country's growing elderly population increases the demand for non-invasive brain mapping technologies.
• India: India is witnessing a rise in the MEG industry, driven by increasing research in neurological disorders and improving healthcare infrastructure. With advancements in medical technology and a growing focus on mental health, hospitals and research centers are adopting MEG systems for clinical diagnostics and brain research. Government initiatives, such as the National Health Mission, are further fueling demand for advanced diagnostic tools in the country.
• South Korea: South Korea's MEG market is growing rapidly due to strong government support for medical technology innovation and the presence of top universities and research centers. The country has integrated MEG into its healthcare systems for applications in brain function analysis, particularly in neurodegenerative diseases. The rise of South Korea's medical tourism industry also encourages the adoption of advanced brain diagnostic tools, benefiting the market.

Europe Magnetoencephalography Market Trends

• Germany: Germany is a key player in the market for MEG, primarily due to its advanced medical equipment manufacturing sector and strong research focus in neuroscience. The country's emphasis on healthcare innovation and its support for academic institutions, such as the Max Planck Institute, drives MEG system integration into clinical research. Moreover, Germany’s healthcare policies promote early diagnosis and treatment, further boosting MEG system adoption.
• South Africa: South Africa's MEG industry is slowly expanding, driven by increasing awareness of neurological disorders and the adoption of advanced diagnostic tools in medical centers. South African research institutions are incorporating MEG into their studies of brain functions, particularly in neurodegenerative diseases and mental health disorders. As the country's healthcare system improves, the demand for non-invasive, high-resolution diagnostic techniques like MEG is expected to rise.

Technology Insights

Superconducting Magnetoencephalography (sMEG) remains the dominant technology in the market due to its high sensitivity and ability to capture detailed brain activity across large areas. sMEG utilizes superconducting materials to detect minute magnetic fields generated by neural activity. This technology is widely used in both clinical and research applications, particularly for brain mapping during neurosurgical procedures and for understanding neurological disorders. Its precision makes it the preferred choice for neuroscientists studying cognitive functions, sensory processing, and brain disorders such as epilepsy, driving continued market growth.

Applications Insights

The clinical application segment is the dominant category in the market, with a major focus on diagnosing and treating neurological disorders. Conditions such as epilepsy, stroke, and dementia are leading the demand for MEG in clinical settings, where it helps in non-invasive brain mapping for pre-surgical planning and treatment monitoring. MEG’s ability to provide real-time brain activity data makes it invaluable for physicians in diagnosing complex conditions, enhancing its adoption in hospitals and clinics globally. The clinical segment’s growth is fueled by the increasing prevalence of neurological disorders and advancements in diagnostic technology.

End-User Insights

Hospitals and clinics dominate the market end-user segment, driven by the increasing demand for advanced diagnostic tools in neurology and psychiatry. MEG technology provides crucial insights into brain activity, aiding in the accurate diagnosis of neurological conditions such as epilepsy, stroke, and dementia. The ability to deliver real-time, non-invasive results makes MEG indispensable in clinical settings, particularly in pre-surgical brain mapping. As hospitals continue to upgrade their diagnostic capabilities, the market for MEG in these institutions is expected to expand, facilitating the early detection and treatment of neurological diseases.

Company Market Share

In the global market, companies are focusing on advancing technology, enhancing system affordability, and expanding applications in both research and clinical settings. Leading companies are investing heavily in the development of high-performance MEG systems that offer greater sensitivity, accuracy, and portability, addressing the growing demand for non-invasive brain mapping tools.

York Instruments Ltd.: Emerging Market Player in the Global Magnetoencephalography Market

York Instruments Ltd. is an emerging player in the global MEG market, gaining recognition for its innovative solutions in brain mapping. Based in the UK, the company focuses on providing cost-effective, high-quality MEG systems for both research and clinical applications. Their unique approach includes developing compact, user-friendly MEG devices that offer high sensitivity and accuracy, which makes them suitable for both academic institutions and hospitals.

List of key players in Magnetoencephalography Market

1. Elekta AB
2. Neuromag (Nihon Kohden Corporation)
3. MEGIN (a part of the Advanced Brain Monitoring group)
4. York Instruments Ltd.
5. Omega Medical Imaging
6. Sensics, Inc.
7. Trensient Technologies
8. NDI (Northern Digital Inc.)
9. Brain Products GmbH
10. The Magnetoencephalography Lab (MIT)
11. Invivo Corporation
12. Compumedics Limited
13. CTF Systems (a part of the Hitachi Group)
14. GE Healthcare
15. Siemens Healthineers

To get more findings about this report Download Market Share

Recent Developments

• 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.

Analyst Opinion

As per our analyst, the global market is poised for significant growth due to the increasing demand for advanced brain diagnostic tools, particularly in the fields of neurology and neuroscience. The ongoing advancements in MEG technology, such as enhanced system sensitivity and the integration of AI-driven data analysis, are expected to drive the adoption of these systems across both clinical and research sectors.

The growing prevalence of neurological disorders, including epilepsy, Alzheimer’s disease, and neurodegenerative conditions, is creating a substantial need for non-invasive and precise diagnostic technologies like MEG. Moreover, the increasing focus on mental health and cognitive neuroscience is further expanding the market potential.

As countries across the Asia-Pacific and Latin American regions continue to improve healthcare infrastructure, the demand for affordable, compact MEG systems will increase, allowing more widespread access to these advanced tools.