Magnetoencephalography Market Size & Opportunities Analysis - Growth Strategies, Competitiveness, and Forecasts (2025 - 2032)

Magnetoencephalography Market Growth Factors

Technological Advancements Are Key Trend

• OPM-based MEG systems can be operated at room temperature, and hence, no bulky cryogenic coolers with liquid helium are required.
• These systems are more compact and portable, allowing for wearable designs and mobilization in non-traditional settings, such as nursing facilities and people’s homes.
• The miniaturization of sensors helps move the machine closer to the scalp, enhancing the quality and spatial resolution of signals.
• The combination of artificial intelligence and machine learning enables better data analysis and unearths patterns and abnormalities more effectively.
• MEG data can be remotely accessed via cloud platforms and used to collaborate and offer telemedicine services.
• The newer systems include enhanced background noise cancellation and motion detection systems for more-precise readings.
• Real time monitoring functions offer intraoperative functionality for applications such as neurofeedback and brain–computer interfaces.
• In February 2025, the Indian government allocated INR 20,000 crore to the Research, Development, and Innovation Initiative, including a Deep Tech Fund to support next-gen startups.
• This could indirectly boost innovation in neuroimaging technologies like MEG.
• In February 2023, Cerca Magnetics received a grant of GBP 1.3 million, sponsored by Innovate UK and Young Epilepsy, to develop a wearable OPM-based MEG system that enables children to move freely while getting diagnosed with epilepsy.

Rising Prevalence of Neurological Disorders Is Biggest Growth Driver

• The increasing aging population leads to the rising cases of brain disorders.
• This increasing disease burden is spurring the demand for sophisticated, non-invasive brain imaging systems for early diagnosis and early intervention planning.
• According to the WHO, the population in the age group of 60 and above will reach 1.4 billion by 2030 1.1 in 2023.
• The UN similarly forecasts the number people aged 65 and more to cross 2.2 billion by 2070.
• Lifestyle factors, such as stress, lack of sleep, and poor diet, are linked to several neurological issues.
• As per Alzheimer’s Disease International, compared to 50 million in 2020, 78 million people in 2030 and 139 million in 2050 will have this condition.
• These conditions are now detected much earlier due to the increasing awareness of improved diagnostic tools.
• MEG can be particularly helpful in identifying the localization of abnormal activity in the brain, which important in treating conditions such as epilepsy and dementia.
• As per the World Health Organization, around 50 million people on earth suffer from epilepsy, while 10 million people are diagnosed with dementia each year.
• In December 2023, MEGIN partnered with FIND Neuro to enhance MEG technology and improve its use in diagnosing and treating neurological disorders.
• In May 2025, the MEG-TREC Conference highlighted the need for academia–industry partnerships to validate MEG biomarkers and raising private investment in its clinical use for epilepsy, tumors, dementia, and brain injuries.

Magnetoencephalography Market Segmentation Analysis

Type Analysis

The superconducting quantum interference devices category held the larger market share, of 70%, in 2024, owing to their high spatial resolution, the possibility of examining non-conducting materials, and deeper penetration depths. Moreover, these devices do not require considerable magnetic fields, enable greater scanning distances, and identify weak magnetic fields. Thus, these factors are driving the need for SQUIDs.

Whereas, the demand for optically pumped magnetometers (OPMs) is expected to witness faster growth during the forecast period, owing to their enhanced sensitivity, lower operating cost, and not requiring supercooling. Moreover, these devices also have various other advantages such as higher uniformity of coverage, enhanced spatial resolution, participants can move during scanning, minimized system complexity, and lifespan compliance. Also, it can adapt according to the shape of the head because it is stretchable and the flexibility of its cap ensures the positioning of sensors.

The types analyzed here are:

• Optically Pumped Magnetometers (OPM) (Faster-Growing Category)
• Superconducting Quantum Interference Devices (SQUIDs) (Larger Category)

Application Analysis

The clinical category held the larger market share, of 65%, in 2024. This is ascribed to the rising prevalence of brain problems, such as dementia and epilepsy; and magnetoencephalography provides precise results with an extremely high temporal and spatial resolution, which is required to be superior in clinical settings. Among clinical categories, epilepsy application holds the largest share, due to accurate results and easy identification of locations of seizures of magnetoencephalography. Moreover, it enhances the surgical outcomes of patients suffering from epilepsy and enables the real-time study of the brain.

Furthermore, with the availability of magnetoencephalography, it became feasible to examine the anatomy and functions of the growing brain, which is boosting its demand in research applications. It is also used in understanding the mechanism of neuropsychic disorders and differentiating them from healthy individuals.

The research category will grow at the highest CAGR during the forecast period. This is because of the growth in the field of neuroscience research and advances in technologies, which are making MEG systems affordable for academic and research institutions. The largest factor spurring this development is the recent worldwide interest in learning more about how the brain works. The U.S. BRAIN Initiative and the European Human Brain Project favor non-invasive brain imaging, such as MEG, which offers a high temporal resolution for the investigation of the dynamism of the human brain.

The applications analyzed here are:

• Clinical (Larger Category)
  • Dementia
  • Autism
  • Schizophrenia
  • Multiple Sclerosis
  • Stroke
  • Epilepsy
• Research (Faster-Growing Category)

End User Analysis

The hospitals category held the larger market share, of 45%, in 2024, owing to the rising adoption of technologically advanced sensors in hospitals, the presence of a large number of patients, and the increasing number of procedures performed in these healthcare facilities. Additionally, the existence of a large number of hospitals, well-established infrastructure, and the rise in the adoption of non-invasive procedures are boosting the requirement for magnetoencephalography in hospitals.

In addition, the imaging centers category is expected to show significant growth in the coming years. This can be attributed to the lower wait times and low scan costs in imaging centers, the growing reimbursement structure, and the involvement of diagnostic accreditation boards.

The academic and research institutes category will grow at the highest CAGR during the forecast period. An increased number of research studies are being conducted on neurosciences around the world, many of which revolve around brain connectivity, cognitive, and psychosis research. The non-invasiveness and high temporal resolution of MEG attract more research organizations to use it to investigate the real-time functioning of the brain. Such institutions get financial support from governments and international partnerships to procure and maintain complex neuromonitoring instruments.

The end users analyzed here are:

• Hospitals (Largest Category)
• Imaging Centers
• Academic and Research Institutes (Fastest-Growing Category)

Magnetoencephalography Market Geographical Analysis

North America held the largest market share, of 40%, in 2024 and it will grow at the highest CAGR, of 6% during the forecast period. This is attributed to the high adoption of new and advanced technologies and high disposable income in the region. In addition, the next-generation sequencing technology offers quicker and more accurate results, due to which it is used widely in the U.S. and Canada.

According to government websites, there are more than 1,000 neurodegenerative and neurological disorders exist, which are affecting the lives of approximately 100 million Americans. The Americans are spending almost 800 billion every year on their treatment. Thus, the current existence of various problems related to the brain and high spending on such issues are contributing to revenue generation in the regional market.

Moreover, it is predicted that the regional governments have initiated focusing on the reimbursement policy for magnetoencephalography, which leads individuals to adopt such testing methods widely. In addition, because of new technological advancements, doctors and consumers are shifting from invasive methods to non-invasive testing methods.

The regions and countries analyzed in this report are:

• North America (Largest and Fastest-Growing Region)
  • U.S. (Largest and Fastest-Growing Country)
  • Canada
• Europe
  • Germany (Largest Country)
  • U.K.
  • France
  • Italy
  • Russia (Fastest-Growing Country)
  • Rest of Europe
• Asia-Pacific
  • China (Largest Country)
  • India (Fastest-Growing Country)
  • Japan
  • South Korea
  • Australia
  • Rest of APAC
• Latin America
  • Brazil (Largest Country)
  • Mexico (Fastest-Growing Country)
  • Rest of LATAM
• Middle East and Africa
  • Saudi Arabia (Largest Country)
  • South Africa
  • U.A.E. (Fastest-Growing Country)
  • Rest of MEA

Magnetoencephalography Market Share

The market is consolidated in nature because only a few firms worldwide are able to create MEG systems. This is due to the requirement for high technological expertise, complex regulatory approval procedures, and need for high capital for their shipping. Developing MEG systems is expensive and complicated, needing specific skills in superconducting sensors, cryo-technology, and highly customized software. These requirements lead to high barriers to entry for startups and regional firms. MEG systems are usually placed in bigger hospitals and research institutions, which work under long-term alliances and contracts with OEMs. It makes the hardware, software, and support services closely integrated, allowing the predominant companies to have a stronger market position.

Magnetoencephalography Market News

• In May 2025, Compumedics Limited, in partnership with Beijing Fistar and TJNU, carried out adult and child recordings from the Orion LifeSpan MEG.
• In November 2024, the University of Alabama at Birmingham upgraded its MEG system to improve research and treatment for epilepsy and brain disorders. The new system offers better brain coverage and more-accurate mapping for surgeries and diagnoses.