Market Highlights
The Ontogenetic Market is projected to reach USD 1742.48 Million by 2030 at 3.90% CAGR during the forecast period 2022-2030.
The ontogenetic market is witnessing new shift due to increased funding for research.
The government, as well as companies, are spending a large amount of money for research, which is a major driver of this market. The global ontogenetic market has been evaluated as a moderately growing market and it is expected to continue growing in the near future. Advancing technology and changing healthcare practices are the major driving forces of this market. Epilepsy accounts nearly 0.6% of total global disease. Increasing demand from emerging markets such as India and China are another key driver of the market. Research laboratories are also playing an important role in the growth of this market. Universities or academic institutes are engaged in an extensive study on this field and contributing to the growth of this market.
However, slow adoption and traditional practices are inhibiting the growth of this market.
Regional Analysis
Considering the global scenario of the ontogenetic market, there are four main regions: the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas dominate the global ontogenetic market, especially, North America is a top revenue generating region in the global market. North America mainly consists of the U.S. and Canada while South America includes Brazil, Chile, and other South American countries. Due to a large amount of money invested in the research and availability of top-class infrastructure, the U.S. is dominating this market.
Europe holds the second largest share of the global ontogenetic market owing to increasing focus of various government agencies on the research and development and clinical trials. On the other hand, developed West European region is holding the majority of market share whereas East European countries are also growing at a significant rate in this market.
The Asia Pacific is the fastest growing market across the globe. Moreover, rapidly developing economies, increasing healthcare expenditure, and the government’s initiatives for research development are the driving the growth of this region.
Three-fourths of people affected with epilepsy are living in low and middle-income countries and not getting proper treatment.
The Middle East and African region hold the least share of the global market due to lack of awareness, traditional healthcare practices, and slow adoption of new healthcare techniques. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East African market. Whereas the African region is expected to witness a moderate growth.
Segmentation
The global ontogenetic market is segmented on the basis of devices, application, and end user.
On the basis of the devices, it is segmented into electro-encephalography, magnetoencephalography, and others.
On the basis of the application, it is segmented into developmental biology, developmental psychology, developmental cognitive neuroscience, developmental psychobiology, and others.
On the basis of the end users, it is segmented into research laboratories, academic institutes, and others. Furthermore, the research laboratories are segmented into government research laboratories, independent or private research laboratories, and others.
Key Players
Some of the top key Ontogenetic Market players are ANT Neuro (the Netherlands), EMS Handels Gesellschaft mbH (Austria), Natus Medical Incorporated (U.S.), Ontogeny, Inc (U.S.), Symbiotic Devices (Australia), and others.
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