Global Wireless Brain Sensors Market, By Product (Electroencephalography (EEG) Devices, Sleep Monitoring Devices, Magnetoencephalography (MEG) Devices, Transcranial Doppler (TCD) Devices, Intracranial pressure (ICP) Monitors, Accessories), Application (Epilepsy, Huntington's Disease, Traumatic Brain Injuries, Dementia, Migraine, Sleep Disorders, Parkinson’s Disease, Stroke), End-Users (Research Institutes, Neurology Hospitals, Diagnostic Centers, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
In recent years, the number of road accidents are increasing along with the surging prevalence rate of brain related disorders. These factors are resulting in the high demand of wireless brain sensors in market. Brain sensors have been evolving as a result of significant technological advancements in brain-computer interfaces. Wireless communication allows the sensors to be accessed from a distance.
- Data Bridge Market Research analyses that the wireless brain sensors market is expected to grow at a CAGR of 10.30% during the forecast period of 2022 to 2029. Electroencephalography (EEG) devices segment is estimated to hold the largest share of wireless brain sensors market. The brain's electrical activity can be recorded using EEG sensors. The signals are digitalized and amplified before being transferred to a mobile device or computer for processing and storage.
The intracranial pressure and temperature of individuals with severe traumatic brain injuries are monitored using wireless brain sensors. Wireless brain sensors include electroencephalography devices, sleep monitoring devices, transcranial Doppler devices and others. These sensors aid in the monitoring of neurological changes and the enhancement of cognitive abilities. These sensors are wireless and may be accessed via wireless networking with the use of a smartphone, tablet, or computer, making the device more cost-effective.
Wireless Brain Sensors Market Dynamics
The rise in adoption of unhealthy lifestyle
One of the primary factors driving the market for wireless brain sensors is the increasing acceptance of sedentary lifestyles around the world. Stroke and migraine are caused by a variety of bad lifestyle choices, including alcoholism and smoking.
Rising prevalence rate of TBI
The increasing prevalence rate of traumatic brain injuries (TBI) will accelerate the demand for wireless brain sensors market. TBIs are caused by a blow, bump, or shock to the head that causes permanent or temporary brain damage. Sports injuries, gunshot wounds, falls, domestic violence, and car accidents are all common causes of TBIs.
Furthermore, the increase in number of road accidents will increase the demand for wireless brain sensors and further propel the market’s growth rate. Another significant factor resulting in the expansion of market is the increasing incidence rate of neurological diseases such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and others. Also, surging healthcare spending capacity and advancement in healthcare infrastructure are the major drivers that will enhance the growth of market. Rapid urbanisation, and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of wireless brain sensors market.
Growth of government initiatives
The rise in the number of government initiatives along with the advancements in clinical development framework of developing nations will provide beneficial opportunities for the wireless brain sensors market growth. Moreover, the increasing demand from emerging markets and technological advancement will further expand the wireless brain sensors market’s growth rate in the future.
On the other hand, high cost associated with sensors and complexities in understanding product functionality will obstruct the market growth. Also, strict safety and validation regulations will challenge the wireless brain sensors market. However, the dearth of skilled professionals and compatibility issues will act as restrain and further impede the growth rate of market during the forecast period of 2022-2029.
This wireless brain sensors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the wireless brain sensors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Wireless Brain Sensors Market
Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19's effects are being felt all over the world, and the wireless brain sensors market is significantly affected. Significant supply chain slowdowns, stock market volatility, decreasing corporate confidence, and rising panic have all been impacted by the COVID-19. As a result, the market for wireless brain sensors impacted negatively.
- In May 2021, Morningside Ventures had sponsored USD 17.5 million in a Series A fundraising round for Neuroelectrics, a pioneer in brain stimulation technologies and therapeutics. The funding will be utilized to advance clinical trials in refractory focal epilepsy and at-home treatment of refractory depression, as well as Neuroelectrics' non-invasive transcranial electrical stimulation therapeutic platform.
Global Wireless Brain Sensors Market Scope
The wireless brain sensors market is segmented on the basis of product, applications and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Electroencephalography (EEG) Devices
- Sleep Monitoring Devices
- Magnetoencephalography (MEG) Devices
- Transcranial Doppler (TCD) Devices
- Intracranial pressure (ICP) Monitors
On the basis of product, the wireless brain sensor market is segmented into electroencephalography (EEG) devices, sleep monitoring devices, magnetoencephalography (MEG) devices, transcranial Doppler (TCD) devices, intracranial pressure (ICP) monitors and accessories.
- Huntington's Disease
- Traumatic Brain Injuries
- Sleep Disorders
- Parkinson’s Disease
Based on application, the wireless brain sensor market is segmented into epilepsy, Huntington’s disease, traumatic brain injuries, dementia, migraine, sleep disorders, Parkinson’s disease and stroke.
- Research Institutes
- Neurology Hospitals
- Diagnostic Centers
The end-users segment is segmented into research institutes, neurology hospitals, diagnostic centers and others.
Wireless Brain Sensors Market Regional Analysis/Insights
The wireless brain sensors market is analysed and market size insights and trends are provided by country, product, applications and end-users as referenced above.
The countries covered in the wireless brain sensors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the wireless brain sensors market because of the well-established healthcare sector and increasing prevalence rate of traumatic brain injuries. Additionally, technological advancement and favourable reimbursement scenario will further propel the market’s growth rate in this region.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the presence of large target population and high investment for research and development in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The wireless brain sensors market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for wireless brain sensors market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the wireless brain sensors market. The data is available for historic period 2010-2020.
Competitive Landscape and Wireless Brain Sensors Market Share Analysis
The wireless brain sensors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to wireless brain sensors market.
Some of the major players operating in the wireless brain sensors market are MUSE DIAGNOSTICS PVT LTD, EMOTIV, Advanced Brain Monitoring, Inc., NIHON KOHDEN CORPORATION, NeuroSky, Neuroelectrics, Brain Products GmbH, Natus Medical Incorporated, Koninklijke Philips N.V., General Electric, Siemens Healthcare GmbH, Compumedics Limited, Medtronic, Edwards Lifesciences Corporation, BrainScope Company Inc., NeuroWave Systems Inc., Cadwell Industries, Inc., Jordan NeuroScience, Inc., Quest Diagnostics Incorporated, and Hangzhou ZhongHeng Power Energy Co. Ltd., among others.