Wireless Brain Sensors Market by Product (Electroencephalography (EEG) devices, Sleep Monitoring Devices, Magnetoencephalography (MEG) devices, Transcranial Doppler (TCD) devices, Intracranial pressure (ICP) monitors, and Accessories), Application (Dementia, Epilepsy, Huntington\'s disease, Parkinson\'s disease, Sleep Disorders, and Others), End User (Multi-specialty hospitals, Diagnostic centers, and Others), and Geography: Global Market Size Estimates and Forecast (2022-2030)

Code: BMIRE00026883 | Pages: 100 | Industry: Medical Device | Date: Oct 2022 | Type: Global

The market crossed the US$ 483.97 billion mark in 2022 and is expected to hit US$ 1021.70 billion by 2030, recording a CAGR of 9.8% during the forecast period.

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The wireless brain sensors market has been significantly growing with the increasing consumption of drugs and alcohol

The increasing prevalence of brain-related disorders, the high frequency of neurological disorders due to increased stress levels, and growing technological advancements in brain sensor applications are some of the major factors driving the market's growth. According to the World Health Organization (WHO), the largest contributors to neurological disability-adjusted life years in 2016 include stroke (42.2%), migraine (16.3%), dementia (10.4%), meningitis (7.9%) and epilepsy (5%). Parkinson's disease, propelled by an increasingly aging population, is the fastest-growing neurological disorder. Thus, the high incidence of various neurological diseases drives the demand for wireless brain sensors, complementing the market's growth during the forecast period.

The electroencephalography (EEG) devices segment under the product segment is expected to pace with reduced reaction time and rapid outcomes. Further, another segment, such as Parkinson's disease application, is expected to gain traction during the forecasted year.

The report segments the wireless brain sensors market into the product, application, end user, and geography. By product, the market is further segmented into electroencephalography (EEG) devices, sleep monitoring devices, magnetoencephalography (MEG) devices, transcranial doppler (TCD) devices, intracranial pressure (ICP) monitors, and accessories. Based on application, the market is segmented into dementia, epilepsy, Huntington's disease, Parkinson's disease, sleep disorders, and others. The end user categorizes the market into multi-specialty hospitals, diagnostic centers, and others. Geographically, the market is sub-segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Sleep Monitoring Device is a New Innovation That Escalated the Growth of the Market

The increasing trend for wearable health tracking devices has provided significant demand for sleep monitoring devices to track sleeping habits along with several health conditions and disorders. According to Johns Hopkins Medicine, sleep monitoring devices are used to monitor brain waves to analyze the sleep cycle stages during the night, which helps diagnose conditions like sleep apnea and other sleep disorders. Therefore, the rising application of sleep monitoring devices propels the wireless brain sensors market.

Traumatic Brain Injuries Propel the Demand for Wireless Brain Sensors

A traumatic brain injury is an injury that usually results from a violent jolt to the body or head. Wireless brain sensors are a non-invasive method to monitor brain injuries. According to the U.S. Department of Health & Human Services, brain injury is a leading cause of death and disability among children and young adults in the United States. Each year an estimated 1.5 million Americans suffer from traumatic brain injuries. Thus, the high incidence of brain injuries is expected to increase the application of wireless brain sensors, which drives the market's growth.

 

Recent strategic developments in the wireless brain sensors market

The wireless brain sensors market has undergone several significant developments, and a few of these have been mentioned below:

  • In March 2022, Interaxon Inc. ( Muse), a leading consumer neurotechnology and meditation company, announced their VR Software Development Kit (SDK) alongside a new EEG headband designed to be compatible with all major VR head-mounted displays (HMDs) building off Interaxon's second-generation EEG meditation & sleep headband, Muse S. Through this launch, Interaxon aims to support strategic partnership opportunities for innovations in brain health leveraging their biosensing technology in VR and AR applications.
  • In July 2021, In collaboration with Celéri Health and Dr. Ronald Siegel, Interaxon developed a sophisticated system that can be used to treat chronic pain. The system combines next-generation wearable sensor technology with a sophisticated pain-reduction therapeutic program.
  • In May 2020, Neuroelectrics announced that the FDA has approved the Investigational Device Exemption supplemental protocol study submitted by Neuroelectrics to help patients with Major Depression Disorder (MDD) that cannot access their current non-invasive brain stimulation treatment (rTMS or ECT) due to COVID-19 related restrictions.

 

Several players drive the wireless brain sensors market by implementing various strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Emotiv Inc.; Advanced Brain Monitoring, Inc.; InteraXon Inc.; NeuroSky, Inc.; Neuroelectrics; Koninklijke Philips N.V.; Nihon Kohden Corporation; OpenBCI; Cognionics, Inc.; and g.tec medical engineering GmbH are among the prominent players operating in the wireless brain sensors market.

Target audience for the report:

  • Wireless Sensor Manufacturers
  • Research institutes, organizations, and consulting companies
  • Healthcare Providers
  • Component Manufacturers and Distributors
  • Academic Institutes
  • Medical device manufacturers and suppliers

 

Scope of the report:

In this report, the market has been segmented on the basis of:

  • Product:
    • Electroencephalography (EEG) devices
    • Sleep Monitoring Devices
    • Magnetoencephalography (MEG) devices
    • Transcranial Doppler (TCD) devices
    • Intracranial pressure (ICP) monitors
    • Accessories

 

  • Application
    • Dementia
    • Epilepsy
    • Huntington's disease
    • Parkinson's disease
    • Sleep Disorders
    • Others

 

  • End User:
    • Multi-specialty hospitals
    • Diagnostic centers
    • Others

 

  • Region
    • North America
    • Europe
    • Asia Pacific (APAC)
    • South & Central America
    • Middle East & Africa

 

  • Companies profiled
    • Emotiv Inc.
    • Advanced Brain Monitoring, Inc.
    • InteraXon Inc.
    • NeuroSky, Inc.
    • Neuroelectrics
    • Koninklijke Philips N.V.
    • Nihon Kohden Corporation
    • OpenBCI
    • Cognionics, Inc.
    • g.tec medical engineering
    • GmbH

The List of Companies
- Emotiv Inc.
- Advanced Brain Monitoring, Inc.
- InteraXon Inc.
- NeuroSky, Inc.
- Neuroelectrics
- Koninklijke Philips N.V.
- Nihon Kohden Corporation
- OpenBCI
- Cognionics, Inc.
- g.tec medical engineering GmbH

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