Global Wireless Brain Sensors Market was valued at US$ 1,558.2 million in 2022 and is anticipated to reach US$ 2,903.8 million by 2026 displaying reasonable CAGR of 9.3% over the forecast period (2022-2031). Neurological disorders are recognized as one of the most prevalent diseases with a higher burden on the patients, their families, and society. 20 million Americans experience some form of neuropathy, and about 16% of U.S. households contain an individual with brain impairment. According to the Federal Interagency Forum on Aging-Related Statistics, 35.8% of persons aged 85 years and older have moderate or severe memory impairment. The prevalence of neurological disorders such as Alzheimer’s and Parkinson’s among others are increasing. Rising technological advancements have resulted in the advent of wireless brain sensors technology. The wireless brain sensors can monitor intracranial pressure/temperature and can be deployed for the monitoring of patients suffering from traumatic brain injuries and other neurological disorders. The market of Wireless Brain Sensors market is anticipated to grow enormously owing to factors such as rising geriatric population, increasing prevalence of neurological disorders and traumatic brain injuries, increasing stress, escalation penetration of smartphones and the internet. Moreover, increasing life expectancy due to rising awareness and better medical facilities would further boost this market, as the prevalence of age-related neurological disorders has increased over the year, majorly in the developed countries. Increasing demand for connected devices, ease of use of such sensors by neurodevelopmental populations is further expected to boom the industry. However, privacy issues will act as the major challenges in the growth of this market.
“Brain Sensors are majorly applied in Electroencephalography (EEG) Devices”
Based on product type the global wireless brain sensors market is bifurcated into Electroencephalography (EEG), sleep monitoring devices, magnetoencephalography (MEG), Transcranial Doppler (TCD) Devices, Intracranial Pressure (ICP) Monitors, Other (Accessories). Electroencephalography (EEG) Device segment dominated the market, generating revenue of US$ 525.07 million in 2022. Sleep Monitoring Devices are expected to witness a CAGR growth of 9.8% during the forecast period 2022-2031.
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“Wireless Brain sensors are major applications to the treatment and tracking of Traumatic Brain Injuries”
Based on medical conditions, the global Wireless Brain Sensors market is segmented into Parkinson’s disease, Alzheimer’s disease, sleep disorders, traumatic brain injuries, epilepsy, migraine, Stroke and others. Application of wireless brain sensors for Traumatic Brain Injuries occupied the largest share of 24.6% in 2022. TBI contributes to worldwide death and disability more than any other traumatic insult. Epilepsy disease would witness the highest adoption of brain sensors in the years to come. The segment is expected to grow at a CAGR of 10.3% during the forecast period.
“Amongst end-user, the hospital was the highest user of Wireless Brain Sensors, accounting for 66.5% share in 2019”
Hospitals, Diagnostic Centers, Research Institutes among others were the major end-user segments of the wireless brain sensors technology. The hospital segment dominated the market in 2019 and is expected to generate revenue of US$ 1,460.18 million by 2023. However, the use of these brain sensors in Diagnostic Centres is expected to witness the highest CAGR growth of 10.1% during the analysed period.
“North America dominated the adoption of wireless brain sensors technology, generating revenue of US$ 791.43 million in 2019”
For better understanding of the overall adoption and penetration of wireless brain sensors technology, deep-dive country-level analysis was conducted for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific) and Rest of the world. In 2019, North America was the largest market of the technology owing to the high prevalence of age-related neurological disorders and the rising old age population along with high awareness among the people. Europe and Asia-Pacific regions are expected to witness the highest CAGR of 10.0% and 9.9% respectively during the analysed period.
Competitive Landscape-Top 10 Market Players
EMOTIV Inc, Advanced Brain Monitoring, Inc., Muse, Neurosky, Neuroelectrics, Cognionics, Inc., Wearable Sensing, Bitbrain Technologies, Compumedics Neuroscan and Brain Products Gmbh are some of the prominent players operating in the Global Wireless Brain Sensors market industry. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with hi-tech and innovative products.
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Reasons to buy:
• Current and future market size from 2019 to 2026 in terms of value (US$)
• Combined analysis of deep-dive secondary research and input from primary research through Key Opinion Leaders of the industry
• Country-level details of the overall adoption of Wireless Brain Sensors market
• A quick review of overall industry performance at a glance
• In-depth analysis of key industry players
• A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
• Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start-ups
• The study comprehensively covers the market across different segments and sub-segments of the technology
• Regions/countries Covered: North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific) and Rest of the world
UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The Global Wireless Brain Sensors Market can be customized to the country level or any other market segment.
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