The demand within the global brain computer interface market has been rising on account of advancements in the field of wearable medical devices.
The demand within the global brain computer interface market has been rising on account of advancements in the field of wearable medical devices. The utility served by brain computer interface devices has played a key role in the popularity of these devices. A brain computer interface device helps in establishing a connection between a wired brain and an external medical device. These devices help in analysis of the functioning of the human brain, and can be a means to treat a number of chronic problems and diseases. Hence, the global brain computer interface market is projected to expand at a stellar pace in the years to follow. The presence of an adaptive healthcare fraternity has led to increased use of brain computer interface in the medical sector.
This blog by Transparency Market Research (TMR) on the global brain computer interface market captures the essence of the forces of demand and supply.
- Rising Incidences of Brain Disorders
The geriatric population is prone to a number of disorders related to the brain. Some of these disorders include strokes, Parkinson’s diseases, and amnesia, and all of these can place a negative toll on the health of individuals. Hence, the global demand for brain computer interface that can track brain-activity has been increasing at stellar pace.
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- Awareness Programs Inform Consumers about Utility of BCI Technology
Consumers are prophesied to adopt BCI technology due to increasing awareness about its utility through various advertisements and programs. Companies dealing with BCI could look to make their products compatible, sound, and innovative while being involved in extensive research and development activities. Demand for BCI is forecasted to gain a strong boost in the near future because of rising incidence of depression, stroke, and Parkinson’s disease among geriatrics. Geriatric population could be vulnerable to brain-related disorders that lead to severe disabilities. Over the years, BCI devices have attained the trust of older people with disabilities.
Developed regions such as Europe are envisioned to support market growth of BCI on the back of certain factors such as large-scale acceptance of the technology and robust technological development. Asia Pacific could also contribute while riding on growing disposable income of consumers and tall population rise.
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- North America Market to Witness Paced Growth
On the basis of regions, the global brain computer interface market can be segmented into South America, Europe, Asia Pacific, the Middle East and Africa, and North America. Investments in technological innovation across the US have played a defining role in driving sales across the regional market. The US healthcare industry is characterised by rapid adoption of new models, techniques, and devices. The quest of this industry to foster improved treatment practices shall play a crucial role in popularising BCI. Moreover, presence of a robust defense industry in the US shall also be a prominent contributor to market growth. Several gaming technologies have birthed across the entertainment sector of the US and Canada. The North America market has earned the benefits of early adoption of new technologies.
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Some of the leading players operating in the global brain computer interface market are Artinis Medical Systems B.V., Nihon Kohden Corporation, ANT Neuro B.V., and Blackrock Microsystems LLC.
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