According to Emergen Research, the global wireless brain sensor market size was USD 391.7 million in 2020 and is expected to reach USD 804.3 million in 2028 and register a revenue CAGR of 9.5% during the forecast period, 2021-2028.
Emergen Research has published its latest report titled “Wireless Brain Sensor Market, By Product Type (Electroencephalography Devices, Sleep Monitoring Devices, Magnetoencephalography Devices, Transcranial Doppler Devices, Intracranial Pressure Monitors & Accessories), By Application (Dementia, Epilepsy, Parkinson’s Diseases, Traumatic Brain Injuries, Others), By End-use (Research Institutes, Neurological Hospitals, Diagnostic Centers, Others), and By Region, Forecast to 2028”
According to Emergen Research, the global wireless brain sensor market size was USD 391.7 million in 2020 and is expected to reach USD 804.3 million in 2028 and register a revenue CAGR of 9.5% during the forecast period, 2021-2028.
Market Dynamics:
Steady revenue growth of the global wireless brain sensor market is attributed to factors such as increasing rate of accidents and road injuries, rising incidences of traumatic brain injuries, growing prevalence of neurological disorders such as Alzheimer’s Disease and Parkinson’s Disease, increasing use of wireless brain sensors including electroencephalography (EEG) devices, magnetoencephalography (MEG) devices, and intracranial pressure monitors & accessories for diagnosis and treatment of neurological disorders. Growing geriatric population worldwide, increasing patient pool, rising need for wireless brain sensors for long-term monitoring sessions, and rapid adoption of advanced healthcare technologies are other major factors expected to drive the global wireless brain sensor market revenue growth during the forecast years.
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COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Electroencephalography (EEG) Devices Product Type Segment Accounted for Largest Revenue Share in 2020:
The electroencephalography (EEG) devices segment accounted for the largest revenue share in the global market in 2020 due to factors such as rising prevalence of traumatic brain injuries, strokes, migraines, and other conditions. Electroencephalography devices collect and record the brain’s electrical activity in order to detect the type of injury. These devices can also be used to monitor one’s mood and emotions and improve their overall wellness.
Traumatic Brain Injuries Application Segment to Account for Fastest Revenue CAGR:
Based on application, the traumatic brain injuries segment is expected to register the fastest revenue growth rate in the global wireless brain sensor market over the forecast period. Factors contributing to revenue growth of this segment are increasing involvement of people in sports and recreational activities, increasing incidences of accidents and brain injuries, increasing patient pool, and growing awareness of wireless brain sensor technologies.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America wireless brain sensor market accounted for largest revenue share in the global market in 2020, owing to many favorable factors. Increasing prevalence of neurological disorders such as the Parkinson’s and Alzheimer’s Disease and, increasing cases of severe traumatic brain injuries, rapid adoption of wireless brain sensor devices, and increasing R&D activities and clinical trials of new product innovations are key drivers for the North America market revenue growth. Presence of leading industry players including Advanced Brain Monitoring, Inc., NeuroSky, Inc., EMOTIV, Inc., and Neuronetrix Solutions is another key factor driving the regional market revenue growth.
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Major Companies in the Global Wireless Brain Sensor Market Include:
- EMOTIV Inc.
- Advanced Brain Monitoring, Inc.
- InteraXon Inc. (Muse)
- Neurosky, Inc.
- Neuroelectrics Corporation
- Evolent Health, Inc.
- Neuronetrix Solutions
- Hangzhou Zhongheng Electric Co., Ltd.
- Deayea Technology Co., Ltd.
- NeuroTherapeutics Pharma, Inc.
For the purpose of this report, Emergen Research has segmented the global wireless brain sensor market based on product type, application, end-use, and region:
Product Type Outlook (Revenue, USD Million; 2018–2028)
- Electroencephalography (EEG) Devices
- Sleep Monitoring Devices
- Magnetoencephalography (MEG) Devices
- Transcranial Doppler (TCD) Devices
- Intracranial Pressure (ICP) Monitors & Accessories
Application Outlook (Revenue, USD Million; 2018–2028)
- Dementia
- Epilepsy
- Parkinson’s Diseases
- Traumatic Brain Injuries
- Others
End-use Outlook (Revenue, USD Million; 2018–2028)
- Research Institutes
- Neurological Hospitals
- Diagnostic Centers
- Others
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Region Outlook (Revenue, USD Million; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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