Wireless Brain Sensor Market Size to Reach USD 804.3 Million in 2028 | Rising Need to Diagnose Sleeping Disorders and Increasing Incidence of Traumatic Brain Injuries are Some Key Factors Driving Industry Demand, says Emergen Research

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Dec 06, 2021, 09:00 ET

VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ -- The global wireless brain sensor market size reached USD 391.7 Million in 2020 and is expected to register a significantly steady revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Increasing prevalence of brain disorders is expected to drive market revenue growth between 2021 and 2028.

Drivers:

Increasing need to diagnose sleeping disorders is expected to demand for associated solutions and drive revenue growth of the global wireless brain sensor market to a significant extent over the forecast period. Devices such as sleep profiler measure multiple parameters, including Electroencephalogram (EEG) with comparable accuracy to Polysomnography (PSG). In addition, urgent need to measure intracranial pressure in the brain and inside the skull of patients suffering from brain injuries is expected to drive market revenue growth going ahead owing to increasing number of road accidents and events that result in head injuries, among others globally.

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Restraints:

Stringent regulations governing the use of sensors are expected to be a primary market restraining factor. These sensors when placed in the body can often trigger an immune response, which can be problematic for patients. As a result, the use of such devices has been regulated or prohibited in various applications, thereby hampering revenue growth of the market.

Growth Projections:

The global wireless brain sensor market is expected to expand at a CAGR of 9.5% from USD 391.7 Million in 2020 to USD 804.3 Million by 2028. Increasing usage of wireless brain sensors for the diagnosis of sleeping disorders, neurological disorders, and Parkinson's diseases is driving market revenue growth to a significant extent currently.

COVID-19 Impact Analysis:

COVID-19 is a health emergency that has mostly affected almost every industry. The wireless brain sensor market is showcasing a considerably impacted demand and behavioral change of consumers, purchasing patterns, supply chain re-routing, different dynamics of current market forces, and significant interventions by governments which account for most of the demand for wireless brain sensors.

Current Trends and Innovations:

Scientists have developed new high-data-rate, low-power wireless brain sensors that can make neuroscience research comparatively easier than a decade earlier. The technology is designed to enable neuroscience research that cannot be accomplished with currently available sensors that are tied with cabled connections. Results show that the technology transmitted rich and meaningful signals from animal models as they sleep, woke, or exercise. Furthermore, continuous technological advancements are expected to contribute significantly to revenue growth of the market going ahead.

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Geographical Outlook:

Asia Pacific is expected to register steady growth in terms of revenue over the forecast period. Increasing presence of various wireless brain sensor providers, including Hangzhou Zhongheng Electric Co., Ltd. in developing countries in the region is expected to drive market revenue growth.

Strategic Initiatives:

Some major companies profiled in the global market report are 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., and NeuroTherapeutics Pharma, Inc.

In August 2021, Careline Health Group, which is a healthcare organization, implemented Muse Healthcare's machine learning and predictive modeling tools to meet the needs of its patients. Muse technology helps to evaluate and model every clinical assessment, medication, vital sign, and other relevant data to perform a risk stratification of different patients. It also makes accurate changes to care plans based on the condition and location of patients.

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Emergen Research has segmented global wireless brain sensor on the basis of product, application, end-use, and region:

Product Outlook (Revenue, USD Billion; 2018–2028)

Electroencephalography (EEG) Devices
Sleep Monitoring Devices
Magnetoencephalography (MEG) Devices
Transcranial Doppler (TCD) Devices
Intracranial Pressure (ICP) Monitors & Accessories

Application Outlook (Revenue, USD Billion; 2018–2028)

Dementia
Epilepsy
Parkinson's Diseases
Traumatic Brain Injuries
Others

End-use Outlook (Revenue, USD Billion; 2018–2028)

Research Institutes
Neurological Hospitals
Diagnostic Centers
Others

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Regional Outlook (Revenue, USD Billion; 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 APAC

Latin America

Brazil
Rest of LATAM

Middle East & Africa

Saudi Arabia
UAE
South Africa
Turkey
Rest of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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