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Dublin, Aug. 05, 2022 (GLOBE NEWSWIRE) -- The 'Brain Monitoring Market By Product Type, By End Use, By Application, and By Region' report has been added to ResearchAndMarkets.com's offering.
The global brain monitoring market size is expected to reach USD 9,942.6 Million in 2028 and register a revenue CAGR of 5.9% over the forecast period, according to the latest report. The rising number of brain disorders, favorable government regulations regarding the adoption of brain monitoring devices, and technological advancements are some of the notable factors projected to fuel market growth over the forecast period.
In recent years, there has been a significant rise in the prevalence of brain disorders worldwide. According to the National Institute of Mental Health (NIMH), in the United States, approximately one in every five adults suffers from a mental illness. The global prevalence of Alzheimer's disease is projected to reach 131.5 million by 2050. Moreover, the increasing geriatric population and the rising awareness about brain disorders are other major factors that are expected to drive market growth over the forecast period.
The favorable government regulations regarding the adoption of brain monitoring devices are expected to propel market growth over the forecast period. For instance, in February 2019, the U.S. Food and Drug Administration (FDA) cleared the RNS System for treating epilepsy.
The system is a brain-responsive neurostimulation device that helps in reducing seizure frequency by delivering targeted electrical stimulations to specific areas of the brain that are associated with seizure onset. Similarly, in January 2019, the FDA cleared the Intellis platform for treating chronic pain. The system is a spinal cord stimulator that helps in reducing pain by delivering electrical stimulations to specific areas of the spinal cord.
The increasing adoption of brain monitoring devices is expected to fuel market growth over the forecast period. For instance, in September 2019, researchers at the University of Glasgow developed a brain-computer interface (BCI) system that can be used to type at eight words per minute.
The system uses a non-invasive electroencephalography (EEG) headset to record brain activity and translate it into text. Similarly, in August 2019, a team of researchers at the University of Minnesota developed a non-invasive brain-computer interface (BCI) system that can be used to control robotic limbs. The system uses alternating current stimulation (ACS) to modulate the activity of neurons and generate signals that can be decoded by a computer to control robotic limbs.
Product Type Outlook (Revenue, USD Million; 2018-2028)
- Electroencephalography (EEG) Devices
- Magnetoencephalography (MEG) Devices
- Transcranial Doppler (TCD) Devices
- Intracranial Pressure (ICP) Monitors
- Cerebral Oximeters
- Magnetic Resonance Imaging (MRI) Devices
- Computerized Tomography (CT) Devices
- Positron Emission Tomography (PET) Devices
- Electromyography Devices
- Sleep Monitoring Devices
End Use Outlook (Revenue, USD Million; 2018-2028)
- Hospitals
- Neurology Centers
- Ambulatory Surgical Centers
- Diagnostic Centers
- Others
Application Outlook (Revenue, USD Million; 2018-2028)
- Parkinson's Disease
- Traumatic Brain Injury
- Epilepsy
- Dementia
- Huntington's Disease
- Sleep Disorders
- Stroke
- Headache Disorders
Regional Outlook (Revenue, USD Million; 2018-2028)
Market Dynamics
Market drivers
- Growing incidences of neurological disorders
- Increasing prevalence of traumatic brain injuries
- Technological Advancement in brain monitoring devices
Market restraints analysis
- High cost of brain monitoring procedure and devices
- Strict government rules for approval of devices
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Brain Monitoring Market Segmentation & Impact Analysis
Chapter 5. Brain Monitoring Market By Product Type Insights & Trends
Chapter 6. Brain Monitoring Market By End Use Insights & Trends
Chapter 7. Brain Monitoring Market Application Insights & Trends
Chapter 8. Brain Monitoring Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
Companies Mentioned
- Advanced Brain Monitoring Inc.
- CAS Medical Systems Inc.
- Compumedics Ltd.
- Electrical Geodesics Inc.
- General Electric Company (GE Healthcare)
- Koninklijke Philips N.V. (Philips Healthcare)
- Medtronic PLC.
- Natus Medical Incorporated
- Neural Analytics Inc
- Nihon Kohden Corporation
- Siemens Healthineers AG
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