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

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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