Wireless Brain Sensors Market is expected to grow at a CAGR of 10.30% by 2029

PRESS RELEASE
Published November 2, 2023

Experts leverage their knowledge and expertise to understand clients’ needs and evaluate competition, allowing them to devise strategic programs with short-term and long-term objectives. The report sheds light on market conditions, competitors’ marketing and pricing strategies, and assesses the reputation of firms and their products. Furthermore, it examines the drivers and restraints for Wireless Brain Sensors Market , derived from the SWOT analysis, and highlights recent developments, product launches, joint ventures, mergers, and acquisitions by key players and brands.

In recent years, the number of road accidents are increasing along with the surging prevalence rate of brain related disorders. These factors are resulting in the high demand of wireless brain sensors in market. Brain sensors have been evolving as a result of significant technological advancements in brain-computer interfaces. Wireless communication allows the sensors to be accessed from a distance.

Data Bridge Market Research analyses that the wireless brain sensors market is expected to grow at a CAGR of 10.30% during the forecast period of 2022 to 2029. Electroencephalography (EEG) devices segment is estimated to hold the largest share of wireless brain sensors market. The brain’s electrical activity can be recorded using EEG sensors. The signals are digitalized and amplified before being transferred to a mobile device or computer for processing and storage.

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The intracranial pressure and temperature of individuals with severe traumatic brain injuries are monitored using wireless brain sensors. Wireless brain sensors include electroencephalography devices, sleep monitoring devices, transcranial Doppler devices and others. These sensors aid in the monitoring of neurological changes and the enhancement of cognitive abilities. These sensors are wireless and may be accessed via wireless networking with the use of a smartphone, tablet, or computer, making the device more cost-effective.

 

Drivers

  • The rise in adoption of unhealthy lifestyle

One of the primary factors driving the market for wireless brain sensors is the increasing acceptance of sedentary lifestyles around the world. Stroke and migraine are caused by a variety of bad lifestyle choices, including alcoholism and smoking.

  • Rising prevalence rate of TBI

The increasing prevalence rate of traumatic brain injuries (TBI) will accelerate the demand for wireless brain sensors market. TBIs are caused by a blow, bump, or shock to the head that causes permanent or temporary brain damage. Sports injuries, gunshot wounds, falls, domestic violence, and car accidents are all common causes of TBIs.

Furthermore, the increase in number of road accidents will increase the demand for wireless brain sensors and further propel the market’s growth rate. Another significant factor resulting in the expansion of market is the increasing incidence rate of neurological diseases such as Parkinson’s disease, Alzheimer’s disease, epilepsy, and others. Also, surging healthcare spending capacity and advancement in healthcare infrastructure are the major drivers that will enhance the growth of market. Rapid urbanisation, and rise in the level of disposable incomes in developing and developed countries will influence the growth rate of wireless brain sensors market.

Recent Development

  • In May 2021, Morningside Ventures had sponsored USD 17.5 million in a Series A fundraising round for Neuroelectrics, a pioneer in brain stimulation technologies and therapeutics. The funding will be utilized to advance clinical trials in refractory focal epilepsy and at-home treatment of refractory depression, as well as Neuroelectrics’ non-invasive transcranial electrical stimulation therapeutic platform.

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Some of the major players operating in the wireless brain sensors market are MUSE DIAGNOSTICS PVT LTD, EMOTIV, Advanced Brain Monitoring, Inc., NIHON KOHDEN CORPORATION, NeuroSky, Neuroelectrics, Brain Products GmbH, Natus Medical Incorporated, Koninklijke Philips N.V., General Electric, Siemens Healthcare GmbH, Compumedics Limited, Medtronic, Edwards Lifesciences Corporation, BrainScope Company Inc., NeuroWave Systems Inc., Cadwell Industries, Inc., Jordan NeuroScience, Inc., Quest Diagnostics Incorporated, and Hangzhou ZhongHeng Power Energy Co. Ltd., among others.

Wireless Brain Sensors Market Scope

The wireless brain sensors market is segmented on the basis of product, applications and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

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

On the basis of product, the wireless brain sensor market is segmented into electroencephalography (EEG) devices, sleep monitoring devices, magnetoencephalography (MEG) devices, transcranial Doppler (TCD) devices, intracranial pressure (ICP) monitors and accessories.

Application

  • Epilepsy
  • Huntington’s Disease
  • Traumatic Brain Injuries
  • Dementia
  • Migraine
  • Sleep Disorders
  • Parkinson’s Disease
  • Stroke

Based on application, the wireless brain sensor market is segmented into epilepsy, Huntington’s disease, traumatic brain injuries, dementia, migraine, sleep disorders, Parkinson’s disease and stroke.

End-Users

  • Research Institutes
  • Neurology Hospitals
  • Diagnostic Centers
  • Others

The end-users segment is segmented into research institutes, neurology hospitals, diagnostic centers and others.

Key Advantages of the Report: 

  • This study provides an analytical overview of the industry, including current trends and future predictions to identify potential investment opportunities.
  • The report offers insights into key drivers, limitations, and prospects, along with a comprehensive market share analysis.
  • The report quantitatively assesses the current market, shedding light on its growth prospects.
  • A Porter’s five forces analysis gauges the bargaining power of buyers and suppliers in the market.
  • The report delivers an in-depth market analysis that considers competitive dynamics and forecasts the future competitive landscape.

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What to Anticipate from the Report – A 7-Point Guide:

  • The report delves into the holistic strategy and innovation within the market ecosystem.
  • It highlights prominent market drivers and obstacles, providing clarity on technological standardization and regulatory frameworks.
  • The report evaluates various implementation models and examines numerous use cases.
  • Serving as a valuable resource, the report offers essential industry insights, showcasing information on new investments, stakeholders, relevant contributors, and market participants.
  • Through the forecast period, the report conducts a thorough market analysis, referencing historical developments, ongoing events, and future growth prospects.

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