The global biofeedback measurement instrument market is witnessing significant growth driven by rising focus on mental healthcare across the globe. Biofeedback measurement instruments help in reducing stress, anxiety, depression and chronic pain by using signals from the autonomic nervous system. These instruments provide knowledge about the body’s functions to patients through visual feedback on a monitor or audio devices. The market offers different types of biofeedback instruments such as electromyograph instruments, thermofeedback instruments, electrodermal activity instruments and respiratory instruments.
The global biofeedback measurement instrument market is estimated to be valued at US$ 185.4 million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising focus on mental healthcare is driving the demand for biofeedback measurement instruments globally. Mental health issues are rising sharply worldwide due to changing lifestyles and increasing stress levels. According to WHO, more than 264 million people of all ages suffer from depression. Moreover, nearly 17 million adults in the US suffer from depression each year. Biofeedback helps in reducing stress, anxiety and depression in a non-pharmacological way through visual or audio feedback on body functions like heart rate, temperature and muscle activity. This is driving various healthcare facilities and institutions to adopt biofeedback for mental healthcare management. Increasing awareness about benefits of biofeedback in treating mental health issues is expected to boost the demand for biofeedback measurement instruments over the forecast period.
SWOT Analysis
Strength: Biofeedback measurement instruments have wide applicability across various therapeutic areas such as pain management, stress management and behavioral therapies. This wide usage drives the market growth.
Weakness: High cost of biofeedback measurement systems limits the adoption rate among smaller healthcare facilities and individual users. Lack of skilled professionals impedes the market expansion to some extent.
Opportunity: Rising awareness about stress management and incorporation of alternative therapies in the healthcare system presents lucrative opportunities. Growing application of biofeedback systems for neurological disordersopens new avenues.
Threats: Presence of alternative treatment modalities poses threat to the existing devices. Reimbursement issues related to biofeedback therapies restrict the demand in some regions.
Key Takeaways
The global Biofeedback Measurement Instrument market size is expected to witness high growth. The global biofeedback measurement instrument market is estimated to be valued at US$ 185.4 million in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.
North America dominates the global market and is expected to maintain its lead over the forecast period. Factors such as growing adoption of stress management therapies, rapid technological advancements and higher expenditure on healthcare drives the North American market. Europe and Asia Pacific are the other prominent regions witnessing significant growth rates.
Key players operating in the Biofeedback Measurement Instrument market are Thought Technology Ltd, ELMIKO, Mind Media, Laborie, Behavioral Medicine Associates, Inc, Neurocare Group Gmbh, Allengers Medical Systems, BrainMaster Technologies, Inc, Quantum World Vision, NCC Medical, Qxsubspace. Focus on new product launches and strategic acquisitions are the key business strategies adopted by these companies to strengthen their market position. For instance, in 2021, BrainMaster launched ProComp Infiniti with biometric measurements to enhance stress management and biofeedback therapies.
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