Brain Health Devices Market

Global Brain Health Devices Market Is Estimated To Witness High Growth Owing To Rising Awareness About Brain Health

by

The global brain health devices market is estimated to be valued at US$ 9,070.5 million in 2018 and is expected to exhibit a CAGR of 7.7% over the forecast period, according to a new report published by Coherent Market Insights.

A) Market Overview:

Brain health devices are medical devices designed to monitor and treat various brain disorders such as epilepsy, Alzheimer’s disease, Parkinson’s disease, and sleep disorders. These devices provide real-time data about brain activity and help in the diagnosis and treatment of neurological conditions. The advantages of brain health devices include non-invasive procedures, accurate diagnosis, and improved patient outcomes. The increasing prevalence of neurological disorders and the rising awareness about brain health are driving the demand for brain health devices.

B) Market Key Trends:

One key trend in the brain health devices market is the increasing adoption of wearable brain monitoring devices. Wearable devices such as EEG headsets and sleep trackers are gaining popularity among consumers as they provide convenience and real-time data about brain activity. These devices can be used at home or in clinical settings, enabling continuous monitoring of brain health and facilitating early diagnosis of neurological disorders. For example, Advanced Brain Monitoring Inc. offers wearable EEG headsets that can be used for monitoring brain activity during sleep to detect abnormalities related to sleep disorders.

C) PEST Analysis:

Political:

Government initiatives to promote brain health and support research and development in neuroscience are driving the growth of the brain health devices market.

Economic:

The increasing healthcare expenditure and the growing geriatric population are contributing to the market growth.

Social:

The rising awareness about brain health and the importance of early diagnosis and treatment of neurological disorders are influencing the demand for brain health devices.

Technological:

Advances in neuroimaging techniques, remote monitoring capabilities, and data analytics are driving innovation in brain health devices, leading to improved diagnosis and treatment outcomes.

D) Key Takeaways:

The global brain health devices market is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period, due to increasing awareness about brain health and the rising prevalence of neurological disorders.

North America is the fastest-growing and dominating region in the brain health devices market, owing to the presence of advanced healthcare infrastructure, favorable reimbursement policies, and increased research and development activities.

Key players operating in the global brain health devices market include CAS Medical Systems Inc., Advanced Brain Monitoring Inc., Covidien PLC, Cadwell Laboratories Inc., Elekta AB, GE Healthcare, Masimo Corporation, Natus Medical Inc., Integra LifeSciences Holdings Corporation, NeuroWave Systems Inc., Philips Healthcare, Nihon Kohden Corporation, and Siemens Healthineers. These companies focus on strategic partnerships, product launches, and mergers and acquisitions to strengthen their market position.

In conclusion, the global brain health devices market is witnessing significant growth due to the rising awareness about brain health and the increasing prevalence of neurological disorders. The adoption of wearable brain monitoring devices is a key trend in the market. Government initiatives, economic factors, social trends, and technological advancements are driving market growth. North America is the fastest-growing region, and key players are focusing on strategic initiatives to expand their market presence.