According to FutureWise analysis the market for brain health devices in 2023 is US$ 13.59 billion, and is expected to reach US$ 25.94 billion by 2031 at a CAGR of 8.4%.
Magneto encephalograms, cerebral oximeters, electromyography (EMG) devices, deep brain stimulation systems (brain pacemaker), and other implantable brain devices are examples of brain health equipment, also referred to as brain monitoring devices. These devices are used to control and monitor activity connected to brain cell (neurons) processes that can lead to neurological disorders like Alzheimer's, Parkinson's, epilepsy, dementia, multiple sclerosis, sleep problem, and brain tumours. Drug therapy can be used to treat certain neurological problems, but in the latter stages of the disease, surgical operations may be required. Neurological disorders such as Alzheimer's disease, dementias, epilepsy, cerebrovascular diseases (stroke), Parkinson's disease, multiple sclerosis, neuroinfections, brain tumours, and traumatic disorders of the nervous system, as well as headache disorders like migraines, are all treated with brain health devices. Infections like the Zika virus, bacterial infections like Neisseria meningitides, and fungal infections can all cause neurological problems (Cryptococcus). According to the World Health Organization (WHO), neurological illnesses afflicted over 450 million individuals worldwide in 2016. Furthermore, according to the same source, around 50 million people worldwide suffer from epilepsy, and over 6 million people die from stroke each year. To monitor brain activity, brain health equipment such as computed tomography, magnetic resonance imaging (MRI), electro encephalogram, magneto encephalogram, and transcranial doppler (TCD) are routinely utilised. The market for brain health devices is predicted to be driven by rising demand for minimally invasive treatment alternatives in emerging nations. Furthermore, brain health devices are proving to be a successful minimally invasive therapy for Parkinson's patients, allowing manufacturers to acquire substantial market momentum in emerging markets. Over the projected period, the rising incidence of Parkinson's disease (PD) is expected to drive the growth of the brain health devices market. In order to give artificial control over brain activity, most hospitals and healthcare organisations are implanting brain implants in patients who are at risk of developing neurological problems. Furthermore, regulatory approvals for novel and improved brain health gadgets are projected to drive the market forward in the near future.
FutureWise Market Research has instantiated a report that provides an intricate analysis of Brain Health Devices Market trends that shall affect the overall market growth. Furthermore, it includes detailed information on the graph of profitability, SWOT analysis, market share and regional proliferation of this business. Moreover, the report offers insights on the current stature of prominent market players in the competitive landscape analysis of this market.
According to the research study conducted by FutureWise research analysts, the Brain Health Devices Market is anticipated to attain substantial growth by the end of the forecast period. The report explains that this business is predicted to register a noteworthy growth rate over the forecast period. This report provides crucial information pertaining to the total valuation that is presently held by this industry and it also lists the segmentation of the market along with the growth opportunities present across this business vertical.