Brain Monitoring Market Growth and SWOT Analysis Forecast
The Brain Monitoring Market report presents the industry sales and revenue by companies, regions, type and application and forecast to 2028. This report also studies the market status, competition landscape, market share, growth rate, future trends, market drivers, opportunities and challenges, sales channels, distributors and Porter’s Five Forces Analysis.
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Brain monitoring is a technology that allows physicians to monitor brain activity with the use of specialized equipment. It involves the use of a head-worn device like a cap that has sensors in it and can read brain’s electrical activity. This information is then interpreted by equipment’s computer program. The data is then interpreted by the relevant personnel for analysis purposes. Moreover, brain monitoring devices help identify and measure abnormality in the functioning of the brain cells that are linked with neurological disorders such as Parkinson’s, Alzheimer’s, epilepsy, multiple sclerosis, dementia, brain tumor, sleep disorder, and more. With increasing prevalence of aforementioned disorders, the demand for brain monitoring is also increasing.
According to the Alzheimer’s Association, more than 6 million people of all ages in the United States have Alzheimer’s, and this number is projected to rise to nearly 13 million by 2050. Moreover, in 2021, Alzheimer’s and other dementias will cost the nation US$ 355 billion. This in turn is expected to augment the growth of the brain monitoring market, especially in the U.S. There are many different methods to go about capturing information on brain structures and functions. The three most common and most frequently used measures are Magnetic Resonance Imaging (fMRI), electroencephalography (EEG), and magnetoencephalography (MEG).
Brain monitoring such as blood flow, electrical and neural activity, pressure surrounding the brain, gravity adjoining the brain, tumor, traumatic brain injury, cerebral oxygen capacity, and other conditions can help prevent serious consequences. Brain disease incurs great costs to treat, with the risk of death due to a high complication in some neurological conditions. Thus, early diagnosis and regular health check-ups are recommended to avoid such complications. This in turn is also expected to accelerate the growth of the brain monitoring market. In May 2020, Naxon Labs launched Explorer: a cheap and useful tool and neuro feedback system for professionals in the fields of Engineering and IT, Neuroscience, and Medicine.
The burden of neurological disease is particularly high in emerging economies, resulting in renewed efforts by both government and non-government agencies to tackle this burden. This creates highly lucrative opportunities for players in the brain monitoring market. For example, in December 2019, Raumedic launched a new home use device, named Raumed Home ICP, for intracranial pressure (ICP) monitoring. The product was developed for patients suffering from hydrocephalus, a condition in which excessive amounts of cerebrospinal fluid (CSF) is accumulated in the brain. The device has recently received CE marking. This in turn is expected to drive the growth of the brain monitoring market in Europe.
Top Key Players Include In Brain Monitoring Market: BrainScope Company, Inc., Neural Analytics, GE Healthcare, InfraSacn, Inc., Elekta A.B., Siemens Healthineers, Philips Healthcare, Natus Medical, Medtronic, Neurosoft Limited, and Cadwell Laboratories.
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