Wireless Brain Sensor Market: Increase in the number of patients suffering from brain related disorder to drive the market
28 Sep 2021
VaccineCollaborate
Wireless brain sensors are devices that help monitoring the temperature, detecting the intracranial pressure, and record brain signaling in the form of brain waves. The essential aim of this wireless brain sensor is of securing the person from emergency situations. The devices are primarily used for patients experiencing conditions such as sleep disorders, traumatic brain injury, dementia, Parkinson’s disease, and other neurological conditions. These devices aid in observing and monitoring the neurological deviations and provide support for improving the cognitive functionalities. Accessibility of these sensors is easy from a remote area through wireless connectivity and be integrated with smart phones, tablets and computers, consequently be monitored intermittently from a homecare environment, making the device more cost-efficient. Brown University based neuroengineers team has developed a fully rechargeable and implantable wireless brain sensor, having the capability of relaying broadband signals at real-time from up to hundred neurons in freely moving subjects.
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The wireless brain sensor market is expected to expand continuously and thus generating higher profit margin. According to Parkinson’s foundation, in U.S. by 2020, nearly one million will be living with Parkinson's disease, which is more than the combined number of people diagnosed with muscular dystrophy, multiple sclerosis and Lou Gehrig's disease (or Amyotrophic Lateral Sclerosis), and more than 10 million people worldwide are living with Parkinson's disease. As per World Health Organization (WHO), the annual incidence of traumatic brain injury accounts to 558 per 100,000 people in the USA, and it also accounts as the 3rd leading cause of global disability and mortality by 2020. Also, the number of people living with dementia worldwide is presently estimated at 47 million and is predicted to increase to 75 million in number by 2030. The number of cases of dementia are expected to almost triple by 2050.
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Key drivers of the wireless brain sensor market include increasing stress level, high prevalence of neurological disorders because of the changes in lifestyle, and severe variations in the social environments have collectively intensify the demand for wireless brain sensor market. Furthermore, the increase in the number of patients suffering from brain related disorder also fuel the growth of wireless brain sensor market. Notwithstanding, difficulty in understanding the functionality of product, compatibility issues, stringent safety and validation regulations, and compatibility issues are some of the reasons hampering the growth of the wireless brain sensors market.
The global wireless brain sensor market can be classified based on product type, as electroencephalography (EEG) devices, sleep monitoring devices, and accessories. On the basis of application, it can be segmented as epilepsy, dementia, parkinson’s disease, huntington’s disease, migraine, stroke, traumatic brain injuries, and sleep disorders. it can also be divided by end-users, as hospitals, research centers and others.
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Based on geography, the global wireless brain sensor market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America upholds major market share for wireless brain sensors because of higher research and development investments, increase in technological advancements, acceptability and accessibility to innovative technologies and widespread presence of wireless brain sensors industries. Europe lines second in this market due to increasing prevalence of neurological disorders and expanding research and development activities are responsible for the growth of Wireless Brain Sensor market. Asia Pacific Wireless Brain Sensor Market is witnessed with amplified growth rate mainly due to increasing prevalence of Parkinson disease as a result of aging of the population, government funding for research and development, and growing awareness regarding cure and treatment.
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Key players operating in the global wireless brain sensor market include EMOTIV, Muse, NeuroSky, Neuronetrix Solutions, LLC dba COGNISION, Neuroelectrics, Brain Products GmbH, Hangzhou Zhongheng Electric Co., Ltd., Advanced Brain Monitoring Inc., NeuroTherapeutics, Novo Nordisk A/S and others. In order to gain competitive advantage in the market, the key players are actively involved in various growth strategies such as agreements, partnerships and collaborations and new product developments.
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