Chicago, Feb. 28, 2023 (GLOBE NEWSWIRE) -- The future of the brain monitoring industry is expected to be very exciting. With the rapid advancements in technology and the growth of artificial intelligence (AI), the industry is likely to experience a massive influx of new products and services. In the near future, the brain monitoring industry is expected to become increasingly focused on using advanced technology to detect, diagnose, and treat neurological conditions such as epilepsy, dementia, and depression. AI is expected to play a major role in the industry, as it provides the potential to make medical diagnoses more accurate, efficient, and cost-effective. AI-powered monitoring technologies are also expected to improve the accuracy of brain imaging and reduce the amount of time necessary for diagnosis. Moreover, the development of AI-driven devices, such as brain-computer interfaces, could revolutionize the way in which neurological conditions are managed.
Brain Monitoring market in terms of revenue was estimated to be worth $5.8 billion in 2021 and is poised to reach $8.0 billion by 2026, growing at a CAGR of 6.5% from 2021 to 2026 according to a latest report published by MarketsandMarkets™. The brain monitoring market is mainly driven by factors such as the increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, growth in the number of traumatic brain injuries, and growing applications of brain monitoring in clinical trials. On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.
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Brain Monitoring Market Scope:
| Report Coverage | Details |
| Market Revenue in 2021 | $5.8 billion |
| Estimated Value by 2026 | $8.0 billion |
| Growth Rate | Poised to grow at a CAGR of 6.5% |
| Market Size Available for | 2019-2026 |
| Forecast Period | 2021–2026 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Medical Condition, End User and Region |
| Geographies Covered | North America (US and Canada), Asia (Japan, China, India, and RoA), Europe (Germany, UK, France, Spain, Italy, and RoE), and the Rest of the World (Latin America, Middle East&Africa) |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunity | The increasing demand for non-invasive and minimally invasive devices |
| Key Market Drivers | Increasing incidence and prevalence of neurological disorders |
Notable Brain Monitoring mergers and acquisitions for 2021 – 2022 include:
- Philips acquires Nocira, a digital health company focused on EEG-based brain monitoring.
- Johnson & Johnson acquires NeuroVia, a brain monitoring and analytics platform.
- Medtronic acquires NeuroPace, a brain monitoring and stimulation device maker.
- Abbott Laboratories acquires Telcare, a brain monitoring and digital health platform.
- Hill-Rom acquires NeuroMagnetics, a brain monitoring and diagnostics company.
- BrainScope acquires Neuronetrix Solutions, a brain monitoring and diagnostics device maker.
- Siemens Healthineers acquires CorTechs Labs, a brain monitoring and analytics platform.
- GE Healthcare acquires OBS Medical, a brain monitoring and diagnostics device maker.
- Brainlab acquires NeuroVista, a brain monitoring and diagnostics company.
- ZOLL Medical acquires BrainScope, a brain monitoring and diagnostics device maker.
Growth Drivers of Brain Monitoring Market from Macro to Micro:
Macro Level:
- Increasing prevalence of neurological disorders: Neurological disorders such as Alzheimer’s disease, Parkinson’s disease and epilepsy are on the rise worldwide. The growing prevalence of these conditions is driving the demand for brain monitoring devices.
- Technological advancements: Technological advances in brain monitoring devices such as EEG, fMRI, and MEG are allowing for more accurate and efficient diagnosis of neurological diseases and disorders. This has resulted in increased demand for these devices.
- Growing awareness about brain monitoring devices: The increasing awareness of the benefits of brain monitoring devices is driving their adoption and driving the growth of the market.
Micro Level:
- Expansion of healthcare infrastructure: The expansion of healthcare infrastructure in developing countries, such as India and China, is driving the growth of the brain monitoring market.
- Increasing government initiatives: Government initiatives to promote the use of brain monitoring devices is also driving the market’s growth.
- Growing investments in research and development: Growing investments in research and development for the development of new and improved brain monitoring devices is driving the growth of the market.
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Hypothetic Challenges of Brain Monitoring Market in Near Future:
- Lack of Adequate Technology: There is a lack of adequate technology to monitor brain activity and provide accurate results in a timely manner. This could hinder the growth of the market in the near future.
- Cost: Brain monitoring technology is expensive and might not be affordable for many people. This could limit the number of people who are able to take advantage of the technology.
- Ethical Considerations: Brain monitoring technology has the potential to raise ethical questions, such as privacy concerns and the potential for misuse. This could create a barrier for the adoption of the technology.
- Lack of Standardization: There is a lack of standardization in the brain monitoring market which could create confusion among users. This could lead to inaccurate results and cause people to mistrust the technology.
- Security: Brain monitoring technology is vulnerable to cyber-attacks which could lead to data breaches. This could reduce the trust in the technology and limit the market’s growth.
Top 3 Use Cases of Brain Monitoring Market:
- Neurological Disease Diagnostics: Brain monitoring is used to diagnose neurological disorders such as epilepsy, Parkinson’s disease, Alzheimer’s Disease, and traumatic brain injury. This is done by recording electrical activity in the brain and analyzing it for abnormalities.
- Mental Health Monitoring: Brain monitoring is used to monitor the mental health of individuals and detect any psychological issues that may be present. This is done by studying the brain’s electrical activity and analyzing it for any changes that could indicate a problem.
- Sports Performance: Brain monitoring is used to measure and track the performance of athletes in order to identify areas of improvement. This is done by studying the brain’s electrical activity and analyzing it for any changes that could indicate a need for further training or improvement.
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