Wireless Brain Sensor Market Size & Growth Analysis to 2030

The global wireless brain sensor market size is expected to experience a significant CAGR of over 9% during the forecast period and estimated to reach around USD 800 million by 2027. The rising prevalence of stroke and migraine across the globe is one of the prominent factors to drive the market growth. As per the citied by the Centers for Disease Control and Prevention (CDC), over 795,000 people have stroke condition in the United States every year. Stroke is a leading cause of long-term serious disability in the U.S. due to unhealthy lifestyles such as higher consumption of alcohol and smoking.

Furthermore, the increasing cases of traumatic brain injuries are further expected to boost the market growth over the forecast period. The increasing sports activities, recreational activities, and the increasing number of road accidents have resulted in a significant increase in traumatic brain injuries across the globe which is further expected to fuel the market growth. According to the World Health Organization (WHO), around 1.3 million people die every year due to road accidents globally.

Market Drivers:

Increasing Prevalence of Neurological Disorders: The rising prevalence of neurological disorders, such as epilepsy, Alzheimer’s disease, Parkinson’s disease, and stroke, drives the demand for wireless brain sensors. These sensors play a crucial role in monitoring brain activity, detecting abnormalities, and providing real-time data for diagnosis, treatment, and disease management.

Advancements in Neurotechnology: Rapid advancements in neurotechnology have led to the development of wireless brain sensors with improved accuracy, sensitivity, and miniaturization. These sensors can wirelessly transmit brain signals, enabling non-invasive and real-time monitoring of brain activity. The continuous innovation in sensor technology enhances their functionality and usability, driving the market growth.

Research and Development Initiatives: Increasing research and development initiatives focused on understanding brain function, cognitive processes, and brain-computer interfaces contribute to the demand for wireless brain sensors. Researchers and scientists use these sensors to collect data for studying brain activity, conducting experiments, and developing novel therapies and treatments for neurological disorders.

Growing Demand for Personalized Medicine: The shift towards personalized medicine and individualized healthcare creates a demand for wireless brain sensors. These sensors provide valuable data for personalized diagnosis, treatment optimization, and monitoring patient response to therapies. Wireless connectivity enables remote monitoring and data transmission, enhancing patient care and treatment outcomes.

Technological Advancements in Wireless Connectivity: The advancement of wireless connectivity technologies, such as Bluetooth, Wi-Fi, and mobile networks, enables seamless data transmission from wireless brain sensors to monitoring systems or mobile devices. This wireless connectivity improves patient mobility, comfort, and convenience, leading to increased adoption of wireless brain sensors in clinical and research settings.

Growing Aging Population: The global aging population is driving the demand for healthcare solutions that cater to the specific needs of elderly individuals. Wireless brain sensors can assist in monitoring cognitive decline, identifying early signs of neurodegenerative diseases, and providing insights for personalized care and intervention plans for the aging population.

Increasing Focus on Brain-Computer Interfaces: Brain-computer interface (BCI) technology has gained significant attention in recent years. Wireless brain sensors are a critical component of BCI systems, allowing direct communication between the brain and external devices. The potential applications of BCIs in healthcare, assistive technologies, and communication drive the demand for wireless brain sensors.

Demand for Non-Invasive Monitoring Techniques: Wireless brain sensors offer non-invasive monitoring of brain activity, eliminating the need for invasive procedures and reducing patient discomfort. This non-invasive approach enhances patient compliance, improves safety, and expands the potential applications of brain monitoring in various clinical settings.

Increasing Investment in Healthcare Technology: The growing investment in healthcare technology and neurology research contributes to the development and commercialization of wireless brain sensors. Funding from governments, research institutions, and private investors supports the advancement of sensor technologies, leading to increased market adoption.

Rising Awareness and Acceptance: Increasing awareness and acceptance of wireless brain sensor technology among healthcare professionals, patients, and caregivers drive market growth. As the benefits of wireless brain sensors become more widely recognized, their adoption is likely to increase in both clinical and research settings.

Market Snapshot:

Market Insights:

The global wireless brain sensors market is bifurcated into product, application, end-use, and geography. On the basis of product, the market is further segmented into EEG devices, TCD devices, sleep monitoring devices, ICP monitors, and others. The electroencephalography device segment dominated the global market in 2020 and is expected to hold the largest market share of over one-third percent of the market by the end of the analysis period. The increasing cases of stroke, traumatic brain injuries, and migraine is major factor to drive the segment growth. According to the Centers for Disease Control and Prevention (CDC), in 2018, around 223,050 new cases were found as Traumatic Brain Injuries in the United States.

By application, the global wireless brain sensor market is segmented into dementia, epilepsy, parkinson’s disease, traumatic brain injuries, and others. The traumatic brain injuries segment is expected to register the highest growth rate over the forecast period. The growing sports and recreation activities, an increasing number of road clashes, and other accidental conditions have resulted in significant growth in traumatic brain injuries. This is estimated to drive the segment growth. On the other hand, the others segment dominated the global market in 2020. The rising prevalence of sleep disorders, stroke, and migraine are some of the major factors to fuel the others segment over the forecast period.

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The wireless brain sensor comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The wireless brain sensor market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Product:

• Electroencephalography (EEG) Devices
• Sleep Monitoring Devices
• Intracranial Pressure (ICP) Monitors
• Transcranial Doppler (TCD) Devices
• Others

By Application:

• Dementia
• Epilepsy
• Parkinson’s Disease
• Traumatic Brain Injuries
• Others

By End-Use:

• Multispecialty Hospitals
• Research Institutes
• Others

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage:

Geographically, North America dominated the global wireless brain sensor market in 2020 and accounted to hold the largest market share of over 40% of the market. The increasing cases of traumatic brain injuries, well-structured healthcare infrastructure, and unhealthy lifestyles are some of the major factors to drive the market growth in the region. Furthermore, the technological advancement and the presence of some major players are further expected to boost the market in North America. On the other hand, the Asia Pacific is expected to register a significant growth rate over the forecast period.

Competitive Assessment:

Some of the major market players operating in the global wireless brain sensor market are EMOTIV Inc., InteraXon Inc., Advanced Brain Monitoring, Inc., Neuroelectrics Corporation, and Neurosky, Inc. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• EMOTIV Inc.
• InteraXon Inc.
• Advanced Brain Monitoring, Inc.
• Neuroelectrics Corporation
• Neurosky, Inc.
• Neuronetrix Solutions
• Evolent Health, Inc.
• Deayea Technology Co., Ltd.
• Hangzhou Zhongheng Electric Co., Ltd.
• NeuroTherapeutics Pharma, Inc.

Key Questions Answered by Wireless Brain Sensor Market Report

• Global wireless brain sensor market forecasts from 2021-2027
• Regional wireless brain sensor market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Wireless brain sensor submarket forecasts from 2021-2027 covering the market by product, by application, by end-use, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about wireless brain sensor market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level wireless brain sensor markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the wireless brain sensor market