The global Wireless Brain Sensors Market size is expected to grow at an 10.2% CAGR during the forecast period.
Wireless brain sensors are biomedical sensors that detect intracranial pressure, monitor the brain temperature, and, most importantly, record brain signaling through the form of brain waves. For patients with conditions such as sleep disturbances, Parkinson's disease, traumatic brain injury, dementia, and other psychological conditions, wearable brain monitors are often used. Such sensors help track neural variations and help enhance cognitive functionality. The continuous development of brain electrodes has led to major technical developments in brain-computer interfaces. The sensors that are commercialized currently are remotely accessible through wireless connectivity with the help of smartphones, tablets, or computers. Some of the common and cost-efficient wireless brain sensors that are available in the market are electroencephalography devices, transcranial doppler devices, sleep monitoring devices, and others.
High-frequency of brain-related disorders due to increased stress levels and change in lifestyle has been a crucial factor driving the wireless brain sensor market. Brain disorders, which generally refers to a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of deaths globally. Additionally, drastic variations in the social environments have cumulatively amplified the demand for products from the wireless brain sensors market.
The rising number of patients suffering from brain-related disorders has fueled the expenditure on research and development regarding the same. According to the Parkinson's Foundation, by 2020, almost one million people in the United States will be living with Parkinson's disease, which is more than the total number of people diagnosed with muscular dystrophy, multiple sclerosis, and Lou Gehrig's disease (or Amyotrophic Lateral Sclerosis), and overall, globally more than 10 million people are living with Parkinson's disease. Also, the rise in the incidence of other common brain-related disorders has kept the driving forces dominant.
There has been a significant rush for innovation and safer product development in the wireless brain sensors market. Implantation of sensors in the brain, as well as the safety concerns associated with the use of these sensors, has called for innovation and advancements. Coming to the rescue, recent advancements have resolved such discrepancies and influenced the consumer's concerns, therefore driving the market. In 2016, researchers also developed a biocompatible brain implant that can monitor brain injury completely. Further, the device is capable of complete dissolution into the surrounding soft tissue after the requirement gets over. These sensors are made of green electronic natural materials that are fully biodegradable and biocompatible. These are designed to work smaller time duration (e.g., a few weeks) and then completely dissolve into the cerebrospinal fluid over the course of about a day when immersed. For safety concerns, in animal testing phases, no inflammations were located, conforming to the complete biocompatibility of the device.
A crucial factor responsible for the large share of the traumatic brain injuries segment is the growing incidence of TBIs across the globe. For instance, as per the American Association of Neurological Surgeons, statistically, about 1.7 million cases of TBI occur in the United States every year, followed by approximately 5.3 million people live with a related disability in the United States itself. This has led to high and continuously rising demand for the management of these cases, thus requiring the intensive use of brain sensors and related devices. Thus, the increasing prevalence of the TBI is boosting the usage of wireless brain sensors and ultimately increasing the market growth as more and more people seek the availability of innovative portable and wearable home-based monitoring devices.
Based on end-users, the hospital segment held the largest share of the global brain monitoring market in 2019. Brain monitoring through varied sensors is a complicated procedure that involves costly and sophisticated equipment and instruments that are used mostly in hospitals. Compared to small clinics and other end-users, hospitals often have a much higher inflow of patients. In addition, brain monitoring systems pose a significant burden in terms of healthcare facility maintenance costs; hospitals can bear these costs more than most end-users.
On account of the rising cases of brain injuries, neurological disorders, and other related disorders, North America dominates the wireless brain sensor market. As per the World Health Organization (WHO), the annual incidence of traumatic brain injury is roughly summed up to 558 per 100,000 people in the USA, and it also accounted as the 3rd leading cause of global disability and mortality by 2020. Moreover, the dominating share can be attributed due to the increasing investments in product development. Growing investment in R&D and technological innovation is expected to increase the demand for wireless brain sensors in the area. According to Health Union, LLC., roughly around 1 million Americans are living with Parkinson’s disease, and approximately 60,000 Americans are diagnosed with the disease each year. This has fueled the market demand and promoted the key players to R&D innovative products aimed to fill the gap in the product supply as well as a safer range of product portfolio. In addition, well-established insurance plans and the availability of advanced healthcare facilities are some of the other factors in this area that continue to boost the market.
The growth of the neurology monitoring devices market in Europe can be attributed to the increasing incidence of neurological disorders in the region. According to the European Commission Brain Research division, around 165 million Europeans are living with a brain disorder. Further, It is estimated that 1 in 3 people is expected to suffer from either neurological or psychiatric disorder or both eventually in their lives. Additionally, the growing geriatric population in the region is anticipated to boost the market scope and create opportunity pockets in the region. As per the 2017 World Aging population report by the United Nations, the population aged 60 years or above comprises 23.9% of the population in the United Kingdom and is expected to rise up to 31.5% by 2050. As a result, the prevalence of brain-related disorders like Parkinson’s disease, are also expected to rise. This will increase the demand for brain sensors and monitoring devices in the coming future, which will help the market growth.
Report Metric | Details |
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CAGR | 10.2% |
Forecast Period | 2023-2031 |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
Segments Covered |
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Geographies Covered |
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