Exploring Market potentials of Wearable Neuromodulation Devices

Recently, the U.S. FDA approved Neuralink to perform trials in humans. There has been a lot of debate on this decision-making process and data adequacy. However, the news has highlighted other existing similar products. We are working on a study to analyze the prospects of all wearable neuromodulation devices.

Currently, the widely adopted and most basic devices used to detect stress and monitor sleep are installed in smartwatches and fitness trackers. The next step to these modules is wearable EEG-like devices that do not just monitor some of the brain activities, but also help in modulating these basic functions such as sleep-inducing and relaxation or stress-relieving.

The scope of our report on these wearable neuromodulation devices includes mostly the headbands which are marketed for their sleep-inducing and de-stress functions. Special attention is given to the current adoption of OTC products and startups investing highly in data analysis to enhance efficiency and explore novel applications.

Topics covered in this study

Currently, Insai, MDCN TECH Ltd. (Omnipemf), Flowtime, Muse, HoomBand, and COVE are some of the major brands in this market. These devices are available as OTC products and pricing averages somewhere around USD 300.

Recently, these devices are marketed for extended applications such as meditation assistance, vitality, focus training, and creativity. Despite a subtle warning in fine print about the accuracy claimed in the advertisements, these devices continue to attract customers.