The global wearable brain devices market size is anticipated to reach USD 668.5 million by 2030, registering a CAGR of 12.33%, according to a new report by Grand View Research, Inc. The increasing prevalence of neurological disorders and the growing government initiatives across the globe are expected to drive the growth of the market.
The COVID-19 pandemic has created a significant challenge for the global healthcare industry. The influence of wearable brain products is twofold. Hospitals and clinics are increasingly requesting the use of these devices to track neurology-related problems in COVID-19 patients. However, the market expansion is hampered by problems such as the disruption of the medical supply chain, delayed production, and a restricted workforce. Nonetheless, the demand for these devices during such critical periods, as well as the need to deliver effective therapy, will outweigh the aforementioned limitations.
During the forecast period, technological advancements are expected to be a crucial driver for the growth of the market. For instance, in March 2021, the Food and Drug Administration approved Neurolief's Relivion device. Relivion is a multi-channel non-invasive brain neuromodulation system designed for at-home treatment of acute migraine, a devastating neurological illness that results in 1.2 million emergency room visits every year and affects 39 million people globally.
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By channel type, the 32-channel type accounted for the largest market share of 34.33% in 2021. This is attributed to technological advancements and high adoption by healthcare professionals
Based on the application, the epilepsy segment dominated the market with around 33.80% of the revenue share in 2021. This is due to the increasing prevalence of epilepsy, and the high efficacy exhibited by wearable brain devices in treating epilepsy
Based on end-user, the neurology centers segment captured the largest market share of around 20.79% in 2021. The growth of this segment can mainly be attributed to the consequent rise in surgical procedures
Asia Pacific is expected to witness the fastest CAGR of 13.97% over the forecast period. Expansion of private hospitals and neurology centers in rural areas will drive the regional market growth
Grand View Research has segmented the global wearable brain devices market based on channel type, application, end-user, and region:
Wearable Brain Devices Channel Type Outlook (Revenue, USD Million, 2017 - 2030)
32-Channel Type
12-Channel Type
14-Channel Type
5-Channel Type
Multichannels
Others (9, 8, etc.)
Wearable Brain Devices Application Outlook (Revenue, USD Million, 2017 - 2030)
Medical Setting
Epilepsy
Sleep Disorders
Parkinson’s Disease
Traumatic Brain Injury (TBI)
Alzheimer’s
Other
AR/VR Gaming Settings
Others
Wearable Brain Devices End-user Outlook (Revenue, USD Million, 2017 - 2030)
Hospitals & Clinics
Neurology Centers
Ambulatory Surgery Centers (ASCs)
Diagnostic Centers
Transportation and Construction
Research and Academics
Homecare Settings
Intensive Care Units
Assisted Living Facilities
Athletes and Military Personnel
Others
Wearable Brain Devices Regional Outlook (Revenue, USD Million, 2017 - 2030)
North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Russia
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Brazil
Mexico
Argentina
Colombia
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
List of Key Players of Wearable Brain Devices Market
Kernel
EMOTIV
Neurolief
Brain Scientific
BioSerenity
mBrainTrain
Brain Products
COGNIONICS, INC.
Bitbrain Technologies
Dreem
BrainCo Inc.
NextMind
Cadwell Industries Inc.
Neuroelectrics
Others
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