Globally, the market for neurofeedback system was priced at US$ 1,069.6 million in the year 2021 and is predicted to the extent of US$ 1,779.7 million by the end of the year 2028 at a CAGR of 7.6% from 2022 to 2028. The market for neurofeedback sysyem across the world is anticipating robust development owing to the rise in problem of neurogenerative diseases and rising prevalence of brain dysfunction across the world. Furthermore, rise in need for neurofeedback systems and increase in problem of attention deficit hyperactivity disorder is anticipated to fuel the market growth. Though, factors like time consuming techniques and neurofeedback system cost being high are anticipated to hinder the market growth.
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Global Market for Neurofeedback Systems: Regional Insights
On the basis of geography, the market for neurofeedback system across the world is divided into Asia Pacific, North America, Latin America, Europe and Middle East & Africa.
Amongst the region, North America is anticipated to have the major market share in the predicted period owing to the rising incidence of neurogenerative disorders such as Parkinson’s disease and Alzheimer’s disease and advancement in technology to monitor brain. For example, as per Alzheimer’s Association, the American people living with Alzheimer are increasing rapidly. Over 6 Mn Americans of various age groups have Alzheimer. The disease of Alzheimer is an advanced neurologic disorder that results in shrinking of brain called atropy, and death of brain cell occurs. This is pushing the market growth in this region.
Europe is anticipated to experience strong development in the market of neurofeedback system across the globe owing to the rise in incidence of disorders in brain and increasing elderly population in this region. For example, as per Parkinson’s Europe, there are at present about 1.2 Mn people having PD (Parkinson’s disease) in the region of Europe and the figure is predicted to get doubled by the end of the year 2030. PD is more a condition that changes from person to person which needs a custom-made tactics in treating and taking care. Parkinson’s Europe i.e., the European Parkinson’s Disease Association or EPDA is the only organization in Europe for European Parkinson’s.
Global Market for Neurofeedback Systems Drivers
Increase in problem of neurogenerative diseases to support growth of the market
The main factor anticipated to increase the market growth of the neurofeedback system worldwide is the rise in prevalence of neurogenerative disease worldwide. For example, as per WHO (World Health Organization) in the year 2021, over 55 Mn were facing problems of dementia globally, and there are more than 10 Mn new cases each year. Alzheimer’s is generally the type of dementia common among the people and sometimes add to 60-70% cases. Therefore, with the rise in incidence of these disorders, the market is also increasing very fast.
Increasing burden of brain dysfunction to augment market growth
The other factor which is pushing the market growth of the neurofeedback systems worldwide in the predicted period is the rising prevalence of dysfunctioning of the brain globally. The system of neurofeedback is used in treating several dysfunction of the brain like epilepsy, anxiety disorder and others. Myndlift in September 2022 completed a retrospective study with the use of real-world data that provides initial efficiency of isolated NFT (Neurofeedback Therapy) on advanced mental health consequences from a total of 593 participants, secondary disorders like anxiety, attention-deficit/hyperactivity disorder and depression.
Global Market for Neurofeedback Systems Opportunities
Rising in need for system in neurofeedback system worldwide is anticipated to offer substantial opportunities for companies’ growth in the worldwide for the market of neurofeedback system. For example, with the rising problem of neurological disorders, the application of neurofeedback is also rising at an increased pace. Myneurva in August 2022 announced the introduction of Starrbase which is an entirely integrated system of its ANNA (Advanced Neural Network Analysis). The company provides a Quantitative Electroencephalogram and Neurofeedback based on concierge, having a internet connection worldwide. This is pushing the growth of the market.
Rise in problem of ADHD (Attention Deficit Hyperactivity Disorder) is anticipated to provide profitable opportunities of growth for the companies in the market of neurofeedback system across the globe. For example, many studies exhibit the efficiency of the system of neurofeedback for Attention Deficit Hyperactivity Disorder, signifying a rising demand in adopting the systems for the aforesaid disorder. For example, as per NIHR Maudsley Biomedical research Centre, a study issued on May 2020 directed to Medical Research Council investing GBP 1.3 Mn for conducting a large trial consisting of 100 children with Attention Deficit Hyperactivity Disorder, in comparing Fmri-neurofeedback to the placebo which has no relation to their own activity of brain.
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Global Market for Neurofeedback Systems Trends
Advancement of Technological is a new trend
Advancement in technology and its increasing usage in the healthcare division are leading the way to develop new products. Therefore, companies operating are emphasizing on the launch and development of new products in the market. Furthermore, the increasing problem of neurological dysfunction globally and rising need for advanced products in accordance to the neurological disorder in the predicted period are anticipated to fuel the market. This is anticipated to last in the predicted period, pushing the market growth.
Increasing consciousness amongst people is the other fashion
The disease of Alzheimer’s is the common type of dementia among the adults of elderly people. Whereas, Parkinson’s disease ranks as second most common disease as per advanced neurodegenerative disease and is predominant globally. Therefore, it is important to have knowledge about these disorders. Alzheimer’s Association each year in June promotes neurodegenerative disease at the time of Alzheimer’s & Brain Awareness Month while, April is considered as the Parkinson’s disease Awareness Month. The trend is anticipated to last in the predicted period, pushing the market growth.
Global Market for Neurofeedback Systems Restraints
Time consuming techniques to hamper the growth of the market
The main factor anticipated to hinder the market growth of the neurofeedback system worldwide is more consumption of time techniques. The technique of neurofeedback aids in controlling the brain wave and the medical devices, i.e., the neurofeedback system, that assist the subject to intentionally control the brain, but the technique is very much time-consuming. This is anticipated to have adverse effect on the market growth of the neurofeedback system worldwide.
High neurofeedback system’s cost to hinder the growth of the market
The other factor which is hindering the market growth of the system of neurofeedback worldwide is the high neurofeedback system’s cost. The technique of neurofeedback system aids the subject in controlling the brain wave intentionally and the medical devices, i.e., the neurofeedback system, that helps the subject to intentionally control the brain, but the devices are very expensive. This is anticipated to have adverse effect on the market growth.
Global Market for Neurofeedback Systems Segmentation
Globally, the market report for neurofeedback system worldwide is divided into Application and Geography.
On the basis of application, the market is divided into Pain Management, Anxiety Disorder, Attention Deficit Hyperactivity Disorder (ADHD), Insomnia and other diseases. Among which, the market of ADHD (Attention Deficit Hyperactivity Disorder) is anticipated to control the market in the predicted period and this is credited to the increase in incidence of Attention Deficit Hyperactivity Disorder(ADHD), since the need for systems in neurofeedback for analysis and treatment of Attention Deficit Hyperactivity Disorder (ADHD)is also augmenting.
The segment of Pain Management is anticipated to experience substantial growth in the coming future and this due to rise in application of neurofeedback systems in the management. The system focusses on altering the activity of the brain which is meant to influence the pain experience.
Global Market for Neurofeedback Systems :Key Developments
Sens.ai in October 2021 intended to introduce its wearable headset in treating stress by means of measurement variability of the heart rate. The system trains and excites the central nervous system by audio-visual signals and therapy of light with real-time reading and adjustment of heart activity and brain activity. It aids in soothing the nervous system and thereby facilitating to have sound sleep and building up of memory capacity.
NeuroWave System in September 2021 got consent from the FDA (Food and Drugs Administration) for NeuroSENSE NS -901 Monitor. It is a monitor for brain functioning and tio evaluate the competency of anesthesia and sedation in medical settings and monitoring the brain’s state in patient who are anesthetized with age 18 years and more.
AlphaBeats in December 2020 got a funding from LUMO laboratory in developing a system that unites the technology of neurofeedback with music in reducing stress effects. The technology aids analyzing real-time activity of brain in adjusting the music to bring the brain to relaxed state from stress.
Global Market for Neurofeedback Systems: Key Companies Insights
Across the word, the market for neurofeedback system is very much aggressive. This accredited to the rise in the problem of neurological disorders, consequently, companies operating are emphasizing on growth and introduction of new products in the market.
The main companies operating in the market of neurofeedback system worldwide includes Neurocare Group AG, Bee Medic Gmbh, Thought Tech Ltd., and Mind Media BV, among others.
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Table of Content
Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Neurofeedback Systems Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Neurofeedback Systems Industry Impact
Chapter 2 Global Neurofeedback Systems Competition by Types, Applications, and Top Regions and Countries
2.1 Global Neurofeedback Systems (Volume and Value) by Type
2.3 Global Neurofeedback Systems (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Neurofeedback Systems Sales, Consumption, Export, Import by Regions (2017-2023)
Chapter 5 North America Neurofeedback Systems Market Analysis
Chapter 6 East Asia Neurofeedback Systems Market Analysis
Chapter 7 Europe Neurofeedback Systems Market Analysis
Chapter 8 South Asia Neurofeedback Systems Market Analysis
Chapter 9 Southeast Asia Neurofeedback Systems Market Analysis
Chapter 10 Middle East Neurofeedback Systems Market Analysis
Chapter 11 Africa Neurofeedback Systems Market Analysis
Chapter 12 Oceania Neurofeedback Systems Market Analysis
Chapter 13 South America Neurofeedback Systems Market Analysis
Chapter 14 Company Profiles and Key Figures in Neurofeedback Systems Business
Chapter 15 Global Neurofeedback Systems Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology
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