The Global Wireless Brain Sensors market is projected to attain a CAGR of 10% during the forecast period. The growth of the market is attributed to rising incidences of stroke, TBI, dementia in the developed and developing countries, burgeoning adoption of high-quality wireless brain sensor for monitoring in hospitals and a surging number of people experiencing cerebrum related issue such as memory loss, confusion, etc. According to WHO, Traumatic Brain Injury is the 3rd leading cause of global mortality and disability by 2020. Besides this, the absence of skilled professional, poor healthcare facilities such as reimbursement policy in the developing and economically weak nation and the lack of proper advanced healthcare facilities is reducing the adoption of wireless brain sensor. Hence, this would further hamper the development of the market for wireless brain sensors.
Key questions answered in the study
Multi-speciality hospitals Accounted for Highest Market Share
According to the MarkNtel Advisors’ research report, “Global Wireless Brain Sensors Market Analysis, 2021”, the market is projected to grow at a CAGR of 10% during 2021-26. Based on End-User, the market is bifurcated into Research institutes, Multi-specialty Hospitals, Diagnostic Centers, Others. Multi-speciality hospitals acquired the highest market share in 2019. This is due to rising government investment in healthcare infrastructure development, burgeoning incidences of neurological disorders such as Parkinson's disease, TBI, and the growing popularity of multi-speciality hospitality due to the availability of advanced facility to provide better treatment to the patient. According to the Parkinson's Foundation, around 60,000 Americans diagnosed with Parkinson's disease every year. Along with this, it is estimated that nearly one million will be living with PD in the U.S. by 2020.
“Global Wireless Brain Sensors Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting the market growth, hotspots and opportunities available for Wireless Brain Sensors providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.
Asia-Pacific Registers Fastest Growth
Asia-Pacific registered the fastest growth in the Global Wireless Brain Sensors market in 2019. China and India acquired the majority share in the Asia-Pacific region. This is due to surging investment in R&D to make neuroscience research easier, boost in the number and advancement in clinical trials for brain monitoring products and increasing occurrences of road accidents. According to the National Crime Records Bureau (NCRB), around 4,37,396 road accidents were recorded across India in 2019. Besides this, the demand for wireless brain sensor witness robust growth in factories to surge the profitability and probability as the devices is used to monitor the employee’s emotions such as incidents of workplace rage, anxiety, and brain activity. Thus, this projected to place a lucrative opportunity for the growth of the Wireless Brain Sensors market in the forecast period as revealed by MarkNtel Advisors’ research report “Global Wireless Brain Sensors Market Analysis, 2021”.
According to MarkNtel Advisors, the major leading players in the global Wireless Brain Sensors market are EMOTIV INC., Muse, Advanced Brain Monitoring, INC., NeuroSky, NeuroElectrics, Neuronetrix Solutions, LLC (COGNISION), etc.