Press Release

Wireless Brain Sensors Market Valued at USD 527.5 Million in 2023, Projected to Reach USD 1,013.8 Million by 2030

The Global Wireless Brain Sensors Market size was valued at around USD 527.5 million in 2023 and is anticipated to reach about USD 1,013.8 million by 2030. Along with this, the market is projected to grow at a CAGR of around 9.78% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in the recent research report. The growing cases of brain diseases worldwide, increasing awareness about brain health, and growing focus of the governments of the countries on the progression of neurological healthcare infrastructure have been assisting the growth & expansion of the Global Wireless Brain Sensors Industry in the past few years.

The growing cases of neurological diseases which include traumatic brain injuries (TBIs), dementia, depression, etc., throughout all age groups of the populace globally were pushing the demand for wireless brain sensors. These sensors support detecting and tracking the mind wave activities of an individual. Through the detection and tracking of mind wave activities, healthcare professionals have been capable of diagnosing and dealing with patients more effectively. Diseases like dementia, depression, TBIs, migraine, sleep problems, etc., have been increasing at a rapid pace, especially among the younger population of the age group (20-50). Thus, the demand for such medical systems has been steadily growing in healthcare institutions to treat patients.

Additionally, the increasing stress levels in the millennial and Gen Z population in line with their busy and imbalanced lifestyle, low workout activity levels, high consumption of junk & processed food, etc., is a severe cause of their slowly deteriorating brain health. Deteriorating brain health and the occurrence of issues such as sleep disorders, migraine, depression, strokes, etc., have been observed more in the young demographic in recent years. Hence, the need for more advanced treatment and therapy for the young generation is soaring across the globe, ultimately augmenting the growth & expansion of the Global Wireless Brain Sensors Market.

Furthermore, the rising government initiatives in the form of developing neurological healthcare infrastructure globally are expected to boost market growth in the coming years. Governments around the world are aiming to improve the facilities related to neurological disorders for their residents and thus have been actively investing to provide a comprehensive solution. For instance, in 2024, Luxembourg planned to invest more than USD 1.3 billion to increase its hospital infrastructure in the coming years. This includes the construction of a rehabilitation center at Neuro-Psychiatric Hospital Center in Luxembourg with an investment of nearly USD 17 million. Therefore, such booming healthcare infrastructure across the regions is anticipated to augment the demand for wireless brain sensors during the forecast period, further states the research report, “Global Wireless Brain Sensors Market Analysis, 2024.”

Global Wireless Brain Sensors Market Segmentation Analysis

Migraine Segment Holds the Largest Market Share

Based on the application, the market is further bifurcated into, Dementia, Epilepsy, Huntington's Disease, Migraine, Stroke, Parkinson's Disease, Sleep Disorders, Traumatic Brain Injuries, and Others (Multiple sclerosis, Depression, etc.). The necessity of proper treatment of migraine has growingly caught the attention of the patients suffering from it. Globally, migraines are generally misread as normal headaches and are not diagnosed and treated appropriately. As per WHO, on average annually about 40% of the global population suffers from headache disorders regularly. Most people ignore the symptoms and do not take the necessary treatment for it. However, the increasing awareness about headaches and migraine around the world by major associations and societies of the countries has pushed patients to undergo proper medical treatment, ultimately propelling revenue growth of this segment.

North America Leads the Wireless Brain Sensors Industry

Growing penetration of dementia cases both old-age and early-onset in the region has been a key factor driving the notable growth of the North America Wireless Brain Sensors Market. The women population being more susceptible to brain disorders in the region demands wireless brain sensors for treatment and continuous therapy. The astonishingly increasing cases of early-onset dementia highlight the need for enhanced treatment methods & procedures. Along with this the governments of Canada and the US have also been continuously supporting the development of neurology in the healthcare industry via funding for research & development, infrastructure development, etc. Such instances further indicate a steady growth of this region in the Global Wireless Brain Sensors Market in the coming years too.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including Emotiv Inc., InteraXon Inc. (Muse), NeuroSky, Masimo Corporation, Neuronetrix Solutions, LLC (Cognision), Advanced Brain Monitoring Inc., NeuroWave Systems Inc., Bit & Brain Technologies S.L., Neuroelectrics Barcelona S.L.U., Brain Scientific Inc. (Aditxt Inc.), Neuroelectrics Barcelona S.L.U., Bit & Brain Technologies S.L., Brain Vision LLC, CGX systems, HI LLC, DBA Kernel, Nihon Kohden Corporation, Cortech Solutions, Inc., Elemind, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the Globe?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across the regions?
6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?