Global Wireless Brain Sensors Market Research Report: Forecast (2024-2030)

 Market Definition

Wireless brain sensors are devices that can detect the pressure, temperature, pH of the brain, and brain activity also known as brain waves. They allow users to do normal activities without being connected by a cable to an analyzer. These wireless sensors are easy to use and help patients monitor their brain activity even outside healthcare institutions.

Market Insights & Analysis: Global Wireless Brain Sensors Market (2024-30):

Global Wireless Brain Sensors Market size was valued at around USD 527.5 million in 2023 and is projected to reach around USD 1,013.8 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 9.78% during the forecast period, i.e., 2024-30. The global wireless sensors industry is expected to continue to grow primarily due to factors such as increasing neurological disorders globally, surging cases of traumatic brain injuries, as well as the introduction of new and advanced brain sensor headbands & headsets, etc. In recent years, the prevalence of neurological disorders has increased throughout the globe. This is due to a rise in cases of stress levels, an increasing number of fatal accidents, etc. which is leading to the demand for advanced versions of wireless brain sensors for monitoring and treatment purposes.

As per the World Health Organization (WHO), almost 33% of the global population is suffering from neurological ailments. This is also due to the soaring hectic lifestyle and busy work culture of individuals especially millennials, and Gen Z, and is leading to issues such as lack of sleep and thus raising stress levels. This lack of sleep, continuous piling of stress, and frequent cases of depression are causing more damage to the brain, compelling individuals to adopt these wireless brain sensor headsets to help them monitor their brain activity. Further augmenting the size & volume of the wireless brain sensors industry across the globe.

Moreover, as the consumer demand for new and innovative wireless brain sensors is increasing, the need for user-friendly solutions that offer greater mobility and comfort also increases. Thus, leading companies such as Muse, Elemind, Neuphony, Mindtooth, etc., have launched new and advanced versions of wireless brain sensors such as headbands or helmets. For instance,

• In 2024, Elemind launched its new version of a wireless brain sensor setup called “neurotech headband” which aims to suppress alpha waves to help induce sleep.

Thus, due to the demand for such innovative solutions, there are continuous developments and advancements in technology from various companies which is expanding the potential applications of Brain Computer Interfaces (BCIs) in consumers across the globe. These innovations are fostering wireless brain sensor industry growth.

Global Wireless Brain Sensors Market Driver:

Surge in Cases of Traumatic Brain Injuries (TBIs) Globally –  The rising neurological problems throughout the globe mainly due to rising numbers of traumatic brain injuries from an increasing number of fatal road accidents have been creating demand for wireless brain sensors. For instance, as per research studies, traumatic brain injuries have been a major reason for life losses and disability globally. Also according to WHO, between 20 and 50 million or more people suffer non-fatal neurological injuries leading to disabilities. The individuals suffering from these diseases undergo frequent diagnosis & treatment, supporting the increasing demand in the market. These traumatic brain injuries further potentially result in conditions like Paralysis, Parkinson's and Alzheimer’s, etc., leading to a constant demand for wireless brain sensors for treatment and post-treatment monitoring & therapy purposes. This has resulted in a steady surge in the market size and is expected to be in the same trend during the forecast period as well.

Global Wireless Brain Sensors Market Opportunity:

Rising Government Initiatives Towards Brain Health to Offer Lucrative Growth Opportunities – Growing awareness about ‘Brain Health’ and not only ‘Human Health’ in recent years around the world has been pushing national governments across the globe to take strategic actions to improve the brain health of their residents. The increasing cases of brain strokes, cancers, depression, and traumatic injuries amongst all age groups of the population have instigated the implementation of various initiatives by the medical authorities along with the national governments across the globe.

Moreover, the surging rate of old-age dementia and the growing chances of old-age dementia in the young population is further stimulating the need for research & development for better treatment and therapy technology as well as more prevalence of brain health clinics. Germany’s Brain Plan Agenda, 2030, Canada’s renewed funding for the Brain Canada Foundation, Indian state Karnataka’s Brain Health Initiative, etc., have been announced in recent years to promote better brain health. These initiatives are anticipated to create growth opportunities for the top companies in the coming years.

Global Wireless Brain Sensors Market Challenge:

Biocompatibility Issues to Hinder Market Growth & Expansion – Biocompatibility of the sensors with the human body is highly necessary. The implantation of wireless sensors in the human body in many cases has a risk of triggering the immune system and its functioning. The sensors if not compatible with the body often cause inflammation, infection, etc. These issues not only impact the operations of the sensors leading to improper data collection but also the health of a human due to the non-acceptance of a non-compatible element. Such factors limit the adoption of wireless brain sensors amongst patients and thus negatively affect the growth & development of the Global Wireless Brain Sensors Market.

Global Wireless Brain Sensors Market (2024-30): Segmentation Analysis

The Global Wireless Brain Sensors Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. Based on the analysis, the market has been further classified as:

Based on Application:

• Dementia
• Epilepsy
• Huntington's Disease
• Migraine
• Stroke
• Parkinson's Disease
• Sleep Disorders
• Traumatic Brain Injuries
• Others (Multiple sclerosis, Depression, etc.)

Amongst them all, migraine segment has captured the largest share of the market in the past few years. The increasing cases of migraine across the globe and the unawareness about the exact reason and symptoms of migraine have been pushing the demand for brain sensors amongst patients to study and analyze the migraine-causing activities/factors. As per the World Health Organization (WHO), approximately 40% of the global population suffered from headache disorders in 2021. WHO also states that headache disorders across the globe are known to be under-estimated, under-recognized, and undertreated. Therefore, wearables such as EEG headsets that help in understanding and analyzing patterns that cause migraine headaches in people have been soaring the demand for wireless brain sensors. The non-invasive nature of these methods further aid in patients trying these testing machines to analyze their pre-migraine, and during migraine brain wave activities. This has simultaneously propelled revenue growth through of this segment in the Global Wireless Brain Sensors Market.

Based on End-User:

• Research Institutes
• Hospitals
• Diagnostic Centres
• Others (clinics, homecare settings, etc.)

Out of them all, the hospitals segment has held a dominant share of the Global Wireless Brain Sensors Industry. Hospitals being the primary location for patients for all their healthcare needs due to the availability of majority facilities under one roof have helped hospitals gain a larger share in the market. Moreover, the increasing number of neurology-based hospitals across the globe in line with the national government initiatives for enhancing healthcare facilities for their population has also resulted in the higher demand for wireless brain sensors from the hospitals compared to the other end-users. For instance:

• In 2024, the Indian state government of Tamil Nadu, announced the construction of a neuroscience block at Rajiv Gandhi Government General Hospital with investment worth approximately USD 8.1 million. The building would have around 220 beds, neuromedicine & physiotherapy departments, operation theatres, and intensive care units.

Global Wireless Brain Sensors Market (2024-30): Regional Projections

Geographically, the Global Wireless Brain Sensors Market expands across:

• North America
• South America
• Europe
• Asia-Pacific
• The Middle East & Africa

North America witnessed significant revenue growth in the Global Wireless Brain Sensors Market during 2019-2023. The vast prevalence as well as consistently surging cases of early onset dementia in the region is necessitating the demand for advanced wireless brain sensors for detection and treatment. According to Blue Cross Blue Shield, in 2017 about 131,000 Americans between the ages of 30-64 were diagnosed with early onset dementia, which was around a 200% increase from the numbers of 2013. Furthermore, this number has been steadily increasing with the median age of dementia-suffering people being 40-50 years old. The number of deaths due to dementia has also increased compared to the other diseases in the region. Such instances in the region are further estimated to augment the demand for wireless brain sensors, further fueling the growth & expansion of the Wireless Brain Sensors Industry in the coming years.

Global Wireless Brain Sensors Industry Recent Development:

• 2024: Brain Scientific’s EEG monitoring assets of 16 patents were acquired by Aditxt Inc. The portfolio included patents of its flagship products such as NeuroCap and NeuroEEG.
• 2022: InteraXon Inc. (Muse) reported the launch of a new VR software development kit and EEG headband made to be compatible with almost all key VR head-mounted displays.

Gain a Competitive Edge with Our Global Wireless Brain Sensors Market Report

1. Global Wireless Brain Sensors Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
3. Global Wireless Brain Sensors Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.