Research report presented by UnivDatos, Emphasis on Product Type (Sleep Monitoring Devices, Electroencephalography (EEG) Devices, Others), Application (Parkinson’s Disease, Alzheimer’s Disease, Sleep Disorders, Traumatic Brain Injuries, Epilepsy, Others), End-user (Hospitals, Research institutes, Others) and Geographical analysis (key regions and countries).
As per the research report, Global Wireless Brain Sensors Market was valued at US$ 1,558.2 million in 2019 and is anticipated to reach US$ 2,903.8 million by 2026 displaying reasonable CAGR of 9.3% over the forecast period (2020-2026). Neurological illnesses are one of the most common conditions, posing a greater burden on victims, their families, and culture. Neuropathy affects 20 million Americans, and approximately 16% of households in the United States have a member with cognitive disability. According to the Federal Interagency Forum on Aging-Related Statistics, 35.8% of people aged 85 and over suffer from mild to extreme memory loss. Neurological diseases such as Alzheimer's and Parkinson's disease are becoming more common. Wireless brain electrodes have been developed as a result of technical advances. The wearable brain sensors can measure intracranial pressure and temperature and can be used to track patients with traumatic brain injury and other neurological conditions. The demand for wireless brain sensors is expected to expand significantly due to factors such as an ageing population, an increase in the incidence of neurological diseases and traumatic brain injury, increased stress, and increased mobile and internet penetration. Furthermore, as the prevalence of age-related neurological diseases has increased over the year, mostly in developing countries, the life expectancy as a result of increased recognition and better medical services will further fuel this sector. The industry is expected to grow in response to rising demand for connected instruments and the convenience of which those sensors can be used by neurodevelopmental populations. However, privacy concerns will be a big stumbling block to the market's expansion.
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“Brain Sensors are majorly applied in Electroencephalography (EEG) Devices”
Electroencephalography (EEG), sleep tracking devices, magnetoencephalography (MEG), Transcranial Doppler (TCD) Devices, Intracranial Pressure (ICP) Monitors, and Other (Accessories) are the product types that make up the global wireless brain sensors market. In 2019, the Electroencephalography (EEG) Device segment led the industry, bringing in $525.07 million in sales. During the forecast period 2020-2026, sleep monitoring devices are projected to rise at a CAGR of 9.8%.
“Wireless Brain sensors are major applications to the treatment and tracking of Traumatic Brain Injuries”
The global Wireless Brain Sensors market is divided into Parkinson's disease, Alzheimer's disease, sleep disturbances, traumatic brain injury, diabetes, migraine, Stroke, and others based on medical conditions. In 2019, the use of wearable brain electrodes for traumatic brain injuries accounted for 24.6 percent of the market. TBI causes more mortality and disability in the world than any other physical injury. In the coming years, the most widespread use of brain sensors will be in the treatment of epilepsy. During the forecast period, the segment is projected to rise at a CAGR of 10.3 percent.
“Amongst end-user, the hospital was the highest user of Wireless Brain Sensors, accounting for 66.5% share in 2019”
The wireless brain sensor technology's main end-user segments included hospitals, diagnostic centres, and research institutes, among others. In 2019, the hospital segment led the industry, with sales forecast to reach US$ 1,460.18 million by 2023. During the study era, however, the use of these brain sensors in Diagnostic Centers is predicted to rise at the fastest rate of 10.1 percent.
“North America dominated the adoption of wireless brain sensors technology, generating revenue of US$ 791.43 million in 2019”
Deep-dive country-level research was performed for major regions/countries including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Spain, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), and Rest of the World to better understand the overall acceptance and penetration of wireless brain sensors technologies. Because of the high prevalence of age-related neurological diseases and the increasing elderly population, as well as high public interest, North America was the largest market for technology in 2019. During the study period, the regions of Europe and Asia-Pacific are predicted to have the largest CAGRs of 10.0 percent and 9.9 percent, respectively.
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