The latest market report published by Credence Research, Inc. “Wireless Brain Sensors Market Growth, Future Prospects, and Competitive Analysis, 2017 -2025” the wireless brain sensors market was valued at US$ xx.xx Bn in 2016, and is expected to reach US$ xx.xx Bn by 2025, expanding at a CAGR of 9.3% from 2017 to 2025.
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The wireless brain sensors market is expected to show remunerative growth in the forecast period of 2017-2025. Brain sensors also known as brain-computer interface are the latest advancement in the brain sensor market that detect the intracranial pressure, temperature and record the brain waves within a patient suffering from conditions such as traumatic brain injury, Parkinson’s diseases, sleep disorders or any other condition affecting the nervous system or causing cognitive impairment. With wireless add-on feature the brain sensors can be integrated with smartphone, tablets and computers that enables periodic monitoring of the brain signals remotely and thus can be used in a homecare setting which reduces the economic burden on the patients by reducing the cost of frequent visits to hospitals. The wireless feature thus creates an increasing demand for wireless brain sensors and increases the market growth.
The rise in number of various neurological disorders due to change in lifestyle, high stress levels and continuous changing social environment has led to a rising demand for wireless brain sensors thus encapsulating this market. Traumatic brain injuries market creates maximum demand for wireless brain sensors owing to its higher incidence rates. As per World Health Organization (WHO) the annual incidence of traumatic brain injury accounts to 558 per 100,000 people in the USA, and it also accounts as the 3rd leading cause of global mortality and disability by 2020.
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North America grabs major market share for wireless brain sensors due to increase in technological advancements, higher R&D investments, acceptability to newer and innovative technologies and widespread presence of wireless brain sensors industries. Europe lines second in this market. Investments by the European governments in the development of wireless brain sensors has propelled the growth of this market. Asia Pacific is expected to show a slow remunerative growth owing to the development in the healthcare infrastructure, increased availability of newer advanced technologies and better patient acceptance to newer treatment methods.
Market Competition Assessment:
The wireless brain sensors market consists of few players gaining extensive market share. Owing to a lesser competitive pool there arises great opportunities for existing key players to expand. The key players in this market are EMOTIV Inc., Advanced Brain Monitoring, Inc., Muse, NeuroSky & Neuroelectric.
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Key Market Movements:
- There is an increasing demand for wireless brain sensors owing to its ability of utilization in homecare environment with medical assistance thus being more cost-efficient
- The wireless feature enables easy monitoring on the smartphone, tablets or laptops, which helps creating alerts when necessary and easy retrieval of any related neurological pattern as and when required
- The easy availability of these devices has created a demand for it the developing nations as well
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