The neurofeedback systems market is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2018 to 2026, from US$ 820.7 million in 2017 to US$ 1,565.6 million by 2026. According to the latest research findings published in The Lancet by the Global Burden of Disease (GBD), neurological diseases are the leading cause of death and disability worldwide. A neurofeedback system also called an EEG biofeedback system, is a noninvasive type of brain training system. It employs electrodes to record and modulate brain waves in the treatment of neurological diseases.
Market Synopsis
Simplicity and popularity among neurologists drive the market growth for frequency neurofeedback systems.
Frequency neurofeedback systems are currently reigning in the type segment of the neurofeedback systems market. The key features contributing to its positive growth are its ease and simplicity of operation and its popularity among neurologists. It uses 2–4 surface electrodes and so is popularly called "surface neurofeedback."
It is employed to change the speed and amplitude of specific brain waves for the treatment of neurological disorders such as ADHD, insomnia, and anxiety. Functional magnetic resonance imaging (fMRI) is the latest neurofeedback system that is employed to modulate brain activity in the deep subcortical brain region. It is the most effective method used in the planning and execution of epilepsy surgery.
The market for epilepsy is growing due to rising prevalence rates and a significant increase in the number of patients who are resistant to medication.
Epilepsy is currently dominating the application segment for the neurofeedback systems market. Epilepsy affects 50 million people worldwide, making it the most common neurological disease. It causes social discrimination and stigma for people suffering from epilepsy. There has been a significant increase in the number of patients showing resistance to medication.
In epilepsy, the brain continuously misfires signals; hence, neurofeedback modulates the brain to inhibit slow waves and promote mid-range frequencies, which eventually prevent seizures. Attention deficit hyperactivity disorder (ADHD) has garnered a lot of attention in the last decade. Medications such as Concerta, Ritalin, and Dexedrine have been used as long-term treatments for ADHD. Evidence has been reported of severe adverse effects associated with this medication, such as anxiety, insomnia, and decreased appetite. Neurofeedback therapy decreases the brain's activity in the theta band region and promotes activity in the beta band region in patients suffering from ADHD.
The rising prevalence of neurological disorders, as well as the availability of advanced healthcare infrastructure, are driving market growth in North America.
North America currently controls 60% of the market for neurofeedback systems. The major features responsible for its dominance in the global market for neurofeedback systems are the rising prevalence of neurological disorders and the existence of advanced healthcare infrastructure. As per the statistics provided by the Centers for Disease Control and Prevention (CDC), there are approximately 3.4 million U.S. citizens suffering from active epilepsy.
Europe is the second-largest market, with a share of 20%, on account of its large population base suffering from insomnia and anxiety. Several patients are showing resistance to medication and are seeking EEG-based therapies to change the brainwaves to counteract ADHD, epilepsy, and migraine. Asia Pacific represents a share of 8% and is set to register impressive growth during the forecast period from 2018 to 2026 on account of developing health infrastructure and rampant growth in neurological diagnosis and treatment.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The market is segmented by type, application, and geography.
Medical device manufacturers producing EEG equipment for neurofeedback systems are BrainMaster Technologies, Inc., BEE Medic GmbH, Mind Media B.V., Mitsar Co., Ltd., Myndlift, Neurobit Systems, NeuroCare Group GmbH, Stens Corporation, Thought Technology Ltd., and Wearable Sensing.
Key questions are answered in this report.
Which major players are active in the neurofeedback systems market?
What are the latest technological advancements in EEG devices, and how effective are they in modulating abnormal brain waves?
What is the disease etiology of common brain illnesses, and how effective are neurofeedback systems in their treatment?
What is FMRI, and how is it employed in the treatment of epileptic surgical procedures?
What is ADHD, and what is the treatment regimen employed?
Which factors are responsible for the dominance of North America in the global market for neurofeedback systems?
Frequently Asked Question:
The market for Neurofeedback Systems Market is expected to reach USD$ 1,565.6 Mn in 2026.
The Neurofeedback Systems Market is expected to see significant CAGR growth over the coming years, at 7.5%.
The report is forecasted from 2018 -2026.
The base year of this report is 2017.
BrainMaster Technologies, Inc., BEE Medic GmbH, Mind Media B.V., Mitsar Co., Ltd., Myndlift, Neurobit Systems, NeuroCare Group GmbH, Stens Corporation. are some of the major players in the global market.
