The neurofeedback system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neurofeedback System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The neurofeedback system market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth in the historic period can be attributed to increasing prevalence of target diseases, increasing prevalence of neurodegenerative diseases, increasing demand due to growing research and clinical validation, rising demand for non-invasive treatment, and increasing healthcare expenditure.
The neurofeedback system market size is expected to see rapid growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to rising anxiety disorders, rising focus on research and development, rising incidence of mental disorders, growing application in cognitive enhancement, and increasing adoption in home-based therapy. Major trends in the forecast period include technical advancements, miniaturization of electroencephalography (EEG) hardware, advanced signal processing, wearable electroencephalography (EEG) devices, and wireless electroencephalography (EEG) headsets.
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Scope Of Neurofeedback System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Neurofeedback System Market Overview
Market Drivers –
The increasing prevalence of neurodegenerative diseases is expected to propel the growth of the neurofeedback systems market going forward. Neurodegenerative diseases are conditions that cause the brain and nervous system to slowly lose function, leading to problems with memory, movement, and thinking. The common neurodegenerative diseases are Alzheimer’s disease, Parkinson’s disease, amyotrophic lateral sclerosis (ALS), Huntington’s disease, multiple sclerosis (MS), and frontotemporal dementia (FTD). The prevalence of neurodegenerative diseases is due to the aging population, improved diagnosis and awareness, and lifestyle factors. Neurofeedback offers promising avenues for managing neurodegenerative diseases, but it is usually employed as a complementary therapy in conjunction with conventional treatments. Personalizing neurofeedback protocols to fit individual needs and responses is essential for optimal effectiveness. For instance, in December 2022, according to the Parkinson Foundation, a US-based government organization, the yearly incidence of Parkinson’s disease (PD) among older persons is 50% greater than the existing estimate of 60,000 cases. Further, around 1.2 million more Americans are predicted to have Parkinson’s disease by 2030. Therefore, the increasing prevalence of neurodegenerative diseases is driving the growth of the neurofeedback systems market.
Market Trends –
Major companies operating in the neurofeedback systems market are focused on developing innovative systems, such as brain training systems, to enhance cognitive function, improve mental health, and manage symptoms associated with neurodegenerative diseases. Brain training systems, often called neurofeedback systems, are designed to improve cognitive function and emotional regulation by providing real-time feedback on brain activity. For instance, in October 2023, Sens.ai, a Canada-based pioneering company, launched its At-Home Brain Training System. This innovative product combines various advanced technologies into a user-friendly device that includes a headset and a gamified app experience. The system is designed for ease of use, allowing users to engage in brain training sessions that can last as little as 15 minutes. The app features a variety of programs and missions that evolve, addressing common issues like sleep, stress, and focus.
The neurofeedback system market covered in this report is segmented –
1) By System: Frequency And Power Neurofeedback System, Slow Cortical Potential Neurofeedback (SCP-NF) System, Low-Energy Neurofeedback System (LENS), Hemoencephalographic (HEG) Neurofeedback System, Low-Resolution Electromagnetic Tomography (LORE-TA), Functional Magnetic Resonance Imaging (fMRI)
2) By Application: Attention Deficit Hyperactivity Disorder (ADHD), Anxiety, Depression, Epilepsy, Insomnia, Drug Addiction, Schizophrenia, Other Applications
3) By End-User: Hospitals, Physician Offices, Ambulatory Surgical Center (ASCs)
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Regional Insights –
North America was the largest region in the neurofeedback system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurofeedback system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neurofeedback system market are Thought Technology Ltd., NeurOptimal, EMOTIV Inc., EEG Info, ANT Neuro b.v., NeuroCare Group, NeuroSky’s, Neuroelectrics Corporation, Brain Master Technologies Inc., Mind Media Inc., Neurofield Inc., Brain Vision LLC, Mitsar Co. Ltd., Mind Alive Inc., Bee Medic LLC, Myndlift, Braincore, Divergent Technologies Inc., MIndfield Biosystems Ltd., NIRx Medical Technologies LLC
Table of Contents
1. Executive Summary
2. Neurofeedback System Market Report Structure
3. Neurofeedback System Market Trends And Strategies
4. Neurofeedback System Market – Macro Economic Scenario
5. Neurofeedback System Market Size And Growth
…..
27. Neurofeedback System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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