Brain Health Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Brain Health Devices Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The brain health devices market has witnessed significant growth due to the increasing preference for minimally invasive procedures among patients. The market includes various devices such as magnetoencephalograms, electromyography (EMG) devices, deep brain stimulation systems (brain pacemaker), cerebral oximeters, and other implantable brain devices.

Speedy Regulatory Approvals Ensuring a Bright Future

The rapid advancements in neurodiagnostics are driving the growth of the brain health devices market. Patients are seeking early diagnosis of brain ailments to maximize the chances of successful treatment. Regulatory approvals granted to brain health devices play a vital role in fostering market growth. Notably, in 2019, the US Food and Drug Administration (FDA) granted approval to GE Healthcare for its deep learning apex tomography equipment. This transformative technology, known as deep learning image reconstruction (DLIR), uses a deep neural network (DNN) to create TrueFidelity CT scans.

Shift Towards Home Diagnosis Boosts Device Dominance

The trend towards early medical diagnosis in a home environment using wearable devices has led to devices dominating the product segment of the brain health devices market. This trend is expected to continue throughout the forecast period, driven by the increasing prevalence of various sleep, psychotic, neurological, and neurogenerative disorders.

North America Leads with Support from Cash-Rich Tech Giants

North America is projected to maintain its leadership in the brain health devices market, thanks to the presence of several global tech giants. Companies like Microsoft and Google are spearheading change with significant investments in wearables. The Asia Pacific (APAC) region is also poised for growth as emerging economies invest substantial sums in manufacturing brain dysfunction management devices. India, in particular, already has the second-highest global incidence rate of dementia, making it a promising market for brain health devices.

Prohibitive Cost Restricts Mass Adoption

While brain health devices offer promising benefits, their prohibitive cost poses a challenge for small healthcare providers and clinics to adopt them. As a result, hospitals, with their larger patient footfall and resources, remain the largest users of brain monitoring devices. Hospitals have the necessary trained medical personnel to effectively operate brain health devices, further driving their adoption.

Companies Leading Innovation in the Brain Health Devices Market

Neurotechnological innovation is advancing rapidly in the brain health devices market, making devices readily available. Initiatives like the BRAIN initiative in 2013 have contributed to R&D efforts related to brain function. In 2019, Masimo received CE Mark authorization for its SedLine brain function monitor for children. Other prominent companies in the brain health devices market include Advanced Brain Monitoring Inc., CAS Medical Systems Inc., Covidien PLC, Cadwell Laboratories Inc., Elekta AB, GE Healthcare, Integra LifeSciences Holdings Corporation, Natus Medical Inc., NeuroWave Systems Inc., Nihon Kohden Corporation, Philips Healthcare, and Siemens Healthineers.

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