Wearable EEG Headsets Market Size, Share & Trends Analysis Report By Application (Trauma & Surgery, Disease Diagnosis), By Product, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Wearable EEG Headsets Market Size, Share & Trends Analysis Report By Application (Trauma & Surgery, Disease Diagnosis), By Product, By End-use, By Region, And Segment Forecasts, 2024 - 2030

Wearable EEG Headsets Market Growth & Trends

The global wearable EEG headsets market size is expected to reach USD 244.9 million by 2030, growing at a CAGR of 10.47% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increasing geriatric population, growing demand for non-invasive monitoring solutions across a variety of industries, technological advancements, and rising prevalence of neurological disorders are the factors contributing to the market growth.

Increasing prevalence of neurological disorders such as epilepsy, Parkinson's disease, and Alzheimer's disease is one of the major factors contributing to the adoption of wearable EEG headsets. As per the Alzheimer’s association, more than 6 million Americans have Alzheimer's disease. This figure is anticipated to increase to around 13 million by 2050. These conditions often require continuous monitoring of brain activity to manage symptoms and adjust treatment plans.

Wearable EEG devices offer non-invasive and real-time monitoring of brain activity, which is increasingly preferred over traditional methods that require invasive procedures or laboratory analysis. Furthermore, the growing awareness of mental health and the importance of early diagnosis and treatment is driving the demand for wearable EEG devices as a tool for monitoring brain activity and detecting mental health disorders. In addition, wearable EEG devices are also being used in sports and gaming applications to monitor brain activity during training and competition. This provides valuable insights into cognitive performance and allows athletes and gamers to optimize their performance.

The market growth is being driven by an increase in government programs to assist research projects as well as expanding research and development initiatives in the field of neurology. For instance, through the allocations made in the 2011, 2016, and 2019 budgets, along with additional funding provided in 2021, the Canadian government has said to provide a total of USD 200 million to Brain Canada via the CBRF Program. This funding aims to back Canadian neuroscience research that holds the most promise for leading to breakthroughs in understanding the brain and improving brain health, as well as developing new therapies and methods.

In addition, the rise in incidence of brain tumors & traumatic brain injuries has a beneficial impact on the market's expansion. However, the high initial cost associated with EEG devices is anticipated to impede market expansion. Overall, the wearable EEG headsets industry is expected to experience significant growth in the coming years, driven by the increasing demand for non-invasive brain monitoring solutions. This presents an opportunity for key players in the market to invest in research and development activities and develop innovative products to meet the evolving needs of customers.

Wearable EEG Headsets Market Report Highlights

• By application, the disease diagnosis segment accounted for the largest share in 2023. Increase in geriatric population, growing neurological diseases and others are propelling the market growth
• By product, the 32-channel EEG segment accounted for the largest revenue share of more than 25% in 2023. The market is expanding as a result of increasing adoption of 32-channel EEG equipment by healthcare practitioners and technological advancements in this equipment
• By end-use, the hospital segment dominated the market by capturing a revenue share of more than 60% in 2023
• North America dominated the market for wearable EEG headsets in 2023 due to the high prevalence of neurological disorders and the presence of a large number of key market players in the region
• Asia Pacific is expected to experience the fastest growth rate during the forecast period, driven by the increasing adoption of wearable EEG devices in healthcare and research applications

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