The Increasing Prevalence of Brain Injuries in the World Is Driving the Growth of the Global Brain Health Devices Market

Brain Health Devices Market 

 

Brain Health Devices Market, By Device Type (Magnetic Resonance Imaging, Magneto Encephalogram, Computed Tomography, Transcranial Doppler Device, and Others), by application (Stroke, Dementia, Epilepsy, Dyslexia, and Others), by end-user (Hospitals, Specialty Clinics, and Others), and by region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast 2019 - 2026.

Market Overview:

Brain health devices are medical devices designed to assess, monitor, diagnose, or treat various brain-related conditions and disorders. These devices utilize advanced technologies to provide insights into brain function, aid in diagnosis, and deliver therapeutic interventions. Brain health devices can be used in clinical settings, research laboratories, or even at home for personal monitoring.

Competitive Landscape:

Major players operating in the global brain health devices market include Philips Healthcare, Nihon Kohden Corporation, Neurowave Systems Inc., Natus Medical, Inc., MEG International Services Ltd, GE Healthcare, Medtronic, Electrical Geodesics, Inc., DePuy Synthes, Elekta, Compumedics Ltd., Advanced Brain Monitoring, Inc., Cadwell Industries, Inc., Bio-Signal Group Corp., and BrainScope Company, Inc.

Key Market Drivers:

The prevalence of brain disorders, such as Alzheimer's disease, Parkinson's disease, epilepsy, and stroke, is rising globally. These disorders pose a significant burden on healthcare systems, driving the demand for brain health devices for early detection, accurate diagnosis, and effective treatment. This is expected to augment the growth of the global brain health devices market. For instance, in May 2021, Vineland, part of Inspira Health and Inspira Medical Centers Mullica Hill, introduced the Ceribell Rapid Response EEG monitoring device.

Technological advancements have revolutionized the field of brain health devices. Innovative devices, including neuroimaging systems, neurostimulation devices, and wearable brain monitoring devices, have enhanced diagnosis and treatment options. The development of non-invasive and minimally invasive techniques has also improved patient comfort and outcomes, boosting market growth.

The global aging population is a key driver for the brain health devices market. With age, the risk of brain-related disorders increases. As the elderly population continues to grow, there is a greater demand for brain health devices to diagnose and manage these conditions. This is estimated to enhance the growth of the global brain health devices market.

There has been a growing emphasis on mental health awareness and the importance of brain health. This increased awareness has led to a greater demand for brain health devices that can aid in the diagnosis and treatment of mental health disorders, contributing to market growth.

Covid-19 Impact Analysis:

The COVID-19 pandemic disrupted routine healthcare services, including brain disorder diagnosis and treatment. Many elective procedures and non-emergency appointments were postponed or canceled, leading to delayed diagnosis and treatment initiation. The pandemic diverted resources and attention away from research and development activities related to brain health devices. Clinical trials and new product launches may have been delayed or disrupted. This has restrained the growth of the global brain health devices market.

Key Takeaways:

·         North America is expected to dominate the growth of the global brain health devices market, owing to advanced healthcare infrastructure, high healthcare spending, and the presence of major brain health device manufacturers in the region. The region also has well-established research and development activities in the field. For instance, according to the Brain Injury Association of America, more than 3 million Americans annually suffer from traumatic brain injuries.

·         The Asia Pacific is expected to witness high growth in the global brain health devices market, owing to factors such as a large population, rising disposable incomes, increasing awareness about brain health, and improving healthcare infrastructure. Countries like China, India, and Japan are major contributors to market growth in this region. For instance, according to the Indian National Institute of Mental Health and Neurosciences, more than 1 million individuals in India suffer from traumatic brain injuries yearly.