The latest market report published by Credence Research, Inc. “Global Neurofeedback Systems Market– Growth, Future Prospects, Competitive Analysis, 2018 – 2026,” the global neurofeedback systems market was valued at US$ 820.7 Mn in 2017, and is expected to reach US$ 1,565.6 Mn by 2026, expanding at a CAGR of 7.5% from 2018 to 2026.
Neurological disorder is the electrical or biochemical abnormality of the human nervous system. The specific causes ranges from congenital abnormalities, genetic, lifestyle disorders to brain injury. Neurofeedback systems has been recognized as the most effective alternative treatment option for brain abnormalities. It is highly effective in patients showing non-compliance and resistance to medicine therapy.
In the present scenario frequency neurofeedback system is reigning the type segment for neurofeedback systems. It employs 2 to 4 surface electrodes and is popularly known as surface neurofeedback system. High degree of simplicity, ease of operation and popularity among neurologists drive the frequency neurofeedback systems market growth. Functional magnetic resonance imaging (fMRI) is the latest neurofeedback system which is successful in modulating brain activity in the deep subcortical brain region. It is used during epileptic surgical procedures by neurologists.
Currently 50 million people throughout the globe are suffering with epilepsy making it the most common neurological disease worldwide as published by Global Disease Burden (GDB) in Lancet journal. In epilepsy the human brain continuously misfires signals, hence neurofeedback systems modulate the brain by inhibiting slow waves and promoting mid-range frequency waves eventually preventing seizures. ADHD has been popular in the last decade owing to the severe adverse effects associated with its long term medication such as insomnia, anxiety and loss of appetite. Neurofeedback systems has been successful in treating ADHD by decreasing brain activity in theta band region and promoting activity in beta band region.
North America currently represents a share of 60% and is the largest regional market in global neurofeedback systems market. Rising prevalence of neurological disease and existence of advanced healthcare infrastructure drive the neurofeedback systems market growth in North America region. Europe with a share of 20% is the second largest market owing to increasing number of patients suffering with insomnia and anxiety. Asia Pacific currently holds 8% market share and is on the path to register impressive growth in the near future on account of developing healthcare infrastructure and rampant growth in neurological disease diagnosis and treatment.
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 Market Movements:
- Rising prevalence of neurological disease
- Increasing adoption of EEG biofeedback system treatment in patients showing resistance to medications
- Technological advancement in EEG devices with ability to determine brainwaves landscape and modulate them according to neurological disease treatment
Browse the full report Neurofeedback Systems Market – Growth, Future Prospects, Competitive Analysis, 2018 – 2026 report at https://www.credenceresearch.com/report/neurofeedback-systems-market