The global brain health devices market is estimated to be valued at US$ 9,070.5 million in 2018 and is expected to exhibit a CAGR of 7.7% over the forecast period 2019-2026, as highlighted in a new report published by Coherent Market Insights.

A) Market Overview:

The brain health devices market includes devices used for the diagnosis and treatment of neurological disorders such as Alzheimer's disease, Parkinson's disease, and epilepsy. These devices play a crucial role in providing accurate diagnosis, monitoring brain activity, and delivering targeted therapy to patients. With the increasing prevalence of neurological disorders and a growing aging population worldwide, the demand for brain health devices is expected to rise significantly in the coming years.

B) Market Dynamics:

1. Driver: Rising Aging Population

The global population is rapidly aging, leading to an increased incidence of age-related neurological disorders. According to the World Health Organization (WHO), the number of people aged 60 years and above is expected to double by 2050, reaching around 2.1 billion. This demographic shift is expected to drive the demand for brain health devices, as older adults are more prone to neurological conditions such as Alzheimer's and Parkinson's disease.

2. Opportunity: Increasing Prevalence of Neurological Disorders

Neurological disorders are on the rise globally, posing a significant burden on healthcare systems. According to the Global Burden of Disease Study 2016, neurological disorders are the leading cause of disability-adjusted life years (DALYs) worldwide. This increasing prevalence of conditions such as epilepsy, dementia, and stroke creates opportunities for the brain health devices market to develop innovative diagnostic and therapeutic solutions.

C) Segment Analysis:

The brain health devices market can be segmented based on product type, application, and end-user. Among the product types, neurostimulation devices dominated the market in 2018. Neurostimulation devices, such as deep brain stimulation (DBS) and transcranial magnetic stimulation (TMS), are widely used for the treatment of neurological disorders. These devices offer targeted therapy and have shown promising results in managing conditions such as Parkinson's disease and depression.

D) PEST Analysis:

Political: The political landscape plays a crucial role in determining the regulatory environment for brain health devices. Regulations related to the approval and reimbursement of these devices vary across different regions, impacting market growth.

Economic: The economic factors impacting the brain health devices market include healthcare expenditure, GDP growth, and disposable income. A growing economy and increased healthcare spending contribute to the growth of the market.

Social: The social factors encompass the impact of lifestyle changes, awareness about neurological disorders, and the acceptance of advanced technologies among healthcare professionals and patients. Rising awareness about brain health and the importance of early diagnosis drive the demand for brain health devices.

Technological: Advancements in technology, including brain-computer interfaces, wearable devices, and artificial intelligence, are revolutionizing the brain health devices market. These innovations are improving diagnosis accuracy, treatment outcomes, and patient experience.

E) Key Takeaways:

1. The global brain health devices market is expected to witness high growth, exhibiting a CAGR of 7.7% over the forecast period, due to the increasing aging population and the rising prevalence of neurological disorders.

2. North America is the fastest-growing and dominating region in the brain health devices market, primarily due to a well-established healthcare infrastructure, high healthcare expenditure, and the presence of key market players.

3. Key players operating in the global brain health devices market include CAS Medical Systems Inc., Advanced Brain Monitoring Inc., Covidien PLC, Cadwell Laboratories Inc., Elekta AB, GE Healthcare, Masimo Corporation, Natus Medical Inc., Integra LifeSciences Holdings Corporation, NeuroWave Systems Inc., Philips Healthcare, Nihon Kohden Corporation, and Siemens Healthineers.

In conclusion, the growing aging population and increasing prevalence of neurological disorders are driving the demand for brain health devices. Advancements in technology and rising awareness about brain health further contribute to market growth. The market offers significant opportunities for innovation and development of new products to cater to the needs of patients with neurological conditions.