The neurofeedback market is estimated to be valued at US$ 1,253.5 million in 2022 and is expected to exhibit a CAGR of 7.33% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Neurofeedback is a type of biofeedback that uses real-time displays of brainwave activity-usually recorded from EEG sensors on the scalp-to teach self-regulation of brain function. Neurofeedback training helps teach the brain to function more efficiently by changing frequency patterns in the brain, which promotes overall brain health. It is a non-invasive method used to treat conditions such as ADHD, sleep disorders, anxiety, depression and more. Advances in neurotechnology and rising acceptance of neurofeedback therapy among the public and healthcare professionals are supporting market growth.

Market Dynamics:
The neurofeedback market is primarily driven by the increasing prevalence of mental health conditions globally. According to WHO estimates, over 264 million people of all ages suffer from depression. Growing awareness and acceptance of neurofeedback as an effective alternative treatment method for various mental health issues without the side effects of medication is also fueling market expansion. In addition, technological advancements in neurofeedback devices such as wireless sensors and integration of AI/ML features are making therapy more convenient and efficient. This is encouraging more patients to opt for neurofeedback. However, limited clinical evidence, high costs and lack of insurance coverage for neurofeedback treatment in some countries could hinder market progress to a certain extent over the forecast period.

SWOT Analysis
Strength: Neurofeedback provides non-invasive treatment for neurological disorders using biofeedback techniques without involving any drug therapy or surgery. It helps in improving brain performance and self-regulation abilities. Neurofeedback treatment is flexible and adaptable based on individual needs.
Weakness: Neurofeedback treatment requires multiple sessions ranging from 10-40 sessions, which increases the overall cost of the treatment. It also needs specialized Neurofeedback equipment and trained neurofeedback practitioners which are not widely available.
Opportunity: Growing prevalence of neurological disorders such as ADHD, depression, anxiety, insomnia, etc. is creating demand for alternative treatment options like neurofeedback. Expanding applications of neurofeedback in optimization of brain performance is another growth opportunity.
Threats: Lack of insurance coverage and reimbursement policies for neurofeedback treatment poses affordability challenges. Presence of alternative treatment options like drugs, therapies, and clinical therapies restrict the market.

Key Takeaways
The global Neurofeedback Market Share is expected to witness high growth, exhibiting CAGR of 7.33% over the forecast period, due to increasing prevalence of neurological and mental health disorders.

Regional analysis
North America holds the largest share in the neurofeedback market owing to growing use of advanced neurofeedback devices and clinical applications of neurofeedback in the region. The Asia Pacific region is expected to exhibit the fastest growth during the forecast period due to rising prevalence of mental health issues, increasing healthcare expenditure, growing medical tourism, and expanding clinical research on neurofeedback in countries like China and India.

Key players
Key players operating in the neurofeedback market are Neuro Care Group, Myndlift Ltd, Brainmaster Technologies, Inc., Mitsar Co. Ltd, Emotiv, Brainworks, Mindfield Biosystems Ltd., Narbis, Thought Technology Ltd., InteraXon Inc., Mind Media USA Inc., and NeuralScan. Neuro Care Group dominates the market with the largest neurofeedback device manufacturing and clinical practice. Myndlift and Brainmaster Technologies are other major players focusing on innovation and commercialization of advanced neurofeedback tools.

Read More,

https://dailynewsmotion.weebly.com/report-blog/north-america-contributes-major-share-in-neurofeedback-market