Biofeedback Measurement Instrument Market Is Estimated To Witness...

Biofeedback Measurement Instrument Market Is Estimated To Witness High Growth Owing To Awareness On Stress Management

Posted 2023-11-17 12:26:01

Market Overview:
Biofeedback measurement instruments are used to treat various conditions related to stress, anxiety, high blood pressure, chronic pain, headache, asthma, insomnia and other psychological conditions. These instruments help in relaxation by measuring physiological activities like muscle tension, brain waves, breathing, heart rate, skin temperature and galvanic skin response. They utilize sensors and visual/audio displays to indicate levels of physiological functioning or activity, with an aim to teach patients self-regulation of physiological processes.

Market Dynamics:
Rising awareness regarding stress management and mental well-being is estimated to drive the growth of biofeedback measurement instrument market over the forecast period. Stress is one of the major health issues due to hectic lifestyles and rising work pressure. According to the American Psychological Association’s annual Stress in America survey, around 80% of Americans reported physical or emotional symptoms of stress such as fatigue, headaches, sleep problems and weight loss or gain. Biofeedback training helps in monitoring physiological indicators of stress like heart rate, EMG, blood pressure, EEG activity and skin conductance which enables individuals to learn how to control the stress response and relax the muscles.

Another key driver fueling the market growth is increasing adoption of biofeedback therapy for treatment of chronic pain conditions like migraine, back pain, arthritis and fibromyalgia. According to the National Center for Chronic Disease Prevention and Health Promotion, around 50 million adults in the US suffer from chronic pain. The effectiveness of biofeedback therapy has been proven for managing chronic pain by overcoming maladaptive autonomic responses and muscle tension. It aids in relaxation of hypertonic muscles and enhances blood flow and oxygenation which helps reducing pain.

The global Biofeedback Measurement Instrument Market Share is estimated to be valued at US$ 185.4 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

SWOT Analysis

Strength: Biofeedback measurement instrument market has strong growth potential over the forecast period due to increasing prevalence of stress, musculoskeletal disorders and other lifestyle diseases. These devices can help patients improve their health in a non-invasive way. Furthermore, continuous technological advancements are allowing manufacturers to develop more accurate and user-friendly biofeedback devices.

Weakness: High cost of specialized biofeedback devices can restrain its adoption in low and middle-income countries. Lack of trained professionals for operating these advanced medical devices also poses a challenge. Reimbursement issues related to biofeedback therapy further limit the growth of this market.

Opportunity: Increasing application of biofeedback in various therapeutic areas like pain management, addiction treatment, etc. offers lucrative opportunities. Growing geriatric population prone to chronic diseases will boost demand. Favorable regulatory guidelines and reimbursement policies can stimulate market sales.

Threats: Intense competition among existing players may lead to pricing pressure. Alternate treatment options also threaten the growth of biofeedback market. Data privacy and security risks pertaining to digitally enabled devices can hamper adoption rates.

Key Takeaways

The global biofeedback measurement instrument market is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing prevalence of stress, chronic pain and lifestyle diseases. Biofeedback helps in treating such conditions in a non-invasive manner using physiological signals.

Regional analysis
North America dominates the global biofeedback measurement instrument market and is expected to continue its dominance over the forecast period. This can be attributed to growing acceptance of biofeedback therapy, presence of favorable reimbursement policies, and advanced healthcare infrastructure in the region. Asia Pacific exhibits the fastest growth due to rising geriatric population, increasing healthcare spending, growing awareness regarding neurofeedback treatment.

Key players
Key players operating in the biofeedback measurement instrument market are Thought Technology Ltd, ELMIKO, Mind Media, Laborie, Behavioral Medicine Associates, Inc, Neurocare Group Gmbh, Allengers Medical Systems, BrainMaster Technologies, Inc, Quantum World Vision, NCC Medical, Qxsubspace. These manufacturers are focusing on new product launches and mergers & acquisitions to strengthen their market position.