The brain health devices market comprises products that are used for monitoring brain health conditions including sleep disorders, dementia, stroke, headache and epilepsy. Brain health devices help in the diagnosis, treatment and management of different brain-related disorders. Rising incidence of neurological disorders such as Alzheimer's disease, Parkinson's disease and disorders like sleep apnea have increased the demand for brain health devices for diagnosis and monitoring purposes. Growing geriatric population is a major driver for the brain health devices market as neurological disorders are highly prevalent in the elderly population.

The Global Brain Health Devices Market is estimated to be valued at US$ 9,070.5 million in 2024 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030.

Key Takeaways

Key players: Key players operating in the brain health devices market are BrainScope Company, Inc., Bio-Signal Group Corp., Cadwell Industries, Inc. Advanced Brain Monitoring, Inc., Compumedics Ltd., Elekta, DePuy Synthes, Electrical Geodesics, Inc., Medtronic, GE Healthcare, MEG International Services Ltd, Natus Medical, Inc., Neurowave Systems Inc., Nihon Kohden Corporation, and Philips Healthcare. These players are focusing on new product launches and mergers & acquisitions to expand their global reach.

Key opportunities: Rising healthcare expenditure in emerging countries, increasing awareness regarding brain health conditions and growing investments for development of advanced diagnostic devices are expected to create new opportunities for players in the brain health devices market during the forecast period.

Global expansion: Major players in the market are expanding their presence globally, specifically in Asia Pacific and Latin America to tap the high market potential. Favorable government policies and improving access to healthcare infrastructure in developing regions is encouraging global companies to expand abroad.

Market drivers: Increasing prevalence of neurological disorders due to growing geriatric population is a major demand driver. Surging incidence of stroke, Alzheimer's disease and brain tumors worldwide has boosted the adoption of brain health monitoring devices. Rapid development of minimally invasive technologies has enhanced the diagnosis and treatment of various brain disorders.

Market restrain: High cost of sophisticated brain monitoring devices limits broader adoption, especially in price-sensitive developing markets. Lack of skilled professionals to operate complex brain monitoring equipment in remote areas also restrains market growth. Additionally, insufficient reimbursement policies related to brain health devices hamper market revenue growth.

Segment Analysis

The brain health devices market is dominated by the electroencephalography (EEG) sub-segment. This is because EEG devices are reliable, non-invasive means of recording electrical activity in the brain. They provide accurate temporal resolution for observing brain rhythm abnormalities. EEG allows detection of issues related to epilepsy, brain death, tumor, stroke and head injuries at an early stage. Moreover, ambulatory or portable EEG devices have gained prominence due to their ability to record brain activity for extended periods during normal daily activities.

Global Analysis

Geographically, North America governs the global brain health devices market and is expected to continue its dominance during the forecast period. This is attributed to advancements in technology and rising prevalence of neurological disorders in this region. Additionally, favorable reimbursement policies and government support for R&D activities related to brain health devices are fueling market growth. Asia Pacific is projected to witness the fastest growth during 2023-2030. This is credited to factors such as growing medical tourism industry, increasing healthcare spending and rising awareness about brain health devices in developing Asian countries.

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