PUBLISHER: The Business Research Company | PRODUCT CODE: 1619778
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619778
A neurofeedback system is a type of biofeedback that trains individuals to regulate their brain activity. It involves monitoring brainwave patterns in real-time and providing feedback to the user to help them alter their brain function, often to improve mental health, cognitive performance, or emotional regulation. Neurofeedback systems aim to help individuals gain better control over their brain function, leading to potential improvements in mental health, cognitive abilities, and overall well-being.
The main system of neurofeedback systems are frequency and power neurofeedback systems, slow cortical potential neurofeedback (scp-nf) systems, low-energy neurofeedback systems (lens), hemoencephalographic (HEG) neurofeedback systems, low-resolution electromagnetic tomography (lore-ta), functional magnetic resonance imaging (FMRI). Frequency and power neurofeedback systems focus on modulating specific brainwave frequencies. These are used in various applications such as attention deficit hyperactivity disorder (adhd), anxiety, depression, epilepsy, insomnia, drug addiction, schizophrenia, and others, and also by various end-users such as hospitals, physician offices, and ambulatory surgical centers (ASCS).
The neurofeedback systems market research report is one of a series of new reports from The Business Research Company that provides neurofeedback systems market statistics, including neurofeedback systems industry global market size, regional shares, competitors with a neurofeedback systems market share, detailed neurofeedback systems market segments, market trends, and opportunities, and any further data you may need to thrive in the neurofeedback systems industry. This neurofeedback systems research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The neurofeedback system market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The growth during the historic period can be attributed to the rising prevalence of target diseases, the increasing incidence of neurodegenerative diseases, growing demand driven by ongoing research and clinical validation, a higher need for non-invasive treatments, and increasing healthcare expenditure.
The neurofeedback system market size is expected to see rapid growth in the next few years. It will grow to $2.14 billion in 2028 at a compound annual growth rate (CAGR) of 10.7%. The growth during the forecast period can be attributed to the rising incidence of anxiety disorders, a greater emphasis on research and development, an increase in mental disorders, expanding applications in cognitive enhancement, and growing adoption of home-based therapy. Key trends during this period include technical advancements, miniaturization of electroencephalography (EEG) hardware, improved signal processing, the development of wearable EEG devices, and the use of wireless EEG headsets.
The rising prevalence of neurodegenerative diseases is expected to drive the growth of the neurofeedback system market in the future. Neurodegenerative diseases are conditions that progressively impair the brain and nervous system, leading to issues with memory, movement, and cognition. Common neurodegenerative diseases include Alzheimer's disease, Parkinson's disease, amyotrophic lateral sclerosis (ALS), Huntington's disease, multiple sclerosis (MS), and frontotemporal dementia (FTD). The increasing prevalence of these diseases is attributed to an aging population, improved diagnosis and awareness, and lifestyle factors. Neurofeedback presents promising opportunities for managing neurodegenerative diseases, though it is typically used as a complementary therapy alongside conventional treatments. Customizing neurofeedback protocols to meet individual needs and responses is crucial for achieving optimal results. For example, in December 2022, the Parkinson Foundation, a US-based organization, reported that the annual incidence of Parkinson's disease (PD) among older adults is 50% higher than the previously estimated 60,000 cases. Additionally, approximately 1.2 million more Americans are expected to have Parkinson's disease by 2030. Consequently, the increasing prevalence of neurodegenerative diseases is fueling the growth of the neurofeedback system market.
Major companies in the neurofeedback systems market are focusing on developing innovative solutions, such as brain training systems, to enhance cognitive function, improve mental health, and manage symptoms related to neurodegenerative diseases. Brain training systems, also known as neurofeedback systems, aim to improve cognitive function and emotional regulation by providing real-time feedback on brain activity. For example, in October 2023, Sens.ai, a pioneering company based in Canada, introduced its At-Home Brain Training System. This cutting-edge product integrates various advanced technologies into a user-friendly device, including a headset and a gamified app. Designed for simplicity, the system enables users to engage in brain training sessions as short as 15 minutes. The app offers a range of evolving programs and missions that address common issues such as sleep, stress, and focus.
In July 2024, Neurocare Group AG, a Germany-based leader in personalized mental health and performance solutions, acquired Smart TMS for an undisclosed amount. This acquisition aims to transform the treatment of mental health and neurological disorders by combining advanced neuromodulation technologies with digital therapies. Smart TMS, a UK-based company, specializes in neurofeedback systems.
Major companies operating in the neurofeedback system market are Thought Technology Ltd., NeurOptimal, EMOTIV Inc., EEG Info, ANT Neuro b.v., NeuroCare Group, NeuroSky's, Neuroelectrics Corporation, Brain Master Technologies Inc., Mind Media Inc., Neurofield Inc., Brain Vision LLC, Mitsar Co. Ltd., Mind Alive Inc., Bee Medic LLC, Myndlift, Braincore, Divergent Technologies Inc., MIndfield Biosystems Ltd., NIRx Medical Technologies LLC
North America was the largest region in the neurofeedback system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurofeedback system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the neurofeedback system market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The neurofeedback system market consists of revenues earned by entities by providing services such as clinical services, therapeutic services, and cognitive training programs. The market value includes the value of related goods sold by the service provider or included within the service offering. The neurofeedback system market also includes sales of home-based systems and electroencephalography systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Neurofeedback System Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on neurofeedback system market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for neurofeedback system ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The neurofeedback system market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.