The global neurofeedback market size was USD 1.1 Bn in 2022 and is likely to reach USD 2 Bn by 2031, expanding at a CAGR of 6.9% during 2023–2031. The market growth is attributed to the increasing prevalence of mental health disorders and insomnia disorders.
Neurofeedback (NFB) is real-time biofeedback from own brain activity to patients. The process allows for building healthy brain functioning through various conditions. In this feedback process, software and sensors are utilized to collect electrical activities from the brain.
Electroencephalography (EEG) is placed on the scalp to record the electrical waves happening within the brain. The feedback is generally displayed or listened to using audio-visual mediums. Based on the brain activity record, the training material can be formed to enable learning to control brain activity over time.
The EEG data is presented to the clients through the game interface format. According to the data displayed on the screen, the client chooses responses that promote improved functioning of the brain. Neurofeedback is used for tackling anxiety disorders, autism, bad sleep habits, memory problems, and other mental disorders.
The market report finds that the COVID-19 pandemic has affected the global neurofeedback market growth. The consequent lockdowns imposed by governments across the world resulted in a slowdown in demand for neurofeedback treatment sessions. Additionally, the fear of infection also kept people away from visiting clinics or hospitals, which again hindered the market growth.
Neurofeedback Market Dynamics
The research report presents a complete market overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global neurofeedback market report has up-to-date insights about market scenarios that can shape the overall market performance and condition during the forecast period, 2023 to 2031.
Major Drivers
The growing prevalence of mental health issues, brain dysfunctions, and insomnia are some of the major drivers for the global market in the coming years. The key trends such as changes in lifestyle, hyper use of smartphones, and work pressure are resulting in the growth of various mental health issues and sleep disorders among individuals globally. Neurofeedback treatment is to be among the most favorable treatment for patients to recover effectively.
Existing Restraints
Some of the key restraints for the market are the expensive nature of neurofeedback therapies and the fear of the side effects of medications among individuals. The treatment is time-consuming due to several sessions. Also, costs for medications and treatments rise with time. These high-cost factors and fear of medication side-effects can be affecting factors for the market growth.
Emerging Opportunities
The advancements in technology are enabling key players in the industry to develop next-gen products, which presents a significant growth opportunity for the market. The advancements in brain monitoring solutions, feedback software, display systems, wearable smart devices, and other smart technologies are enabling market players to present customers with unique solutions.
Another major opportunity for market growth is the rising mental health awareness among individuals. Worldwide, individuals are openly discussing mental health over several social communication mediums. It is no longer considered a taboo topic. The growing awareness of self-wellbeing, and mental wellness is creating a lucrative opportunity for market growth during the forecast period.
Scope of the Neurofeedback Market Report
The market report includes an assessment of the market trends, market segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Neurofeedback Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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System (Slow Cortical Potential Neurofeedback, Low-Energy Neurofeedback System, Frequency/Power Neurofeedback System, Hemoencephalographic Neurofeedback, Low-Resolution Electromagnetic Tomography, Live Z-Score Neurofeedback System, Functional Magnetic Resonance Imaging, and Others), Product (Amplifiers, Computer Software, and Electrodes/Sensors), Application (Anxiety, Insomnia, Attention Deficit Hyperactivity Disorder, Depression, Emotional Regulation, Pain Management, Epilepsy, Mental Fitness, Schizophrenia, Drug Addiction, and Others), and End-user (Hospitals, Neurocare Clinics, Scientific Research, Training Institutes, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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neurocare group AG; Myndlift; Mitsar Co. LTD.; BrainworksNeurotherapy; Mindfield Biosystems Ltd.; BEE Medic; EMOTIV; Narbis; BrainMaster Technologies; Thought Technology Ltd.; Mind Media USA Inc.; TITAN Commerce Continental Services GmbH.; InteraXon Inc.; Medeia; Wearable Sensing; Macrotellect; and NeuroField Inc.
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Neurofeedback Market Segment Insights
Based on the system, the neurofeedback market is divided into slow cortical potential neurofeedback (SCP-NF), low-energy neurofeedback system (LENS), frequency/power neurofeedback system, hemoencephalographic (HEG) neurofeedback, low-resolution electromagnetic tomography (LORE-TA), live z-score neurofeedback system, functional magnetic resonance imaging (fMRI), and others.
The frequency/power neurofeedback system segment is expected to expand at a significant growth rate during the projection period owing to the most frequently preferred neurofeedback treatment by professionals. In this procedure, two to four surface electrodes are used, owing to this the method is also identified as the surface neurofeedback technique. It is used for altering brain waves in a particular section of the brain to treat illnesses such as ADHD, insomnia, and anxiety.
The low-energy neurofeedback system (LENS) segment is anticipated to grow at a rapid rate owing to its safety and effectiveness. The low-energy neurofeedback system technique works more rapidly, which enables saving time and money.
On the basis of product, the global market is segregated into amplifiers, computer software, and electrodes/sensors. The electrodes/sensors segment is projected to register a considerable CAGR during the forecast period. The segment growth is attributed to growing advancements in sensors and electrodes that are used in neurofeedback therapies. The advanced electrodes and sensors are enabling improved own brain activity reading and provide high-quality data. Further, the manufacturers are implementing strategies for lowering the costs of sensors and electrodes with advanced features, which is also fueling the segment growth in the market.
On the basis of application, the neurofeedback market is segmented into anxiety, insomnia, attention deficit hyperactivity disorder (ADHD), depression, emotional regulation, pain management, epilepsy, mental fitness, schizophrenia, drug addiction, and others.
The attention deficit hyperactivity disorder (ADHD) segment is expected to register a robust growth rate during the forecast period. The rising prevalence of ADHD disorders across age groups, owing to lifestyle changes and mental health disorders is likely to propel the segment growth in the global neurofeedback market. Moreover, growing demand for treating ADHD through brain mapping therapy is expected to boost the segment in the coming years
On the basis of end-user, the global market is segregated into hospitals, neurocare clinics, scientific research, training institutes, and others. The neurocare clinics segment is projected to register a considerable CAGR during the forecast period owing to a preference for specialized treatments under the guidance of experienced neurologists. The availability of advanced technology devices is further boosting the neurocare clinics segment growth.
In terms of region, the global neurofeedback market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period owing to the availability of highly advanced healthcare infrastructure in the region. The adoption of cutting-edge technology devices for brain monitoring, sensors, electrodes, software, and other smart tools is enabling professionals to provide high-quality outcomes to patients. The rising mental health awareness is further boosting the neurofeedback market’s growth in the region.
The market in Asia Pacific is anticipated to expand at a rapid pace in the coming years. The presence of a large population pool and rising cases of insomnia, and brain dysfunctions in emerging economies such as India and China is furthering the demand for neurological treatments. Additionally, supportive policies from the governments for healthcare sector advancement and low-cost treatment factors are also aiding the neurofeedback market’s growth in the Asia Pacific.
Segments
The global neurofeedback market has been segmented on the basis of
System
- Slow Cortical Potential Neurofeedback
- Low-Energy Neurofeedback System
- Frequency/Power Neurofeedback System
- Hemoencephalographic Neurofeedback
- Low-Resolution Electromagnetic Tomography
- Live Z-Score Neurofeedback System
- Functional Magnetic Resonance Imaging
- Others
Product
- Amplifiers
- Computer Software
- Electrodes/Sensors
Application
- Anxiety
- Insomnia
- Attention Deficit Hyperactivity Disorder
- Depression
- Emotional Regulation
- Pain Management
- Epilepsy
- Mental Fitness
- Schizophrenia
- Drug Addiction
- Others
End-user
- Hospitals
- Neurocare Clinics
- Scientific Research
- Training Institutes
- Others
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- neurocare group AG
- Myndlift
- Mitsar Co. LTD.
- BrainworksNeurotherapy
- Mindfield Biosystems Ltd.
- BEE Medic
- EMOTIV
- Narbis
- BrainMaster Technologies
- Thought Technology Ltd.
- Mind Media USA Inc.
- TITAN Commerce Continental Services GmbH.
- InteraXon Inc.
- Medeia
- Wearable Sensing
- Macrotellect
- NeuroField Inc.
Competitive Landscape
The competitive landscape of the global neurofeedback market report provides key insights into the growth strategies and development initiatives implemented by the key players in the market.
Key players competing in the global neurofeedback market are neurocare group AG; Myndlift; Mitsar Co. LTD.; BrainworksNeurotherapy; Mindfield Biosystems Ltd.; BEE Medic; EMOTIV; Narbis; BrainMaster Technologies; Thought Technology Ltd.; Mind Media USA Inc.; TITAN Commerce Continental Services GmbH.; InteraXon Inc.; Medeia; Wearable Sensing; Macrotellect; and NeuroField Inc.
These major companies adopt various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
- On August 20, 2020, Narbis, headquartered in Ambler, Pennsylvania introduced smart glasses that could support kids as well as adults in improving their focus while learning or working from home. The smart glasses are dynamic and instantly change tint as soon as one loses focus on their current tasks. The glasses become clear once they determine that the focus is regained by the individual.
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