Wireless Brain Sensors Market Share & Growth | Forecast 2031

Report Description

Wireless Brain Sensors Market Outlook 2031

The global wireless brain sensors market size was USD 738.80 Million in 2022 and is anticipated to reach USD 1.60 Billion by 2031 expand at substantial CAGR of 9% during the forecast period, between 2023 - 2031. Wireless brain sensors are tiny devices implanted to monitor patients with traumatic brain injuries. Wireless brain sensors are capable of detecting brain temperature, pH, pressure inside the brain, and other brain activities.

All these activities are reflected in the form of waves by electrical transmission within the brain. The wireless brain sensors are mostly used to catch the early sign of brain swelling, which is treated by a neurologist before leading to irreversible brain injury, and either vegetative state or death of a person. There are two types of wireless brain sensors devices, namely, biocompatible and non-biocompatible.

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Biocompatible easily dissolves inside the body over a period of time by increasing the risk of chronic inflammation, infection, and skin erosion to the organ in which it is placed. Resorbable or non-biocompatible devices require the need of surgery for retrieving the sensors from the body, which reduce the risk of infection and other complications. Hence, wireless brain sensors offer high performance by providing accurate results with clinically relevant operations.

Wireless Brain Sensors Market Trends, Drivers, Restraints, and Opportunities:

• Rising awareness related to Traumatic Brain Injuries (TBI) that increases the occurrence of morality, and morbidity are boosting the wireless brain sensors market.
• Increasing adoption of unhealthy lifestyle choices such as addictive consumption alcohols, smoking, and lack of sleep and exercise that migraine and heart stroke are driving the market.
• Growing number of road accidents, sports, and recreational activities that contribute to TBI among adults as well as children are propelling the market. 
• Lack of skilled technicians and huge cost incurred by wireless brain sensors devices, and expensive sensor implementation process are hampering the market.    
• Low adoption of updated technologies and advanced healthcare facilities associated with poor healthcare ecosystem and reimbursement facilities are restricting the growth of the market.
• Increasing government initiatives such as campaigns and workshops for spreading awareness related to neurological disorders and diseases are generating potential opportunities for the market to grow. 
• Growing number of clinical trials and increasing investment in research and development activities by major players in the market is expected to create opportunities for the market to grow in the near future.    

Scope of The Wireless Brain Sensors Market Report:

The report on the global wireless brain sensors market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Wireless Brain Sensors Market Segment Insights:

Electroencephalography (EEG) segment to hold significant market share

In terms of products, the wireless brain sensors market is segmented into Electroencephalography (EEG) devices, Intracranial Pressure (ICP) Monitors, Sleep Monitoring devices, Transcranial Doppler (TCD) devices, and others. The Electroencephalography (EEG) devices segment held a considerable share of the market in 2020, owing to adoption of Electroencephalography (EEG) devices to record the electrical activity of the brain for purpose of digitization and amplification of collected signals.

These signals are further sent to computer or mobile for storing and processing the data. Moreover, Electroencephalography (EEG) devices are used by a person for monitoring emotions and moods to improve mental health and well-being. Hence, Electroencephalography (EEG) devices are widely used to prevent brain injuries, which helps the segment to expand at significant CAGR during the forecast period.

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Others segment held substantial market share in 2020

Based on applications, the wireless brain sensors market is fragmented into dementia, epilepsy, Parkinson’s Disease, traumatic brain injuries, and others. The other segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period.

The others segment includes brain injuries or diseases or disorders such as stroke, migraine, Huntington’s disease, and sleep disorders. Increasing number of strokes and migraine among all age groups globally is promoting growth of the wireless brain sensors market.

The traumatic brain injuries segments is estimated to register rapid growth, due to rising awareness among people in order to maintain mental as well as physical health, development of rehabilitation centers, and government initiatives to spread awareness regarding brain injury and its treatment.  

Multispecialty Hospitals segment to grow during the forecast period

On the basis of end-users, the wireless brain sensors market is segregated into multispecialty hospitals, research institutes, trauma centers, and others. The multispecialty hospitals segment is expected to hold a significant share of the market during the forecast period, due to adoption of advanced technologies and infrastructural development to provide treatment.

The brain examination or monitoring treatment associated with process complexities need to be handled carefully, and require specialized treatment with trained professionals and working updated equipment. Mostly, all neurological diseases are treated with advanced equipment that is available only in specialized licensed hospitals. Hence, multispecialty hospitals are always equipped with disease expert teams, which is anticipated to propel the segment in the coming years.

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North America estimated to account for significant market share

In terms of regions, the global wireless brain sensors market is split into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America constituted a significant share of the market in 2020, due to mergers and acquisitions conducted by key market players. North America is dominating the overall market, due to increasing traumatic brain injuries, and favorable polices, rules, and regulations imposed by the government to medical and healthcare sectors.

Furthermore, presence of major medical devices companies and continuous spending by government in research and development activities to enhance the clinical, medical, and healthcare sector with improved solutions is driving the market in North America.

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