Wearable Brain Devices Market To Reach USD 895.1 Billion By 2032, Says DataHorizzon Research
The wearable brain devices market size was valued at USD 285.1 Billion in 2023 and is expected to reach a market size of USD 895.1 Billion by 2032 at a CAGR of 13.6%.
Fort Collins, Colorado, May 06, 2024 (GLOBE NEWSWIRE) --*The growing prevalence of neurological disorders in the population encourages industry developments.*
The rising prevalence of neurological disorders and neurodegenerative conditions such as Alzheimer’s, dementia, epilepsy, Parkinson’s disease, and seizures is fueling the demand for *wearable brain devices* in the market. With a considerable increase in the elderly population, there is expected to be a rise in the number of Alzheimer's and dementia patients, thereby contributing to the growth of the wearable brain devices market. Additionally, there is a noticeable trend towards non-invasive procedures, driven by patient preference for trauma-free treatments, further expanding the opportunities for development in the wearable brain devices market.
Furthermore, there is a growing acceptance of wearable devices compared to the traditional reliance on basic treatment methods. The COVID-19 pandemic has also significantly impacted the adoption of wearable devices, with hospitals and clinics endorsing their use as effective alternatives for addressing brain-related issues. With the ongoing technological advancements, major players are investing in research and development to launch innovative devices, thereby creating opportunities for the global wearable brain devices market.
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*Segmentation Overview:*
*The wearable brain devices market has been segmented into application, channel, end-user, and region.*
*32 Channel Type dominates the channel segment.*
· The channel type segment is divided into five segments – multi-channel, 5 channel type, 12 channel type, 14 channel type, 32 channel type and others. 32 channel type accounts for the largest market share attributing to technological advancement, high accuracy rate, portability, and ease of convenience are some factors anticipating market growth.
*Epilepsy is the leading application segment and is projected to retain a prominent position in the coming years.*
· Based on application, the wearable brain devices market segmentation comprises epilepsy, traumatic brain enquiry (TBE), and AR/VR Gaming settings. The Epilepsy segment is the dominant segment, holding the highest market share. This is mainly due to the increasing number of epilepsy cases worldwide.
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*Wearable Brain Devices Market Report Highlights:*
· The wearable brain devices market growth is anticipated at a *CAGR of 13.6% by 2032.*
· A wearable brain device is a mapping device that helps study the different aspects of brain activities. Such devices measure brain activities related to the brain’s functioning, such as gaze analysis, cognition, gait, sleep patterns, and others, with the help of electroencephalography or EEG.
· North America dominates the market due to various regions like technological advancements, rising prevalence of Neurological diseases, and growing population awareness.
· Some prominent players in the wearable brain devices market report include Neurolief, EMOTIV, Kernel, BioSerenity, Dreem, COGNIONICS, INC, NextMind, Brain Scientific, Bitbrain Technologies, and Cadwell Industries Inc.
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*About DataHorizzon Research:*
DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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