The global Brain Health Devices Market Growth Accelerated by Rising Awareness of Brain Health Products

Brain health devices help in monitoring and detecting neurological disorders and improvements in brain functions. Brain health devices such as electroencephalogram (EEG), magnetoencephalography (MEG), transcranial magnetic stimulation (TMS), and transcranial electrical stimulation (TES) are highly useful for measuring brain activity and treatment of various brain-related conditions such as depression, PTSD, Alzheimer's disease, dementia, epilepsy, and others.

The global Brain Health Devices Market is estimated to be valued at US$ 9,070.5 million in 2023 and is expected to exhibit a CAGR of 7.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rising prevalence of neurological disorders among the aging population globally is fueling the demand for brain health devices for effective diagnosis and treatment. According to WHO, nearly 50 million people suffer from dementia worldwide, with nearly 10 million new cases every year. Such high prevalence has accelerated awareness campaigns regarding brain health and care. This has created potential growth opportunities for manufacturers of brain health devices as people are increasingly undergoing brain checkups to detect cognitive decline at an early stage. Advancements in neurological devices have made them affordable and portable for personal use to monitor brain activity regularly. This growing acceptability of wearable brain health devices is one of the major market trends propelling the brain health devices market growth.
Segment Analysis

The global brain health devices market is dominated by the electroencephalography (EEG) sub-segment. EEG devices measure electrical activity in the brain using electrodes placed on the scalp. These devices are highly preferred for diagnosing brain health conditions such as sleep disorders, epilepsy, seizures, brain death, and others. EEG devices provide accurate, cost-effective, and non-invasive techniques for accessing brain health. Hence, this sub-segment acquires the largest market share.

Key Takeaways
The global brain health devices market is expected to witness high growth over the forecast period owing to a rise in neurological disorders and increasing adoption of brain monitoring devices.

North America dominates the global brain health devices market currently and is anticipated to maintain its lead over the forecast period. This is attributed to the presence of major players, well-established healthcare infrastructure, and high healthcare expenditure. For instance, according to the Centers for Disease Control and Prevention, over 50 million Americans suffer from neurological disorders each year.

Asia Pacific is projected to showcase the highest growth rate over the coming years due to growing awareness regarding brain health devices, increasing healthcare spending, and presence of untapped opportunities. Rising disposable incomes and improving access to advanced treatment are also contributing to the regional market growth.

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 companies are focusing on new product launches, technological advancements, and mergers & acquisitions to strengthen their market positions globally.

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