In a recently published report, Wireless Brain Sensor Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wireless Brain Sensor Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Wireless Brain Sensor Market is valued at approximately USD 360 million in 2019 and is anticipated to grow with a healthy growth rate of more than 9.5% over the forecast period 2020-2027. Wireless brain sensor is a type of device that monitor intracranial temperature and pressure within the patient’s skull suffering from severe traumatic brain injuries, even patients with Parkinson diseases (PD). The prime aim of the wireless brain sensor is of safeguarding the patient from emergency situations. These devices often help in monitoring and observing the neurological deviations and offer support for enhancing the cognitive functionalities. Also, the accessibility of these sensor is quite easy from a remote area via a wireless connectivity and can incorporated with smart devices, such as smartphones, tablets, and other. Consequently, it can be monitored intermittently from a homecare environment thus creating the device more cost-efficient, thereby aiding the market growth worldwide. Furthermore, the surge in incidence of brain related disorder due to growing geriatric population, along with growing technological advancements in sensor are the few factors responsible for the CAGR of the market during the forecast period.
According to the study of Global Burden of Disease 2015, the global prevalence of Parkinson’s diseases is approximately 6.2 million people and it would reach nearly 13 million people with Parkinson’s by the year 2040. Also, numerous Parkinson’s Disease Foundation reveals that roughly 60,000 Americans are diagnosed with PD each year. Thus, the rise in cases of brain related disorder is likely to promote the adoption of the wireless brain sensor all over the world. However, the stringent validation and safety regulations as well as compatibility issues regarding the product are the major factors that restricts the market growth over the forecast period of 2020-2027.
The regional analysis of the global Wireless Brain Sensor market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rise in number of neurological disorders, along with the large presence of market vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rise in in burden of brain-related disorder due to growing geriatric population, coupled with surging adoption wireless brain sensor across developing countries, such as China and India, would create lucrative growth prospects for the Wireless Brain Sensor market across the Asia-Pacific region.
Major market player included in this report are:
Advanced Brain Monitoring, Inc.
Brain Products GmbH
Neuronetrix Solutions, LLC
Hangzhou Zhongheng Electric Co., Ltd.
Natus Medical Incorporated
Koninklijke Philips N.V.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Electroencephalography (EEG) devices
Sleep Monitoring Devices
Magnetoencephalography (MEG) devices
Transcranial Doppler (TCD) devices
Intracranial pressure (ICP) monitors
Traumatic Brain Injuries
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Wireless Brain Sensor Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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