Recent Development in Electroencephalography Industry

In January of 2024, Gate made an investment in strategic alliance with Beacon for incorporating EEG biomarkers within its Phase II trial of MDD. It will use the highly advanced Dreem 3S headband device of Beacon for accurate EEG and sleep monitoring within the trial. The partnership is for the purpose of exploring the relationship between brain activity and MDD symptoms and delivering matching insights that can provide valuable information to the body of knowledge relative to the condition.

Dreem 3S equipment will be employed to track participants' brainwaves and sleep patterns, and this data is essential for the trial. Gate's Phase II trial, scheduled to begin in mid-2024, is for zelquistine, a potential drug for the treatment of MDD. By employing EEG biomarkers in the trial, Gate aims to become more accurate in its treatment approach and uncover new targets for personalized treatments. The partnership is a proof that the importance of EEG technology is growing in order to power mental health research and treatment developments.

In January 2024, Aditxt, an American biotech firm, entered into an agreement with Brain Scientific to buy the EEG brain monitoring devices and technology of the company. The agreement includes a portfolio of 16 patents with breakthrough products such as the disposable NeuroCap and portable NeuroEEG. The tools are meant to enhance EEG monitoring using more comfortable, cost-efficient, and readily available methods for brain activity examination.

The NeuroCap is an EEG system, disposable and wearable, which facilitates easy deployment across clinical and research settings, and the portable NeuroEEG offers a convenient and portable solution for continuous brain monitoring. This purchase further solidifies Aditxt's presence in the EEG technology space and diversifies its products, in line with its mission to drive health diagnostics forward. The integration of such patented technologies is designed to drive Aditxt's innovation efforts, specifically neurological monitoring as well as brain health.

In July 2023, the Bath and Bristol universities were granted a major boost of USD 1.5 million in funding to aid the creation of a user-friendly Fastball EEG test that will help enhance early diagnosis of dementia and Alzheimer's disease. The money is likely to speed up the development of the Fastball EEG test, which will make the detection of cognitive decline easier by monitoring brain activity. The test uses EEG technology to record and measure brainwave patterns, providing a non-invasive, accessible diagnostic tool for clinicians to identify early indicators of neurodegenerative diseases.

The project is particularly targeted at providing families and patients with a cheap and easy-to-use diagnostic instrument that can lead to earlier intervention and better management of disease. The investment represents a significant leap towards enhancing the precision and accessibility of diagnostic procedures for dementia and Alzheimer's and the possibility to positively impact the lives of millions of people around the world.

The global electroencephalography (EEG) devices industry size is anticipated to be approximately USD 2.2 billion as of 2027, exhibiting a compound annual growth rate (CAGR) of 7.8% during the forecasting period.

These developments are dominated primarily by an increase in the incidence of neurological diseases such as epilepsy, Alzheimer's, and dementias, thereby driving demand for effective diagnosis equipment. The technological improvements in EEG equipment, along with the integration of AI, and the emergence of portable and wireless devices, have improved access and ease of use, further contributing to market growth. The growing focus on early diagnosis and preventive medicine has also resulted in increased use of EEG devices in clinical and research communities, as AI integration enhances diagnostic accuracy and efficiency.

Sources:

Company: Aditxt

Organization: University of Bath