Impact Analysis of Covid-19
The complete version of the REPORT will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Increasing cases of neurological disorders, which include depression, anxiety, ADHD, and other dementias are expected to boost the biofeedback measurement instrument market growth during the forecast period. For instance, according to the World Alzheimer Report published by Alzheimer’s Disease International (ADI), in 2015, the new dementia cases across regions were 4.9 million (49.0%) in Asia Pacific, 2.5 million (25.0%) in Europe, 1.7 million (18.0%) in the Americas, and 0.8 million (8.0%) in Africa. Furthermore, according to the Parkinson's UK, in 2015 around 137,000 people suffered from Parkinson’s in the U.K.
Parkinson’s disease is the second most common age-related neurodegenerative disorder after Alzheimer’s disease. For instance, according to the Parkinson's UK, in 2015, the estimated number of people suffering with Parkinson’s disease in Northern Ireland was 241, in which 157 were male and 85 were female.
The global biofeedback measurement instrument market size was valued at US$ 148.68 million in 2019, and is expected to exhibit a CAGR of 6.2% over the forecast period (2020-2027).
Figure 1. Global Biofeedback Measurement Instrument Market Value (US$ Mn), by Region, 2020
The rising number of neurological disorders is expected to drive growth of the market during the forecast period
The growing number of neurological disorders is expected to boost the market growth during the forecast period. According to the study of Global Burden of Disease, in 2017, 46 million people were living with bipolar disorder.
Similarly, according to the study of Global Burden of Disease, in 2017, 20 million individuals were suffering from schizophrenia.
Figure 2. Global Biofeedback Measurement Instrument Market Share (%), by Type, 2020 and 2027
Source: Coherent Market Insights Analysis (2020)
Global Biofeedback Measurement Instrument Market- Regional Insights
North America is expected to hold dominant position in the market owing to a large number of neurological disorders cases. According to the study of Global Burden of Disease, in 2017, 9.3% males and 11.9% females were suffering from mental health disorders. The study also states that 2.7% males and 4.1% females had depression.
Moreover, Europe is expected to hold the second largest market share during the forecast period owing to a rising number of mental disorders. According to the Mental Health Foundation, in 2013, around 8.2 million cases of anxiety disorder diagnosed in the U.K. Similarly, according to the Organisation for Economic Co-operation and Development’s European Union 2018 Report, around 84 million people in Europe had mental health problems.
Major players operating in the global biofeedback measurement instrument market are Thought Technology Ltd., ELMIKO, Mind Media, Laborie, Behavioral Medicine Associates, Inc., Neurocare Group Gmbh., Allengers Medical Systems, BrainMaster Technologies, Inc., Quantum World Vision, NCC Medical, Qxsubspace, and others.