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Phase-Xs | Biologics & Biosimilars | Coherent Market Insights

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.

Brain computer interface (BCI) is an emerging technology, which provides a direct communication between the brain and external device bypassing the normal neuromuscular pathways and helps in detecting and diagnosing various brain disorders such as epilepsy, brain tumors, as well as can restore the impaired motor functions.

The increasing prevalence of brain disorders, brain tumors, and disabilities due to stroke is expected to drive growth of the global brain computer interface market over the forecast period.

For instance, according to the study by Epilepsy Action Australia statistics in 2017, around 50 million people globally had epilepsy with around 80% of the people living in emerging economies such as India, Brazil, and China.

The global brain computer interface market is estimated to be valued at US$ 773.0 million in 2021 and is expected to exhibit a CAGR of 11.4% over the forecast period (2021-2028).

Figure 1. Global Brain Computer Interface Market Share (%) in Terms of Value, By Region, 2021

Brain Computer Interface  | Coherent Market Insights

Increasing investment & funding to accelerate researches in the field of brain computer interface is expected to drive the market growth over the forecast period

Market players are focusing on various growth strategies such as investments and funding to accelerate researches in the field of brain computer interface, which is expected to boost growth of the global brain computer interface market over the forecast period.

For instance, in December 2020, researchers of Bioelectronics Laboratory of Department of Engineering, University of Cambridge received funding from the European Innovation Council (EIC) for their project MITICS – Mixed Ionic and electronic transport in conjugated polymers for bioelectronics, which is being carried out to develop microelectronics, in order to enhance signal quality of a new generation of less invasive brain-computer interfaces (BCIs).

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Brain Computer Interface Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 773.0 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 11.4% 2028 Value Projection: US$ 1,649.9 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Product: Invasive, Non-invasive, Semi-invasive
  • By Application: Prevention, Detection and Diagnosis, Rehabilitation and Restoration
  • By End User: Hospitals, Academic Institutes, Research Institutes
Companies covered:

Neuralink Corporation, Neurable, Emotiv Inc., BitBrain, Alpha Omega, Blackrock Microsystems, LLC, Femtonics Ltd, NeuroNexus, Opto Circuits (India) Limited, BIOTRONIK, Plexon Inc., Noldus Information Technology, NextMind, Nectome, and Paradromics

Growth Drivers:
  • Increasing investment & funding to accelerate researches in the field of brain computer interface 
  • Increasing prevalence of brain disorder
Restraints & Challenges:
  • Challenges associated with brain computer interface

Figure 2. Global Brain Computer Interface Market Share (%), by Product, 2021

Brain Computer Interface  | Coherent Market Insights

The increasing prevalence of brain tumors is another major factor, which is expected to drive the market growth. For instance, according to the National Brain Tumor Society, a non-profit organization in the U.S., around 84,170 cases of primary brain tumor are expected to be diagnosed in 2021 in the U.S., out of which around 59,040 tumors are estimated to be benign (non-malignant), while 25,130 will be malignant.

Global Brain Computer Interface Market – Impact of Coronavirus (Covid-19) Pandemic

The lockdown imposed in most of the countries has placed an economic burden on the private healthcare sector. Healthcare providers are facing challenges in terms of additional manpower, equipment, consumables, and other resources required to ensure safety in hospitals and to provide treatment to patients with other diseases.

Moreover, the coronavirus pandemic has hampered the development, production, and supply of drugs and other healthcare products, and affected growth of healthcare businesses of various companies across the globe.

Considering the implication of social distancing measure, the footfall in clinics and health institutions has fallen by over 70% during this pandemic. Owing to this, the adoption of digital health services has increased by three-fold.

However, healthcare IT industry has witnessed paradigm shift in the adoption of healthcare IT solutions across the ecosystem including drug discovery, drug development, diagnostics, data management, marketing, and patient engagement. Artificial Intelligence, electronic health record (EHR), revenue cycle management, reimbursement data management, and clinical data management solutions are being rapidly adopted by companies, including Contract research organization (CROs), insurers, diagnostics, and research institutes for remote data monitoring.

Global Brain Computer Interface Market Restraint

Brain computer interfaces technology has proven to be useful for both medical as well as non-medical fields such as smart environment, games, safety, and others. However, there are several challenges associated with the technology, which can hinder the market growth in the near future. The challenges are summarized in the following categories:

Neuro-psycho-physiological issues: Brain is the most complex organ of human body. Hence, the genetic complexity and diversity of brain creates neurological challenges, while using the brain computer interfaces technology. Psychological challenges include parameters such as attention, fatigue, stress, and other emotions, which depend on individual personality.

Key Players

Major players operating in the global brain computer interface market include Neuralink Corporation, Neurable, Emotiv Inc., BitBrain, Alpha Omega, Blackrock Microsystems, LLC, Femtonics Ltd, NeuroNexus, Opto Circuits (India) Limited, BIOTRONIK, Plexon Inc., Noldus Information Technology, NextMind, Nectome, and Paradromics

Brain computer interface is a technology, which receives, analyzes, and transfers signals from brain to output commands to achieve certain task such as restoration of movement and communication strength for physically disabled patients in order to rehabilitate their lost motor abilities. Brain computer interfaces can be divided into following categories: Event related de-synchronization (ERD-BCI) and synchronization (ERS-BCI), Exogenous BCI and endogenous BCI and Active BCIs, Reactive BCI, and Passive BCI.

Market Dynamics

Increasing prevalence of neurological disorder is expected to drive the market growth over the forecast period.

Moreover, according to the World Health Organization (WHO), around one-third of children with epilepsy can be assigned to a specific epilepsy syndrome, as defined by the most recently proposed system for organization of epilepsy syndrome. For instance, according to the Society of Neuroscience, in 2015, epilepsy affected around 10.5 million children worldwide, and the types and severity of the disorder varied significantly. Moreover, according to the American Academy of Pediatrics data published in April 2017, epilepsy affects 0.5% to 1% of children globally and is the most frequently occurring chronic neurologic condition in childhood.

Key features of the study:

  • This report provides in-depth analysis of the global brain computer interface market , and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global brain computer interface market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Neuralink Corporation, Neurable. Emotiv Inc., BitBrain, Alpha Omega, Blackrock Microsystems, LLC, Femtonics Ltd., NeuroNexus, Opto Circuits (India) Limited, BIOTRONIK, Plexon Inc., Noldus Information Technology, NextMind, Nectome, and Paradromics
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global brain computer interface market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global brain computer interface market

Detailed Segmentation:

  • Global Brain Computer Interface Market, By Product:
    • Invasive
    • Non-invasive
    • Semi-invasive
  • Global Brain Computer Interface Market, By Application:
    • Prevention
    • Detection and Diagnosis
    • Rehabilitation and Restoration
  • Global Brain Computer Interface Market, By End User:
    • Hospitals
    • Academic Institutes
    • Research Institutes
  • Global Brain Computer Interface Market, By Region:
    • North America
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Product
        • Invasive
        • Non-invasive
        • Semi-invasive
      • By Application
        • Prevention
        • Detection and Diagnosis
        • Rehabilitation and Restoration
      • By End User
        • Hospitals
        • Academic Institutes
        • Research Institutes
      • By Region/Country
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Neuralink Corporation*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Neurable
    • Emotiv Inc.
    • BitBrain
    • Alpha Omega
    • Blackrock Microsystems, LLC
    • Femtonics Ltd.
    • NeuroNexus
    • Opto Circuits (India) Limited
    • BIOTRONIK
    • Plexon Inc.
    • Noldus Information Technology
    • NextMind
    • Nectome
    • Paradromics

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Product
      • Market Snippet, By Application
      • Market Snippet, By End User
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Overview of Brain Computer Interface
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Market Trends
    • Impact Analysis
    • Recent Product Approval/Launch
    • Mergers, Acquisitions and Collaboration Scenario
    • Mind Uploading
    • Porter’s Analysis
  4. Global Brain Computer Interface Market – Impact of Coronavirus (Covid-19) Pandemic
    • COVID-19 Epidemiology
    • Impact of COVID-19 on Overall Healthcare Market
    • Impact of COVID-19 on Brain Computer Interface Market
  5. Global Brain Computer Interface Market, By Product, 2021 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2018 – 2028
      • Segment Trends
    • Invasive
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Non-invasive
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Semi-invasive
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
  6. Global Brain Computer Interface Market, By Application, 2021 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2018 – 2028
      • Segment Trends
    • Prevention
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Detection and Diagnosis
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Rehabilitation and Restoration
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
  7. Global Brain Computer Interface Market, By End User, 2021 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2018 – 2028
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Academic Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
    • Research Institutes
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2021 – 2028, (US$ Mn)
  8. Global Brain Computer Interface Market, By Region, 2021 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2028
    • North America
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country, 2021 – 2028, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country, 2021 – 2028, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country, 2021 – 2028, (US$ Mn)
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country, 2021 – 2028, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country, 2021 – 2028, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Market Size and Forecast, By Product, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Application, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By End User, 2021 – 2028, (US$ Mn)
      • Market Size and Forecast, By Country/Region, 2021 – 2028, (US$ Mn)
        • South Africa
        • Central Africa
        • North Africa
  9. Competitive Landscape
    • Market Share Analysis
      • Neuralink Corporation*
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Neurable
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Emotiv Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BitBrain
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Alpha Omega
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Blackrock Microsystems, LLC
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Femtonics Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • NeuroNexus
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Opto Circuits (India) Limited
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • BIOTRONIK
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Plexon Inc.
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Noldus Information Technology
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • NextMind
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Nectome
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
      • Paradromics
        • Company Overview
        • Product Portfolio
        • Financial Overview
        • Key Highlights
        • Market Strategies
  10. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 36 market data tables and 29 figures on "Brain Computer Interface Market” - Global forecast to 2028

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Frequently Asked Questions

The market size is estimated to be valued at US$ 773.0 million in 2021 and is expected to exhibit a CAGR of 11.4% between 2021 and 2028.
Increasing investment & funding to accelerate researches in the field of brain computer interface and increasing prevalence of brain disorders are expected to drive the market growth over the forecast period.
Non-invasive product segment is expected to hold the major market share during the forecast period.
North America is expected to hold the largest market share in the global brain computer interface market.
Major factors hampering growth of the market include challenges associated with brain computer interface.
Major players operating in the market include Neuralink Corporation, Neurable, Emotiv Inc., BitBrain, Alpha Omega, Blackrock Microsystems, LLC, Femtonics Ltd, NeuroNexus, Opto Circuits (India) Limited, BIOTRONIK, Plexon Inc., Noldus Information Technology, NextMind, Nectome, and Paradromics
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