BRAIN HEALTH DEVICES MARKET ANALYSIS

Brain health devices, also known as brain monitoring devices, include magneto encephalograms, cerebral oximeters, electromyography (EMG) devices, deep brain stimulation systems (brain pacemaker), and other implantable brain devices. These devices are used to control and monitors the activity related to brain cell (neurons) functions that may cause neurological disorders such as Alzheimer’s, Parkinson’s, epilepsy, dementia, multiple sclerosis, sleep disorder, and brain tumor. These neurological conditions can be treated with drug therapies, however some surgical procedures are recommended in later stages of the condition.

Increasing demand for minimally-invasive treatment options in emerging economies is expected to drive the brain health devices market. Moreover, brain health devices are becoming an effective minimally-invasive therapy for Parkinson’s patients, which is providing manufacturers opportunities to gain significant market traction in emerging economies.

The global brain health devices market was valued at US$ 9,070.5 million in 2018, and is expected to witness a CAGR of 7.7% during the forecast period (2019–2026).

Figure 1. Global Brain Health Devices Market value Analysis (US$ Mn), By Device Type

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Source: Coherent Market Insights Analysis (2019)

Increasing number of regulatory approvals for brain health devices is expected to drive growth of the global brain health devices market

Most of hospitals and healthcare organizations implementing insertion of brain implants in patients who are at a risk of developing neurological disorders, in order to provide artificial control on the brain functioning. Moreover, regulatory approvals for innovative and advanced brain health devices is expected to propel the brain health devices market growth in the near future. For instance, in April 2019, GE Healthcare received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its Deep Learning Image Reconstruction engine on the new Revolution Apex computed tomography (CT) device. Deep Learning Image Reconstruction (DLIR), a next-generation image reconstruction option, uses a dedicated deep neural network (DNN) to generate TrueFidelity CT Images.

Rising incidence of Parkinson’s disease is expected to fuel the global brain health devices market growth

Rising incidence of Parkinson’s diseases (PD) is expected to boost growth of the brain health devices market over the forecast period. According to the Parkinson’s Disease Foundation 2017, annual incidence rate of PD in the U.S is as high as 60,000. Furthermore, according to Parkinson’s Australia Inc., around 11,544 new cases of PD were diagnosed in Australia in 2014.

Global Brain Health Devices Market- Regional Analysis

Regional segmentation of the global brain health devices market includes North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to hold a dominant position in the market, owing to increasing number of product approvals from the U.S. Food and Drug Administration to market products in North American countries. For instance, in July 2018, IRRAS AB received the 510(k) clearance from the U.S. Food and Drug Administration (FDA) for IRRAflow, which is an integrated, closed medical device system that enables controlled cerebrospinal fluid (CSF) management, as well as accurate, continuous monitoring of intracranial pressure (ICP).

Asia Pacific brain health devices market is expected to witness significant growth during the forecast period owing to high demand for technologically advanced products for brain dysfunctioning management, coupled with rising prevalence of neurological disorders in the region. For instance, according to the Dementia India 2017 report, India recorded the second largest incidence of dementia. As per report, there were an estimated 4.1 million people suffering from dementia in 2017.

Europe is expected to exhibit significant growth rate owing to approvals by regulatory authorities for brain health devices. For instance, in January 2017, Neural Analytics Inc. received the CE marking for its Lucid M1 Transcranial Doppler Ultrasound System, which is a portable all-in-one ultrasound system designed for rapid triaging and monitoring of patients with brain disorders.

Figure 2: Global Brain Health Devices Market Value (US$ Mn), By Region

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Source: Coherent Market Insights Analysis (2019)

Global Brain Health Devices Market - Competitive Landscape

Key players operating in the global brain health devices market include 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.