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  • Published On : Jan 2023
  • Code : CMI5506
  • Industry : Medical Devices
  • Pages : 170
  • Formats :

The global neurofeedback systems market was valued at US$ 1,069.6 Mn in 2021 and is forecast to reach a value of US$ 1,779.7 Mn by 2028 at a CAGR of 7.6% between 2022 and 2028. The global neurofeedback systems market is experiencing strong growth due to the increase in burden of neurogenerative diseases and increasing incidence of brain dysfunction worldwide. Moreover, increase in demand for neurofeedback systems and rise in burden of attention deficit hyperactivity disorder is expected to boost the growth of the market. However, factors such as time consuming procedure and high cost of neurofeedback system are expected to hamper growth of the market.

Global Neurofeedback Systems Market: Regional Insights

Based on geography, the global neurofeedback systems market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market over the forecast period due to the increasing prevalence of neurogenerative disorders, like Parkinson’s disease and Alzheimer’s disease, and technological advancements in brain monitoring. For instance, according to the Alzheimer's Association, the number of Americans living with Alzheimer's is growing and growing fast. More than 6 million Americans of all ages have Alzheimer's. Alzheimer's disease is a progressive neurologic disorder that causes the brain to shrink (atrophy) and brain cells to die. This in turn is driving the growth of the market in the region.

Europe is also expected to witness robust growth in the global neurofeedback systems market due to the increase in prevalence of brain disorders and growing geriatric population in the region. For instance, according to the Parkinson’s Europe, there are currently around 1.2 million people living with Parkinson's disease (PD) in Europe and this number is forecast to double by 2030. Parkinson's disease is also the highly individual condition that differs from person to person, which requires a personalised approach to treatment and care. Parkinson's Europe (European Parkinson's Disease Association (EPDA)) is the only European Parkinson's umbrella organisation.

Figure 1. Global Neurofeedback Systems Market Share (%), by Region, 2022

Neurofeedback Systems  | Coherent Market Insights

Global Neurofeedback Systems Market Drivers:

Rise in burden of neurogenerative diseases to underpin market growth

One of the key factors expected to augment the growth of the global neurofeedback systems market is the increase in incidence of neurogenerative diseases around the world. For instance, according to the World Health Organization (WHO), in 2021, more than 55 million people were living with dementia around the world, and there are over 10 million new cases every year. Alzheimer’s is the most common form of dementia and may contribute to 60-70% of the cases. Thus, with the increase in prevalence of such disorders, the market is also growing rapidly.

Increasing burden of brain dysfunction to augment market growth

Another factor which is driving the growth of the global neurofeedback systems market over the forecast period is the increasing incidence of brain dysfunction worldwide. Neurofeedback system can be used for the treatment of many brain dysfunctions such as anxiety disorder, epilepsy, pain, and others. In September 2022, Myndlift completed a retrospective study using the real-world data that offers preliminary efficacy of remote neurofeedback therapy (NFT) on improved mental health outcomes from 593 participants, supporting disorders such as attention-deficit/hyperactivity disorder (ADHD), anxiety, and depression.

Global Neurofeedback Systems Market Opportunities:

Increase in demand for neurofeedback systems across the globe is expected to provide significant growth opportunities for players in the global neurofeedback systems market. For instance, with the increasing burden of neurological disorders, the use of neurofeedback is also increasing with a rapid pace. In August 2022, Myneurva announced the launch of Starrbase a fully integrated system of its Advanced Neural Network Analysis (ANNA). Myneurva offer concierge-based Quantitative Electroencephalogram and Neurofeedback to anyone with a brain and with the internet connection around the globe. This in turn is driving the market growth.

Increase in burden of attention deficit hyperactivity disorder (ADHD) is expected to offer lucrative growth opportunities for players in the global neurofeedback systems market. For instance, several studies show the efficacy of neurofeedback systems for ADHD, indicating a growing need to adopt these systems for ADHD. For instance, according to NIHR Maudsley Biomedical Research Centre, a May 2020 published study has led to the Medical Research Council funding GBP 1.3 million for a larger trial with 100 children with ADHD, to compare fMRI-neurofeedback to the placebo that is not related to their own brain activity.

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Neurofeedback Systems Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 1,146.6 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2028
Forecast Period 2022 to 2028 CAGR: 7.6% 2028 Value Projection: US$ 1,779.7 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 Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Application: Attention Deficit Hyperactivity Disorder (ADHD), Pain Management, Insomnia, Anxiety Disorder, and Other Diseases
Companies covered:

Neurocare Group AG, Bee Medic Gmbh, Thought Tech Ltd., and Mind Media BV, among others.

Growth Drivers:
  • Increase in burden of neurogenerative diseases  worldwide
  • Increasing incidence of brain dysfunction around the world
Restraints & Challenges:
  • Time consuming procedure
  • High cost of neurofeedback system

Global Neurofeedback Systems Market Trends:

Technological advancements is a recent trend

Technological advancements and its rising applications in the healthcare sector are paving the way for the development of novel products. Thus, players in the market are focusing on launching and developing novel products in the market. Moreover, the rising burden of neurological dysfunction around the world and increasing demand for innovative products to map neurological disease over the forecast period are also expected to boost the market. This in turn is expected to continue during the forecast period, driving the growth of the market.

Rising awareness among people is another trend

Alzheimer's disease is the most common cause of dementia among older adults. While, Parkinson's disease is the second common progressive neurodegenerative disease and is prevalent across the world. Thus, it is essential to be aware about such disorders. Every June, Alzheimer's Association raises awareness of this neurodegenerative disease during Alzheimer's & Brain Awareness Month. While, April is the Parkinson's Disease Awareness Month. This trend is also expected to continue over the forecast period, driving the growth of the market.

Global Neurofeedback Systems Market Restraints:

Time consuming procedure to hinder market growth

One of the key factors expected to hamper the growth of the global neurofeedback systems market is the time consuming procedure. Neurofeedback is the method that helps control brain waves, and neurofeedback systems are medical devices that help the subject to consciously control their brain, but these procedures are very time-consuming. This in turn is expected to have a negative impact on the growth of the global neurofeedback systems market.

High cost of neurofeedback system to hamper market growth

Another factor which is hampering the growth of the global neurofeedback systems market is the high cost of neurofeedback system. Neurofeedback is a method that assists subjects in controlling their brain waves consciously, and neurofeedback systems are the devices that assist the subject to consciously control their brain, but these devices/systems are very costly. This in turn is expected to have a negative impact on the growth of the market.

Figure 2. Global Neurofeedback Systems Market Share (%), by Application, 2022

Neurofeedback Systems  | Coherent Market Insights

Global Neurofeedback Systems Market Segmentation:

The global neurofeedback systems market report is segmented into Application and Geography.

Based on Application, the market is segmented into Attention Deficit Hyperactivity Disorder (ADHD), Pain Management, Insomnia, Anxiety Disorder, and Other Diseases. Out of which, Attention Deficit Hyperactivity Disorder (ADHD) Segment is expected to dominate the market during the forecast period and this is attributed to the rise in prevalence of ADHD, as the demand for neurofeedback systems for the study and treatment of ADHD is also increasing.

Pain Management Segment is also expected to witness significant growth in the near future and this is owing to the increase in use of neurofeedback systems in pain management. Neurofeedback aims to change brain activity that is thought to underlie or influence the experience of pain.

Global Neurofeedback Systems Market: Key Developments

In October 2021, Sens.ai planned to launch its wearable headset to treat stress by measuring heart rate variability. The system trains and stimulates the central nervous system through audio-visual cues and light therapy with real-time reading and adapting to both the heart and brain's activity. It helps in calming the nervous system for sound sleep and builds memory capacity.

In September 2021, NeuroWave Systems received approval from the Food & Drug Administration (FDA) for NeuroSENSE NS-901 Monitor. It is a brain function monitor for assessing the adequacy of anesthesia and sedation in clinical settings and monitoring the state of the brain in anesthetized patients (18 years of age and older).

In December 2020, AlphaBeats received an investment from LUMO labs to develop a system that combines neurofeedback technology with music to reduce effects of stress. This technology helps analyze real-time brain activity to adjust the music to bring the brain into a relaxed state.

Global Neurofeedback Systems Market: Key Companies Insights

The global neurofeedback systems market is highly competitive. This is attributed to the increase in prevalence/burden of neurological disorders, as a result, players in the market are focusing on developing and launching novel products in the market.

Some of the key players in the global neurofeedback systems market are Neurocare Group AG, Bee Medic Gmbh, Thought Tech Ltd., and Mind Media BV, among others.

*Definition: Neurofeedback systems are used to treat a variety of conditions, such as attention-deficit/hyperactivity disorder (ADHD), depression, anxiety, epilepsy, and sleep disorders. It is also used to improve creative performance and enhance concentration.

Neurofeedback systems are used to treat variety of conditions, like attention-deficit/hyperactivity disorder (ADHD), anxiety, depression, epilepsy, and sleep disorder. They are also used to improve creative performance and enhance concentration. Neurofeedback system is often used by medical professionals to enhance the health and lifestyle of diseases patients. Thus, there is an increasing demand for neurofeedback systems worldwide.

Market Dynamics:

Increase in burden of neurogenerative diseases, increasing incidence of brain dysfunction, increase in demand for neurofeedback systems, and technological advancements are major factors expected to propel the growth of the global neurofeedback systems market.

For instance, in October 2021, Interaxon Inc. announced the launch of the second generation of its popular EEG meditation and sleep headband Muse S. This updated plush brain-sensing headband uses real-time neurofeedback to help learn the art of meditation for falling asleep.

Key features of the study:

  • This report provides in-depth analysis of the global neurofeedback systems market, and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022–2028), considering 2021 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 neurofeedback systems market based on the following parameters such as company highlights, products portfolio, key highlights, financial performance, and strategies.
  • Key companies covered as a part of this study include Neurocare Group AG, Bee Medic Gmbh, Thought Tech Ltd., and Mind Media BV, among others.
  • 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 neurofeedback systems 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 neurofeedback systems market.

Detailed Segmentation:

  • Global Neurofeedback Systems Market, By Application:
    • Attention Deficit Hyperactivity Disorder (ADHD)
    • Pain Management
    • Insomnia
    • Anxiety Disorder
    • Other Diseases
  • Global Neurofeedback Systems Market, By Geography:
    • North America
    • Europe
    • Asia-Pacific
    • Middle East and Africa
    • South America
  • Company Profiles:
    • Neurocare Group AG
    • Bee Medic Gmbh
    • Thought Tech Ltd.
    • Mind Media BV

Frequently Asked Questions

The global neurofeedback systems market size is estimated to be valued at US$ 1,146.6 Million in 2022 and is expected to exhibit a CAGR of 7.6% between 2022 and 2028.
Rise in burden of neurogenerative diseases and increasing incidence of brain dysfunction across the world is fueling the market.
Attention deficit hyperactivity disorder (ADHD) segment is the leading application segment in the market.
Time consuming procedure and high cost of neurofeedback system are major factors restraining the market.
Major players operating in the market are Neurocare Group AG, Bee Medic Gmbh, Thought Tech Ltd., and Mind Media BV, among others.

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