Global Brain Computer Interface Market, by Product (Invasive, Non-invasive, and Semi-invasive), by Application (Prevention, Detection and Diagnosis, and Rehabilitation and Restoration), by End User (Hospitals, Academic Institutes, and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), 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), as highlighted in a new report published by Coherent Market Insights.
The increasing launches of products is expected to drive the market growth during the forecast period. For instance, in March 2021, Plexon Inc., announced the launch of the Plexon NeuroLight Stimulator, which is designed specifically for current stimulation of µLEDs on up to four NeuroLight Optoelectrode probes. With the NeuroLight Stimulator, the user can control each of the twelve µLEDs individually, in groups, or altogether.
For instance, in June, 2020, Emotiv Inc., launched EPOC X, a latest EEG (electroencephalography) headset. It allows long and contextual neuroscience experiments. EPOCX features a rotating headband, easy hydrating sensors, and others.
Global Brain Computer Interface Market – Impact of Coronavirus (Covid-19) Pandemic
Brain computer interface devices are required for surgeries of patients with stroke and brain aneurysms, which might be delayed due to the pandemic. During the pandemic, brain surgeries were often postponed or even cancelled.
For instance, according to a study published in the National Center for Biotechnology Information in July 2020, neurosurgical care has been impacted by COVID-19. Elective surgical procedures have been cancelled so that operating theater staff and operating equipment can be deployed for critical care. Outpatient activity has been reduced, in order to redirect resources and to lower transmission of the disease by decreasing the footfall in hospitals.
Researchers are focusing on new evidences on how the coronavirus affects the human body. For instance, according to a study conducted by the University College London and University College London Hospital in July 2020, COVID-19’s neurological complications can include delirium, brain inflammation, stroke, and nerve damage.
Furthermore, in a study published in JAMA Neurology in April 2020, around 36.4% of COVID-19 patients displayed various neurological symptoms at the Union Hospital in Wuhan.
Browse 36 Market Data Tables and 29 Figures spread through 187 Pages and in-depth TOC on “Brain Computer Interface Market”- Global Forecast to 2028, by Product (Invasive, Non-invasive, and Semi-invasive), by Application (Prevention, Detection and Diagnosis, and Rehabilitation and Restoration), by End User (Hospitals, Academic Institutes, and Research Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
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Key players operating in the market are focusing on inorganic strategies such as acquisitions, collaborations, and agreements, in order to expand their product portfolio in the market, which is expected to drive the market growth during the forecast period. For instance, in February 2021, Blackrock Microsystems LLC, a neuroscience company and ClearPoint Neuro, Inc., a medical device manufacturing company, entered into a multi-product joint development & option agreement for novel brain computer interface systems and expanded ClearPoint Neuro, Inc.’s presence in the U.S.
Key Takeaways of the Global Brain Computer Interface Market:
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