Global Neurofeedback Market, by Product (Amplifiers, Electrodes or Sensors, and Computer Software), by System (Frequency/Power Neurofeedback System, Slow Cortical Potential Neurofeedback (SCP-NF) System, Low-Energy Neurofeedback System (LENS), Hemoencephalographic (HEG) Neurofeedback System, Live Z-Score Neurofeedback System, Low-Resolution Electromagnetic Tomography (LORE-TA), and Functional Magnetic Resonance Imaging (fMRI)), by Application (Attention Deficit Hyperactivity Disorder (ADHD), Anxiety, Depression, Epilepsy, Insomnia, Drug Addiction, Schizophrenia, and Others), by End User (Hospitals, Ambulatory Surgical Center, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 1,253.5 Million in 2023 and is expected to exhibit a CAGR of 7.33% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing number of awareness campaigns for mental illness such as anxiety, insomnia, and others by the key players in the market is expected to drive the market growth over the forecast period. For instance, in June 2021, The American Academy of Sleep Medicine and the Society of Behavioral Sleep Medicine, launched an awareness campaign, Insomnia Awareness Night. Moreover, Insomnia Awareness Night, has been launched in U.S. to provide education and support for those living with chronic insomnia.
Global Neurofeedback Market – Impact of Coronavirus (COVID-19) Pandemic
World Health Organization (WHO) designated the illness caused by the severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) that first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019," or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and health of every.
With its rapid spread, the worldwide pandemic has intensified anxiety and depression in communities all over the world, which has caused mental health illnesses in people. Due to the COVID-19 epidemic, the prevalence of depression and anxiety disorders increased in 2020. According to a World Health Organization (WHO) report from March 2022, the prevalence of anxiety and depression rose by almost 25% in the first year of the pandemic. The pandemic gave market companies the chance to create cutting-edge approaches to deal with the growing burden of anxiety and depression disorders globally, which fueled the industry's expansion.
Global Neurofeedback Market: Key Developments
In April 2021, Neurovative Diagnostics and Ambulatory Neurological Services (ANS), two leading providers of Electroencephalogram (EEG) services, announced the merger of their companies. Neurovative and ANS currently provide in-home EEGs and EEG monitoring services across the U.S., with recent expansion in the Middle East. Neurovative and ANS will continue serving their existing clients, combining to form the largest provider of in-home EEG procedures.
Browse 35 Market Data Tables and 30 Figures spread through 182 Pages and in-depth TOC on “Global Neurofeedback Market ”- Forecast to 2030, by Product (Amplifiers, Electrodes or Sensors, and Computer Software), by System (Frequency/Power Neurofeedback System, Slow Cortical Potential Neurofeedback (SCP-NF) System, Low-Energy Neurofeedback System (LENS), Hemoencephalographic (HEG) Neurofeedback System, Live Z-Score Neurofeedback System, Low-Resolution Electromagnetic Tomography (LORE-TA), and Functional Magnetic Resonance Imaging (fMRI) ), by Application (Attention Deficit Hyperactivity Disorder (ADHD), Anxiety, Depression, Epilepsy, Insomnia, Drug Addiction, Schizophrenia, and Others), by End User (Hospitals, Ambulatory Surgical Center, Clinics, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/neurofeedback-market-5506
Key Takeaways of the Global Neurofeedback Market:
- The global neurofeedback market is expected to exhibit a CAGR of 7.33% during the forecast period. The increase in the research and development activities by the key players for neurofeedback is expected to drive growth of the market over the forecast period. For instance, on January 1, 2023, Assiut University initiated a clinical trial titled “Quantitative EEG Neurofeedback as an Add-on Therapy for Attention-deficit Hyperactivity Disorder (ADHD)”. This study is estimated to get completed by January 2024.
- In terms of application, attention deficit hyperactivity disorder (ADHD) segment is estimated to hold a dominant position in the global neurofeedback market over the forecast period, owing to the increase in the global prevalence of attention deficit hyperactivity disorder (ADHD). For instance, data published on September 30, 2022, on MDPI, estimated that every year ADHD affects about 6% of children around the world.
- Among region, North America is expected to hold a dominant position in the global neurofeedback market over the forecast period due to increase in the government initiatives by the government for mental disorders such as depression, anxiety and others. For instance, on January 14, 2022, Government of Canada launched Wellness Together Canada (WTC), an online platform that gives access to a virtual network of mental health and substance use supports.
- Major players operating in the global neurofeedback market includes Neuro Care Group, Myndlift Ltd, Brainmaster Technologies, Inc., Mitsar Co. Ltd, Emotiv, Brainworks, Mindfield Biosystems Ltd., Narbis, Thought Technology Ltd., InteraXon Inc., Mind Media USA Inc., and NeuralScan
