Neurofeedback Market
Neurofeedback Market Forecasts to 2030 - Global Analysis By Type (Electrodes , Amplifiers, Computer Software and Other Products), System, Application, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $1.2 BN |
|
Projected Year Value (2030) |
US $2.2 BN |
|
CAGR (2023 - 2030) |
9.3% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Neurofeedback Market is accounted for $1.2 billion in 2023 and is expected to reach $2.2 billion by 2030 growing at a CAGR of 9.3% during the forecast period. Neurofeedback (NFB), also known as neurotherapy, is a kind of biofeedback that uses operant training to encourage healthy brain function by providing real-time feedback based on brain activity. Electroencephalography (EEG) usually records electrical activity from the brain using scalp-mounted sensors and provides feedback through visual or auditory displays.
According to data published in April 2021, on National Library of Medicine, stated that schizophrenia affects more than 1.5 million Canadians every year. According to the World Health Organization (WHO), around 1 billion people globally suffer from neurological disorders, with approximately 50 million people being diagnosed with epilepsy alone.
Market Dynamics:
Driver:
Growing number of mental health issues
Neurofeedback is one of the therapeutic modalities that have been investigated as a result of the rising incidence of mental illnesses. This type of therapy works by giving patients immediate feedback on their brainwave patterns in an effort to control brain activity. Because alternative therapies may be more successful than orthodox treatments and have fewer side effects, research into them has been sparked by the growth in mental health disorders. This element is having an impact on the market's expansion.
Restraint:
Lack of reimbursement policies
Neurofeedback therapy is not only more expensive when it comes to reimbursement, but it also deters medical professionals from providing it. The absence of uniform guidelines and treatment settings may result in differences in application, which might damage neurofeedback systems' reputation and acceptance in the medical field. Insufficient compensation might discourage healthcare institutions from investing in neurofeedback systems, which would limit the growth of the industry.
Opportunity:
Technical advancements
The developments have broadened the range of possible uses for neurofeedback outside of clinical settings, including stress reduction, improving cognitive function, and improving athletic performance. This is now more widely available outside of clinical settings because to advancements. Individuals may receive expert assistance while training at home thanks to equipment that are both portable and easy to use. Due of the industry's ongoing technological breakthroughs and the launch of innovative goods, the market is growing.
Threat:
High cost of neurofeedback
The high cost of production and maintenance can be attributed to the complexity of the technology, which includes the sensors, software, and data processing tools. Adoption of neurofeedback is hampered by its expensive cost, especially in underdeveloped nations with constrained healthcare resources. This means that a large fraction of the population cannot use these technologies, which restricts market expansion. The necessary knowledge and instruction to run these systems also raises the overall cost.
Covid-19 Impact:
Stress, anxiety, and mental health problems have escalated because to the Covid-19 epidemic, which may encourage more people to seek out neurofeedback treatments. For other people, nevertheless, access to these therapies may have been hampered by uncertainty and budgetary limitations. The epidemic took funding and focus away from neurofeedback research and development projects. The urgent health crisis management became the top priority.
The hemoencephalographic segment is expected to be the largest during the forecast period
The hemoencephalographic segment is expected to be the largest during the forecast period. A much more recent method for measuring variations in blood flow in the brain, particularly in the frontal cortex, is hemoencephalography in neurofeedback. To improve treatment results, it is combined with other therapeutic approaches such medicine or cognitive-behavioral therapy. It is regarded as an adjunctive strategy for treating a few neurological and psychiatric disorders.
The attention deficit hyperactivity disorder segment is expected to have the highest CAGR during the forecast period
The attention deficit hyperactivity disorder segment is expected to have the highest CAGR during the forecast period. It is among the most prevalent neurodevelopmental problems in kids. The growing prevalence and the increased attention being paid to neurofeedback therapy and device research and development are what are fueling the segment's growth. Moreover, an increasing focus on research and development is producing efficient neurofeedback, which is promoting market growth.
Region with largest share:
North America is projected to hold the largest market share during the forecast period due to advanced healthcare infrastructure with devices and kits. The sophisticated healthcare infrastructure and the presence of several medical device companies with strong ties to hospitals are the main drivers of this market's growth. It is crucial factors in the industry’s growth since a lot of corporations choose to do clinical research in developed nations, especially the United States.
Region with highest CAGR:
Asia Pacific is projected to hold the highest CAGR over the forecast period due to rising healthcare infrastructure through government investing. It is applied in therapeutic contexts to treat illnesses including anxiety, depression, ADHD, and other neurological issues. In these nations, there is also a rising interest among healthy persons in employing neurofeedback for cognitive advancement. Research organizations and tech firms are investigating its potential uses in stress management, sports performance improvement, and mental health therapy.
Key players in the market
Some of the key players in Neurofeedback market include Emotiv, Brainworks, Neuro Care Group, Mindfield Biosystems Ltd., Narbis, Thought Technology Ltd., Brainmaster Technologies, Inc., InteraXon Inc., Mind Media USA Inc., Mitsar Co. Ltd, Wearable Sensing, Mind Media B.V, Stens Corporation, Myndlift Ltd and NeuralScan.
Key Developments:
In January 2023, BrainMaster Technologies launched FocusEdu-S, a neurofeedback system for use in schools to improve student learning and behavior. This launch expands BrainMaster's neurofeedback solutions for the education sector.
In September 2022, NeuroCare Group acquired neuroConn, combining two leading German neurofeedback companies. This acquisition strengthens NeuroCare's position in Europe for neurofeedback systems.
In June 2022, Neurofeedback Labs raised $3 million in seed funding to further develop AI-powered neurofeedback training. This investment will support Neurofeedback Labs' growth in digital therapeutics using neurofeedback.
Products Covered:
• Electrodes
• Amplifiers
• Computer Software
• Other Products
Systems Covered:
• Slow Cortical Potential
• Frequency/Power
• Low-Energy
• Hemoencephalographic
• Live Z-Score
• Low-Resolution Electromagnetic Tomography
• Functional Magnetic Resonance Imaging
• Other Systems
Applications Covered:
• Anxiety
• Attention Deficit Hyperactivity Disorder
• Depression
• Insomnia
• Drug Addiction
• Schizophrenia
• Epilepsy
• Pain Management
• Emotional Regulation
• Mental Fitness
• Other Applications
End Users Covered:
• Hospitals
• Neurocare Clinics
• Ambulatory Surgical Center
• Scientific Research
• Training Institutes
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 End User Analysis
3.9 Emerging Markets
3.10 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Neurofeedback Market, By Product
5.1 Introduction
5.2 Electrodes
5.3 Amplifiers
5.4 Computer Software
5.5 Other Products
6 Global Neurofeedback Market, By System
6.1 Introduction
6.2 Slow Cortical Potential
6.3 Frequency/Power
6.4 Low-Energy
6.5 Hemoencephalographic
6.6 Live Z-Score
6.7 Low-Resolution Electromagnetic Tomography
6.8 Functional Magnetic Resonance Imaging
6.9 Other Systems
7 Global Neurofeedback Market, By Application
7.1 Introduction
7.2 Anxiety
7.3 Attention Deficit Hyperactivity Disorder
7.4 Depression
7.5 Insomnia
7.6 Drug Addiction
7.7 Schizophrenia
7.8 Epilepsy
7.9 Pain Management
7.10 Emotional Regulation
7.11 Mental Fitness
7.12 Other Applications
8 Global Neurofeedback Market, By End User
8.1 Introduction
8.2 Hospitals
8.3 Neurocare Clinics
8.4 Ambulatory Surgical Center
8.5 Scientific Research
8.6 Training Institutes
8.7 Other End Users
9 Global Neurofeedback Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 Emotiv
11.2 Brainworks
11.3 Neuro Care Group
11.4 Mindfield Biosystems Ltd.
11.5 Narbis
11.6 Thought Technology Ltd.
11.7 Brainmaster Technologies, Inc.
11.8 InteraXon Inc.
11.9 Mind Media USA Inc.
11.10 Mitsar Co. Ltd
11.11 Wearable Sensing
11.12 Mind Media B.V
11.13 Stens Corporation
11.14 Myndlift Ltd
11.15 NeuralScan
List of Tables
1 Global Neurofeedback Market Outlook, By Region (2021-2030) ($MN)
2 Global Neurofeedback Market Outlook, By Product (2021-2030) ($MN)
3 Global Neurofeedback Market Outlook, By Electrodes (2021-2030) ($MN)
4 Global Neurofeedback Market Outlook, By Amplifiers (2021-2030) ($MN)
5 Global Neurofeedback Market Outlook, By Computer Software (2021-2030) ($MN)
6 Global Neurofeedback Market Outlook, By Other Products (2021-2030) ($MN)
7 Global Neurofeedback Market Outlook, By System (2021-2030) ($MN)
8 Global Neurofeedback Market Outlook, By Slow Cortical Potential (2021-2030) ($MN)
9 Global Neurofeedback Market Outlook, By Frequency/Power (2021-2030) ($MN)
10 Global Neurofeedback Market Outlook, By Low-Energy (2021-2030) ($MN)
11 Global Neurofeedback Market Outlook, By Hemoencephalographic (2021-2030) ($MN)
12 Global Neurofeedback Market Outlook, By Live Z-Score (2021-2030) ($MN)
13 Global Neurofeedback Market Outlook, By Low-Resolution Electromagnetic Tomography (2021-2030) ($MN)
14 Global Neurofeedback Market Outlook, By Functional Magnetic Resonance Imaging (2021-2030) ($MN)
15 Global Neurofeedback Market Outlook, By Other Systems (2021-2030) ($MN)
16 Global Neurofeedback Market Outlook, By Application (2021-2030) ($MN)
17 Global Neurofeedback Market Outlook, By Anxiety (2021-2030) ($MN)
18 Global Neurofeedback Market Outlook, By Attention Deficit Hyperactivity Disorder (2021-2030) ($MN)
19 Global Neurofeedback Market Outlook, By Depression (2021-2030) ($MN)
20 Global Neurofeedback Market Outlook, By Insomnia (2021-2030) ($MN)
21 Global Neurofeedback Market Outlook, By Drug Addiction (2021-2030) ($MN)
22 Global Neurofeedback Market Outlook, By Schizophrenia (2021-2030) ($MN)
23 Global Neurofeedback Market Outlook, By Epilepsy (2021-2030) ($MN)
24 Global Neurofeedback Market Outlook, By Pain Management (2021-2030) ($MN)
25 Global Neurofeedback Market Outlook, By Emotional Regulation (2021-2030) ($MN)
26 Global Neurofeedback Market Outlook, By Mental Fitness (2021-2030) ($MN)
27 Global Neurofeedback Market Outlook, By Other Applications (2021-2030) ($MN)
28 Global Neurofeedback Market Outlook, By End User (2021-2030) ($MN)
29 Global Neurofeedback Market Outlook, By Hospitals (2021-2030) ($MN)
30 Global Neurofeedback Market Outlook, By Neurocare Clinics (2021-2030) ($MN)
31 Global Neurofeedback Market Outlook, By Ambulatory Surgical Center (2021-2030) ($MN)
32 Global Neurofeedback Market Outlook, By Scientific Research (2021-2030) ($MN)
33 Global Neurofeedback Market Outlook, By Training Institutes (2021-2030) ($MN)
34 Global Neurofeedback Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
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