The global brain computer interface market will observe a growth at 14.0% CAGR, reaching a projected valuation of USD 5.46bn by 2028, while it valued at USD 1.48bn in 2021.
The
Healthcare sector is ever growing and with the digitalization and onset of
covid 19 pandemic, the demand for telehealth services is surging, which would
expand the brain computer interface market during the forecast period.
ResearchMoz
in its report elucidates the global brain computer interface market in-depth,
which includes the size, growth drivers, opportunities, restraints, challenges,
regional growth along with competitive edge.
Integration of Artificial Intelligence to Drive the Brain
Computer Interface Market
Artificial
Intelligence and Machine Learning is proving to be quite an influential
technology for the health care sector. The AI helps in introducing non-invasive
modalities in the health infrastructure for devices such as EEG, MRI, and FMRI.
Further, the precision provided by AI is not only making the surgeries less
invasive but also safe and effective. This efficaciousness offered by AI will
drive the Brain Computer Market during the forecast period. increasing demand
from the healthcare sector for diagnosis and treatment of various diseases are
also boosting the growth opportunities for this market.
Healthcare Sector Bolsters the Demand
The
applications of brain-computer interfaces such as controlling prosthetic limbs,
assisting people with disabilities, and treating conditions like epilepsy and
Parkinson’s disease will boost the demand in the coming years. Further, the
high applicability of this device in treatments such as neurological diseases
and sleep disorders will bolster the growth opportunities for the brain
computer interface market over the forecast period.
Analysts Views
Rising
research and development activities and support from governments will boost the
market in the coming years. The report by ResearchMoz cites increasing demand
for BCI devices from the healthcare and defence sectors as the main driver of
growth in the BCI market.
Rising
awareness about the benefits of BCIs among consumers will fuel the growth of
this market in the forecast period.
Treatment
of various neurological disorders, such as epilepsy, Parkinson’s disease,
chronic pain, and multiple sclerosis will be benefitted by BCIs, thus paving
the way for this market to expand.
Regional Overview
North
America will lead the global brain computer interface market during the
forecast period. The growth can be attributed to rising investment for research
and development activities.
The
Asia Pacific will grow significantly over the forecast period, owing to rising
purchasing power and increased spending for healthcare.
Competitive Landscape
The
detailed report on many strategies undertaken by the major players is available
with ResearchMoz, which would help new entrants to make informed and smart
decision to thrive in the market.
The
key players are investing heavily on research and development and product
innovation to capture the untapped markets and position themselves in the
global brain computer interface market.
The current key players of
the brain computer interface market are –
- Brain
Products GmbH
- Integra
Lifesciences Corporation
- Advanced
Brain Monitoring, Inc.
- Compumedics
Neuroscan
- NIRx
Medical Technologies, LLC
- OpenBCI
- CGX,
A Cognionics Company
- Natus
Medical Incorporated
- tec
medical engineering GmbH
- Interaxon,
Inc.
- ANT
Neuro
- Medtronic
- EMOTIV
- NeuroSky
- ANT
Neuro
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