What’s Driving Growth in the Wearable Electroencephalogram (EEG) Device Market? Insights into Key Trends and Opportunities
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What is the Anticipated CAGR of the Wearable Electroencephalogram (EEG) Device Market, and What Factors Will Drive It?
There has been a significant expansion in the market size of wearable electroencephalogram (EEG) devices in recent times. The market is expected to surge from $1.32 billion in 2024 to $1.49 billion in 2025, manifesting a compound annual growth rate (CAGR) of 13.1%. The notable increase in the historical period is due to heightened knowledge about neurological disorders, growing requirement for individualized healthcare, escalating use of neurofeedback treatments, broader applications in cognitive and mental health studies, and augmented government financial support.
The market size for the wearable electroencephalogram (EEG) devices is projected to witness rapid expansion in the upcoming years, increasing to $2.41 billion in 2029 with a compound annual growth rate (CAGR) of 12.7%. The expansion during the forecasted period is due to factors such as rising demand for non-invasive tracking, growing incidents of mental health disorders, enhancement in remote patient supervision, growth in disposable earnings, and escalating need for portable brain monitoring solutions. Significant trends for the forecasted period include the incorporation of artificial intelligence to improve data interpretation, the use of EEG technology in mental health and cognitive training programs, production of more compact and user-friendly devices, innovations in real-time brain activity observation, and broadened data protection and confidentiality features.
How Are the key drivers expanding the growth of the Wearable Electroencephalogram (EEG) Device Market?
The wearable electroencephalogram (EEG) device market’s growth is anticipated to be driven by greater awareness of mental health. This heightened consciousness about mental health is fueled by a combination of things like amplifying media exposure, educational programs, advocacy efforts from mental health entities, and increased acknowledgement of mental health’s influence on overall health. Wearable EEG devices support the management and monitoring of mental health issues by providing personalized treatment data and endorsing therapies like biofeedback and neurofeedback. As an example, in April 2024, a study by FAIR Health Inc., a US-based health organization, revealed that the percentage of patients diagnosed with mental health disorders in the US climbed from 17.9% in 2022 to 18.9% in 2023. Consequently, this increase in mental health awareness is steering the growth of the wearable electroencephalogram (EEG) device market.
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Who Are the Top Companies Contributing to the Growth of the Wearable Electroencephalogram (EEG) Device Market?
Major companies operating in the wearable electroencephalogram (EEG) device market are:
• Brain Products GmbH_x000D_
• EMOTIV Inc._x000D_
• BrainCo Inc._x000D_
• BioSemi B.V._x000D_
• NeuroSky Inc._x000D_
How Are Technological Trends Affecting the Growth and Development of the Wearable Electroencephalogram (EEG) Device Market?
Leading firms in the wearable electroencephalogram (EEG) device market are zeroing in on the incorporation of brainwave monitoring algorithms like acoustic stimulation, aiming to provide non-invasive options for brain tracking. Acoustic stimulation utilized in headphones amplifies therapeutic effects by using sound waves or vibrations, and acts as an addition to electrical stimulation for enhanced neurologic or psychological results. Take for example Elemind Technologies, Inc., a neurotechnology firm based in the US, which introduced a sleep headband in June 2024. The headband monitors brainwaves in real-time to boost sleep quality by helping users fall asleep approximately 74% faster. It applies AI-based algorithms to offer personalized acoustic stimulation, shifting brainwaves from alertness to sleep. This device harmonizes with a smartphone application, offering extensive information about sleep efficiency, duration, and stages. As time passes, the system modifies to suit individual sleep habits, thereby continually augmenting its productivity.
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Which Segments of the Wearable Electroencephalogram (EEG) Device Market Hold the Most Potential for Future Development?
The wearable electroencephalogram (EEG) device market covered in this report is segmented –
1) By Type: Battery; Charge
2) By Channel Type: 5-Channel Type; 14-Channel Type; 32-Channel Type; Other Channel Types
3) By Application: Hospitals And Clinics; Neurology Centers; Research And Academics; Other Applications
Subsegments:
1) Battery: Rechargeable Battery EEG Devices; Non-Rechargeable Battery EEG Devices; Lithium-Ion Battery EEG Devices
2) Charge: Wired Charging EEG Devices; Wireless Charging EEG Devices; Quick Charge EEG Devices
What Are the Key Regions Powering Growth in the Wearable Electroencephalogram (EEG) Device Market?
North America was the largest region in the wearable electroencephalogram (EEG) device market in 2024. The regions covered in the wearable electroencephalogram (EEG) device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Defines the Scope of the Wearable Electroencephalogram (EEG) Device Market?
A wearable electroencephalogram (EEG) device is a portable tool for capturing and recording brain electrical activity. It uses scalp-mounted electrodes to detect brainwave patterns, which are analyzed to assess neurological functions. These devices enable real-time brain activity monitoring, assisting in diagnosing and managing neurological disorders. They offer continuous, natural-setting data, providing a more complete view than traditional clinical EEG systems.
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