The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The brain monitoring market has witnessed a surge in recent years, with its size projected to leap from $7.49 billion in 2023 to $8.26 billion in 2024, reflecting a notable Compound Annual Growth Rate (CAGR) of 10.2%. This growth in the historic period is attributed to various factors such as the increased prevalence of neurological disorders, rising demand for real-time brain monitoring in surgical and critical care settings, and the expansion of the aging population.

Factors Driving Historic Growth

• Increased prevalence of neurological disorders
• Demand for real-time brain monitoring in critical care settings
• Growth in research on brain-computer interfaces (BCIs) and neurofeedback
• Expansion of the aging population
• Increased adoption of brain monitoring in sports optimization

Factors Propelling Forecasted Growth

• Development of more affordable and accessible brain monitoring devices
• Increased application of brain monitoring in mental health and psychiatric care
• Expansion of neurocritical care units and stroke centers
• Regulatory support for approval and use of brain monitoring technologies
• Growing pediatric neurology and neonatal brain monitoring

Embracing Future Trends

The upcoming years promise a robust growth trajectory for the brain monitoring market, reaching an impressive $12.07 billion in 2028, fueled by a steady CAGR of 10.0%. Key trends in the forecast period include neuroinformatics and data integration, neurofeedback and brain training, brain-computer interface (BCI) integration, blockchain for data security, and brain monitoring in space exploration.

Government-Led Initiatives as Catalysts

Government initiatives aimed at advancing next-generation invasive devices are expected to propel the growth of the brain monitoring market. These initiatives, involving specific actions, programs, or policies, play a pivotal role in driving innovation and addressing critical issues. In 2023, the National Institutes of Health (NIH) issued a funding opportunity announcement (FOA) to encourage early-stage clinical studies for next-generation invasive devices, underscoring the commitment to fostering advancements in the field.

Key Players Shaping the Landscape

Major companies contributing significantly to the brain monitoring market include Natus Medical Inc., Nihon Kohden Corporation, Philips Healthcare NV, GE Healthcare Technologies Inc., and a myriad of others. These industry leaders are driving innovation and market growth through their diverse product offerings and strategic initiatives.

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Innovations Redefining Competition

Neurosteer EEG Brain Monitoring Platform

• Neurosteer introduces a single-channel EEG brain monitoring platform approved by the FDA.
• The platform includes technical status indicators about the recording, enhancing efficiency in clinical trials for neurodegenerative disorders.

Mergers for Market Expansion

Brain Scientific Inc. and Piezo Motion Corp. Merger

• Brain Scientific Inc., a neurology-focused medical device company, merges with Piezo Motion Corp.
• The merger expands market reach and boosts the capacity to launch disruptive products.

Market Segmentation

The brain monitoring market is segmented based on:

1. Product:
   • Magnetoencephalograph
   • Electroencephalograph
   • Cerebral Oximeters
   • Functional Magnetic Resonance Imaging (fMRI)
   • Intracranial Pressure Monitoring Devices
   • Other Product Types
2. Procedure:
   • Invasive
   • Non-invasive
3. Application:
   • Parkinson’s Disease
   • Traumatic Brain Injury
   • Epilepsy
   • Dementia
   • Sleep Disorders
   • Other Applications
4. End User:
   • Hospitals and Clinics
   • Neurology Centers
   • Ambulatory Surgery Centers
   • Diagnostic Centers
   • Other End Users

Regional Dynamics

• North America took the lead as the largest region in the brain monitoring market in 2023.
• Asia-Pacific is poised to emerge as the fastest-growing region in the forecast period, opening new avenues for market expansion.

In conclusion, the brain monitoring market’s impressive growth trajectory is underpinned by a convergence of factors, including technological innovations, government-led initiatives, and strategic collaborations. As the market continues to evolve, it presents a landscape ripe for advancements, shaping the future of neurological diagnostics and care.

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