Neurofeedback uses brain imaging and sensors to measure brain wave activity via EEG or other monitoring apparatus. It reads the brain waves and uses operant conditioning to teach the brain to function more effectively. Neurofeedback training helps enhance focus, mood control, addiction treatment and overall mental health and well-being. The neurofeedback market has seen increased demand due to rising awareness about mental healthcare needs and growing acceptance of alternate therapies.
The global Neurofeedback Market is estimated to be valued at US$ 1253.5 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Mobile neurofeedback technology is gaining prominence in the market. This technology offers convenience of use along with effective neurofeedback training sessions through mobile apps. With higher penetration of smartphones globally, mobile neurofeedback apps provide easy access to therapy sessions from any location. Key players are focusing on development of advanced and user-friendly mobile neurofeedback devices and apps. For instance, BrainBay, a Swiss Company offers an easy to use mobile neurofeedback device and companion app for stress management and improved focus. Such developments are expected to drive the neurofeedback market growth over the forecast period.
Segment Analysis
The global Neurofeedback market is segmented based on product type, application, and end use. By product type, the EEG devices segment currently dominates the market. EEG devices are able to record electrical activity of the brain through electrodes placed on the scalp. These devices provide comprehensive brain data that can help analyze brainwaves.
Key Takeaways
The global Neurofeedback market is expected to witness high growth over the forecast period of 2023 to 2030 supported by increasing focus on mental health and rising treatment rates for neurological disorders. The global Neurofeedback Market is estimated to be valued at US$ 1253.5 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030.
Regional analysis
North America currently dominates the global Neurofeedback market and is estimated to continue its dominance over the forecast period. High incidence of neurological disorders, presence of advanced healthcare facilities and favorable reimbursement policies are some key factors supporting market growth in the region. Asia Pacific is expected emerge as the fastest growing regional market supported by improving healthcare infrastructures, rising medical tourism and increasing investments by market players in emerging countries.
Key players
Key players operating in the Neurofeedback market are TAKARA BIO Inc., PHARMICELL Co., Ltd., and MEDIPOST Co. TAKARA BIO is one of the largest players manufacturing EEG systems for Neurofeedback therapy. PHARMICELL Co. is a South Korean firm focused on regenerative medicine and stem cell therapies. MEDIPOST Co. is an established player in Korea providing Neurofeedback medical devices and software for clinical applications.
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