The brain monitoring market was USD 6,159 million in 2022, which will increase to USD 10,192 million, advancing at a 6.50% compound annual growth rate, by 2030.
The growing number of individuals with neurological disorders across the globe is driving the sale of these devices. Furthermore, the recent approvals for brain monitoring products would enable manufacturers to target a broader base of customers.
In 2022, electroencephalography (EEG), under the device category, accounted for the major share, and it will continue this trend in the coming years. This is because of the increasing need for innovative techniques as well as regular product approvals.
North America was the largest contributor to the industry. This can be mainly because of the rise in the prevalence of neurological disorders, acceptance of enhanced neurological diagnosis & monitoring technologies, and surge in the elderly population.
Moreover, the increasing consciousness regarding the early detection of neurodegenerative illnesses, including Parkinson’s, Huntington’s, and Alzheimer’s, is further boosting the expansion of the regional industry.
APAC is likely to advance at the fastest compound annual growth rate in the years to come. Because of the increasing incidence of neurological disorders, the surging aging population, and the developments in technology, India is likely to hold a sizable share in APAC.
With the surging prevalence of neurological disorders, coupled with the mounting aging population, the brain monitoring industry will continue to advance in the coming years.