Brain health devices, also known as brain monitoring devices, include magneto encephalograms, cerebral oximeters, electromyography (EMG) devices, deep brain stimulation systems (brain pacemaker), and other implantable brain devices. These devices are used to control and monitors the activity related to brain cell (neurons) functions that may cause neurological disorders such as Alzheimer’s, Parkinson’s, epilepsy, dementia, multiple sclerosis, sleep disorder, and brain tumor. These neurological conditions can be treated with drug therapies, however some surgical procedures are recommended in later stages of the condition.
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Increasing demand for minimally-invasive treatment options in emerging economies is expected to drive the brain health devices market. Moreover, brain health devices are becoming an effective minimally-invasive therapy for Parkinson’s patients, which is providing manufacturers opportunities to gain significant market traction in emerging economies.
The global brain health devices market was valued at US$ 9,070.5 million in 2018, and is expected to witness a CAGR of 7.7% during the forecast period (2019–2026).
Increasing number of regulatory approvals for brain health devices is expected to drive growth of the global brain health devices market
Most of hospitals and healthcare organizations implementing insertion of brain implants in patients who are at a risk of developing neurological disorders, in order to provide artificial control on the brain functioning. Moreover, regulatory approvals for innovative and advanced brain health devices is expected to propel the brain health devices market growth in the near future. For instance, in April 2019, GE Healthcare received the U.S. Food and Drug Administration (FDA) 510(k) clearance for its Deep Learning Image Reconstruction engine on the new Revolution Apex computed tomography (CT) device. Deep Learning Image Reconstruction (DLIR), a next-generation image reconstruction option, uses a dedicated deep neural network (DNN) to generate TrueFidelity CT Images.
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Increasing focus on product development and introduction of devices for monitoring brain function are expected to contribute to growth of the global brain health devices market. For instance, in February 2019, Medtronic plc. launched its Deep Brain Stimulation (DBS) device which is a surgically implanted medical device for patients with refractory epilepsy. The DBS therapy delivers controlled electrical pulses to the anterior nucleus of the thalamus (ANT), which is a part of a vascular network involved in seizures. The product was approved by the U.S. FDA in May 2018.
Global Brain Health Devices Market – Competitive Landscape
Key players operating in the global brain health devices market include BrainScope Company, Inc., Bio-Signal Group Corp., Cadwell Industries, Inc. Advanced Brain Monitoring, Inc., Compumedics Ltd., Elekta, DePuy Synthes, Electrical Geodesics, Inc., Medtronic, GE Healthcare, MEG International Services Ltd, Natus Medical, Inc., Neurowave Systems Inc., Nihon Kohden Corporation, and Philips Healthcare.
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