Next-generation neurofeedback market is attracting investors and medical device manufacture’s interest as a new profitable revenue generation venture. Next-generation neurofeedback devices only help in self-regulating one’s own brain activity by directly altering both cognition and behavioral mechanisms but also as a tool for therapeutic application. Next-generation neurofeedback devices can range from simple machines to complex arrays of devices with deep brain image scanning functionality.
Next-generation neurofeedback devices can be broadly categorized into: EEG neurofeedback device systems, Brand name next-generation neurofeedback device systems, and 3D next-generation neurofeedback device systems. The latter two are the next-generation neurofeedback devices currently operating in the market. Certain manufacturers and companies operating in this market rebrand and sell these next-generation neurofeedback devices as 'brain state training', 'brain conditioning' or 'neural-optimization' devices.
As greater expertise needed for operating EEG neurofeedback devices with many sessions to see results, these devices are making way for next-generation neurofeedback devices in the market which are usually automated and requires pain free operating process.
Next-generation neurofeedback devices, which are generally effective, the devices market growth is largely driven by patients from all regions in the world who suffer from attention deficit hyperactivity disorder, anxiety, depression, epilepsy, insomnia, drug addiction, schizophrenia and others. In addition many new and established players in next-generation neurofeedback device market are developing new generation protocols and providing frontal as well as midline theta up-regulation training for effective device operation.
While in general next-generation neurofeedback are effective, these device are also associated with many limitations. Mostly, next-generation neurofeedback device built-in functions and equipment design, make them inefficient at times for achieving particular goals or finding solutions in some grey areas. They require formal training to operate, which can vary from few days to some weeks, greatly adding to their limitations. For instance, a 3D next-generation neurofeedback devices demands more skill and experience for operation, and device mostly runs at a good twenty times the cost of basic ones.
Therefore, operational sessions using these next-generation neurofeedback devices usually cost about a third more than for traditional neurofeedback, where fewer sessions are enough to see the results.
Next-generation feedback devices practitioners often say that most of their patients come with problems when their brain wave frequencies doesn’t synchronize with those of hands and other parts of the body. According to the experts, these issues can be solved using the initial EEG readings known as “brain maping”.
It an opportunity for leading market players such as to speed up their R&D activities to detect various neurological seizure prediction and disorders. The market provides a tremendous revenue generation opportunity as almost one-third of the 3 million people in the United States with epilepsy continue to have seizures despite taking anti-epileptic medications.
Advancement in next-generation neurofeedback devices will help neurologist, physicians and clinicians with automated seizure detection, accurate seizure profiles and programed brain stimulation solutions. In addition, the ability of next-generation neurofeedback devices to stream data from an implanted device to a hand-held device via cloud storage, will facilitate the patient's physician with information and treatment and drive market growth.
Globally, next-generation neurofeedback device market is segmented into seven key regions viz. North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and Middle East.
North America will account for the largest share in global next-generation neurofeedback device market. Leading companies such as Medtronic, in collaboration with Mayo Clinic, the University of Minnesota and the University of Pennsylvania are working to build the next-generation of neurofeedback devices for epilepsy, using a $6.8 million grant from the National Institutes of Health (NIH).
Both the European regions owing to aggressive healthcare infrastructure will also drive the next-generation of neurofeedback devices market. Asia Pacific, China, Japan and some Latin American countries are expected to be a significant market contributors in the growth of next-generation neurofeedback device market. It is observed that patients from these countries, besides coping with the side effects of medications and the actual seizure, also spend much of time dreading when the next seizure will strike.
In the process, they rather undergoing treatment during initial stages, maximize the chances of next seizure attacks. GCC countries from Middle East and African region are also expected to show decent growth due their advanced healthcare system and developed economy. However, some poor nations especially from African region will impact the global next-generation neurofeedback market growth due lack of training sessions for operating the devices. It’s customary to implement a fixed number of sessions. Lack of skilled professionals and infrastructure are primary needs for the market to flourish in such nations.
Some of the key players present in global next-generation neurofeedback market include Neurable, LOOXID LABS, Neurotech International Ltd (Mente), Ant Neuro, Brainmaster Technologies, Inc. Neurofeedbackuk, Brain State Technologies, LLC, Neurogen Ltd, BrainBit and EEGinfo, In addition, presence of small and local manufacturers across the countries will account for next-generation neurofeedback device market.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Next-generation neurofeedback device Market
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