Farmington, January 25, 2023 (GLOBE NEWSWIRE) — global brain computer interface market It will be valued at USD 2.79 billion in 2022 and is projected to reach USD 9.31 billion by 2030, growing at a CAGR of 16.26% from 2023 to 2030.. Brain-Machine Interface is another name for the market for communication technology between humans and machines. A brain-computer interface is the link between brain activity and external devices such as robotic limbs or computers that are connected to the brain. Brain-computer interfaces can be used to study neurodevelopmental disorders by picking up signals from neurons and analyzing them using external instruments, thanks to superior technology on the market.
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Brain-computer interfaces combine advances in software and hardware with improvements in equipment and communication between humans and machines to allow the mind to operate machines. In the medical field, brain-computer interfaces are being used more and more in applications such as electroencephalography. It is primarily used to help people with neurodegenerative disorders communicate and move more effectively.
brain computer interface market Recent developments:
- May 2022, Blackrock Neurotech and data science and development company AE Studio have partnered to enhance and expand the use cases of Blackrock Neurotech’s patented MoveAgain BCI system.
- April 2022, Neurable’s pre-launch headphones with Brain Computer Interface technology built-in. These headphones use sensors placed within the fabric of the earcups and headband to read the user’s brain signals and provide the user with noise canceling, break reminders, and mute/unmute functionality. . Notifications are based on your mood.
- November 2021, Brain Computer Interface’s company NeuraMatrix has achieved 100 million yuan funding. By the end of the year, system-on-chip production was expected to reach mass production for the first time.
brain computer interface market Segmentation analysis:
Non-invasive brain-computer interfaces with the highest market growth and highest revenue growth are contributing to the expansion of the brain-computer interface market. The market for brain-computer interface devices such as gaming sticks, amplifiers, and headsets is expanding due to improved technology and increasing consumer demand. This is because more and more people are using brain computer interface devices, contributing to the expansion of the market.
Based on application, the market for brain-computer interfaces is the fastest growing in healthcare. This is because more and more people suffer from chronic diseases such as epilepsy, Parkinson’s disease, etc., necessitating the development of new and improved treatments.
The software component of the Brain Computer Interface has the largest market growth of its components. This is due to the need for enhanced connectivity, embedded technology and the Internet of Things for the treatment of disease. This will accelerate the growth of the brain computer interface market.
The brain-computer interface market is the fastest growing and most profitable in the medical sector. This is because chronic diseases such as neurodegenerative diseases are on the rise and more people are adopting new technologies to treat them. This will also contribute to the expansion of the market for brain computer interfaces by increasing their effectiveness and efficiency.
Regional outlook:
In 2021, over 41% of total sales will occur in North America. This is mainly due to the fact that the region has invested heavily in research and development and conducted several clinical trials on brain gadgets. Also, neurological diseases such as Parkinson’s disease, Alzheimer’s disease, and Huntington’s disease are increasing in the region, which should contribute to the expansion of the market. Additionally, the growing popularity of immersive games may lead to the development of new technologies such as enhanced brain-computer interfaces that will make his BCI technology more readily available to those in the field. .
The Asia-Pacific market is projected to develop the fastest during the forecast period. BCI is expected to be in high demand in the region due to the presence of some unrealized potential, rising healthcare costs, and increasing patient awareness.
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Report scope:
report attribute | detail |
growth rate | 16.26% From 2023 to 2030 |
Market size in 2022 | U.S. dollar 2.79 billion |
Revenue projections to 2030 | US$9.31 billion |
by product | Invasive Brain-Computer Interface, Partially Invasive Brain-Computer Interface, Non-Invasive Brain-Computer Interface |
by application | Healthcare, entertainment and gaming, communication and control, smart home control, brain function repair, disability recovery |
By end user | Military, Medical, Manufacturing, Research Centers, Others (Gaming and Communications) |
by company | Natus Medical Incorporated, tec medical engineering GmbH, Medtronic, Compumedics Neuroscan, Brain Products GmbH, Integra Lifesciences Corporation, Advanced Brain Monitoring, Inc., EMOTIV, NeuroSky, Interaxon, Inc., ANT Neuro, Neuroelectrics, Ripple Neuro, NIRx Medical Technologies, LLC, OpenBCI, CGX, A Cognionics Company, etc. |
base year | 2022 |
history year | 2017-2021 |
Forecast year | 2023-2030 |
Market drivers:
Increasing prevalence of neurodegenerative conditions – Neurodevelopmental problems are becoming more prevalent and making it more difficult for people to get along and communicate. , will be enhanced by increased research and expansion, as well as more effective and efficient treatments to improve patient health.
Market challenges:
High Cost of Brain Computer Interfaces – Technological advances and new product launches in the market are increasing the price of treatments. This has improved the effectiveness and efficiency of treatments for degenerative diseases and facilitated communication between the brain and external devices. This could have a negative impact on the market for brain-computer interfaces. This is because the high cost of treatment led to lower demand and slower market growth. Normal individuals are unable to access the condition and therefore cannot take advantage of superior methods for treating the condition.
Market Opportunity:
More Healthcare Facilities – The market for brain-computer interfaces is growing rapidly as more people are diagnosed with Parkinson’s disease, epilepsy, and other chronic conditions that can be treated more effectively and efficiently. These reasons drive the market development of more modern technologies.
Increased Government Support – Governments in various parts of the country are investing heavily in developing new medical technologies to treat neurodevelopmental disorders and provide better health care to their populations.
The major segments of the Brain Computer Interface market are:
Top Market Players:
Natus Medical Incorporated, tec medical engineering GmbH, Medtronic, Compumedics Neuroscan, Brain Products GmbH, Integra Lifesciences Corporation, Advanced Brain Monitoring, Inc., EMOTIV, NeuroSky, Interaxon, Inc., ANT Neuro, Neuroelectrics, Ripple Neuro, NIRx Medical Technologies, LLC, OpenBCI, CGX, A Cognionics Company, etc.
by product
- Invasive brain computer interface
- Partially Invasive Brain Computer Interface
- Non-Invasive Brain-Computer Interface
by application
- health care
- entertainment and games
- Communication and control
- smart home control
- brain function repair
- disaster recovery
By component
By end user
- army
- medicine
- manufacturing industry
- research center
- Other (Games and Communication)
Regions and countries covered
- North America: (United States, Canada, Mexico, rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic countries, Benelux, rest of Europe)
- Asia Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia Pacific)
- Middle East and Africa: (Saudi Arabia, United Arab Emirates, Egypt, South Africa, rest of the Middle East and Africa)
- latin america: (Brazil, Argentina, Rest of Latin America)
- rest of the world
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