04 May 2020
Visiongain has launched a new pharma report Brain Computer Interface Market Report 2020-2030: Forecasts by Product (Invasive, Partially Invasive, Non Invasive), Application (Healthcare (Disabilities Restoration & Brain Function Repair), Smart Home Control, Communication and Control, Entertainment and Gaming), End Use (Medical, Military, Others), and Geography (North America, Latin America, Europe, Asia Pacific, MEA).
The global brain-computer interface market is anticipated to grow at a lucrative CAGR of xyz% and anticipated to reach USD xyz billion by 2020. Visiongain anticipates that the market is projected to witness lucrative growth rates owing to technological advancements and miniaturization of devices. Brain-computer interfaces (BCI) are increasingly becoming reliable pieces of technology, and beneficial for patients who suffer from paralysis or similar conditions.
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Brain-computer interface (BCI) systems build a communication bridge between the human brain and the external world eliminating the need for typical information delivery methods. BCI helps in sending messages from the human brain and thus decoding it. BCI can help handicapped people via a variety of methods such as in spelling applications, semantic categorization, or silent speech communication. BCIs can also facilitate hands-free applications bringing ease and comfort to human beings through the mind-controlling of machines. They only require incorporating brain signals to accomplish a set of commands and no muscle intervention is needed. BCI assistive robots can offer support for disabled users in daily and professional life, increasing their cooperation in building their community
Continuing innovations in computational and sensor technology are likely to fuel market growth. Additionally, ongoing research to develop treatments for fatal conditions such as brain disorders and injuries, sleep disorders, and cerebrovascular diseases is another factor likely to drive market growth. Also, clinical trials, research institutes, and government agencies have extended their assistance in the form of investments, funds, and grants that have stimulated research activities to boost the use of brain-computer interfaces. The demand for biocompatible materials should also increase the use of a brain-computer interface. The lack of skilled technicians to handle these complex devices is, however, a factor limiting this market's growth.
North America holds the majority of market share followed by Europe and will continue to dominate in the future as a result of several research projects in the region, coupled with funding for research institutes from the government. Also, the market will continue to be driven by the growing number of clinical trials on brain devices across the region. Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to growing healthcare infrastructure and rising disposable income across markets such as India and China. Additionally, unmet needs of patients and untapped nations in this region have been attracting investments by global players and this is expected to boost the Brain-Computer Interface Market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations, and launching new products to strengthen their position in the global market. Companies are also expanding their R&D, distribution, and management facilities to expand their business and to hold a competitive edge in the Brain-Computer Interface Market.
For instance, ANT Neuro recently announced its new and upgraded visor2™ product range. The new and upgraded visor2 product range brings new features such as extended functionality for combined EEG- TMS recordings, multimodality functional mapping of the motor and speech cortex, the integration of the brand-new PowerMAG ANT 100Hz rTMS stimulator and many more improvements.
The comprehensive market report features companies such as Ant Neuro, Brain Products GmbH, Cerora Incorporation, Cognionics, Advanced Brain Monitoring, Inc., Emotiv Incorporation, Guger Technologies Og, Mind Solutions Corporation, Natus Medical Incorporated, Integra Lifesciences Corporation, Neurosky, Neuroelectrics, Nirx Medical Technologies, Nielsen Holding, Interaxon among other prominent players. Also the research study offers market estimation and forecast for the period ranging 2020-2030 for global markets such as North America, Latin America, Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Russia, India, Japan, China, Australia, ASEAN, GCC and South Africa.
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