Request Discount

Brain Computer Interface Market (Type - Invasive BCI, Non-invasive BCI, and Partially Invasive BCI; Application - Communication & Control, Healthcare, Smart Home Control, Entertainment & Gaming, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : June, 2020

  • Rep Id : ICT1417

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on brain computer interface market provides in-depth analysis of segments and sub-segments in the global as well as regional brain computer interface market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional brain computer interface market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global brain computer interface market. According to the report, the global brain computer interface market is projected to grow at a CAGR of 15.1% over the forecast period of 2020-2026.

 

Market Insight

Brain computer interface (BCI) obtain brain signals, analyze them, and translate them into commands that are communicated to output devices that carry out desired actions. Brain computer interfaces do not use normal neuromuscular output pathways. Further, its foremost goal is to replace or restore useful function to people disabled by neuromuscular disorders, for example, amyotrophic lateral sclerosis, cerebral palsy, stroke, or spinal cord injury. Brain computer interfaces may also prove beneficial for rehabilitation after stroke and for other disorders.

 

Major drivers of the brain computer interface market include increasing prevalence of neuroprosthetic conditions, rising geriatric population, and increasing technological developments facilitating communication and movement in paralytic patients. In addition, the use of brain computer interface technology in virtual gaming, home control systems, and military communication enhances the applicability of brain computer interface systems, thereby fuelling its growth. Moreover, the increasing prevalence of neurodegenerative disorders such as Alzheimer’s and Parkinson’s disease and epilepsy are anticipated to drive the demand for brain computer interface over the forecast period. Conversely, ethical problems faced during research and cybersecurity threats are expected to hamper the brain computer interface market growth. On the contrary, integration of AI with brain computer interface, and a rise in demand for brain computer interface by SMEs provide lucrative growth opportunities for the global market over the analysis period. Additionally, the current concern over the spread of coronavirus is also expected to have a negative impact on the brain computer interface market for the short term. The spread of COVID-19 cases is likely to affect the medical product supply chain resulting in the shortage of critical medical devices. Due to the current epidemic, the medical device industry has been under tremendous pressure to provide new products. With COVID-19 pandemic infections swelling across the globe, the anxiety regarding a scarcity of essential life-saving devices and other essential medical supplies in order to prevent the spread of this epidemic and provide prime care to the infected also widens. However, as several countries are planning to start re-opening of the economy, most countries will allow elective medical procedures to resume. This move will gradually improve the business of the brain computer interface over the long term.

 

Among the geographies, North America region is expected to hold the largest share in the global brain computer interfaces market as countries such as the U.S. and Canada are the front-runners of the adoption of technology-based medical equipment. Further, the increasing investment for developing advanced healthcare solutions, increasing R & D initiatives from the educational sector, and expanding research laboratories focused on brain computer interface (BCI) development are the factors driving the market growth in the North America region. Moreover, the Asia pacific brain computer interface market is identified as the fastest-growing market during the forecast period, owing to a continuous focus on sensor-based technologies and continuous adaptation to advanced healthcare solution.

 

Segment Covered

The report on the global brain computer interface market covers segments such as type and application. On the basis of type, the sub-markets include invasive BCI, non-invasive BCI, and partially invasive BCI. On the basis of application, the sub-markets include communication & control, healthcare, smart home control, entertainment & gaming, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Mind Technologies Inc, Covidien, PLC, Compumedics, Ltd., Natus Medical, Inc., Nihon Kohden Corporation, Integra Life Sciences Corporation, CAS Medical Systems, Advanced Brain Monitoring Inc., Iwinks, and InteraXon.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of brain computer interface market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount