Neurofeedback Market Scope
Neurofeedback is also known as EEG (electroencephalogram) biofeedback which is a non-invasive method of direct brain function training. It is a therapeutic intervention that provides immediate feedback from a computer program by assessing a person's brainwave activity. It uses the electrodes (act as a microphone) or headband with sensors placed on the scalp which records the EEG and control auditory, visual signals and all these responses are recorded by making them watch a movie to check their brain activity (emotional activity and responses) as to how their brain is responding. On the basis of this method, the mental professionals make the diagnosis, the cause, and its treatment.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Neuro Care Group (Germany), Myndlift Ltd (Israel), Brainmaster Technologies, Inc. (United States), Mitsar Co. Ltd (Russia), Emotiv Inc. (United States), Brainworks (United States), Mindfield Biosystems Ltd. (United Kingdom), Narbis (United States), Thought Technology Ltd. (Canada), InteraXon Inc. (Muse) (Canada), Mind Media (Netherlands) and NeuralScan (United States) |
CAGR | % |
The Neurofeedback market is highly competitive but only in some regions. The players of the Neurofeedback market are planning to expand their market and service geographically by investing in research and development. They are organizing various programs so as to spread awareness about mental health and other issues. The companies are also focusing on the expansion of their product portfolio such as software systems, headbands required in the therapy which will maintain their competitive edge in the market. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Neurofeedback market throughout the predicted period.
Neuro Care Group (Germany), Myndlift Ltd (Israel), Brainmaster Technologies, Inc. (United States), Mitsar Co. Ltd (Russia), Emotiv Inc. (United States), Brainworks (United States), Mindfield Biosystems Ltd. (United Kingdom), Narbis (United States), Thought Technology Ltd. (Canada), InteraXon Inc. (Muse) (Canada), Mind Media (Netherlands) and NeuralScan (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Wearable Sensing (United States), Stens Corporation (United States) and BEE Medic (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Neurofeedback market by Type , by Application (Neurocare Clinics, Hospitals, Training Institutes, Scientific Research and Others) and Region with country level break-up.
On the basis of geography, the market of Neurofeedback has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In July 2020, Children acquire language through an informal process of exposure to language and social interactions. This process Learning a language through listening to others speak is referred to as auditory perceptual learning. Reading to and speaking with children helps them to recognize and differentiate sounds
In October 2019, Narbis announced the launch of the online availability of its proprietary Narbi smart glasses that use principles of neurofeedback and algorithm developed by NASA to eliminate distractibility and helps in concentration while reading, studying, working on the computer or doing homework. The company uses neurofeedback with a penalty and reward model based on brain patterns called operant conditioning. Narbis’ technology requires only three sensors—one behind each ear and one on top of the head—and an app powered by a NASA algorithm to track relaxation, distraction, and focus. When distracted, the glasses darken. When relaxed and concentrating, the glasses instantly clear.
"Before using any biofeedback device for clinical purposes, the provider must be certain that it is registered with the FDA. An FDA registered device may not be labeled for the application the therapist intends to use it for. If the device is not labeled for the disorder to be treated, the provider is must inform the client – in writing - that the provider proposes to use the device “off label” and the client must agree in writing."
Influencing Trend:
The Emergence of Wearable Technology for Neurofeedback and Emerging Use of Neurofeedback Therapy on Children to Enhance the Mental Fitness
Market Growth Drivers:
Increasing prevalence of anxiety, ADHD, and depression in people across the world leading to other problems like insomnia. It needs to be managed, regulated for emotional wellbeing resulting in better sleep management.
Challenges:
Technical Problems with Systems and Softwares used in Neurofeedback and Less Number of Licensed Mental Health Professionals
Restraints:
Expensive Neurofeedback Session Might be the Hindrance for the Market and Risk of Side Effects Associated with Neurofeedback Medication
Opportunities:
Introduction of Various Family Welfare Programs Regarding Neurofeedback and its Benefits and Awareness About Mental Health and Fitness
Key Target Audience
Neurofeedback Therapy Providers, Neurofeedback System Manufacturers, Neurofeedback Software Developers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Psychologists, Hospitals and Others