The Global Brain Wave Analyzer Market was valued at USD 2.1 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.2% between 2021 to 2028. According to Vantage Market Research, the global brain wave analyzer market is projected to witness lucrative growth during the forthcoming years. Brain waves are generated when brain is actively performing tasks and is engaged in different mental activities.
Increasing Applications to Spur the Market Growth for Brain WaveAnalyzers
There are a wide range of applications that the brain wave analyzer provides namely, neurofeedback, it is also called the electroencephalogram biofeedback and it is a type of real time feedback from the brain. It can be used for the treatment of anxiety disorder, phobic disorders, hyperactivity disorders, bipolar disorders. Moreover, it is used for controlling and measurement of the brain waves and the body temperature. The second application is sleeping aid that is the sleeping pills also known as hypnotic drugs and performs basic function of inducing sleep and for the treatment of insomnia. In addition, quantum medicines these are drugs that provide fast, painless and diagnostic to entire body. These medicines balance the body and can be called as state of balance health. Moreover, quantum medicines are not invasive diagnostic and treat diseases without any side effects of radiation. It is different of different individuals and there are no side effects. These applications are expected to augment the market growth for brain wave analyzer over the coming years.
Due to COVID-19 pandemic the production and supply chain disruptions have occurred. It has impacted various sectors and countries all over the world. Moreover, the brain wave analyzer market experienced a negative growth. However, this has also provided opportunities for giving reliable information to decision makers.
The brain wave analyzer market in segmented by product type and applications. On the basis of product type the brain wave analyzer market is bifurcated into software and hardware. The market segmentation can also take place on basis of end user or application and hence the market for brain wave analyzer is bifurcated into quantum medicine, sleeping aid and neuro feedback.
Some of the major players operating in the global brain wave analyser market includes Nihon Kohden America Inc., Electrical Geodesics Inc., Medtronic, NeuroSky, Cadwell Laboratories Inc., Natus Medical Inc, Compumedics Ltd., Brain Products GmbH, NeuroWave Systems Inc., among others.