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Speedy Regulatory Approvals Ensures Bright Future for Brain Health Devices Market

Rapid advancements in neurodiagnostics power growth in the brain health devices market. Patients seek to diagnose ailments early to maximize chances of treatment success. The National Institute of Neurological Disorders and Stroke is a body that analyses the brain and nervous system with the objective of minimizing the occurrence of neurological disease. The brain health devices market is expected to immensely benefit from regulatory approvals granted to devices. For e.g. – In 2019, the US Food and Drug Administration (FDA) granted GE Healthcare approval for its deep learning apex tomography equipment. Deep learning image reconstruction (DLIR) is a transformative technology that deploys a deep neural network (DNN) to create TrueFidelity CT scans.

Shift Towards Home Diagnosis Allows Devices to Dominate Brain Health Devices Market

Early medical diagnosis is best accomplished in a home environment with wearable devices. Thus, it is hardly surprising that devices accounted for the lion’s share of the product segment of the brain health devices market. This trend is predicted to continue throughout the forecast period with an increasing prevalence of various sleep, psychotic, neurological, and neurogenerative disorders.

Cash-Rich Tech Giants Make North America Lead Brain Health Devices Market

North America is anticipated to retain leadership in the brain health devices market because of the presence of several global giants. Tech giants such as Microsoft and Google should spearhead change with their huge investments in wearables. Another region to keep an eye on in the brain health devices market is APAC as emerging economies spend sizeable sums to manufacture brain dysfunction management devices. In 2017, India already had the second highest global incidence rate of dementia. All these factors are likely to aid companies in the APAC brain health devices market.

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Prohibitive Cost Restricts Mass Adoption of Brain Health Devices in Small Clinics

Brain health devices are prohibitively expensive to purchase and maintain, making it challenging for small healthcare providers and clinics to provide. A larger patient footfall in hospitals enables them to cover capital expenditure, making hospitals the largest users of brain monitoring devices for the foreseeable future. In addition, hospitals have the trained medical personnel necessary to effectively operate brain health devices.

Companies Profiled in the Brain Health Devices Market

Neurotechnogical innovation is proceeding at a breakneck pace in the brain health devices market, making devices available off the shelf. In 2013, the BRAIN initiative aided R&D pertaining to brain function. In 2019, Masimo received CE Mark authorization for its SedLine brain function monitor for children. Other companies involved in the brain health devices market are Advanced Brain Monitoring Inc., CAS Medical Systems Inc., Covidien PLC, Cadwell Laboratories Inc., Elekta AB, GE Healthcare, Integra LifeSciences Holdings Corporation, Natus Medical Inc., NeuroWave Systems Inc., Nihon Kohden Corporation, Philips Healthcare, and Siemens Healthineers.

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