The 2022 global market size for Brain-Computer Interfaces (BCI) reached USD 1.74 Billion, with a projected robust compound annual growth rate (CAGR) of 17.6% throughout the forecast period. The escalating incidence of disorders such as Alzheimer's, Parkinson's Disease (PD), and Epilepsy stands out as a primary driver propelling the growth of market revenue. BCIs leverage brain impulses to control external devices, offering assistance to individuals with disabilities.
BCIs enable paralyzed individuals to spell words on a computer screen or regain control over their limbs. Deep Brain Stimulation (DBS) is commonly employed in treating refractory PD and various other movement disorders. This involves the implantation of electrodes in deep brain nuclei, with continuous stimulation adjusted by physicians to enhance treatment efficacy. Research indicates that PD affects nearly one million people in the U.S., and this figure is anticipated to rise to 1.2 million by 2030. PD ranks as the second most prevalent neurological disease, following AD, with approximately 90,000 new diagnoses in the U.S. each year.
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Market Overview:
BCI serves as a bridge connecting hardware and software systems, enabling the control of computers or external devices solely through cerebral activity. The main focus of BCI research is to provide communication capabilities for individuals facing severe impairments due to neurological conditions like spinal cord injury, brain stem stroke, and amyotrophic lateral sclerosis. This, in turn, is contributing to the expansion of market revenue. Cognitive monitoring employs Real-Time Brain Signal Decoding (RBSD) to gather information about the ongoing cognitive status of the user.
Key Players covered in this report are
· Natus Medical Incorporated
· g.tec medical engineering GmbH Austria
· Medtronic
· Brain Products GmbH
· Integra LifeSciences
· Advanced Brain Monitoring, Inc
Based on Product Type market is segmented into:
- Medical
- Military
- Others
Based on Application market is segmented into:
- Healthcare
- Disabilities Restoration
- Brain Function Repair
- Smart Home Control
- Communication & Control
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Based on Region market is segmented into:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East & Africa
Major Points covered in this report are as below:
- An analysis of Brain-Computer Interface (BCI) industry development trends and marketing channels, as well as an assessment of the feasibility of new investment projects, is presented in the study.
- In addition to providing key statistics on the industry, the report provides valuable guidance and direction for companies and individuals interested in this market through tables and figures.
- In addition to developing policies and plans, this report analyzes manufacturing processes and cost structures. It also provides information about import/export demand, costs, prices, revenues, and gross margins.
- This report provides information on the market status of Brain-Computer Interface (BCI) manufacturers and provides valuable insight into the market for companies and individuals.
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