Global Wearable EEG Devices Market Size By Type (32-Channel Type, Multichannel), By Application (Hospitals & Clinics, Neurology Centers), By Geographic Scope And Forecast

Wearable EEG Devices Market Size And Forecast

Wearable EEG Devices Market size was valued at USD 1.43 Billion in 2024 and is projected to reach USD 1.94 Billion by 2031, growing at a CAGR of 8.10% during the forecasted period 2024 to 2031.

Rising prevalence of neurological disorders and increasing demand for non-invasive monitoring are the factors driving market growth. The Global Wearable EEG Devices Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Wearable EEG Devices Market Definition

Wearable EEG (Electroencephalography) devices are portable and non-invasive technologies designed to monitor and record electrical activity in the brain. EEG measures the electrical potentials generated by neurons in the brain, providing insights into brain function and activity. Wearable EEG devices are distinguished by their compact and user-friendly designs, making them suitable for continuous monitoring outside of traditional clinical settings.

This novel wearable EEG solution works with EEG applications in settings including general practice, psychiatry, paramedic care, and intensive care units where access to technological support is either limited or nonexistent. Additionally, it makes home or clinical applications based onpossible. Identifying the user’s mood and emotions based on valence and arousal; estimating the user’s cognitive state in terms of alertness and focus levels; and identifying the user’s intents based on visualizing movements of body parts.

Furthermore, Neurofeedback is a method that uses EEG technology to help people self-regulate their brain activity. Electrodes are applied to the scalp during neurofeedback sessions to measure brainwaves, which are subsequently shown on a monitor or audibly feedbacked. By employing different strategies, such visualization or relaxation, the person can monitor their brain activity and learn to consciously adjust it. People with a variety of neurological or psychiatric disorders, such as depression, anxiety, or ADHD, may find this therapy beneficial. It has also been demonstrated that neurofeedback enhances cognitive function, such as focus, memory, and attention. The non-invasive, portable, and adjustable nature of EEG-based neurofeedback makes it a popular tool for use in both clinical and research contexts.

There is a growing global awareness of mental health issues, including stress, anxiety, and attention disorders. Neurofeedback, which involves real-time monitoring and training of brain activity, has gained attention as a non-invasive approach to address these concerns. Advances in EEG technology and signal processing have improved the accuracy and efficiency of neurofeedback systems. Wearable EEG devices and other portable technologies have made neurofeedback more accessible to a broader audience.

Global Wearable EEG Devices Market Overview

The global Wearable EEG Devices Market is experiencing remarkable growth due to the rising prevalence of neurological disorders. This growth is being propelled by factors such as improved healthcare facilities, government initiatives, and increased awareness of mental health. The market is also being shaped by technological advancements, increasing research and development activities, and strategic collaborations among key players.

Furthermore, the market holds immense potential in emerging markets, where there is a growing focus on improving healthcare infrastructure, increasing disposable incomes, changing lifestyles, and higher healthcare expenditure. The market is highly competitive, characterized by intense competition among key players. To strengthen their position, these players are focusing on product innovation, strategic collaborations, and geographical expansion.

One of the main drivers of the market is the increasing demand for early diagnosis and continuous monitoring of neurological disorders, such as epilepsy, Parkinson’s disease, Alzheimer’s, and sleep disorders. Wearable EEG devices offer a non-invasive, portable, and relatively affordable way to track brain activity in real-time, aiding in early detection and better management of these conditions. Wearable devices also provide personalized treatment plans, optimize medication efficacy, and develop targeted interventions for specific neurological conditions. This is possible due to the continuous data collection in natural environments, providing richer insights into individual brain patterns and responses.

Neurological disorders are a group of conditions that affect the brain, spinal cord, and nerves throughout the body. Some of the most common neurological disorders include Alzheimer’s disease, Parkinson’s disease, epilepsy, multiple sclerosis, and migraine. According to recent studies, the prevalence of these disorders is increasing. For instance, a new study reveals that the annual incidence of Parkinson’s disease is 50% higher than current estimates of 60,000 diagnoses annually.

Another study found that the global prevalence of multiple sclerosis has risen since 2013. Epilepsy accounts for a significant proportion of the world’s disease burden, affecting around 50 million people worldwide. Alzheimer’s disease is also on the rise, with more than 6 million Americans of all ages currently living with the disease. Finally, a recent study found that older people who were infected with COVID-19 show a substantially higher risk of developing Alzheimer’s disease, with the risk for developing Alzheimer’s disease in older people nearly doubling over a one-year period.

Global Wearable EEG Devices Market Segmentation Analysis

The Global Wearable EEG Devices Market is segmented on the basis of Type, Application, and Geography.

Wearable EEG Devices Market, By Type

• 32-Channel Type
• Multichannel
• 12-Channel Type
• 14-Channel Type
• 5-Channel Type
• Others

Based on Type, The market is segmented into 32-Channel Type, Multichannel, 12-Channel Type, 14-Channel Type, 5-Channel Type, and Others. 32-Channel Type accounted for the largest market share of 33.19% in 2023, with a market Value of USD 18.84 Million and is projected to grow at a CAGR of 6.79% during the forecast period.

Wearable EEG Devices Market, By Application

• Hospitals & Clinics
• Neurology Centers
• Research and Academics
• Others

Based on Application, The market is segmented into Hospitals & Clinics, Neurology Centers, Research and Academics, and Others. Hospitals & Clinics accounted for the largest market share of 40.51% in 2023, with a market Value of USD 23.00 Million and is projected to grow at a CAGR of 6.96% during the forecast period.

Wearable EEG Devices Market, By Geography

• North America
• Europe
• Asia Pacific
• Rest Of The World

Based on Geography, The Global Wearable EEG Devices Market is segmented into into North America, Europe, Asia Pacific, and Rest of the World. North America accounted for the largest market share of 53.73% in 2023, with a market Value of USD 30.51 Million and is projected to grow at the highest CAGR of 8.05% during the forecast period.

Key Players

The “Global Wearable EEG Devices Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are Emotiv, ANT Neuro, Interaxon, BioSerenity, Neuro Management LLC, Brainco (Focus Calm), Wearable Sensing, Brainbit, Neurosky, Compumedics Neuroscan, and Others.

Our market analysis also entails a section solely dedicated for such major players wherein our analysts provide an insight to the financial statements of all the major players, along with its product benchmarking and SWOT analysis.

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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled.
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