The global Brain
Health Devices Market, By Device Type (Magnetic Resonance Imaging, Magneto
Encephalogram, Computed Tomography, Transcranial Doppler Device, and Others),
by application (Stroke, Dementia, Epilepsy, Dyslexia, and Others), by end user
(Hospitals, Specialty Clinics, and Others), and by region (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa), was valued at US$
9,070.5 million in 2018, and is
projected to exhibit a CAGR of 7.7%, during the forecast period (2019-2026), as
highlighted in a new report published by.
Increasing number of regulatory
approvals for the launch of brain health devices is expected to propel growth
of the global brain health devices market. For instance, in March 2019,
NeuroCatch Inc. received a Health Canada medical device license for its
NeuroCatch Platform, which is a rapid neuro-physiological brain function
assessment system. With the Health Canada medical device license, company is
able to make the NeuroCatch Platform available for brain-focused clinicians and
researchers in Canada. Moreover, increasing prevalence of neurological conditions
such as epilepsy, dementia, and Parkinson’s disease are expected to increase
demand for brain health devices which, in turn, is expected to contribute to
the market growth. For instance, according to the World Health Organization
(WHO), in May 2019, around 50 million people across the globe were diagnosed
with dementia. According to the WHO estimation, on a global scale, 10 million
new cases of dementia diagnosed every year. Furthermore, according to global
burden of Parkinson’s disease (published in the Neurology Lancet), in 2016, 6.1
million people were diagnosed with Parkinson's disease around the world.
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Browse 23 Market Data Tables and
19 Figures spread through 157 Pages and in-depth TOC on "Brain Health
Devices Market, By Device Type (Magnetic Resonance Imaging, Magneto
Encephalogram, Computed Tomography, Transcranial Doppler Device, and Others),
by application (Stroke, Dementia, Epilepsy, Dyslexia, and Others), by end user
(Hospitals, Specialty Clinics, and Others), and by region (North America, Latin
America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to
2026"
Increasing number of product
launches by key players in the brain health devices market are driving growth
of the brain health devices market. For instance, in June 2018, NeuroPace, Inc.
launched its Next Gen RNS System for the treatment of refractory epilepsy. The
RNS System is a type of brain-computer interface intended to treat epileptic
seizures by continuously monitoring brain waves, recognizing patient’s seizure
onset fingerprint, and automatically responding with imperceptible electrical
pulses before seizures occur. However, increasing number of product recalls are
expected to hamper growth of the brain health devices market. For instance, in
September 2018, the U.S. Food and Drug Administration (FDA) issued a product
recall notice for the Neuro Omega System including the Drive Headstage unit,
developed by Alpha Omega Engineering, due to a risks related to improper
electrode connection, which could cause the device to adopt high electrical
stimulation and damage brain tissue. Moreover, in the same year, the U.S. FDA
issued a product recall notice for NeuroBlate System, developed by Monteris
Medical, Inc. owing to issues such as unintended heating which can result in
brain damage and death. Thus, product recalls are estimated to hinder growth of
market and result in higher production costs for manufacturers as they have to
discard whole production batch following product defects.
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Report: https://www.coherentmarketinsights.com/market-insight/brain-health-devices-market-1095
Key Takeaways of the Global Brain
Health Devices Market:
The global brain health devices
market is expected to expand at a CAGR of 7.7% during the forecast period
(2019–2026), owing to increasing focus on technological innovations by key
players to provide better patient outcomes. For instance, in January 2019,
Boston Scientific Corporation launched its Vercise Primary Cell (PC) and
Vercise Gevia Deep Brain Stimulation (DBS) Systems featuring the Vercise
Cartesia Directional Lead. The new system has been designed to control the
range, shape, position and direction of electrical stimulation to treat
symptoms of Parkinson's disease (PD) through highly-personalized therapy.
Increasing acquisitions by key
players are expected to drive growth of the global brain health devices market.
For instance, in August 2015, Medtronic plc. acquired Medina Medical, developer
of Medina Embolization Device (TM). With this acquisition, Medtronic has
strengthened its hemorrhagic stroke product portfolio. The Medina Embolization
Device (TM) is an intrasaccular 3D mesh implant that fills the inside of a brain
aneurysm.
Major players operating in the
global brain health devices market include BrainScope Company, Inc., Bio-Signal
Group Corp., Cadwell Industries, Inc. Advanced Brain Monitoring, Inc.,
Compumedics Ltd., Elekta, DePuy Synthes, Electrical Geodesics, Inc., Medtronic,
GE Healthcare, MEG International Services Ltd, Natus Medical, Inc., Neurowave
Systems Inc., Nihon Kohden Corporation, and Philips Healthcare.
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