The global neurofeedback market is estimated to be valued at US$ 1,253.5 million in 2022 and is expected to exhibit a CAGR of 7.33% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.
The neurofeedback market involves techniques that use real-time displays of brain activity, most commonly electroencephalography (EEG) biofeedback, to teach self-regulation of brain function.Neurofeedback enables monitoring of brain waves in real-time and provides visual, auditory or tactile feedback to reinforce EEG patterns associated with calm, focused and engaged mental states. This helps in training individuals to voluntary control their own brain function.
Market key trends:
One of the major trend in neurofeedback market is rising adoption of alpha-theta neurofeedback training. Alpha-theta neurofeedback training uses real-time monitoring of brainwaves to trigger alpha (7.5-12 Hz) and theta (4-7 Hz) brainwave activity associated with deep relaxation and access to unconscious memories through guided imagery. This technique is gaining increasing acceptance in treatment of depression, anxiety, PTSD, addiction and attention problems as it helps improve mood, reduce stress and enhance self-awareness by accessing unconscious parts of the brain.
The global neurofeedback market is segmented by hardware into EEG, EEG sensors, and other devices. Among them, the EEG sensors segment dominates the market owing to increasing usage of EEG sensors for neurofeedback therapy. EEG sensors help in recording neural oscillations or brain wave activity by detecting voltage fluctuations resulting from ionic current flows within the neurons of the brain. They require wearing sensors on the scalp that detect the electromagnetic fields produced by brain activity. This helps in collecting real-time data about a patient’s brainwaves which is fed back to them to help achieve control over their brain activity.
The global Neurofeedback Market Share is expected to witness high growth, exhibiting CAGR of 7.33% over the forecast period 2022-2030, due to increasing adoption of neurofeedback therapy for treating neurological disorders such as ADHD, insomnia, anxiety, depression and epilepsy. The global neurofeedback market size is estimated to reach US$ 1,253.5 million by 2023.
Regional analysis North America dominates the neurofeedback market owing to rising awareness regarding neurofeedback therapy in the region. The U.S. holds the highest share in the North American as well as global neurofeedback market due to growing usage of neurofeedback for the treatment of ADHD and seizures. Europe is the second largest regional market due to increasing adoption of neurotherapy for treating mental health disorders in the region.
Key players Neuro Care Group, Brainmaster Technologies, Inc., and Thought Technology Ltd. are the leading players operating in the neurofeedback market. Key players are focusing on new product launches and strategic collaborations to strengthen their position in the market. For instance, in March 2021, Neuro Care Group launched an app-based neurofeedback device called Enclothed which can be used at home.