The wearable EEG devices market was valued at US$ 745.05 million in 2018 and it is projected to reach US$ 1,556.35 million in 2027; it is expected to grow at a CAGR of 8.7% from 2019 to 2027.
Electroencephalography (EEG) is the examination of electrical brain action along with the scalp. Electroencephalography (EEG) based headsets are wearable machines that can diagnose various levels of stress, interest, focus, excitement, engagement, and relaxation. Moreover, recently, wearable EEG devices have sub-niches such as meditation, in which the user is better guided via self-care exercises. EEG is among the most reliable and predicative pointers when reviewing human cognition, assessing a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy. And also, the device is used to identify sleep disorders, coma, anesthesia, encephalopathies, and brain death. The growth of the global wearable EEG devices market is attributed to the growing incidences of neurovascular disorders and significantly rising elderly population. However, high cost of wearable EEG devices is the major factor hindering the market growth.
The global wearable EEG devices market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
Lucrative Regions for Global Wearable EEG Devices Market
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Market Insights
Growing Incidences of Neurovascular Disorders to Drive Global Wearable EEG Devices Market Growth
Neurological diseases are the diseases of the spine, brain, and the nerves that connect them and provides oxygenated blood. The neurovascular systems are highly dependent on the continuous supply of oxygen and nutrients, which has been supplied by the arteries and veins. The amount of oxygen and nutrients to the brain is essential for its working; therefore, a defect in the system can impair the function, and it may quickly become a life-threatening factor.
The neurovascular diseases include hemorrhage stroke, ischemic stroke, brain tumors, and more. The genetic disorders, lifestyle habits, related chronic conditions may cause the development of neurovascular diseases. During the last few years, the predominance of neurological disorders has increased significantly. For instance, epilepsy is one of the neurovascular diseases that is rising significantly across the globe.
The rising cases of brain tumors worldwide is the primary factor for the Wearable EEG Devices market growth. For instance, as per the data of Lancet Neurol 2019; 18: 376–93, approximately 330 000 cases of brain and central nervous system (CNS) cancer were reported in the country in 2016. The most regular type of essential CNS cancer is Glioma, which is a group of malignant brain tumours that includes high-grade Glioma or glioblastoma and low-grade Glioma (astrocytoma, oligodendroglioma).Epilepsy is a non-communicable disease of the brain that affects people of every age group. According to data from the World Health Organization (WHO), in 2019, around 50 million people across the globe have epilepsy, which makes it one of the most common neurological diseases worldwide. Approximately 80% of people with epilepsy are living in low- and middle-income nations. The projected ratio of the overall population with active is between 4 and 10 per 1000 people.
Moreover, data from World Health Organization (WHO), 2010, stated that the total number of people with dementia across the globe is reported at 35.6 million and is anticipated to nearly double every 20 years, to 65.7 million in 2030 and around 115.4 million in 2050. The new cases of dementia per year across the globe are approximately 7.7 million, implying one new case every four seconds. The majority of the increase will be in emerging nations, the fastest growth in the aging population in China, India, and their south Asian and western Pacific neighbors. Thus, it is anticipated that the increasing prevalence of neurovascular diseases is likely to fuel the growth of the market during the forecast period.
Channel -Based Insights
In terms of channel, the global wearable EEG devices market is segmented into 5-channel type, 14-channel type, 32-channel type, and others. In 2018, the 32-channel type segment held largest share of the market. Moreover, the same segment is estimated to register the highest CAGR during the forecast period.
Global Wearable EEG Devices Market, by Channel – 2018 and 2027
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Application-Based Insights
Based on application, the global wearable EEG devices market is segmented into medical, neuromonitoring, gaming and others. The medical segment held the largest market share in 2018. Also, the same segment is estimated to grow at the fastest rate during the forecast period.
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Wearable EEG Devices Market: Strategic Insights
Market Size Value in US$ 745.05 Million in 2018 Market Size Value by US$ 1,556.35 Million by 2027 Growth rate CAGR of 8.7% from 2019-2027 Forecast Period 2019-2027 Base Year 2019
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Wearable EEG Devices Market: Strategic Insights
| Market Size Value in | US$ 745.05 Million in 2018 |
| Market Size Value by | US$ 1,556.35 Million by 2027 |
| Growth rate | CAGR of 8.7% from 2019-2027 |
| Forecast Period | 2019-2027 |
| Base Year | 2019 |
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Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
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The global wearable EEG devices market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
Global Wearable EEG Devices Market – by Channel
- 32-channel Type
- 14-channel Type
- 5-channel Type
- Others
Global Wearable EEG Devices Market – by Application
- Medical
- Neuromonitoring
- Gaming
- Others
Global Wearable EEG Devices Market – by Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
- South America and Central America (SCAM)
- Brazil
- Argentina
- Rest of SCAM
Company Profiles
- Advanced Brain Monitoring, Inc.
- ANT Neuro
- Natus Medical Incorporated
- Brain Products GmbH
- Compumedics Neuroscan
- Electrical Geodesics, Inc. (Koninklijke Philips N.V.)
- EMOTIV
- g.tec medical engineering GmbH
- Neuroelectrics
- Cadwell Industries, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Channel ; Application , and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Frequently Asked Questions
Electroencephalography (EEG) is the examination of electrical brain action along with the scalp. Electroencephalography (EEG) based headsets are wearable machines that can diagnose various levels of stress, interest, focus, excitement, engagement, and relaxation. Moreover, wearable EEG devices have sub-niches such as meditation, in which the user is better guided via self-care exercises. EEG is among the most reliable and predicative pointers when reviewing human cognition, assessing a subject's health condition, or observing their mental state. EEG is widely used to detect epilepsy.
Growing incidences of neurovascular disorders and the significantly rising elderly population is expected to propel the growth of the wearable EEG devices market. Moreover, increasing medical tourism in emerging nations is anticipated to drive the global market.
The cost of the wearable EEG devices is available as per the brands and needs of the consumer. There is three basic range of the Wearable EEG Devices, which includes, lower price range (US$ 99 – US$ 1,000), middle price range (US$ 1,000 – US$ 25,000), and upper price range (US$ 25,000+). The price of the wearable EEG devices varies according to the channel and electrodes.
The List of Companies
- Advanced Brain Monitoring, Inc.
- ANT Neuro
- Natus Medical Incorporated
- Brain Products GmbH
- Compumedics Neuroscan
- Electrical Geodesics, Inc. (Koninklijke Philips N.V.)
- EMOTIV
- g.tec medical engineering GmbH
- Neuroelectrics
- Cadwell Industries, Inc.
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