Over the course of the forecast period, it is anticipated that the prevalence of mental diseases such anxiety, schizophrenia, depression, and others would expand. Over the forecast period, the market expansion is anticipated to be driven by an increase in inorganic growth tactics, such as collaborations by key players. For example, in November 2021, OVID Clinics GmbH, a business that offers patients clinical psychotherapy services and creates psychedelic molecules, and Divergence NeuroTechnologies, a business specialising in the research and development of a data-driven, cloud-based neuro platform using EEG analysis and machine learning.
The global Neurofeedback Market is anticipated to reach US$ 1,253.5 million in 2023 and is predicted to grow at a CAGR of 7.33% from 2023 to 2030.
Top Companies in the Neurofeedback Industry:
1. Neuro Care Group: Established in 2014. German headquarters are in Ilmenau. Owner of a network of clinics with a focus on mental health that aim to provide evidence-based care with top-tier effectiveness. Using neuromodulation technology combined with psychotherapy, the company provides non-invasive choices for mental health, pain management, and rehabilitation, assisting clinicians and patients in achieving significant and long-lasting therapeutic results.
2. Myndlift Ltd: Established in 2014. Headquarters in Israel's Tel Aviv. Creator of a specialised remote neurofeedback system intended to enhance mental capacities. With the use of a set of mind-controlled, gamified exercises that are based on an evidence-based technique, the company's technology allows healthcare providers to assist individuals with ADHD in improving their concentration. As part of the RAKIA programme, which is run by the Ramon Foundation in collaboration with the Israel Space Agency under the Ministry of Science and Technology, Myndlift revealed in 2021 that they had been chosen as one of the technologies to launch into space in 2022 on the Axiom-1 mission.
3. Mitsar Co. Ltd: Established in 1994. head office in Russia. Cable, wire, and electrical equipment supplier. Distribution of cabling systems, panel equipment, cable, and wiring accessories in and around Russia are among the company's goods and supply services. The SmartBCI series of products includes multichannel wearable and wireless EEG amplifiers, peripherals, and cutting-edge software prepared for neuroscience research.
4. Emotiv: The American headquarters. Owner of a bioinformatics business that seeks to advance worldwide brain research by assisting individuals and experts in understanding the brain. The company offers analytics that can be used to enhance performance and power new applications & services in the neuroscience research, health and wellness, automotive, consumer research, education, and entertainment industries, providing researchers with extensive personal insights based on ML/AI on brain data. The company assists in gaining accurate insights into cognitive and emotional states in real-time through electroencephalography.
5. Brainworks: The American headquarters. Established in 1988. For the newspaper and media publishing sector, a developer of customer relationship management (CRM) and ad monitoring solutions. The business provides fully integrated billing, accounts receivable, contract and credit management, classified pagination, ROP advertisement layout, and a cutting-edge CRM system that supports web, tablet, laptop, and smartphone platforms. It also offers fully integrated advertising, circulation, advertisement production tracking, and online proofing software platforms for print and online advertisements. The acquisition of eBusinessLabs Inc. by Brainworks Ventures Inc. (OTC BB: BRAV), an Atlanta-based venture development firm led by Georgia State Economist Donald Ratajczak, has been finalised.
6. Mindfield Biosystems Ltd.: Headquarter in France, Paris. Created in 2005. Executive search service provider. Real headhunting strategies are used in the company's recruitment tasks and missions to find team members that share the same values as the business.
7. Narbis: Office in the United States. Created in 2013. Creator and maker of wearable equipment with the goal of using neurofeedback to teach users to concentrate and focus well. The company's technology was first created at NASA together with a proprietary conditioning mechanism incorporated into smart glasses, which helps users focus on the work at hand and assess how well they perform during the session. Marico will purchase a 60% stake in Apcos, which owns Just Herbs
*Definition: Neurotherapy, also called neurofeedback and electroencephalogram (EEG) biofeedback, is a drug-free treatment that helps people improve their brain function.
