BRAIN HEALTH DEVICES MARKET ANALYSIS

High device costs can hamper the global brain health devices market growth. The cost of brain health devices like electroencephalogram (EEG) machines, intracranial pressure monitoring devices, oximeters, and transcranial dopplers devices are quite expensive, ranging from thousands to tens of thousands of dollars. This makes these devices unaffordable for many people globally especially in developing nations. The high cost is attributed to various factors like R&D involved in developing sophisticated brain monitoring technology is extensive that increases cost of device. Manufacturing complex devices requires high-precision engineering and expensive components like sensors and processors, which inflate prices. Commercial producers aim to recover their investments and earn profits, which further increases costs. Thus, many people facing financial constraints simply cannot afford these life-saving and crucial devices even if prescribed by doctors. When devices are unaffordable, it limits the number of potential customers significantly.

Market Opportunities: Integration of brain devices with mobile technology

The integration of brain devices with mobile technology can offer opportunities in the global brain health devices market. As more people adopt smartphones and other mobile gadgets, combining these with wearable brain devices allows for convenient real-time monitoring of brain activity. This move towards increased mobility and flexibility affords wider access to brain health solutions. By linking brain monitoring devices to mobile apps, users get a round-the-clock view of their brain function from the convenience of their phones. Data collected on brain signals, emotions, attention span, and others over extended periods while people go about their daily lives offers deeper insights compared to isolated clinical sessions. The constant feedback helps users track patterns and progress of conditions like Alzheimer's, depression, epilepsy. It also enables prompt medical interventions if any risks are detected.

This type of continuous monitoring ensures better management of brain health.  Powerful yet affordable computing in mobile devices allows for sophisticated data analysis of brain activities. Advances in miniaturization enables development of small, discreet and wireless brain-monitoring wearables compatible with mobile phones. As 5G networks expand globally, there will be exponentially more data that can be gathered and shared with doctors and care teams in real-time for evaluation. In 2022, according to a report published by The World Health Organization, dementia cases are estimated to triple by 2050, leading to huge demand for such mobile-enabled solutions to facilitate remote care and early detection.