Global neurofeedback market is estimated to be valued at US$ 1,253.5 million in 2023 and is expected to exhibit a CAGR of 7.33% during the forecast period (2023-2030).
Increase in inorganic growth strategies such as acquisitions by the key players in the market is expected to drive the market growth over the forecast period. Moreover, an increase in the initiatives of government and non-government organizations to increase the awareness among people regarding mental disease is expected to drive the market growth.
Global Neurofeedback Market – Driver
Increasing Prevalence of Mental Disorders
Increasing prevalence of mental disorders such as anxiety, schizophrenia, depression, and others is expected to drive growth of the global neurofeedback market over the forecast period. For instance, data published in April 2021, on National Library of Medicine, stated that schizophrenia affects more than 1.5 million Canadians every year.
Figure 1. Global Neurofeedback Market Share (%), By System, 2023
Figure 2. Global Neurofeedback Market Share (%), By Region, 2022
Global Neurofeedback Market Segmentation:
The global neurofeedback market report is segmented into product, system, application, end user and region
Based on Product, the market is segmented into amplifiers, electrodes or sensors, and computer software. Out of which, amplifiers segment is expected to dominate the neurofeedback market during the forecast period and this is attributed to increase in the usage of amplifiers in the neurofeedback systems/devices. For instance, on October 22, 2020, Narbis, a medical device company launched a new pair of smart glasses uses a technique invented at National Aeronautics and Space Administration (NASA) to measure users’ brainwaves.
Based on System, the market is segmented into Frequency/Power Neurofeedback System, Slow Cortical Potential Neurofeedback (SCP-NF) System, Low-Energy Neurofeedback System (LENS), Hemoencephalographic (HEG) Neurofeedback System, Live Z-Score Neurofeedback System, Low-Resolution Electromagnetic Tomography (LORE-TA) and Functional Magnetic Resonance Imaging (fMRI). Out of which, Frequency/Power Neurofeedback System segment is expected to dominate the market over the forecast period and this is attributed to increase in the number of research and development for treatment of various diseases such as anxiety, headache, and others using frequency/power neurofeedback system. For instance, on May 20, 2022, Infra-Low Frequency Neurofeedback in Tension-Type Headache: A Cross-Over Sham-Controlled Study was conducted by M. V. Lomonosov Moscow State University, Moscow, Russia.
Based on Application, the market is segmented into attention deficit hyperactivity disorder (ADHD), anxiety, depression, epilepsy, insomnia, drug addiction, schizophrenia, and others. Attention deficit hyperactivity disorder (ADHD) segment is expected to dominate the market over the forecast period and this is attributed to increase in the clinical trials of using neurofeedback for treatment of attention deficit hyperactivity disorder (ADHD). For instance, on May 7, 2020, Fondation Lenval, a children welfare organization, initiated a study titled “Comparison of 2 Neurofeedback Protocols in the Treatment of Attention Deficit Hyperactivity Disorder in Children and Adolescents”. This study is estimated to be concluded by December 2023.
Based on End User, the neurofeedback market is segmented into hospitals, ambulatory surgical center, clinics, and others. Hospitals segment is expected to dominate the market over the forecast period and this is attributed to the increase in the prevalence of mental disorders such as anxiety, depression, schizophrenia and others as this will increase hospitalization of patients. For instance, as per data published on January 12, 2022, on treatment advocacy center, a non-profit organization, stated that in the U.S schizophrenia affected around 2.8 million people in 2021.
Among all segmentation, application segment has highest potential due to increase in the number of traumatic brain injuries. For instance, according to an article published in March 2022, on Centers for Disease Control and Prevention (CDC), stated that in the U.S. there were around 64,362 Traumatic Brain Injury (TBI) related deaths in 2020.
Neurofeedback Market Report Snapshots
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients