Global Brain Computer Interface Market by Product Types (Invasive, Partially Invasive and Non-invasive), Application Types (Healthcare and Communication & Control), End User (Military and Medical) and Regions (Asia Pacific, Europe, North America, Afri

The brain computer interface market was valued at approximately USD 1.2Billion in 2019 and is expected to surpass USD 5Billion by 2026, expanding at a CAGR of % during the forecast period 2020-2026. Brain-computer interfaces (BCIs) acquire brain signals, analyze them, and translate them into commands that are relayed to output devices that carry out desired actions. BCIs do not use normal neuromuscular output pathways. The main goal of BCI is to replace or restore useful function to people disabled by neuromuscular disorders such as amyotrophic lateral sclerosis, cerebral palsy, stroke, or spinal cord injury. From initial demonstrations of electroencephalography-based spelling and single-neuron-based device control, researchers have gone on to use electroencephalographic, intracortical, electrocorticographic, and other brain signals for increasingly complex control of cursors, robotic arms, prostheses, wheelchairs, and other devices. Brain-computer interfaces may also prove useful for rehabilitation after stroke and for other disorders. In the future, they might augment the performance of surgeons or other medical professionals. Brain-computer interface technology is the focus of a rapidly growing research and development enterprise that is greatly exciting scientists, engineers, clinicians, and the public in general.

Market Trends, Drivers, Restraints, and Opportunities:

Governments in various nations across the globe are taking necessary steps by implementing measures to improve the basic infrastructure of the nation. In the due course of implementing these action plans, healthcare has emerged as a primary concern. In regions across U.S. and Europe, regular funds are being allotted for conducting research studies. Brain computer interface technology research studies are encouraged as they majorly benefit the population of the nation in improving the health of individuals. Such funding sources from the government, especially in developing economies, such as India and China, are further expected to positively impact the brain computer interface systems market, thereby driving the growth of brain computer interface market.
The lack of skilled technicians to operate the complex devices is the factor that is restraining this market.
Continuous research is being undertaken to develop treatments for fatal conditions such as brain disorders and injuries, sleep disorders and cerebrovascular The number of brain-related conditions are increasing and this is predicted to boost the market and provide opportunities for the brain computer interface developers.

Scope of the Report

The report on the brain computer interface market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2020Historic Data2019Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, Middle East and Africa, Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Brain Computer Interface Segment Insights:

Based on product types, the market is segmented into invasive, partially invasive and non-invasive. Non-invasive brain computer interface (BCI) held the largest share in 2019 owing to the high applicability of this technology for products such as headsets, amplifiers, and gaming sticks. Non-invasive brain computer interface system is considered to be the safest as the approach is less intrusive, which is further fueling the segment growth. Invasive BCI is expected to witness lucrative growth over the forecast period owing to the ability of this BCI technology in providing functionality to paralyzed people through brain-controlled robotic legs and arms. Partially invasive BCI is also expected to register a significant growth rate over the forecast period owing to its tremendous technological advancement and easy adaptability. In terms of application types, the market is bifurcated into healthcare, communication & control. Healthcare dominated the brain computer interface market in 2019 owing to the high applicability of brain computer interface technology for the treatment of sleep disorders and neurological diseases. Brain computer interface (BCI) technology is increasingly used while treating paralytic patients and for the study of neuroscience. In terms of end use types, the market is bifurcated into military and medical. The medical segment dominated the market in 2019 owing to the significant role BCI technology plays in assisting disabled patients. BCI assists in the movement of patients suffering from diseases such as Parkinsonism, epilepsy, paralysis, and Alzheimer’s disease to independently carry out activities such as operating wheelchairs and prosthetics. The military segment is expected to witness lucrative growth over the forecast period owing to the increased use of brain computer interface during war activities. On the basis of regions, the market is divided into North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the market for brain computer interface in 2019, primarily due to high R&D investments and a large number of clinical trials being conducted on brain devices in the region. In addition, rising incidences of neurodegenerative conditions such as Parkinson's, Alzheimer's, and Huntington's disease are expected to propel the regional market growth. Asia Pacific is expected to exhibit the highest growth rate over the forecast period. Significant untapped opportunities, increasing healthcare expenditure, and growing awareness amongst patients are expected to drive the demand for brain computer interface in this region. Moreover, low cost manufacturing sites and favorable taxation policies in this region have attracted foreign players to invest in this lucrative market.

Competitive Landscape:

The global brain computer interface market has been fragmented into various regional and global players. Key market players include Natus Medical, Mind Solutions, Compudemics, Emotiv Incorporation, and Neurosky. The various small and large manufacturers present in the market result in an intense competition among manufacturers. Major players are focusing on strategies such as mergers, acquisitions, new product launches, partnerships, and collaborations to increase their market share. In September 2018, Medtronic acquired Mazor Robotics to improve its robotic surgery portfolio. In October 2017, Natus Medical acquired the neurosurgery business assets of Integra Lifesciences in order to gain a market share in the neurosurgery space. In May 2018, Compumedics collaborated with a China-based organization, Health 100, in order to improve its product portfolio in sleep technology. In March 2019, Integra received approval for DuraGen Dural Regeneration Matrix in Japan, which helped the company expand its presence.

The Global Brain Computer Interface Market has been segmented on the basis of

Product types

Invasive
Partially Invasive
Non-invasive

Application types

Healthcare
Communication & Control

End user types

Medical
Military

Regions

Asia Pacific
Europe
North America
Middle East and Africa
Latin America