Brain Computer Interface Market Size, Share & Trends Analysis Report by Product (Invasive, Partially Invasive, Non-invasive and Others (EEG Based BCI and MEG and MRI)), By Application (Restoration of disabilities, Repair of brain function and Others), By End-use (Medicine, Military and Manufacturing) and By Geography (EU, NA, APAC, LATAM, and MEA) – Analysis, Size, Share, Trends, & Forecast from 2021-2027
REPORT HIGHLIGHT
The global Brain Computer Interface (BCI) market was valued at USD 1.48 billion by 2019, growing with 16.2% CAGR during the forecast period, 2021-2027.
A brain computer interface (BCI) is an innovative communication system that interprets human intentions or thoughts into a control signal. In this manner, a brain-computer interface delivers an innovative, nonmuscular communication channel that system developers can utilize in diverse applications, such as supporting biofeedback training in people suffering from neuro disorders such as epilepsy, supporting people with severe motor disabilities; attentional deficit hyperactivity disorders (ADHD) or stroke; or monitoring computer games. Every mental activity—for instance, aiming to move, decision making, and mental arithmetic—is accompanied by inhibition and excitation of distributed neuronal networks or structures. With adequate sensors, recording changes in magnetic fields, electrical potentials, and metabolic supply can be possible when the activated neuron population exceeds some critical mass.
Market Dynamics
Growing focus on integrating brain computer interface technology into numerous healthcare applications, continuous focus on emerging communication technology for geriatric and disabled populations, and rising interest in integrating BCI technology with several military applications are the significant factors that foster the global brain computer interface market growth.
Mounting focuses on employing brain computer interface to control smart home applications, the internet of things (IoT) devices, and many virtual reality applications hasten the growth of the global brain computer interface market. Moreover, technological advancements in nanotechnology, bio-signal processing, bio-sensing, neuro-imaging techniques, and growing research & development investments for integrating BCI technology with realistic applications are the factors anticipated to spur the global brain computer interface market growth. Nevertheless, the low information transfer rate of BCI, lack of awareness, and technological challenges related to integrating brain computer interface technology with other devices are the main factors recognized as the restraints expected to prevent the development of the global brain computer interface market.
Product Takeaway
The global business is classified into partially invasive, invasive, non-invasive and others (EEG Based B brain computer interface CI, MEG, and MRI) based on product. The Non-invasive segment accounted for the lion's share in the brain computer interface market in terms of both volume and value in 2019 and is projected to grow at a notable CAGR during the analysis period owing to the high applicability of BCI technology for products such as amplifiers, gaming sticks, and headsets. A non-invasive system is considered harmless as the approach is less intrusive, which is driving the segment's growth. Furthermore, several research projects are being conducted in this field. For instance, in 2019, the University of Minnesota collaborated with Carnegie Mellon University. It developed the world's first mind-controlled robotic arm using this innovative technology to track a computer cursor.
Application Takeaway
The worldwide industry is categorized into Restoration of disabilities, Repair of brain function, and others in terms of application. The Repair of the function segment is likely to dominate the brain computer interface market growth shortly. Most headaches, particularly cluster neuralgias that can be remarkably painful, include the trigeminal nerve beneath the forehead skin. A brain computer interface device with electrodes can arouse the trigeminal nerve and its parts or branches, employing a short electric current to redirect the motor nerve. Stimulation through a BCI-enabled device can generate a calming effect that can significantly decrease migraine attacks. The functional electrical stimulation is a novel way of reviving movement, such as perceiving, with the aid of a neuroprosthesis. An electroencephalogram-enabled BCI device can examine beta oscillations, and the output signal can stimulate the upper or lower extremity.
End-Use Takeaway
The global business is classified into medicine, military, manufacturing, and others based on end-use. The medicine segment accounted for a remarkable share in the market in terms of both volume and value in 2019 and is expected to grow at a striking growth rate by 2027. The substantial role of this technology in supporting disabled patients is driving the growth. The device also supports the movement of patients suffering from epilepsy, alzheimer’s disease, parkinsonism, and paralysis to carry out activities such as operating prosthetics and wheelchairs autonomously. The military segment is anticipated to witness profitable growth over the prediction period due to the device's augmented use during war activities.
Regional Takeaway
Regionally, the overall industry is divided into Europe, North America, Middle East & Africa, Asia Pacific, and Latin America. North America is expected to dominate the global industry owing to the highly developed healthcare sector in the US, combined with the constant investments done in the US to develop the medical technology sector through the years. Moreover, increasing frequencies of neurodegenerative disorders such as Alzheimer's, Parkinson's, and Huntington's conditions are likely to boost the region's growth. Growing demand for immersive gaming is foreseen to lead to the expansion of technologies BCI, which would further spur the acceptance of BCI technology in North America.
On the flip side, Asia Pacific accounts for the fastest-growing segment for the brain computer interface market, including substantial untapped opportunities, growing healthcare expenditure, and rising awareness amongst patients. Besides, favorable taxation policies and affordable manufacturing sites in the Asia Pacific have attracted foreign manufacturers to finance in this market.
COVID-19 Impact
The emergence of the COVID-19 pandemic brought the world together to a standstill. The vast health crisis due to the virus also brought an unusual impact on numerous businesses across every vertical. However, the market has seen constant growth. Similar to various companies, medical device manufacturers depend profoundly on healthcare amenities for their clinical trial data gathering. The devices must undergo clinical trials, both post and pre-market, before companies can gain certificates for market approval. As the pandemic remains to unfold, companies find it problematic to make informed decisions regarding their supply chains, products, and regulatory commitments in the middle of ambiguity.
Key Vendor Takeaway
The leading players include Medtronic Inc., Guger Technologies, Natus Medical, Interactive Productline, Mind Solutions, Compudemics, Integra Lifesciences Corporation, Emotiv Incorporation, and Neurosky, and Advanced Brain Monitoring, Inc. among others.
The principal players are actively adopting several strategies such as geographical expansion, acquisition, product development of new and efficient technologies, etc., to maintain their position in the market. For instance, the medical device company, Medtronic announced the acquisition of Mazor Robotics to improve its robotic surgery portfolio in September 2018.
The industry shows copious growth opportunities. Consequently, several startups providing advanced products and technologies have been entering the global industry. A few of them are PlatoScience, Neurosphere, NextMind, RxFunction, Beddr, and Halo Neuroscience.
The market size and forecast for each segment and sub-segments has been considered as below:
- Historical Year – 2016 to 2018
- Base Year – 2019
- Estimated Year – 2020
- Projected Year – 2021 to 2027
TARGET AUDIENCE
- Traders, Distributors, and Suppliers
- Manufacturers
- Government and Regional Agencies
- Research Organizations
- Consultants
- Distributors
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL BRAIN COMPUTER INTERFACE MARKET KEY PLAYERS
- Natus Medical Incorporated
- Guger Technologies Og
- Mind Solutions Corporation
- Medtronic
- Compumedics Ltd.
- Interactive Productline
- Integra Lifesciences Corporation
- Advanced Brain Monitoring, Inc.
- Emotiv Incorporation
GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY PRODUCT TYPES
- Invasive brain computer interface
- Partially Invasive brain computer interface
- Non-Invasive brain computer interface
- Others (EEG Based BCI and MEG and MRI)
GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY APPLICATION
- Restoration of disabilities
- Repair of brain function
- Others
GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY END-USE
- Medicine
- Military
- Manufacturing
- Others (Gaming and Communication)
GLOBAL BRAIN COMPUTER INTERFACE MARKET, BY REGION
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. BRAIN COMPUTER INTERFACE MARKET OVERVIEW
1.1. Study Scope
2. EXECUTIVE SUMMARY
2.1. Market Snippet
2.1.1. Market Snippet by Product
2.1.2. Market Snippet by End-use
2.1.3. Market Snippet by Application
2.1.4. Market Snippet by Region
2.2. Competitive Insights
3. BRAIN COMPUTER INTERFACE KEY MARKET TRENDS
3.1. Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Market Opportunities
3.4. Market Future Trends
4. BRAIN COMPUTER INTERFACE INDUSTRY STUDY
4.1. Porter’s Five Forces Analysis
4.2. Marketing Strategy Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. BRAIN COMPUTER INTERFACE MARKET: COVID-19 IMPACT ANALYSIS
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. BRAIN COMPUTER INTERFACE MARKET LANDSCAPE
6.1. Market Share Analysis, 2019
6.2. Key Innovators Analysis
6.3. Breakdown Data, by Key Manufacturer
6.3.1. Established Players’ Analysis
6.3.2. Emerging Players’ Analysis
7. BRAIN COMPUTER INTERFACE MARKET – BY PRODUCT
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2020 & 2027 (%)
7.2. Invasive brain computer interface
7.2.1. Overview
7.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
7.3. Partially Invasive brain computer interface
7.3.1. Overview
7.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
7.4. Non-Invasive brain computer interface
7.4.1. Overview
7.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
7.5. Others
7.5.1. Overview
7.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
8. BRAIN COMPUTER INTERFACE MARKET – BY END-USE
8.1. Overview
8.1.1. Segment Share Analysis, By End-use, 2020 & 2027 (%)
8.2. Medicine
8.2.1. Overview
8.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
8.3. Military
8.3.1. Overview
8.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
8.4. Manufacturing
8.4.1. Overview
8.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
8.5. Others
8.5.1. Overview
8.5.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
9. BRAIN COMPUTER INTERFACE MARKET – BY APPLICATION
9.1. Overview
9.1.1. Segment Share Analysis, By Application, 2020 & 2027 (%)
9.2. Restoration of disabilities
9.2.1. Overview
9.2.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
9.3. Repair of brain function
9.3.1. Overview
9.3.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
9.4. Others
9.4.1. Overview
9.4.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10. BRAIN COMPUTER INTERFACE MARKET– BY GEOGRAPHY
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2020 & 2027 (%)
10.2. North America
10.2.1. Overview
10.2.2. Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
10.2.4. North America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.2.5. North America Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.2.6. North America Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.2.7. U.S.
10.2.7.1. Overview
10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.2.7.3. U.S. Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.2.7.4. U.S. Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.2.7.5. U.S. Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.2.8. Canada
10.2.8.1. Overview
10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.2.8.3. Canada Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.2.8.4. Canada Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.2.8.5. Canada Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3. Europe
10.3.1. Overview
10.3.2. Key Manufacturers in North America
10.3.3. Europe Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
10.3.4. Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.5. Europe Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.6. Europe Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3.7. Germany
10.3.7.1. Overview
10.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.3.7.3. Germany Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.7.4. Germany Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.7.5. Germany Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3.8. Italy
10.3.8.1. Overview
10.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.3.8.3. Italy Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.8.4. Italy Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.8.5. Italy Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3.9. United Kingdom
10.3.9.1. Overview
10.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.3.9.3. United Kingdom Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.9.4. United Kingdom Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.9.5. United Kingdom Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3.10. France
10.3.10.1. Overview
10.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.3.10.3. France Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.10.4. France Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.10.5. France Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.3.11. Rest of Europe
10.3.11.1. Overview
10.3.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.3.11.3. Rest of the Europe Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.3.11.4. Rest of the Europe Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.3.11.5. Rest of the Europe Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4. Asia Pacific (APAC)
10.4.1. Overview
10.4.2. Key Manufacturers in Asia Pacific
10.4.3. Asia Pacific Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
10.4.4. Asia Pacific Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.5. Asia Pacific Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.6. Asia Pacific Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4.7. India
10.4.7.1. Overview
10.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.4.7.3. India Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.7.4. India Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.7.5. India Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4.8. China
10.4.8.1. Overview
10.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.4.8.3. China Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.8.4. China Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.8.5. China Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4.9. Japan
10.4.9.1. Overview
10.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.4.9.3. Japan Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.9.4. Japan Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.9.5. Japan Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4.10. South Korea
10.4.10.1. Overview
10.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.4.10.3. South Korea Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.10.4. South Korea Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.10.5. South Korea Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.4.11. Rest of APAC
10.4.11.1. Overview
10.4.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.4.11.3. Rest of APAC Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.4.11.4. Rest of APAC Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.4.11.5. Rest of APAC Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.5. Latin America
10.5.1. Overview
10.5.2. Key Manufacturers in Latin America
10.5.3. Latin America Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
10.5.4. Latin America Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.5.5. Latin America Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.5.6. Latin America Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.5.7. Brazil
10.5.7.1. Overview
10.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.5.7.3. Brazil Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.5.7.4. Brazil Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.5.7.5. Brazil Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.5.8. Mexico
10.5.8.1. Overview
10.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.5.8.3. Mexico Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.5.8.4. Mexico Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.5.8.5. Mexico Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.5.9. Argentina
10.5.9.1. Overview
10.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.5.9.3. Argentina Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.5.9.4. Argentina Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.5.9.5. Argentina Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
1.1.1. Rest of LATAM
10.5.9.6. Overview
10.5.9.7. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.5.9.8. Rest of LATAM Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.5.9.9. Rest of LATAM Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.5.9.10. Rest of LATAM Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.6. Middle East and Africa
10.6.1. Overview
10.6.2. Key Manufacturers in Middle East and Africa
10.6.3. Middle East and Africa Market Size and Forecast, By Country, 2016 - 2027 (US$ Million)
10.6.4. Middle East and Africa Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.6.5. Middle East and Africa Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.6.6. Middle East and Africa Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.6.7. Saudi Arabia
10.6.7.1. Overview
10.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.6.7.3. Saudi Arabia Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.6.7.4. Saudi Arabia Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.6.7.5. Saudi Arabia Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
10.6.8. United Arab Emirates
10.6.8.1. Overview
10.6.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2016 - 2027, (US$ Million)
10.6.8.3. United Arab Emirates Market Size and Forecast, By Product, 2016 - 2027 (US$ Million)
10.6.8.4. United Arab Emirates Market Size and Forecast, By End-use, 2016 - 2027 (US$ Million)
10.6.8.5. United Arab Emirates Market Size and Forecast, By Application, 2016 - 2027 (US$ Million)
11. KEY VENDOR ANALYSIS
11.1. Competitive Dashboard
11.2. Company Profiles
11.2.1. Natus Medical Incorporated
11.2.1.1. Company Snapshot
11.2.1.2. Financial Performance
11.2.1.3. Product Benchmarking
11.2.1.4. Strategic Initiatives
11.2.2. Guger Technologies
11.2.3. Mind Solutions Corporation
11.2.4. Medtronic
11.2.5. Compumedics Ltd.
11.2.6. Interactive Productline
11.2.7. Integra Lifesciences Corporation
11.2.8. Advanced Brain Monitoring, Inc.
11.2.9. Emotiv Incorporation
11.2.10. Neurosky
12. 360 DEGREE ANALYSTVIEW
13. APPENDIX
13.1. Research Methodology
13.2. References
13.3. Abbreviations
13.4. Disclaimer
13.5. Contact Us
