Market Trends of Neurofeedback Systems Industry
Attention Deficit Hyperactivity Disorder (ADHD) is Expected to be a Significant Market Contributor Over the Forecast Period
Attention Deficit Hyperactivity Disorder (ADHD) segment is one of childhood's most common neurodevelopmental disorders. It is usually first diagnosed in childhood and often lasts into adulthood. Patients who have ADHD, particularly children, may have trouble paying attention, controlling impulsive behaviors, or maybe being overly active. The major factors fueling the segment's growth are the increasing focus on the R&D of neurofeedback therapies and devices along with the growing burden of ADHD worldwide. For instance, according to the CDC update, in September 2021, 8.8% of people had been diagnosed with ADHD in the past few years. Moreover, as per the above source, 13.6 million visits to doctors' offices were made with attention deficit disorder as the primary diagnosis. Thus, such prevalence indicates that the demand for neurofeedback systems for the research and treatment of ADHD is likely to contribute to market growth.
Moreover, the increasing focus on R&D is leading to the development of effective neurofeedback systems, thereby supporting market growth. For instance, as per an October 2021 update by the National Institute for Health and Care (NIHR) Maudsley Biomedical Research Centre (BRC) 2022, the Medical Research Council funded USD 1.59 million for a larger trial of 100 children with ADHD to compare fMRI-neurofeedback to a placebo that is not related to their brain activity. The work also led to new collaborations locally and with the National Institute of Mental Health and Dresden University. The team secured funding (approximately USD 2.45 million from NIHR, Action Medical Research) to trial other brain-based therapies in ADHD, including different types of non-invasive brain stimulation treatments such as transcranial direct current stimulation and stimulation of the trigeminal nerve, which is responsible for sensations in the face.
Thus, the above-mentioned factors are likely to drive the segment growth during the forecast period.
North America Expected to Hold a Significant Share in the Market with Similar Trends over the Forecast Period
North America is expected to hold a significant growth of this market which is largely attributed to the rising prevalence of target diseases in this region. For instance, as per the Alzheimer's Disease Facts And Figures 2023 report, the population of Americans aged 65 years and older is projected to grow from 58 million in 2021 to 88 million by 2050. The above source also stated that in 2023 about 2.4 million people with Alzheimer's dementia are likely to be 85 years of age or older and are projected to account for 33% of all people with Alzheimer's dementia, and this number is projected to reach to 6.7 million people by 2060, accounting for about 48% of all people 65 years of age and older with Alzheimer's dementia. As the risk of dementia rises with age, it is anticipated that both the number and percentage of people with Alzheimer's or other dementias is likley to increase in the coming years. Thus, this high burden of Alzheimer's disease is projected to create demand for neurofeedback systems, thereby contributing to the market growth of the market in the region.
Moreover, frequent strategic initiatives are also expected to drive the market. For instance, in June 2022, New Beginnings Sexual Assault Support Services received the Kentucky Colonels Grant 2022, which led to the purchase of NeurOptimal Advanced Brain Training System machines for use in office locations. NeurOptimal neurofeedback training allows users to unconsciously self-regulate brain activity in real-time using electroencephalography (EEG) monitoring and feedback. Such an initiative is expected to drive market growth in the region.
Hence, all the above factors are likely to contribute to makret growth in North America Over the Forecast Period.
