Brain Computer Interface Market By Component (Hardware, Software), By Type (Non-Invasive (wearable) Brain-Computer Interface, Partial Invasive Brain-Computer Interface, Invasive Brain-Computer Interface, Others (EEG Based on BCI & MEG as well as MRI)), By Application (Healthcare, Disabilities Restoration, Brain Function Repair, Smart Home Control, Communication & Control, Entertainment & Gaming), By End-users (Manufacturing, Military, Medical, Others (Gaming and Communication)), By Geography, Size, Share, Global Report, Industry Forecast, 2021-2030

Industry Report and Statistics (Facts & Figures) - Number of Deploments & New Installations, Installation Cost & Demand by Deployment Mode & Application

The global brain computer interface market will witness a robust CAGR of 15.11%, valued at $1505.06 million in 2021, expected to appreciate and reach $5340.38 million by 2030, confirms Strategic Market Research. North America dominates the Market share, followed by Europe. A Brain-computer Interface is a communication and control system in which the thoughts of the human mind are translated into real-world interactions without using the common neural pathways and muscles. It allows humans to control machines directly without their physical limitations. The main aim of BCI is to restore or replace the various useful functions of people who are disabled by neuromuscular disorders like amyotrophic lateral sclerosis, stroke, cerebral palsy, or spinal cord injury. The World Health Organization (WHO) has announced that 700 million mental and neurological disorders (MNDs) cases are reported yearly, accounting for 13% of the global illness burden. 150 million people suffer from depression, 25 million have schizophrenia, 38 million have epilepsy, and 90 million suffer from a substance misuse disorder.

 

 

Procedure: BCIs work in three steps: They gather brain signals, interpret them, and then send commands to a linked machine based on their signals. Non-invasive (Wearables) BCI sensors are placed on the scalp, whereas Invasive BCI requires surgery to implant electrodes under the scalp for communicating brain signals.

 

Benefits:

• Converts previously passive devices into 'smart' and active ones. (for example, prosthetics)

 

• Enables communication using Sensorimotor rhythms (SMRs).

 

• Restoration of motor control in paralyzed patients.

 

• Environmental control. (e.g., controlling room temperature, light, power beds, TV, etc.)

 

• Telepresence in the military can detect any suspicious activity and help combat it.

 

• Video-Game based BCI increases user engagement & control in the game using brain signals.

 

• Prevent accidents by using a BCI-enabled Car.

 

• Train motor/cognitive abilities of old age people to prevent the aging effects.

 

• Neurorehabilitation using BCI systems serves as therapeutic tools to help people whose neuromuscular function has been impaired by trauma or disease to relearn useful motor functions.

 

• Types: Depending upon the device's location, different techniques measure brain signals.

 

• Non-invasive BCIs (wearables): The sensors are placed on the scalp (on the head) to measure the electrical potentials produced by the brain. These Flexible devices can capture only "weaker" human brain signals because of the obstruction of the skull.

 

• Partially invasive BCIs: The electrodes are attached to the brain's exposed surface (partially inside). Electrodes monitor electrical activity from the cerebral cortex in ECoG Electrocorticography.

 

• Invasive: Micro-electrodes are inserted directly into the cortex (within the brain) and are used to measure the activity of a single neuron. Intracranial EEG is regarded as the gold standard for localizing where exactly in the brain seizures start as it is more specific than a non-invasive EEG.

 

Various Non-invasive Procedures for Studying the Brain Includes

• EEG (Electroencephalography): is a technique for measuring electrical activity in the brain from the scalp surface. The electrical current created by the brain is picked up by electrodes placed on the scalp. EEG is the most commonly used because of the cost and hardware portability.

 

• MEG (Magnetoencephalography): MEG measures the magnetic field produced by brain currents and has a higher spatial resolution than EEG.

 

• PET (Positron Emission Tomography): It is a nuclear imaging technique used in medicine to study several processes in the body, including blood flow, metabolism, and neurotransmitters.

 

• fMRI (functional magnetic resonance imaging): In this, minute blood flow changes caused by brain activity are measured. It is a radiation-free technology that is simple to use and has an excellent spatial and temporal resolution.

 

• fNIRS (Functional near-infrared spectroscopy): NIRS (near-infrared spectroscopy) is used for functional neuroimaging. The hemodynamic responses associated with neuron behavior quantify brain activity using fNIRS.

 

• Cost: There is a wide range of products in BCI. Low-cost EEG costs below $350 for 24 electrodes. According to research published in NCBI, invasive BCIs have a high initial cost and the cost of ongoing technical assistance. Although non-invasive BCI devices have low upfront costs (e.g., $5,000-$10,000), they require continuing technical assistance.

 

Key Drivers - Key Factors that Promote the Growth of the Market are:

Technological Advancements, Research, and Development, Rising demand for biocompatible materials, Rising Neurological Disorders, A boom in gaming industries, and a trend of miniaturization of components.

• Technological Advancements: Innovations in computational and sensor technology. Computational sensors are responsible for translating the physical world into signals. It also modifies the data to remove unnecessary data and extract basic features. Before the data enters the processor, this is frequently done in parallel and in real-time. Visual, auditory, mechanical (tactile), chemical, magnetic, and other sensing applications are all covered by computational sensors.

 

• Research and Development: Persistent research undertaken to develop treatments for fatal conditions such as sleep disorders, cerebrovascular diseases, brain disorders, and injuries is another factor that is likely to propel and augment the market's growth.

 

• Rising demand for biocompatible materials: Brain-computer interface is linked to the high demand for biocompatible materials. Biocompatibility is important because a medical device (or component materials) should be harmless for patients. It should not be toxic or harmful and should also not cause an immunological response.

 

• Rising Neurological Disorders: Increasing prevalence of neuroprosthetic conditions and neurodegenerative disorders like Alzheimer's, epilepsy, and Parkinson's disease. Findings from the Parkinson's Foundation and the World Health Organization embarks that more than 10 million individuals have Parkinson's disease, 44 million have Alzheimer's disease, and roughly 55 million have dementia, with more than 60% living in low- and middle-income countries.

 

• A boom in gaming industries: Implementing BCI technologies in gaming is a crucial factor in accelerating the brain computer interface market report. According to a new Accenture analysis, the global gaming business has grown by 500 million new competitors in the previous three years, and its value currently exceeds €250 billion.

 

• The miniaturization of components: The trend is to manufacture even smaller mechanical, optical and electronic products and devices. Examples include the miniaturization of mobile phones, computers, and vehicle engine downsizing.

 

Restraints- Shortage of Skilled Labours and Ethical Issues

• Shortage of Skilled Labours: The paucity of skilled technicians to handle these complex devices is a factor hindering the growth of this market. In Gartner Inc.'s Report ( Emerging Technology Roadmap for Large Enterprises, 2020), 64% of IT executives see skill shortages as the most significant impediment to emerging technology adoption, up from only 4% in 2020.

 

• Ethical Issues: The rise in the ethical issues arising from the implementation of BCI technologies includes personhood, stigma, autonomy, privacy, research ethics, safety, responsibility, and justice.

 

Market Opportunities

• Virtual Reality: Virtual Gaming provides immense opportunities for mind-controlled gadgets and headsets. BCI-enabled video games are opening new opportunities. With the advancement of machine learning, artificial intelligence tools and the increasing capacity of computer processors, these businesses' neurotechnologies may not be far off. The continuous augmentation in the number of mobile gamers has also positively impacted the demand for AR games, VR games, and cloud gaming. Virtual Reality will reach 25% (70.2 million) of internet users in the United States by 2023, according to ARtillery Intelligence and Tech Republic (2020), and 91% of businesses are either using or planning to use VR or AR technology.

 

• Smart Home Control- BCI devices are apt for controlling smart home applications because of their high stability and accuracy. P300-based technology is used in home management systems to help with operations, including closing and opening doors, turning the lights off and on, managing TV and audio systems, and operating security video cameras.

 

• Financial Support- Government bodies and research institutes, along with various clinical trials, have offered their help through investments, grants, and funds, which have boosted and augmented the research activities to increase the usage of the brain-computer interface. Policymakers are key in supporting new therapies by incentivizing brain research and medicine development. For the Next-Generation Nonsurgical Neuro-technology (N3) initiative, the US Defense Advanced Research Projects Agency (DARPA) has awarded Funds by funding it to 6 organizations (like $9.8 million to Rice University researchers). The brain-computer interface investment initiative aims to create non-invasive or minimally invasive neural interfaces connecting war fighters' brains to computers, allowing for quick, effective, and intuitive interaction with military equipment.

 

• Rising Old Age Population: Old age people are more prone to sleep disorders and neurological diseases, which will drive the industry's growth. The population aged 65 and above will quadruple in 30 years, according to World Population Aging 2019. Simultaneously, the number of people aged 80 and above will grow and triple that of the present.

 

 

Market Analysis Of Different Segments Covered in the Report

Based on Component

• Hardware

• Software

 

Based on Type

• Non-Invasive (wearable) Brain-Computer Interface

• Partial Invasive Brain-Computer Interface

• Invasive Brain-Computer Interface

• Others (EEG Based on BCI & MEG as well as MRI)

 

Based on Application

• Healthcare

• Disabilities Restoration

• Brain Function Repair

• Smart Home Control

• Communication & Control

• Entertainment & Gaming

 

Based on End-users

• Manufacturing

• Military

• Medical

• Others (Gaming and Communication)

 

Regional Coverage Analysis
North America

• United States of America

• Canada

• Mexico

• Rest of North America

 

Europe

• United Kingdom

• France

• Germany

• Rest of Europe

 

Asia-Pacific

• China

• Japan

• India

• South Korea

• Rest of Asia-Pacific

 

South America

• Brazil

• Rest of South America

 

The Middle East and Africa

• United Arab Emirates

• South Africa

• Saudi Arabia

• Rest of the Middle East and Africa

 

Components Analysis & Insights

The Hardware sector dominates the market due to the digital industry's increased usage of BCI-related gear and sensors. Most healthcare organizations have begun to embrace this technology to align and integrate all healthcare procedures, such as increasing medical staff productivity and patient inspection and operation. This factor will propel the market forward. However, the software category is predicted to grow the most in the next years, thanks to an increase in the end-user use of BCI software, ensuring that BCI software and platforms perform properly.

 

Type Analysis & Insights 

The Non-invasive category dominated the brain computer interface market share due to the rise in acceptance of non-invasive brain-computer interface systems, which are used to control robotic arms that are advantageous for paralyzed persons in the healthcare business directly related to the segment's growth. However, because of its direct implantation in the brain and the greatest quality signals, the invasive segment is predicted to increase the most in the coming years. Paralyzed people can utilize these devices to help them function. Invasive BCIs are also used to restore eyesight by linking the brain to external cameras and limb function by using brain-controlled robotic legs and arms.

 

Application Analysis & Insights

The Healthcare segment dominates the market because of its wide application in treating sleep disorders, neurological diseases, paralyzed patients, and neuroscience research. Furthermore, various technological advancements and increased activities by important market participants boost the segment's growth. Due to its applicability in assisting impaired patients, the medical end-use category accounted for the largest share in terms of end users. Patients with disorders including epilepsy, paralysis, Parkinsonism, and Alzheimer's can use BCI technology to help them move around & do activities independently, such as using and operating wheelchairs, prostheses, and other devices. According to the Hollywood Reporter, in March 2020, the United States saw a 45% increase in video game usage, with spending reaching USD 1.6 billion across hardware, software, and accessories.

 

Region Analysis & Insights

North America is projected to lead the market due to substantial R&D investments & many clinical trials on brain devices undertaken in this area. Furthermore, the continuous increase in the prevalence of neurological diseases like Parkinson's, Alzheimer's, and Huntington's disease is likely to drive market growth. Further, the growing demand for immersive gaming is projected to spur the Development of technologies such as augmented brain-computer interfaces, which will help accelerate BCI adoption in this region. Over the projected period, the Asia Pacific market is expected to grow fastest. In this region, the market for BCIs is likely to be fueled by significant untapped prospects, increased patient awareness, and rising healthcare expenditure. Foreign investors have been drawn to this profitable market by low-cost production sites and favorable taxation policies in these countries. Many unique goods have been launched as a result of extensive R&D.

 

Brain Computer Interface Market Report Coverage

Report Attribute	Details
Forecast Period	2021 - 2030
The market size value in 2021	USD 1505.06 Million
The revenue forecast in 2030	USD  5340.38 Million
Growth rate	CAGR of 15.11%
The base year for estimation	2021
Historical data	2017 – 2020
Unit	USD Million, CAGR (2021 - 2030)
Segmentation	By Component, By Type, By Application, By End-user, and By Region.
By Component	Hardware and Software
By Type	Invasive brain-computer interface, Partially Invasive brain-computer interface, Non-Invasive (wearable) brain-computer interface and Others
By Application	Healthcare, Disabilities Restoration, Brain Function Repair, Smart Home Control, Communication & Control and Entertainment & Gaming
By End-user	Medicine, Military, Manufacturing, and Others
By Region	North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
Country Scope	US, Mexico, Canada, Germany, UK, France, China, Japan, India, etc.

 

Global Brain Computer Interface Market Competitive Landscape Analysis

The report depicts the competitive landscape analysis, which elucidates the most promising players operating in a market . The comparison is based on value chain optimization, initiatives, company overview, R&D investment, investments made by key venture capitalists, production analysis, overall revenue generation, share financials, global presence, production capacity, production sites and facilities, market potential, and other variables in the day-to-day business.

• Advanced Brain Monitoring, Inc.

• Cadwell Industries, Inc.

• Cortech Solutions, Inc.

• Emotiv

• G.Tec Medical Engineering Gmbh

• Integra Lifesciences

• Natus Medical Incorporated

• Neurosky

• Nihon Kohden Corporation

• Openbci

 

 

Recent Development:

• June 2022 With the assistance of remote-controlled robotic arms with the brain, an individual fed himself for the first time in the last 30 years. Researchers of John Hopkins University designed BCI to conduct a multi-step action that non-disabled individuals like us perform daily.

 

• As per the news, on June 2022, Pittsburgh’s Rehab Neural Engineering Labs and Blackrock Neurotech are working closely on the first ever portable Brain-Computer Interface, allowing the patients to participate in the research trials from the comfort of their homes. Blackrock will successfully submit MoveAgain, its first commercial Brain Computer Interface device, to FDA this year, whereas it plans to launch it early next year.

 

• In May 2022, the first patient in the US clinical trial, COMMAND, for patients having severe paralysis, was enrolled at the Mount Sinai Hospital in New York, according to Synchron, an endovascular brain-computer interface business. The FDA has granted the first investigational device exemption (IDE) to a company evaluating a permanently implanted BCI. Previous FDA-approved BCI human clinical trials took place in short-term test environments. The NIH-funded early feasibility study (EFS) will primarily test the safety and investigate quantitative efficacy measures of Synchron's StentrodeTM in patients with severe paralysis to allow the patients to control the digital devices without using their hands.

 

• On March 2022, NexStem, a Robotics startup based in California, announced its BCI headset's launch in the US, APAC, and Europe. The headset can be readily controlled by the thoughts of the user. The launch comes after receiving funding from companies like InfoEdge based in India and BITS Spark. This NexStem headset which is absolutely Non-invasive, possesses 15 pins of dry EEG Electrodes and 16 channel EEG sensors that will first capture and then deliver EEG Signals which are absolutely accurate.

 

• In January 2022, Shanda Group and Sequoia Capital contributed $15.2 million in pre-Series A funding to NeuroXess, a Chinese BCI firm. The company's BCI device could enable surgeons to locate target areas in the brain more precisely during surgery and allow paralyzed patients to perform everyday functions like feeding and walking with robotic arms or exoskeletons. NeuroXess has developed a minimally invasive implant that detects brain activity by placing a flexible electrode as thin as a hair under an animal's skull skin. Using surgical robots, the company tested the technology on mice, rabbits, and monkeys. The company's BCI may collect impulses from cranial nerves that provide movement and sensory capabilities to the head and neck within 30 minutes of surgery and keep track of them.

 

• In September 2021, The award-winning brain-computer interface of NextMind, a fast-growing neurotechnology startup, is providing real-time control in a prototype car shown at IAA Mobility this week in Munich. It's the first time a brain-sensing wearable has been integrated into a car, and it's powered by NextMind's proprietary technology, which allows users to drive the vehicle merely by thinking about it. NextMind's revolutionary technology opens up new possibilities for user interaction and engagement by swiftly converting brain signals from the user's visual cortex into computer commands.

 

• In April 2021, Psyber Inc. purchased a controlling investment in Atai Life Sciences AG, a biotechnology firm that develops psychedelic and non-psychedelic chemicals for various mental health reasons (DTx). With the help and assistance of a Brain-Computer Interface, Atai Life Sciences will be able to develop digital remedies for mental diseases. EEG-based BCIs analyze electrical activity in the brain to determine emotional, behavioral, and mental states. BCI has long been utilized to replace or restore important functions in people suffering from neuromuscular diseases. According to a recent study, EEG-based BCIs can be utilized to cure mental diseases because they allow for direct decoding of emotional experience from cerebral activity.

 

Various Products that Key Market Leaders Develop

Product	Function	Key players
Stat X-Series mobile EEG	Wireless, easy-to-use, comfortable EEG Headsets for healthcare professionals.	Advanced Brain Monitoring.
BioNomadix EOG	Measure two channels of Electrooculogram (EOG) data.	BioPac SYstems
AspireSR	Neurostimulator for Vagus Nerve Stimulation (VNS) Therapy system.	Cyberonics
OTBioLab+	EMG Software	OT Bioelettronica