Biofeedback Measurement Instrument Market Size, Share, Industry Growth, Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2030
The Global Biofeedback Measurement Instrument Market held USD 157.6 million in 2020 and is to grow with a CAGR of 6.0% from 2020-2030. Biofeedback is a self-regulation strategy that teaches people to willingly regulate those body functions that are enhanced unintentionally such as their emotional, physical and moral wellbeing (e.g. blood pressure, pulse rhythm, skin temperature, and muscle tension). More than 15 million individuals in America suffer from urinary incontinence and have recommended biofeedback devices for urinary incontinence care according to the Institute for Health Care and Development. In 2015, a Japanese study found that biofeedback therapy helps to reduce symptom severity and frequencies in people with severe migraine pains. Biofeedback equipment is also used in treatment of chronic pain, headache, high blood pressure (BP) and urinary incontinence.
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Market Dynamics and Factors:
The increasing number of neurological disorders is expected to boost the growth of the biofeedback measurement instrument market over the forecast period. According to the Global Burden of Disease report, 46 million individuals were diagnosed with bipolar disorder in 2017. Similarly, according to the Global Burden of Disease study, 20 million people were suffering from schizophrenia in 2017. Leading to a significant range of neurological diseases, North American is projected to retain a lead the biofeedback measurement instrument industry. In 2017, 9.3% of people and 11.9% of women suffered from mental health problems, according to the Worldwide Prevalence of Disease reports. The study also found that 2.7% of men and 4.1% of women suffered from depression. Moreover, in view of the growing number of mental disorders, Europe biofeedback measurement instrument market is expected to hold the second largest market share in the forecast period. In 2013, around 8.2 million cases of anxiety disorder were diagnosed in the UK according to the Mental Health Foundation.
Based on the type, the biofeedback measurement instrument market industry is segmented into brainwaves, heart rate, muscles, sweat glands, others. On the basis of distribution channel, the biofeedback measurement instrument market trends vary into hospitals, clinics, home settings and ambulatory surgical centers. Geographical breakdown and analysis of each of the aforementioned segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
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North America dominates the biofeedback measurement instrument market share with the large demand due to developed pharmaceutical sector in this region. The region is also a hub of advanced healthcare infrastructure and the growing expenditure of government on rapid development of make shift hospitals, development of novel disease controlling drugs is further fueling the growth of global biofeedback measurement instrument market. Asia Pacific is also growing at a fast pace and expected to dominate in the future. Due to the growth advanced system and technologies, biofeedback measurement instrument market size is estimated to rise in coming years.
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Global biofeedback measurement instrument market, is highly competitive, and is moderately fragmented. In terms of biofeedback measurement instrument market share, few of the major players currently dominate the market. Key players enhancing the global biofeedback measurement instrument market size include Mind Media, Quantum World Vision, Thought Technology Ltd, Vishee, BrainMaster Technologies Inc., Allengers Medical Systems, Qxsubspace, Laborie, NeuroCare and ELMIKO.