by Market Overview:
Biofeedback measurement instruments are medical devices that help patients learn how to control certain bodily functions like brain waves, heart rate, breathing, muscle tension, and skin temperature. These instruments provide visual or auditory feedback to a person’s physical states which help them to regain control over these bodily responses and apply it for treating a variety of health conditions such as stress, anxiety, hypertension and other cardiovascular disorders.
Market key trends:
One of the major trends in the biofeedback measurement instrument market is increasing adoption of digital solutions. The integration of digital technologies and innovative new features in biofeedback measurement instruments are enhancing the user experience. Wireless connectivity, mobile apps, cloud-based reporting and touchscreen interfaces are some of the digital elements being incorporated by manufacturers to modernize these instruments and attract more users. This digital shift is expected to boost demand for technologically advanced biofeedback devices, especially among younger patient demographics in the coming years.
The biofeedback measurement instrument market has been witnessing increasing adoption of software-based systems and cloud-based services. Vendors are focusing on developing advanced digital platforms and mobile applications for remote biofeedback monitoring and therapy. These software-based systems provide flexibility and convenience to both patients and healthcare providers to access biofeedback treatment from anywhere. The growing preference for non-invasive treatment options is also driving the demand for self-administered home-use biofeedback devices.
The global Biofeedback Measurement Instrument Market Share is estimated to be valued at US$ 185.4 Mn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
SWOT Analysis
Strengths: Biofeedback devices offer non-invasive and drug-free treatment for various mental health conditions and help in pain management. They provide real-time monitoring of physiological activities.
Weaknesses: High cost of biofeedback systems limit their adoption. Lack of trained professionals for biofeedback therapy.
Opportunities: The increasing popularity of telehealth and telemedicine presents an opportunity for remote biofeedback monitoring. Growing prevalence of stress-related disorders and pain conditions worldwide.
Threats: Limited awareness about biofeedback treatment among patients. Reimbursement issues associated with biofeedback therapy in some countries.
Key Takeaways
The global Biofeedback Measurement Instrument market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period, due to increasing preference for non-pharmacological pain management therapies.
Regional analysis: North America dominated the global market in 2023 and is expected to maintain its leading position over the forecast period, owing to the growing adoption of pain management devices, availability of reimbursement, and new product launches. However, Asia Pacific is anticipated to exhibit the fastest growth rate during the forecast period, due to the rising geriatric population, increasing healthcare spending, and growing awareness.
Key players operating in the Biofeedback Measurement Instrument market are Thought Technology Ltd, ELMIKO, Mind Media, Laborie, Behavioral Medicine Associates, Inc, Neurocare Group Gmbh, Allengers Medical Systems, BrainMaster Technologies, Inc, Quantum World Vision, NCC Medical, Qxsubspace. Thought Technology Ltd and BrainMaster Technologies Inc hold a significant share of the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
