Increasing Research and Development by Top Companies to Fuel the Global Neurotechnology Market

General Electric Company and Koninklijke Philips N.V., among others, are the major players in the global market for neurotechnology.

As per the analysis by Expert Market Research, the global neurotechnology market is expected to grow at a CAGR of 12% in the forecast period of 2022-2027, driven by rising health disorders.

A scientific field known as neurotechnology, based on the activity of the brain, encompasses technologies created to improve and restore the brain functionality. In order to study the activity of the brain, researchers and developers use neurotechnology. By updating neurotechnology, depression, restlessness, excessive activity, and many other illnesses may be resolved.

North America is expected to dominate the global market because of the increase in neurological cases in the region. With the increase in population of geriatric patients, the government is supporting the research and development, thus increasing the development of the neurotechnology industry.

Also, due to the modernisation and development of healthcare facilities, the Asia Pacific region may also boost the market growth in the forecast period. A steady growth is predicted in the regions of Middle East, Africa, and Latin America because of the lack of research infrastructure and technical skillsets. Due to the rise in number of various neurological disorders like Alzheimer’s disease, the neurotechnology market is expected to see a growth in the forecast period.

URGO Group, a French firm in January 2020, announced that it will release a product, named URGOnight sleep training system. The product aims to achieve a better sleep by training the brain and measuring and analysing EEG brain waves. Four dry electrodes make up the headband, two of which are placed behind each ear and two of which are intended to stay in contact with the top of the head. This makes it possible to capture sensorimotor (SMR) brainwaves, the level of which rises during the day and improves sleep at night.

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Top 2 Global Neurotechnology Companies:

General Electric Company

General Electric Company is a leader in bringing innovative solutions to the market that facilitate essential work in power, renewable energy, healthcare, and transportation sectors. Researchers in GE Healthcare Life Sciences are constantly looking for innovative approaches to help doctors treat patients better and manage their care by researching cutting-edge neurological diagnostic techniques. Some of the applications in the neurology advanced visualisation field are AngioViz, BRAIN View, Autobone and VesseIQ Xpress, Data Scan, Dynamic Shuttle, and many more.

Koninklijke Philips N.V.

Koninklijke Philips is a global technology company that develops innovations for the well-being and better health of people. The company provides clinical tools to make precise diagnosis and deliver personalised treatment. Philips’ healthcare portfolio includes cardiovascular care, monitoring, imaging, healthcare informatics, clinical applications, and more. Some of their healthcare products include Neurophedeoiles, Diagnostic Sleep Testing, Cardio/Vascular X-Ray Wires and Catheters (Verrata), Computed Tomography, Radiography, Radiation Oncology Systems Roots, and Ultrasound, among others.