Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 166 Million | USD 260 Million | 5% | 2022 |
The global biofeedback instrument market size was evaluated at $166 million in 2022 and is slated to hit $260 million by the end of 2030 with a CAGR of nearly 5% between 2023 and 2030.
A biofeedback instrument is a device measuring as well as offering feedback on the physiological functions of various internal parts of the human body such as heart rate, muscle tension, skin temperature, and blood pressure. It is designed to help people become aware of their body functions along with gaining control over their particular body parts which can be involuntary. Various kinds of biofeedback instruments are devised for measuring various kinds of physiological functions including electrodermal activity feedback, electromyography, heart rate variability feedback, electroencephalogram, and thermal feedback.
New product innovations to drive the growth of the global market over 2023-2030
Technological innovations in biofeedback equipment and a focus on stress & mental health management will steer the growth of the global biofeedback instrument market in the coming years. Moreover, biofeedback devices are cost-effective, portable, and user-friendly, thereby driving the global market trends. In addition to this, the surging use of the equipment in helping people effectively handle mental fatigue and stress is likely to boost the demand for biofeedback instruments in the coming years. Furthermore, this equipment offers real-time feedback to individuals on physiological responses, thereby helping them understand the issues related to anxiety and other disorders such as insomnia. The launch of new devices will bring a paradigm shift in the expansion of the market space in the next decade.
For instance, in August 2023, Cardinal Health, Inc., a U.S.-based healthcare service firm, introduced next-gen medical equipment referred to as NTrainer™ System 2.0 for improving neonatal feeding. Reportedly, it is a medical device devised for helping premature & newborn infants improve sucking skills other than oral feeding.
A surge in the price of the product can put brakes on the global industry surge over the forecast period
The rising cost of the product has reduced its acceptance in regions having low healthcare resources, thereby restricting the expansion of the global biofeedback instrument industry. A surge in the import duties of the raw materials used for manufacturing the product can put brakes on the expansion of the industry across the globe.
Product Innovations can create new growth for the global market over the coming seven years
The product can be utilized in integration with holistic healthcare approaches for improving the health and well-being of an individual. Apart from this, firms are launching a new product line, thereby contributing to a large share of the global market profitability.
Stringent regulations pertaining to licensing of equipment for clinics and healthcare service providers can retard product use in the healthcare sector
Strict laws related to equipment licensing and restricted use of biofeedback instruments in hospitals can prove to be a huge challenge for the global biofeedback instrument industry. Moreover, the dynamic pricing of the product can further impact their sales in the coming years.
The global biofeedback instrument market is sectored into type, application, and region.
In type terms, the Biofeedback Instrument market across the globe is segregated into thermal feedback, electromyography, electrodermal activity feedback, electroencephalogram, heart rate variability feedback, and other segments. Furthermore, the electromyography segment, which acquired nearly one-third of the global market proceeds in 2022, is anticipated to accrue the highest CAGR over the forecast timeline. The expansion of the segment during 2023-2030 can be owing to the large-scale use of electromyography in sports training, stress management, and rehabilitation activities. Apart from this, electromyography assists people in enhancing muscle control, reducing muscle tension, and improving its use in sports medicine and physical therapy.
Based on the application, the global biofeedback instrument industry is sectored into sweat glands, brain waves, muscle tension, heart rate & blood pressure, and other segments. Additionally, the brain waves segment, which acquired a key share of the global industry in 2022, is predicted to lead the segmental surge in the next seven years. The segmental expansion over 2023-2030 can be owing to the large-scale use of biofeedback instruments in measuring as well as offering feedback on the electrical activity of the brain. Furthermore, the instrument is extensively utilized in neural therapy and cognitive development activities.
Based on the end-use, the biofeedback instrument market across the globe is divided into clinics, rehabilitation centers, hospitals, and other segments. Moreover, the hospitals segment, which contributed a major share of the global market in 2022, is predicted to grow leaps & bounds in the forecast timeframe. The segmental surge over the period from 2023 to 2030 can be subject to favorable government schemes promoting holistic & integrative approaches to healthcare along with growing patient awareness and demand for non-pharmacological products facilitating biofeedback equipment use in a slew of medical applications.
Report Attributes | Report Details |
---|---|
Report Name | Biofeedback Instrument Market |
Market Size in 2022 | USD 166 Million |
Market Forecast in 2030 | USD 260 Million |
Growth Rate | CAGR of 5% |
Number of Pages | 222 |
Key Companies Covered | Thought Technology Limited, Neurocare Group AG, Mind Media USA Inc., Bio Feedback Resources International, Quantum World Vision, Laborie Oxsubspace, and others. |
Segments Covered | By Type, By Application, By End-Use, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2022 |
Historical Year | 2017 to 2021 |
Forecast Year | 2023 - 2030 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
North America is predicted to retain its leading position in the global biofeedback instrument market over the forecast timeline
North America, which contributed about half of the global biofeedback instrument market revenue in 2022, will be a key region in the coming seven years. Moreover, the regional market expansion over the forecast period can be attributed to the introduction of upgraded biofeedback equipment in the region of North America. Apart from this, the presence of strong healthcare systems in countries such as the U.S. along with a rise in healthcare spending along surging awareness about product benefits are likely to boost the regional market trends.
The Asia-Pacific biofeedback instrument industry is set to record the highest CAGR in the next couple of years. The growth of the industry in the Asia-Pacific zone can be ascribed to a surging population along with growing awareness about the benefits of the product used in nations such as India and China.
The global biofeedback instrument market profiles key players such as:
By Type
By Application
By End-Use
FrequentlyAsked Questions
A biofeedback instrument is a device measuring as well as offering feedback on the physiological functions of various internal parts of the human body such as heart rate, muscle tension, skin temperature, and blood pressure.
The biofeedback instrument market growth over forecast period can be owing to the surging use of the equipment in helping people effectively handle mental fatigue and stress is likely to boost the demand for biofeedback instruments in the coming years.
According to a study, the global biofeedback instrument industry size was $166 million in 2022 and is projected to reach $260 million by the end of 2030.
The global biofeedback instrument market is anticipated to record a CAGR of nearly 5% from 2023 to 2030.
The Asia-Pacific biofeedback instrument industry is set to register the fastest CAGR over the forecasting timeline owing to a surging population along with growing awareness about the benefits of the product use in nations such as India and China.
The global biofeedback instrument market is led by players such as Thought Technology Limited, Neurocare Group AG, Mind Media USA Inc., Bio Feedback Resources International, Quantum World Vision, and Laborie Oxsubspace.
The global biofeedback instrument market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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