Promising results from Alzheimer’s and BCI research raise hope of their transition into mainstream clinical foray, boosting prospects for growth, says RNCOS.
Noida, UP -- (SBWIRE) -- 02/03/2014 -- As per the new research report by RNCOS, “Brain Signal Analysis Software Market Outlook to 2017”, brain signal analysis software represents a niche product category that caters to a very specific segment of the global medical device industry. Our study reveals that the market for brain signal analysis software stood at around US$ 30 Million in 2012 and is expected to grow at a double-digit growth rate; higher than the traditional medical device market.
Our research reveals that players in the market are mostly small with limited geographic presence. This presents an opportunity for new market entrants who can identify the regions with high market potential and low competition to launch their product. Besides, our study indicates that the market is not price sensitive and it is the range and flexibility of available analyses along with the speed of data processing that a software user looks at before purchasing the software. It is a market which focuses more on product quality rather than the price. Such a market is always open for new market entrants that can offer innovative products with unique differentiating product features.
The main factor propelling the growth of the market will be increase in its demand for epilepsy diagnosis and monitoring. Besides, rapidly expanding sleep labs in the world will also drive this growth. Also, this growth can really offshoot beyond expected limits if researchers successfully recognize EEG based biomarkers for early detection of Alzheimer’s disease. This will bring EEG into the mainstay of clinical diagnosis of Alzheimer’s disease, a field which has immense potential. Moreover, researchers are also reporting promising results from BCI research. If BCI picks up, as is expected from it, growth is expected to shoot up with it.
The research contains exhaustive information regarding the market dynamics, its current status and future outlook, opportunity assessment by application and analysis of key market players that will help clients in formulating apt market strategies and assess opportunity areas in the global brain signal analysis software market.
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.