As per the new research report by RNCOS, “Brain Signal Analysis Software Market Outlook to 2017”, scientists are actively exploring various means through which EEG can be utilized for early diagnosis and prognosis of Alzheimer’s. Most neuro-biomarkers (such as those derived from MRI, FDG PET, amyloid PET, and cerebral spinal fluid analysis) are measures of brain structure, metabolism, or biochemistry. While these measures are important in certain neurological disorders, they are relatively useless as measures of cognitive function. QEEG and ERP are direct physiological measures of the information processing functions in the brain and are therefore very useful cognitive biomarkers. Bringing these biomarkers from research lab into mainstream clinical diagnosis has the potential to open up a sector with immense possibilities for players in the brain analysis software business.
Also, our research indicates that the successful development of pharmaceuticals to treat cognitive disorders relies upon sensitive, reliable, reproducible measures of the cognitive effects of treatment. These measurements must be able to be captured in large-scale clinical trials in a cost-effective manner. These complex, real-world requirements represent a unique opportunity for players that can supply the pharmaceutical industry with appropriate software for clinically evaluating patients during a drug trial.
According to our study, 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. 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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