May 18, 2024

Biofeedback Measurement Instrument Market Primed to Exceed US$213.59 million by 2024 Owing to Growing Applications in Healthcare

Biofeedback measurement instruments are used to measure and record physiological activities like heart rate, muscle activity, skin conduction, brain waves etc., which help an individual to visualize real-time internal processes occurring in their body. These instruments play a vital role in various healthcare applications such as stress management, psychological disorders and bodily functions training. They provide advantages like non-invasiveness, ease of use and portability compared to other diagnostic tests. The growing prevalence of lifestyle diseases, mental health issues and demand for disease management therapies are driving the need for biofeedback measurement tools globally.

The Global Biofeedback Measurement Instrument Market is estimated to be valued at US$ 213.59 million in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the biofeedback measurement instrument market are HIPRA, VETERQUIMICA SA, Ictyogroup, Kyoto Biken Laboratories, Inc., Vaxxinova International BV, Barramundi Group, Merck & Co., Inc., Zoetis Inc., KBNP, INC., Aqua Vet S.A., and NISSEIKEN CO., LTD. Some of the major players like Zoetis Inc., HIPRA, Vaxxinova International B.V, etc are increasingly investing in R&D activities to develop advanced biofeedback devices with enhanced features.

The growing demand for mental healthcare services and increasing adoption of stress and anxiety management techniques are fueling the biofeedback measurement instruments market. According to WHO, depression is one of the leading causes of disability worldwide. Biofeedback helps in effective treatment of various psychological disorders like depression, stress, etc.

Technological advancements are allowing integration of various technologies like AI, cloud computing, apps in biofeedback devices. This is enhancing their utility, effectiveness and enabling remote monitoring. For example, Mind Media’s NeXus-32 MKII biofeedback system integrates advanced sensors, connectivity and software for telehealth and self-help applications.

Market Trends
-growing popularity of wearable biofeedback devices: Companies are developing wearable biofeedback devices like smart bands, patches and clothing integrated with sensors to enable easy self-monitoring of physiological parameters.
-integration of AI and cloud technology: vendors are leveraging technologies like AI, cloud computing and mobile apps to enable data analytics, remote monitoring and telehealth capabilities in biofeedback devices.

Market Opportunities
-emerging economies: Emerging nations are expected to present major opportunities owing to increasing healthcare infrastructure, rising disposable incomes and growing acceptance of stress and anxiety management therapies.
-potential of biofeedback in new applications: continuous R&D can help explore new potential applications of biofeedback technology in areas like sports performance enhancement, rehabilitation and military domains presenting new avenues.

Impact of COVID-19 on Biofeedback Measurement Instrument Market Growth

The outbreak of COVID-19 pandemic has negatively impacted the growth of the global Biofeedback Measurement Instrument Market Size . During the pandemic period, the imposition of nationwide lockdowns led to temporary closure of manufacturing facilities and disrupted the supply chain. This caused delays in production and shipments across the world. Additionally, limited movement of people and resources also hampered the installation and commissioning of new biofeedback measurement instruments at healthcare facilities during this period. These factors coupled with lack of steady workforce contributed to the decline in the market growth in 2020.

However, with gradual lifting of lockdowns and resumption of economic activities globally from 2021, the market is anticipated to witness steady recovery during the forecast period from 2024 to 2030. The growing awareness about importance of mental health and rising demand for stress and anxiety disorders management post pandemic is expected to boost the demand for biofeedback treatment. Furthermore, continuous technological advancements in biofeedback devices along with increasing focus on telehealth will create new opportunities for market players in the coming years. Key market participants also plan to expand their product portfolios and strengthen distribution network with focus on online channels to cater changing consumer preferences in the post COVID era.

Geographical Regions with Highest Market Concentration

In terms of value, North America holds the largest share of global biofeedback measurement instrument market currently. The region is anticipated to remain the most lucrative market during the forecast timeframe as well owing to high awareness levels, established healthcare infrastructure and growing adoption of technologically advanced devices. Within the region, United States accounts for majority of the regional market share.

Asia Pacific market is projected to emerge as the fastest growing regional market for biofeedback measurement instruments over the next seven years. Factors such as rising healthcare expenditure, increasing prevalence of psychological disorders and favorable government policies will support the strong growth in the Asia Pacific region going forward. China and India are expected to spearhead the market growth in Asia Pacific biofeedback measurement instrument industry.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it