April 24, 2024

Biofeedback Measurement Instrument Market Driven by Growing Demand for Continuous Monitoring of Physiological Parameters

Biofeedback measurement instruments provide a non-invasive method to help patients gain self-regulation over physiological processes like heart rate, body temperature and brain electrical activity. These instruments have sensors that monitor processes like muscle tension, brainwaves, heart function, breathing rate and skin temperature which then converts biological data into visual or auditory feedback. This helps patients recognize how their thoughts, feelings and body sensations influence their health and allows them to develop self-regulation over usually unconscious processes.

The Global Biofeedback Measurement Instrument Market is estimated to be valued at US$ 213.59 Mn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period from 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. Growing demand for continuous physiological monitoring in applications such as stress management, musculoskeletal pain treatment and increasing investments in biofeedback training are fueling market growth. Major players are expanding their global footprint with new product launches and partnerships with hospitals and rehabilitation centers in emerging markets.

Market drivers

One of the major drivers for this market is increasing prevalence of lifestyle diseases leading to chronic pain conditions worldwide. According to WHO, cardiovascular diseases account for most global deaths annually. Biofeedback training helps in managing stress and alleviating chronic pain conditions. It is a non-pharmacological treatment option driving increased adoption.

The current geopolitical situation is significantly impacting the growth of the biofeedback measurement instrument market. Rising geo-political tensions between major countries like the US, China and Russia has disrupted global supply chains over the past year. Strict lockdowns in China due to its zero-COVID policy led to production halts and delays in supplies of key components used in biofeedback devices. This had a negative impact on the biofeedback measurement instrument market growth in 2022.

However, with restrictions now easing in China and several countries working towards establishing alternative supply networks, the market is expected to gradually recover over the next 2 years. Still, ongoing tensions and the risk of further lockdowns or trade restrictions remain a concern. Moving ahead, companies in this market need to diversify their supply sources globally and also look at developing localized manufacturing capacities to insulate themselves better from geo-political issues. Having a flexible production strategy will be important for sustained market growth.

In terms of geography, North America is currently the most concentrated region for the Biofeedback Measurement Instrument Market Size in terms of value. This is due to advanced healthcare infrastructure and high per capita healthcare spending in countries like the US. Growing acceptance of complementary & alternative medicines is also driving demand. However, Asia Pacific is projected to emerge as the fastest growing regional market between 2024-2030 with a CAGR of over 8%. Rapid economic development, growing middle class and their increasing healthcare needs are factors propelling the biofeedback measurement instrument market growth in Asia Pacific region over the forecast period. Countries like India, China, Japan and South Korea will be major revenue generators.

The current geopolitical situation with rising global tensions is significantly impacting the growth of the biofeedback measurement instrument market. Strict lockdowns in China disrupted supplies while ongoing conflicts pose risks. However, strategies like supply diversification and localized manufacturing can help companies insulate from such impacts. Among regions, North America currently dominates the market in terms of value while Asia Pacific is projected to be the fastest growing market between 2024-2030 backed by its economic and healthcare growth.

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