Naxon Explorer was launched in May 2020 in a Brain Computer Interface market value estimated to reach US$ 3,476.3 million by 2027, according to Acumen Research and Consulting.
Acumen Research and Consulting, a global provider of market research studies, reported the growth expectation at a compounded annual growth rate of 13.8% from 2020 to 2027 and reach a market value of over US$ 3,476.3 Mn by 2027.
Then, on February 18th, 2021, they reported that “in 2019, North America accounted highest market share in the brain computer interface market. Factors that contribute for the growth of regional market involves rising incidences of brain disorders and cerebrovascular diseases. Surge in diseases facilitates development of technologically advanced BCI systems in North America region. However, there exists a stiff competition among the market players present in this region focusing on development of innovative products at affordable prices that comply with the FDA regulations. Such factors contribute fullest for driving the overall BCI technologies market in this region”.
In regard to the Brain Computer Interface industry, Acumen includes Neurable and Nihon Kohden on its key companies, disclosing therefore Naxon Labs’ “launching of brain to computer interface solution. The technology offers saving time with automatic blink and artifact detection and display in real-time brain wave frequencies per channel or by average. The data captured can be downloaded for further analysis with tools like MATLAB, Brainstorm or EEG Lab. The device can be connected from a PC, a MAC or a tablet with Bluetooth”.
Acumen’s report also included the fact that the “rising focus on R&D activities for BCI technology assist to launch several ranges of innovative products. For records, in May 2018, COMPUMEDICS announced strategic partnership with China based health 100 for somfit sleep technology. Also, Integra Life Sciences Corporation announced approval for DuraGen Dural Regeneration Matrix in Japan province that directed the company expansion and presence in the worldwide market”. In fact, one of the key search attributes for Naxon Labs technology is sleep analysis. Even though the traditional expensive mechanisms still can be used - and are recommended -, a tool like Naxon Explorer could bring EEG technology to a wider population in an affordable way.
Indeed, this statement follows Advance Market Analytics’ article “Brain Computer Interface Technology Market Booming Segments; Investors Seeking Stunning Growth | NeuroPace, Emotiv, NeuroSky, Blackrock Microsystems”, where they announced Naxon’ new product: “the company launched Explorer: a cheap and useful tool and neurofeedback system for professionals in the fields of Engineering and Information Technology, Neuroscience, and Medicine. Using this technology, you can save time with automatic blink and artifact detection and display in real-time brain wave frequencies per channel or by average”.