- Brain Scientific focused on leveraging AI and ML to detect neurological diseases, aims to create comprehensive database of brain biomarkers to increase diagnosis accuracy
- Brain Scientific positioned to disrupt EEG market with FDA-cleared patented products that provide cost-effective brain imaging in any setting
- Current global EEG device market estimated at $956.1 million with CAGR of 8.7% from 2019 to 2026, expected to reach $1.6 billion by 2026
With more industries embracing artificial intelligence (“AI”) and machine learning (“ML”) than ever before, Brain Scientific (OTCQB: BRSF), a commercial-stage healthcare company, is ahead of the curve in the neurology market with its development of cost-effective next-generation medical devices and software that aim to leverage AI and ML to improve brain diagnostics in the rapidly growing electroencephalogram (“EEG”) market.
AI generally refers to human-like intelligence capabilities demonstrated by computers, and ML is a subset of AI that refers to algorithms that “learn” through the use of data. Together, they are being used in healthcare to analyze data sets and make treatment predictions that aim to produce better health outcomes. With a similar goal, BRSF aims to leverage AI and ML to improve diagnostic capability with a database of brain biomarkers that collect data on both normal and abnormal brain information.
Brain Scientific’s use of AI and ML is part of its overall market penetration strategy that includes the development of its patented FDA-cleared NeuroCap(TM) and NeuroEEG(TM) devices. With 22 electrodes and 19 active EEG channels, the NeuroCap — a disposable pre-gelled EEG headset — can be used to record EEGs in nearly any setting. The NeuroCap is complimented by the NeuroEEG — a portable clinical-grade wireless EEG amplifier that acquires, records, displays and transmits electrical brain activity. Cost-effective, portable, and easily accessible, both devices together are positioned to profoundly shift the market by offering practitioners an affordable way to diagnose brain-related disorders in a range of locations, including remote clinical research labs, neurology clinics, urgent care clinics, emergency departments, ICUs, assisted living facilities, and nursing homes.
According to Grandview Research, the current global EEG device market was estimated at $956.1 million in 2020 and is expected to reach $1.6 billion revenue by 2026 with an anticipated CAGR of 8.7% between 2019-2026 (https://ibn.fm/AYsYg). Along with roughly 150 million people diagnosed with epilepsy, dementia and Alzheimer’s disease globally, BRSF is strongly positioned to capture a significant market share of the demand for low-cost imaging devices across the world.
Headquartered in New York, Brain Scientific and its wholly owned subsidiary MemoryMD Inc. were founded in 2015 and went public in 2018. With a focus on developing innovative medical devices and software that disrupt the brain diagnostics market, BRSF is poised to take center stage with solutions that enable medical professionals to cost-effectively diagnose patients with consistency, efficiency and accuracy in virtually any setting.
For more information, visit the company’s website at www.BrainScientific.com/Invest-Now.
NOTE TO INVESTORS: The latest news and updates relating to BRSF are available in the company’s newsroom at https://ibn.fm/BRSF
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