- Brain Scientific poised to disrupt neurology market with two new FDA-cleared patented products that provide cost-effective brain imaging in any setting
- Current global market for EEG devices estimated at $956.1 million with CAGR of 8.7% from 2019 to 2026, expected to reach $1.6 billion by 2026
With a focus on developing innovative and proprietary medical devices and software, Brain Scientific (OTCQB: BRSF), a commercial-stage health care company, is fulfilling its mission of modernizing and increasing accessibility to brain diagnostics with two new FDA-cleared products that provide next-generation solutions to the neurology market.
Already patented in the United States, China and Europe, the company’s first commercialized devices — the NeuroCap(TM) and NeuroEEG(TM) — are designed to disrupt the current electroencephalogram (“EEG”) market by offering a cost-effective and disposable alternative to existing solutions.
The NeuroCap is a disposable pre-gelled EEG headset that features 22 electrodes and 19 active EEG channels that all adhere to the international 10-20 system. Cleared by the FDA in 2018, the headset can be used for recording EEGs in nearly any setting, including neurology clinics, remote clinical research labs, emergency departments, urgent care clinics, ICUs, nursing homes and assisted living facilities. Intended for prescription use, the NeuroEEG is a compact, portable and cost-effective FDA-cleared, clinical-grade wireless EEG amplifier that acquires, records, displays and transmits electrical brain activity for patients of all ages. Both the NeuroEEG and NeuroCap are delivered by MemoryMD Inc., the predecessor and now wholly owned subsidiary of Brain Scientific.
Brain Scientific’s development process spans three stages. The first development phase, from 2018 to 2019, resulted in the inception of the company’s portable, clinical-grade, easy-to-use neurological devices. The second, ongoing phase currently focuses on the creation of cloud-based, secure infrastructure to transmit patient data between patients and neurologists. The final and third phase — scheduled for 2021-2023 — aims to focus on the use of AI to facilitate diagnostic analysis and increase the consistency, efficiency, consistency and accuracy of imaging by neurology specialists.
Brain Scientific plans on expanding the vision for telemedicine in neurology with an aim to address the current acute neurologist shortfall throughout the U.S. The current global market for EEG devices is estimated at $956.1 million with an expected CAGR of 8.7% from 2019 to 2026 and is expected to reach $1.6 billion by 2026 (https://ibn.fm/Ys8Qi). With its current marketing strategy and development pipelines, BRSF’s management projects significant market penetration in addition to opportunities to collaborate with other businesses — such as EEG manufacturers — that could package Brain Scientific’s solutions with their products and effectively expand the company’s addressable target market.
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, Brain Scientific 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 on Brain Scientific Inc., 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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