There has been an increase in the number of neurological disorder cases which is stimulating the brain monitoring devices market to flourish. Intracranial Pressure (ICP) monitor is a device which is placed inside the brain and is used for measuring brain pressure. It senses the pressure inside the skull and then sends those recorded pressures to the recorder to obtain a better analysis. ICP test is performed in cases where the patient is suffering from a severe head injury or in case of a brain or nervous disease. Monitoring intracranial pressure is very crucial because it can help prevent neurological damage and even death. Therefore, healthcare systems have made it mandatory to have a continuous intracranial pressure monitoring of patients. Due to such cases of trauma and neurological disorders and also due to the rising prevalence of brain disorders, in general, has resulted in the growth of ICP device market. Additionally, a rise in cases of meningitis, brain infection, aneurysm across the world will also increase ICP monitoring requirement thus boosting the ICP monitoring device market. All these factors will lead to a rise in market growth rate during the forecast period.
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Insights on Global Intracranial Pressure Monitoring Market:
• North America
• Asia Pacific
• Latin America
• Rest of the world
Developed economies like North America and Europe dominate the global ICP monitoring market. Out of the two, North America is a major shareholder due to superior healthcare facilities and reimbursement policies. Europe region comes next due to higher adaptability of monitoring devices by the end user market segment. Asia Pacific market is growing at a faster rate due to increasing awareness in patient population resulting in the increase of market penetration and this trend is expected to continue in the forecast period as well. Countries are assigning a very significant amount of budgets for the healthcare department due to positive changes in their overall economic condition resulting in robust market growth.
o External Ventricular Drainage (EVD)
o Tympanic Membrane Displacement
o Optic Nerve Sheath Diameter (ONSD)
o Doppler Ultrasonography
The invasive technique of External Ventricular Drainage (EVD) provides accurate ICP measurements and is considered as a standard method. Therefore, it dominates this market space due to its huge revenue generation and it is expected to dominate the market during the forecast period. Non-invasive techniques are further divided into tympanic membrane displacement, Optic Nerve Sheath Diameter (ONSD), Doppler ultrasonography, MRI/CT and papilledema (fundoscopy). The MRI/CT sub-segment dominated the non-invasive technique market segment in 2015. On the other hand, ONSD is expected to show a growth in the market during the forecast period due to the ease with which it can be used and non-invasiveness. In fact, ONSD is preferred over other non- invasive techniques for emergency medical situations.
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• Trauma brain injury
• Brain Aneurysm
• Intracranial tumours
Trauma brain injury dominated this market segment in 2015 due to its global presence over the years. It is therefore expected to witness some growth in the market during the forecast period. In recent years due to a stressful lifestyle, people are getting highly addicted to smoking cigarette and alcohol consumption for relieving stress which puts them under the risk of causing brain aneurysm and therefore it is expected to get higher traction in the global market during the forecast period.
By End User
• Diagnostic Laboratories
• Medical Research Institutes
Hospital segment is expected to dominate the ICP monitoring market during the forecast period due to superior infrastructural facilities and utilization of advanced technologies as compared to diagnostic labs and medical institutes. But this trend will be primarily observed in developed economies due to their high spending capacity.
• Integra LifeSciences Holdings Corp.
• Codman & Shurtleff, Inc.
• Orsan Medical Technologies
Integra’s CereLink ICP monitor accurate measurements to neurocritical teams. It also provides more protection due to the capability of MR conditionality and more durability as well. Its advanced data presentation that is superior than other ICP monitoring techniques will help them gain market traction during the forecast period.
FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global intracranial pressure monitoring market by region, by technique, by application, by the end user
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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