Brain monitoring refers to the process of studying and reporting brain functioning. Various EEG devices are widely used to detect epilepsy, sleep disorders, brain death, and encephalopathy. The global brain monitoring market is witnessing significant growth over recent years. Factors such as the rising cases of various brain-related conditions such as depression, neurological disorders, and others are driving the market growth, predominantly.
Market Research Future (MRFR) reflects on the global brain monitoring treatment market in their report and as per that is expected to garner exponential accruals by 2022. In its recent industry analysis, MRFR also asserts that during the forecast period of 2013 – 2022, the market would grow at a steady CAGR. The awareness about the various neurological conditions and availability of advanced devices for monitoring brain functions act as a significant driving force for the growth of the market.
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The increasing prevalence of traumatic brain injuries (TBI) and advancements in the therapeutics to manage the conditions act as a major tailwind for the growth of the market. Besides, rising cases of TBI arise in road accidents, violent assaults, blunt force trauma, and sports injuries propel the growth of the market. Also, the availability of a range of breakthrough diagnostics, drugs, and novel therapeutics to treat the brain damages influence the market growth, helping the patients with early detection and treatment to manage the conditions effectively.
Conversely, the prohibitive cost of brain monitoring devices and unmet clinical needs are some of the major factors acting as headwinds for the growth of the market. Nevertheless, the emergence of novel technologies would support the growth of the market, making the brain monitoring devices affordable. Also, the growing R&D activities in the field of diagnostic devices and discoveries of modern therapeutics are expected to boost the growth of the market.
Global Brain Monitoring Market – Segments
MRFR has segmented the report into five main dynamics to widen the scope of understanding,
By Type of Devices :Magnetoencephalography(MEG), Electroencephalograph (EEG), Intracranial Pressure Monitor, Cerebral Oximeters, and Transcranial Doppler.
By Procedures : Invasive and Non-Invasive.
By Modality : EEG Devices and Fixed EEG Devices.
By End-users : Diagnostics Center, Hospitals, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World
Brain Monitoring Market - Geographical Analysis
North America leads the global brain monitoring market. The market is predominantly driven by the availability and early adoption of advanced technology in the well-developed healthcare sector of this region. Besides, the rising prevalence of traumatic brain injury (TBI) alongside a large patient pool suffering from brain injuries contribute to the growth of the regional market.
The rising hospitalizations and mortality rates led by the TBI increase the growth of the regional market. The US accounts for the largest share in the brain monitoring market in North America. Owing to the high healthcare expenditures, The North American brain monitoring market is expected to retain its leading position, expanding at a significant pace.
Europe stands second in the global brain monitoring market. The presence of a flourishing medical devices market and notable players in the region acts as a major driving force behind the regional market growth. Moreover, factors such as the increasing geriatric population and growing incidences TBI across the region drive the growth of the market. Large advancements in medical technologies and digital medicines support the growth of the regional market.
According to the journal of neurosurgery, the overall rate of TBI incidences is highest in Europe, and about 95% population suffer from TBI occurred due to road accidents. This alongside, the rise in neurological disorders among the European population, propel the regional market growth.
The Asia Pacific brain monitoring market is emerging as a promising market. Rising cases of neurological disorders in the Southeast Asian and Western Pacific regions foster the growth of the market. Besides, rising head injuries due to the road collisions alongside the increasing rate of TBI in the region are promoting the growth of the APAC brain monitoring market. Moreover, large unmet needs and the availability of low-cost treatment procedures, are acting as key driving forces for the growth of the regional market.
Global Brain Monitoring Market - Competitive Analysis
Highly competitive, the brain monitoring treatment market appears fragmented, with various well-established players forming a competitive landscape. To gain a competitive advantage, these players incorporate strategic initiatives such as mergers & acquisitions, expansion, and product launch.
Players leading the global brain monitoring market, include Medtronic plc (Ireland), Philips Healthcare (Netherlands), Natus Medical Inc. (US), Siemens Healthineers (Germany), Nihon Kohden Corporation (Japan), GE Healthcare (UK), Electrical Geodesics Incorporated (US), Compumedics Ltd. (Australia), Advanced Brain Monitoring (US), and CAS Medical Systems, Inc. (US), among others.
December 16, 2019 ---- IRRAS (Sweden), a global healthcare company offering a comprehensive portfolio of innovative neurocritical care products, launched its Hummingbird® ICP Monitoring product range in the United States. Designed for accuracy, reliability, and ease of use, the Hummingbird ICP Monitoring product line, include proprietary single and multi-lumen cranial access bolts, parenchymal intracranial pressure (ICP) monitoring, and a cranial access kit. Acquired by IRRAS in May 2019, these products help clinicians diagnose and manage patients' intracranial pressure after traumatic brain injury, a subarachnoid hemorrhage, and a stroke.
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