Brain Monitoring Market – Emerging Trends to Boost the Global Industry Growth

Overview:

This study involved four major activities in estimating the size of Brain Monitoring Market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Recent Developments:

# In 2021, Innovative Medcare Technology PTY Ltd. signed a contract with Spiegelberg for distributing Spiegelberg’s product portfolio in Australia & New Zealand.

# In 2018, GE Healthcare launched its SIGNA Premier 3.0T magnetic resonance imaging (MRI) system in Canada.

# In March 2018, Nihon Kohden (Japan) launched aireeg WEE-1200, a wireless EEG system that provides real-time data during long-term epilepsy monitoring, intensive care, and routine EEG

# In 2018, Philips collaborated with Samsung Electronics to connect Samsung’s ARTIK Smart IoT Platform to Philips’ HealthSuite Digital Platform. This addressed the growing need for connected health platforms that can safely access, share, and analyze information, helping health systems and providers achieve their goal of delivering better care to consumers.

# In 2017, Natus acquired the global Camino ICP monitoring product line, including its San Diego manufacturing facility, from Integra. The sale also included the US rights to Integra’s fixed-pressure shunts, as well as US rights to Codman’s DURAFORM dural graft implants, standard EVD catheters, and CSF collection systems.

Download PDF Brochure@
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=909

Driver: Increasing incidence and prevalence of neurological disorders

The global incidence and prevalence of neurological disorders, such as dementia, epilepsy, Parkinson’s disease, Huntington’s disease, headache disorders, multiple sclerosis, neuro infections, stroke, and cerebral palsy, have increased significantly over the years. Brain disorders, which include a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity across the globe. This can primarily be attributed to the growing geriatric population (by 2050, more than 20% of the global population is expected to be aged over 65 years).

Restraint: Research High cost of complex brain monitoring procedures and devices

The high cost of brain monitoring surgeries and devices is a major factor restraining the global brain monitoring market, especially in developing countries with poor reimbursement policies. Brain monitoring devices are highly complex, and the procedures involving the use of these devices are generally expensive. For instance, the average cost of a standard EEG is ~USD 200–700; this procedure can cost as high as USD 3,000 for extended monitoring.

A dual-channel TCD costs approximately USD 3,000–3,200, and an ICP monitor costs approximately USD 340–500. Likewise, a single MEG system costs roughly USD 2.5–3 million. Due to the high price, healthcare facilities, even in countries that show wide adoption of high-tech medical equipment, find it difficult to procure MEG devices. Additionally, the maintenance cost and other associated indirect expenses increase the total cost of ownership of these devices, thereby limiting their adoption.

Opportunity: The increasing demand for non-invasive and minimally invasive devices

Invasive monitoring is a complex, painful, and risky process, as it involves direct intervention with sensitive brain tissue. Doctors and patients, therefore, show a high inclination toward the use of non-invasive or minimally invasive brain monitoring devices. Owing to their advantages, there has been a rapid increase in the demand for non-invasive ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter, CT scan/MRI, and fundoscopy, which are reliable alternatives to invasive techniques, thus compelling players in this market to develop and commercialize such products.

End Users:

By end user type, the hospital segment accounted for the largest share 57.8% of the brain monitoring market in 2020.

Based on end-users, the global brain monitoring devices market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users. The hospital segment held the largest share 57.8 % of the global brain monitoring market in 2020. Brain monitoring is a complex process, requiring expensive and advanced devices and equipment that are mainly found in hospitals. Hospitals also see a considerably larger inflow of patients as compared to small clinics and other end users. Additionally, brain monitoring devices pose a considerable burden in terms of maintenance expenses on healthcare facilities; hospitals, more than other end-users, can bear such costs. Hence, brain monitoring devices are mostly used in hospitals, which consequently account for the largest share of this market segment.

Request Sample Pages@
https://www.marketsandmarkets.com/requestsampleNew.asp?id=909

North America accounted for the largest share 38% of the global brain monitoring market in 2020.

The brain monitoring market, by region, is segmented into North America, Europe, APAC, and the RoW. North America accounted for the largest share of the brain monitoring market in 2020. This can be attributed to the growing incidence of neurological diseases, a growing number of clinical trials of brain monitoring products, and the availability of medical reimbursement in the US.

Share this post:

Related Posts

Comments are closed.