High prevalence of incidences of traumatic brain injury, increasing awareness about minimally invasive techniques, escalation in the technological advancements in the field of Intracranial Pressure Monitoring are key factors contributing to high CAGR in the forecast period.
Market Size – USD 1.19 Billion in 2018, Market Growth – CAGR of 6.5%, Market Trends– Advancements in Intracranial Pressure Monitoring platform and improved regulations for diagnostics.
According to the current analysis of Reports and Data, the global Intracranial Pressure Monitoring market was valued at USD 1.19 billion in 2018 and is expected to reach USD 1.97 billion by the year 2026, at a CAGR of 6.5%. Intracranial pressure monitoring (ICP) involves measuring the pressure in the skull by placing a small probe inside the skull, which is attached to the other end to a bedside monitor. The device senses the pressure inside the skull and sends the measurements to a recording device and hence can be compared with the normal range of the pressure inside the skull. The monitoring of intracranial pressure is used in treating various severe traumatic brain injuries, neurodegenerative diseases, and others.
The key aspects acting as the growth factors include the rising prevalence of neurological disorders and traumatic accidents, which are anticipated to propel the market of intracranial pressure monitoring devices in the forecast period. For instance, according to the World Health Organization 2018, it is estimated that about sixty-nine million individuals worldwide are expected to sustain a Traumatic Brain Injury each year. Furthermore, escalating cases of brain infection, aneurysm, and meningitis would result in an amplified requirement for ICP monitoring. An increase in the spending capacity of the individuals for the health care system is affecting boosting the market growth in the forecast period. For instance, according to the database of the World Health Organization, 2019 the two years into the Sustainable Development Goals era, global spending on health continues to rise which was US$ 7.8 trillion in 2017, suggesting about 10% of GDP and $1,080 per capita which has increased up from US$ 7.6 trillion in 2016. Moreover, the stringent regulation and the growing product recalls are anticipated to hamper the growth of the market in the coming years.
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The companies operating in the market and profiled in the report include
Medtronic Plc. (Ireland), RAUMEDIC Inc. (Germany), Integra LifeSciences Corporation (US), DePuy Synthes (US), Codman and Shurtleff , Inc., Vittamed, Spiegelberg GmbH & Co. KG (Germany), Sophysa SA (France), Orsan Medical Technologies, Boston Neurosciences (US), Terumo Corporation (US), and Natus Medical Incorporated (US).
The report offers complete portfolios of the key companies operating in the market including production capacity, revenue share and size, gross margin, sales revenue and margin, business expansion plans, technological advancements, product portfolio, global market position, and financial standing. The report also discusses in detail the recent mergers and acquisitions, joint ventures, product launches and brand promotions, partnerships, collaborations, agreements, and corporate and government deals.
The report further discusses in detail the market segmentation
Intracranial Pressure Monitoring Market segmentation by type:
Techniques Outlook (Revenue in Million USD; 2016–2026)
- External Ventricular Drainage
- Microtransducer ICP Monitoring Devices
- Fibre Optic Devices
- Transcranial Doppler Ultrasonography
- Tymphanic Membrane Displacements
Intracranial Pressure Monitoring Market segmentation by application:
Applications Outlook (Revenue in Million USD; 2016–2026)
- Intracerebral Hemorrhage
- Traumatic Brain Surgery
- Subarachnoid Hemorrhage
- CNS Infections
- Cerebral Edema
End-Use Outlook (Revenue in Million USD; 2016–2026)
- Trauma Centers
- Ambulatory Surgical Centers
- Specialty Centers
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The report focuses on evaluation of the Intracranial Pressure Monitoring market in major regions and the countries included in those regions. The report evaluates the key aspects of the global market such as production and consumption patterns, supply and demand ratio, import and export, economic growth, technological developments, and robust presence of key players in the region. The report also offers a country wise analysis to offer better information about the Intracranial Pressure Monitoring market scope in key regions and crucial factors influencing market growth in major countries. Regional analysis covers the following:
- North America
- Rest of EU
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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Key Advantages of the Intracranial Pressure Monitoring Market Report:
- Detailed analysis of changing dynamics of the global Intracranial Pressure Monitoring market
- Valuable insights on key market growth driving trends and monetary competence over the forecast period
- SWOT analysis and Porter’s Five Forces analysis for each key market player to offer competitive advantage to readers and investors
- Comprehensive assessment of competitive landscape and regional analysis
- Assessment of key factors driving and restraining market growth
- Analysis of threats, limitations, growth prospects, opportunities, and barriers in the market
- Strategic recommendations to key market players and new entrants to assist them in gaining a robust footing in the market
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