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Intracranial Pressure (ICP) Monitoring Market Overview | major Drivers, Industry Dynamics, Recent Trends and Forecast to 2024
Intracranial Pressure Monitoring Market
The Global Intracranial Pressure (Icp) Monitoring Market can experience a robust 7.11% CAGR during the forecast period (2018-2024), claims Market Research Future (MRFR) in a well-analyzed report. It further includes factors such as rising geriatric population, growing pediatric population, and an increasing number of cases getting registered with traumatic brain injury. At the same time, innovation getting implemented, technological advancement, and superior devices are giving the intracranial pressure monitoring market much-needed thrust. Furthermore, in many cases, governments have made it mandatory to install intracranial pressure monitoring devices which are boosting the intracranial pressure monitoring market further.
Saving golden moments during detection can become a decisive factor often in case of ailing patients. Intracranial pressure monitoring is one such step that can assist in detection and prevention of secondary cerebral fluid to arrest further neurological damage. Widely used in neurological, neurosurgical, and other conditions, this monitoring process has proven itself effective in improving patient’s condition.
On the flip side, the high cost of devices and lack of skilled professionals to operate the device can dampen the otherwise smooth run of the intracranial pressure monitoring market during the review period.
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Competitive Landscape:
The progressing market is banking majorly on strategic implementations such as merger, acquisition, new launch, collaboration, and others. For instance, Integra LifeSciences and Johnson & Johnson have agreed to divestiture of neurosurgical medical device product lines.
Prominent players influencing the intracranial pressure monitoring market are Integra LifeSciences, Medtronic Inc, Johnson & Johnson Services, Inc., Sophysa SA, Spiegelberge GmbH & Co.KG, Raumedic AG, HaiWeiKang, Head Sense Medical Ltd, Vittamed, Natus Medical Inc., Nihon konden Corporation, Siemens Healthcare, Cpmpumedics Ltd, Advanced Brain Monitoring, Inc., and others.
Industry Trend:
Branchpoint Technologies AURA recently received the green light from the United States Food and Drug Administration (FDA). Aura includes a fully implantable and wireless intracranial pressure (ICP) sensor enabling mobile ICP monitoring for injured patients.
Researchers from BioMediTech, Tampere University of Technology (TUT) have developed a wireless sensor that can be implanted within the human body for a better understanding of intracranial pressure and efficient treatment of illnesses in the future.
Regional Analysis:
Region-specific analysis of the intracranial pressure monitoring market includes the Americas, Europe, Asia Pacific (APAC), and Middle East & Africa (MEA).
The Americas is leading the market with substantial revenue as the region records a massive number of patients suffering from traumatic brain injury owing to various reasons such as accidents and old age. However, it’s the awareness related to neurodegenerative disease and government initiatives for a better infrastructure that is helping the regional market to burgeon. Europe has the second-best market with governments investing heavily in research and development. The APAC can register the fastest CAGR during the forecast period owing to its revamping healthcare sector. Intracranial pressure monitoring devices are further penetrating the market due to increasing awareness.
Segmentation:
The global intracranial pressure monitoring market can be segmented by methods, devices, application, and end-user.
Based on methods, the intracranial pressure monitoring market includes invasive and non-invasive methods. Invasive can be further sub-segmented into ventriculostomy and micro-transducers. Non-invasive can be sub-segmented into transcranial Doppler, tympanic membrane displacement, optic nerve sheath diameter, CT scan/MRI, and fundoscopy and papilledema.
Device-based segmentation of the intracranial pressure monitoring market consists ubarachnoid devices, epidural/subdural devices, pneumatic sensors (Spiegelberg brain pressure monitor), intraparenchymal devices, fiberoptic catheter tip transducers (Camino intracranial pressure monitor), implanted microchip transducers (Codman sensors), Magnetoencephalography (MEG), Electroencephalograph (EEG), cerebral oximeters, and transcranial doppler.
Application-wise, the intracranial pressure monitoring market comprises traumatic brain injury, intracerebral hemorrhage, meningitis, and subarachnoid hemorrhage.
Based on end-users, the intracranial pressure monitoring market can include hospitals, clinics, and trauma centers.
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
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