Neuro Critical Care Market Growth and Opportunities 2018-2028
There are a number of equipment used for the diagnosis and monitoring of neurological injuries and disorders. Computed tomography (CT), magnetic resonance imaging (MRI) and electroencephalography (EEG) are some of the diagnostic equipment used in neuro critical care centers. A CT scan is generally used to locate or determine the location of the brain injury, while an MRI is used for further in-depth brain imaging for better assessment and diagnosis. Most equipment used in neuro critical care centers consist of life support and emergency devices, which includes monitoring systems such as CNS monitors, CNS video cameras, CNS readers, ventilators, and other accessories such as infusion pumps and catheters.
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Advanced monitoring techniques used in neuro critical care allows the early identification of neurological injuries before permanent brain damage occurs. Neuro critical care also offers patients with specialized therapeutic and management options to achieve favorable outcomes. In North America, there are around 25 academic neuro critical care centers that cater to the needs of neurological patients.
Neuro Critical Care Market: Drivers and Restraints
The rising incidences of stroke and head trauma will boost the growth of the market. Increasing advances in neurosurgical techniques owing to the rising need for neuro critical care is expected to be a major factor driving the growth of the neuro critical care market over the forecast period. The rise in the incidences of brain tumors is another strong driving force in the industry, to provide more neuro critical care centers, thereby driving the growth of the neuro critical care market. Increasing advancements in technology on the neurosurgical front owing to the rising need of neuro critical care is expected to boost its market growth considerably during the forecast period. However, insufficient staff and need for specially trained professionals hinder the growth of the market substantially. The high cost involved in the establishment of a neuro critical care unit and the increased cost of in-patient in a neuro critical care center may hinder the growth of the neuro critical care market over the forecast period.
Neuro Critical Care Market: Overview
The global neuro critical care market is expected to witness moderate growth over the forecast period. Neuro critical care can be broadly classified based on equipment type as diagnostic equipment and monitoring equipment. With respect to end users, the market is segmented into hospitals, emergency centers, and specialty clinics. The hospitals segment governs a major share of the market. However, specialty clinics is a fast growing segment in the neuro critical care market. This is due to an increase in the number of patients preferring specialty clinics for personalized care.
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Neuro Critical Care Market: Regional Outlook
Geographically, the global neuro critical care market is segmented into North America, Latin America, Europe, Asia Pacific excluding Japan (APEJ), CSI & Russia, Japan, and the Middle East and Africa (MEA). North America is expected to be the dominant market in the global neuro critical care market, owing to the increasing incidence of stroke cases, and increasing healthcare and R&D spending in the region. The neuro critical care market in Asia Pacific excluding Japan is expected to grow at a significant CAGR, due to increased R&D spending and advancements in technology.
Neuro Critical Care Market: Key Players
The global market for neuro critical care is highly fragmented. Examples of some of the key players operating in the global neuro critical care market are Abbott, Teleflex Incorporated, Aspect Medical Systems, Inc., CardioDynamics International Corporation, Medtronic, General Electric Company, Edwards Lifesciences Corporation, Integra LifeSciences Corporation., Philips N.V., Drägerwerk AG & Co. KGaA, and Terumo Medical Corporation, among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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