Intracranial Pressure (ICP) Monitoring Devices Market to Growing at a CAGR of 6.4% During the Forecast Period 2020-2025

Intracranial Pressure (ICP) Monitoring Devices Market size is estimated to be $1.4 billion in 2019, growing at a CAGR of 6.4% during the forecast period 2020-2025. ICP monitoring devices are widely used to diagnose the rising level of intracranial pressure caused by cerebrospinal fluid (CSF) which is caused by trauma injuries, meningitis and Hemorrhage. Moreover, according to Neurology India every year in India more than millions of trauma injury cases are witnessed. Besides this, the rising health concern among the people is fueling the market growth. The boost in the ICP monitoring device market is dominated by Drainage Catheters owing to its accuracy and reliability as it has the property to relieve the intracranial pressure by draining the CSF fluid from the skull.

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Intracranial Pressure (ICP) Monitoring Devices Market Segment Analysis - By monitoring type

By Monitoring type, the ICP devices are segmented into Invasive and Non- Invasive devices. Among these the invasive devices held the largest market share in 2019 owing to the most widely used Drainage catheters, where through a hole the catheter is placed inside the skull and the probe attached to it helps in monitoring and relieving the high level of CSF fluid pressure. It is also anticipated to witness the fastest growth rate of 6.9% in the forecast period 2020-2025. As invasive devices provide accurate results, they are more preferred than non-invasive ones. But recent trends have also shown that the non- invasive devices reliability has increased for CT scan as it provides clear demarcation of the injury location.

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Intracranial Pressure (ICP) Monitoring Devices Market Segment Analysis - By End-User

Hospitals accounted for larger market share in 2019 owing to the owing to the increasing number of severe trauma cases which has resulted in patient coming for treatment to the hospitals. Moreover, hospitals use variety of techniques to monitor ICP- clinical examination, brain imaging and ICP monitors. In addition, home usage has increased with recent launch of wireless monitors which allow patients to check their intracranial pressure level at more ease.

Intracranial Pressure (ICP) Monitoring Devices Market Segment Analysis - Geography

North America dominated the ICP monitoring device market with the revenue share of 38% in 2019 as it consists of a large number people suffering from traumatic cases. According to Journal of Neurosurgery, 1299 cases was witnessed in the year 2018. Owing to the increasing cases US has a large manufacturing base for the monitoring devices which is fueling the market growth. Moreover, Europe and APAC followed North America holding large number of cases related to brain injuries and dysfunctionalities which in turn is boosting the market growth in these regions.

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Intracranial Pressure (ICP) Monitoring Devices Market Drivers

Large pool of People Suffering From Traumatic Injury

Large pool of people suffers from brain injuries every year worldwide has boosted the industry growth. With the upsurge in new technologies manufacturers are trying to innovate their product base. In addition, mounting cases of aneurysm, brain infection, and meningitis amongst the global population would consequence in augmented requirement for ICP monitoring, henceforth affecting the growth of the market positively.

Technological Advancement in ICP Monitor Devices

Technology advancement in ICP Monitor devices is a major factor driving the ICP market in forecast period 2020-2025. Major industry giants have revolutionized the conventional device market. For instance, Integra has launched Camino Flex catheters which perform multifunctional roles which has also increased the scope for advancement for other competitors. In addition to this AURA monitor devices have completely disrupted the market with their first wireless device.

Intracranial ICP Monitoring Devices Market Challenges

Side-Effects of Invasive devices

Invasive monitor devices have side effects as they are inserted inside the skull so they increase the chance of risks like- infection, swelling and hemorrhage, thus hampering the industry growth.

Intracranial Pressure Monitoring Device Market Industry Outlook

Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Intracranial Pressure Monitoring Device Market. Medical & Pharmaceutical Gases and Equipment Market top 10 companies are Integra LifeSciences, Medtronic, Johnson and Johnson, Sophysa Ltd, Spiegelberg, Raumedic, HaiWeiKang, HeadSense Medical, Vittamed and Clean Cut Technologies LLC.

Development

December, 2019: IRRAS launched humming bird ICP monitoring product for neurocritical care.

Key Takeaways

Invasive accounted for a larger market share owing to the external ventricular drains which provides high accuracy and reliability.

Hospitals accounted for a larger market share in 2019 owing to the presence of large number of trauma patients treated there.

North America dominated the ICP monitoring device market as it consist of a large number people suffering from traumatic cases.

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