Brain Monitoring Market Size Forecast to Reach $8.91 Billion by 2025

The Brain Monitoring Market size is forecast to reach $8.91 billion by 2025, growing at a CAGR of 6.67% during the forecast period 2020-2025. Brain monitoring devices are used to monitor and diagnose Neurological conditions by exploring the structure and function of the brain. This process involves the use of several brain monitoring devices such as electroencephalography devices, intracranial pressure monitors, and magneto encephalography to track brain functions. Growing number of Traumatic brain injuries and increasing applications of brain monitoring is the major factor driving the growth of the market. Rising awareness of neurodegenerative diseases is set to further enhance the overall market demand for the Brain Monitoring Market during the forecast period 2020-2025.

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Brain Monitoring Market Segment Analysis - Product Type

The Electroencephalograph segment held the largest share in the Brain Monitoring Market in 2019 and is estimated to grow at a CAGR of 7.3% during the forecast period 2020-2025. Electroencephalography (EEG) is the recording of electrical activity along the scalp, produced by the firing of neurons within the brain. In clinical contexts, EEG refers to the recording of the brain's spontaneous electrical activity over a short period, usually 20–40 minutes, as recorded from multiple electrodes placed on the scalp. In neurology, the main diagnostic application of EEG is in the case of epilepsy, as epileptic activity can create clear abnormalities on a standard EEG study. Secondary clinical use of EEG is in the diagnosis of coma, encephalopathy, and brain death. Electroencephalograph is set to be the highest growing segment and is estimated to register the highest CAGR during the forecast period 2020-2025.

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Brain Monitoring Market Segment Analysis - End Users

The Hospitals & clinics segment held the largest share in the Brain Monitoring Market in 2019. 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. Hospitals & Clinics are set to be the highest growing segment and are estimated to register the highest CAGR during the forecast period 2020-2025.

Brain Monitoring Market Segment Analysis - Geography

North America dominated the Brain Monitoring Market in 2019 with a share of more than 41.2%, followed by the Asia Pacific owing 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 is also increasing the growth of the Brain Monitoring market in this region.

However, Asia Pacific is estimated to grow at a higher CAGR during the forecast period 2020-2025 owing to the increase in the number of geriatric population and people suffering from chronic diseases and a rise in the purchasing power of countries in the region.

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Brain Monitoring Market Drivers

Increasing incidence and prevalence of neurological disorders

The increasing incidence and prevalence of neurological disorders are increasing the growth of the Brain Monitoring Market. 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. The rising incidence of these neurological disorders has made it extremely important to monitor brain and neurological functions. Many neurological disorders and conditions are progressive, and their risk increases with age. Additionally, the prevalence of other diseases and conditions, such as sickle-cell diseases and cardiac disorders, is also growing. Cardiac procedures sometimes affect the normal functioning of the brain, which is another major factor driving the demand for brain monitoring devices. Thus, increasing the growth of the Brain Monitoring Market during the forecast period 2020-2025.

The increasing demand for non-invasive and minimally invasive devices

The increasing demand for non-invasive and minimally invasive devices is increasing the growth of the Brain Monitoring Market. 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, compelling players in this market to develop and commercialize such products. Thus, increasing the growth of the Brain Monitoring Market during the forecast period 2020-2025.

Brain Monitoring Market Challenges

Research high cost of complex brain monitoring procedures and devices

Some of the factors that are set to impede the growth of the Brain Monitoring Market are the research high cost of complex brain monitoring procedures and devices.

Brain Monitoring Market Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and R&D activities are key strategies adopted by players in the Brain Monitoring Market. In 2019, the Brain Monitoring Market share is consolidated by the top ten players present in the market. Brain Monitoring Market, the top 10 companies are Natus Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Siemens Healthineers, Compumedics, Ltd. , Medtronic, CAS Medical Systems, Inc., Drägerwerk AG & Co. KGaA, Advanced Brain Monitoring, Masimo Corporation, Spiegelberg GmbH & Co. KG, Cadwell Industries, NeuroWave Systems, Inc., Nonin Medical, Inc., Integra LifeSciences Corporation, Neurosoft, and Rimed among others.

Acquisitions/Product Launches

In March 2019, Masimo (US) received CE Mark approval for its next-generation SedLine brain function monitor for pediatric patients aged between one and 18 years of age; this product assesses the brain function while the patient is under anesthesia.

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.

Key Takeaways

North America dominated the Brain Monitoring Market in 2019 owing to the growing incidence of neurological diseases, a growing number of clinical trials of brain monitoring products, and the availability of medical reimbursement. The Brain Monitoring Market scope for different regions will be provided in the final report.

Increasing incidence and prevalence of neurological disorders and the increasing demand for non-invasive and minimally invasive devices is likely to aid in the market growth of the Brain Monitoring Market.

Detailed analysis of the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Brain Monitoring Market report.

Research high cost of complex brain monitoring procedures and devices are poise to create hurdles for the Brain Monitoring Market.

Related Reports :

A. Neurological Biomarkers Market
https://www.industryarc.com/Research/Neurological-Biomarkers-Market-Research-502525

B. Trauma Care Centers Market
https://www.industryarc.com/Report/19520/trauma-care-centers-market.html

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