Intracranial Pressure (ICP) Monitoring Devices Market 2024 - Industry Analysis, Business Opportunity, Development, Growth Factors And Outlook 2033

The intracranial pressure (icp) monitoring devices market size has grown strongly in recent years. It will grow from $1.57 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing incidence of traumatic brain injuries (tbis), aging population, growing awareness and diagnosis, medical tourism, rising geriatric population, global healthcare awareness and accessibility.

The intracranial pressure (icp) monitoring devices market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to personalized medicine approaches, telemedicine and remote monitoring, rise in chronic neurological disorders, integration with electronic health records (ehr), global increase in neurosurgical procedures, focus on outpatient monitoring. Major trends in the forecast period include artificial intelligence (ai) integration, continuous monitoring solutions, collaborations and partnerships, focus on non-invasive monitoring, home-based icp monitoring.

Market Overview -
Intracranial pressure (ICP) monitoring devices refer to medical devices used to measure and monitor the pressure inside the skull and brain. It is primarily used in patients with conditions that can cause increased intracranial pressure.

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Rising Traumatic Brain Injury Cases Propel Growth In The Intracranial Pressure Monitoring Devices Market
The growing number of traumatic brain injury (TBI) cases is expected to propel the growth of the intracranial pressure (ICP) monitoring devices market going forward. Traumatic brain injury (TBI) refers to an injury to the brain caused by an external force or trauma. The growing number of Traumatic brain injury (TBI) cases is mostly driven by increasing motor vehicle accidents, sports injuries, and physical assaults, where Intracranial pressure (ICP) monitoring devices play a crucial role in the management of traumatic brain injury (TBI) cases by providing real-time information about the pressure inside the skull. For instance, in March 2021, the Brain Injury Association of America (BIAA), a US-based national organization, estimated that 2.8 million people in the country experience TBI each year, with around 280,000 requiring hospitalizations. Moreover, in the U.S., a brain injury occurs every nine seconds, resulting in over 3.5 million injuries annually. Among these injuries, approximately 50,000 are fatal, leading to around 155 deaths per day related to TBI. Consequently, the growing number of TBI cases will drive the growth of the intracranial pressure (ICP) monitoring devices market.

Competitive Landscape -
Major companies operating in the intracranial pressure (icp) monitoring devices market report are Medtronic plc, Integra LifeSciences Holding Corporation, Natus Medical Inc., Haiying Medical, Raumedic AG, Sophysa Ltd., Ad-Tech Medical Instrument Corp., Third Eye Diagnostics, Boston Neurosciences Inc., DePuy Synthes, Codman & Shurtleff Inc., NeuroWave Systems Inc., Branchpoint Technologies Inc., Cerebrotech Medical Systems Inc., Deltex Medical Group plc, Gaeltec Devices Ltd., Infrascan Inc., NeuroDx Development, NeuroVent Research Inc., Noninvasix, Vivonics Inc., Neural Analytics, Spiegelberg GmbH and Co. KG, HeadSense Medical Ltd., Moberg ICU Solutions, Nisonic AS, Vittamed Corporation, Cerebral Assessment Systems Inc., Orsan Medical Technologies Ltd.

Fueling Advancements In Intracranial Pressure Monitoring Devices Market
Strategic Partnership is a key trend gaining popularity in the intracranial pressure (ICP) monitoring devices market. Major companies operating in the intracranial pressure (ICP) monitoring devices market are looking for partnerships to strengthen their position in the market. For instance, in November 2022, IRRAS, a Sweden-based medical technology company, partnered with Medtronic, a US-based medical device company operating in the intracranial pressure monitoring devices market. This partnership provides Medtronic with an exclusive right to promote the IRRAflow system in some of the territories in the United States. Further, in November 2022, EMOTIV, a US-based company advancing in using electroencephalography (EEG) partnered with X-trodes, an Israel-based biotechnology company providing wireless medical-grade monitoring solutions. This partnership aims to launch a new medical-grade, at-home solution for brain monitoring research.

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Key Segments -
The intracranial pressure (icp) monitoring devices market covered in this report is segmented -
1) By Technique: Invasive, Non-Invasive
2) By Application: Traumatic Brain Injury, Intracerebral Hemorrhage, Meningitis, Subarachnoid Hemorrhage, Cerebrospinal Fluid (CSF) Management, Migraine, Stroke, Hydrocephalus, Electroencephalogram (EEG), Other Applications
3) By End User: Hospitals, Ambulatory Care And Clinics, Other End-users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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