Brain Monitoring Market Worth $4.8 Billion | MarketsandMarkets™

Brain Monitoring Market in terms of revenue was estimated to be worth $3.5 billion in 2023 and is poised to reach $4.8 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028 according to a new report by MarketsandMarkets™. Factors propelling the brain monitoring market include the escalating occurrence and prevalence of neurological disorders, heightened awareness surrounding neurodegenerative diseases, an uptick in traumatic brain injuries, and expanding utilization of brain monitoring in clinical trials.

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The accessories segment is expected to register the highest growth of the brain monitoring market

By product, the global brain monitoring market is categorized into devices and accessories. The accessories segment is expected to register the growth of the brain monitoring market in 2022. The growing population, increasing incidence of neurological disorders, technological advancements, and the rising adoption of novel accessories are expected to propel the growth of this market.

Non-invasive procedures accounted for the largest share of the brain monitoring market

By procedure, the global brain monitoring market is categorized into invasive and non-invasive. The non-invasive segment held the largest share of the brain monitoring market in 2022. Primarily attributed to the factors such as non-invasive techniques are associated with lower risks of complications, infections, and side effects compared to invasive procedures. This safety profile makes them more favorable, especially in cases where continuous or repeated monitoring is required.

Fixed devices accounted for the largest share of the modality segment of the brain monitoring market

By modality, the global brain monitoring market is categorized into fixed, portable, and wearable. The fixed devices held the largest share of the brain monitoring market in 2022. This is due to their established presence and usage in clinical settings such as hospitals, specialized healthcare facilities, and research institutions. These fixed devices are often considered the standard for comprehensive brain monitoring due to their accuracy, reliability, and advanced functionalities.

The traumatic brain injury segment accounted for the largest share of the brain monitoring market in 2022.

Based on medical condition, the brain monitoring market is segmented into traumatic brain injury (TBI), stroke, dementia, headache disorders, sleep disorders, Parkinson's disease, epilepsy, Huntington's disease, and other diseases. Traumatic brain injury (TBI) holds the largest share of the brain monitoring market by a medical condition. One of the primary drivers contributing significantly to the substantial market share of this segment is the increasing global prevalence of Traumatic Brain Injuries (TBIs). This surge in TBIs creates a considerable demand for managing such cases, necessitating the extensive utilization of brain monitoring devices.

Hospitals accounted for the largest share of the end user segment of the brain monitoring market

Based on end-users, the global brain monitoring devices market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & and clinics, and other end users. The hospital segment held the largest global brain monitoring market share in 2022. Brain monitoring necessitates intricate procedures involving costly and sophisticated devices primarily available within hospital settings. Hospitals experience notably higher patient volumes than smaller clinics and other end users. Moreover, the maintenance expenses associated with brain monitoring devices substantially burden healthcare facilities, and hospitals, in particular, can manage such costs. As a result, brain monitoring devices find predominant use in hospitals, contributing to their dominance and larger market share within this segment.

North America accounted for the largest share of the global brain monitoring market

Based on region, the brain monitoring market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa, Latin America, and Middle East & Africa. North America held the largest share of the global brain monitoring market in 2022, while Asia Pacific is projected to be the fastest-growing region in the forecast period. The large share of North American brain monitoring market is due to growing number of clinical trials of brain monitoring products, availability of medical reimbursement in US, large patient population for target diseases, the strong presence of device manufacturers in the region, and the availability of significant R&D investments to support brain monitoring development.

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Brain Monitoring Market Dynamics:

Drivers:

Increasing incidence and prevalence of neurological disorders
Restraint:

Research High cost of complex brain monitoring procedures and devices
Opportunities:

The increasing demand for non-invasive and minimally invasive devices
Challenge:

Shortage of trained professional
Key Market Players of Brain Monitoring Industry:

Some of the leading players in the Brain Monitoring market include Advanced Brain Monitoring (US), Masimo Corporation (US), Unilabs Holdings AB (Sweden), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Siemens Healthineers (Germany), Compumedics, Ltd. (Australia), Medtronic (Ireland), Luciole Medical AG (Switzerland), Drägerwerk AG & Co. KGaA (Germany), Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), and Neurosoft (Russia).

The break of primary participants was as mentioned below:

By Company Type - Tier 1-35%, Tier 2-45%, and Tier 3-20%
By Designation - C-level-35%, Director-level-25%, Others-40%
By Region - North America-45%, Europe-30%, Asia Pacific-20%, Latin America- 3%, Middle East and Africa-2%

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