Intracranial Pressure (ICP) Monitoring Devices Market Outlook 2024-2033

The Business Research Company recently released a comprehensive report on the Global Intracranial Pressure (ICP) Monitoring Devices Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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.

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Market Drivers and Trends:

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.

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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Major Key Players of the Market:

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.

Intracranial Pressure (ICP) Monitoring Devices Market 2024 Key Insights:

• 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%.
• Rising Traumatic Brain Injury Cases Propel Growth In The Intracranial Pressure Monitoring Devices Market
• Fueling Advancements In Intracranial Pressure Monitoring Devices Market
• North America was the largest region in the intracranial pressure (ICP) monitoring devices market in 2023

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