Brain Monitoring Market worth 12.22 Billion USD by 2021
The global brain monitoring market is expected to reach USD 12.22 Billion by 2021 from USD 8.80 Billion in 2016, growing at a CAGR of 6.8% from 2016 to 2021.
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On the basis of product, the brain monitoring market is segmented into devices and accessories. The devices segment is estimated to command the largest share in 2016. The large share of this segment can be attributed to factors like increasing incidence of neurological, neurodegenerative, psychotic, and sleep disorders; the need for early diagnosis; availability of innovative portable and wearable home-based monitoring devices; and increasing patient awareness. On the basis of end user, the brain monitoring market is segmented into hospitals, neurology centers, clinics and ambulatory surgical centers (ASCs), diagnostic centers, ambulances and centers, and other end users.
Based on type, the brain monitoring devices market is segmented into MRI scanners, CT scanners, PET scanners, electroencephalography devices, cerebral oximeters, intracranial pressure monitors, sleep monitoring devices, electromyography devices, TCD devices, and magnetoencephalography devices. The MRI scanners segment is estimated to account for the largest share in 2016. This is due to its advantages over other imaging techniques, such as superior image quality; technological advancements in MRI scanners; and growing application of MRI in the diagnosis and staging of neurological disorders. The large share of this segment can be attributed to the fact that MRI is an important, superior, and sensitive imaging technique for brain imaging in routine clinical practice.
Based on disease type, the brain monitoring market is segmented into epilepsy, dementia, Parkinson’s disease, Huntington’s disease, headache disorders, strokes, traumatic brain injuries, sleep disorders, and other diseases. In 2016, the market is estimated to be dominated by traumatic brain injuries. The large share of this segment can be attributed to the growing incidence of TBIs globally owing to various factors like, increasing occurrence of falls, blunt trauma, and motor vehicle crashes among other causes of traumatic brain injuries and along with the increasing aging population.
Based on region, the global brain monitoring market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2016. This large share can be attributed to the increase in the geriatric population, growing incidence of various neurodegenerative and sleep disorders, availability of insurance coverage for brain monitoring techniques, government initiatives to support technological advancement in the field of neurosciences, and increasing awareness about the benefits of early diagnosis of diseases.
Prominent players in the brain monitoring market include Natus Medical Inc. (U.S.), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (U.K.) Siemens Healthineers (Germany), Compumedics Ltd. (Australia), Electrical Geodesics Incorporated (U.S.), Medtronic plc (Ireland), CAS Medical Systems, Inc. (U.S.), and Advanced Brain Monitoring (U.S.).
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